CRESTWOOD, ILL. — Entre Commercial Realty has arranged the sale of a 20,273-square-foot industrial building in Crestwood, a southwest suburb of Chicago. The sales price was undisclosed. The property features five drive-in doors and an outdoor storage yard. The building is fully leased to two tenants. Jeff Locascio and Chris Wilbur of Entre represented the seller, TFZ Enterprises. Matthew Lee of Darwin Realty/CORFAC International represented the buyer, Commercial Business Properties LLC.
CHICAGO — Chicago-based JLL has arranged the sale of a 27-property healthcare portfolio totaling 1.2 million square feet for $600 million. The assets are located in Arizona, California, Colorado, Illinois, Indiana, Florida, Massachusetts, Minnesota, Oklahoma and Texas. The portfolio includes 15 medical office buildings, five micro-hospitals, four behavioral hospitals, two inpatient rehabilitation hospitals and one heart and surgical hospital. Nine of the properties are in Arizona. The portfolio is 97 percent occupied by tenants such as Advocate Aurora Health, Rush University Medical Center, Memorial Hermann, Ascension, Banner Health, Tenet Health, Lutheran Health Network, Baylor Scott & White Health and Edward-Elmhurst Healthcare. A JLL Healthcare Capital Markets team led by Mindy Berman, Evan Kovac, Andrew Milne and Brian Bacharach represented the seller, Harrison Street. NorthWest Healthcare Properties was the buyer.
WAUKEGAN AND ZION, ILL. — Colliers has brokered the sale of the Amhurst Lake Portfolio in northeast Illinois for an undisclosed price. The portfolio consists of 11 buildings totaling 1.4 million square feet. Ten of the buildings are located in the Amhurst Lakes Business Park in Waukegan, while one property is situated in Trumpet Business Park in Zion. Tenants include pharmaceutical, home goods, logistics and manufacturing entities. Jeff Devine, Steve Disse and Chris Volkert of CBRE represented the seller, a global real estate investment advisor. Link Logistics was the buyer.
CHICAGO — A partnership between Mavrek Development, GW Properties and Luxury Living Chicago Realty has unveiled plans to develop a mixed-use project in Chicago’s Streeterville neighborhood. Plans call for 248 luxury apartment units, 40,000 square feet of office space and 8,000 square feet of retail space. Amenities will include a fitness center, outdoor pool, coworking lounge and package service. Both apartment renters and office tenants will have access to the amenities. The project will replace a parking garage. Demolition is expected to begin this summer with groundbreaking scheduled by the end of the year. The office portion is expected to be ready for tenant buildouts in the third quarter of 2023, with the residential units slated for completion in early 2024. NORR is the project architect.
CHICAGO — Skender has completed a renovation of the interior office space for Equity LifeStyle Properties (ELS) at 2 N. Riverside Drive in Chicago’s West Loop. The renovation project updated the company’s 65,000-square-foot space across two-and-a-half floors and added a new roof deck. The office includes a mix of conference rooms, private offices, collaboration areas, cafés and pantries. Employees can work or socialize outdoors on the new roof deck. Skender collaborated with Partners by Design, McGuire Engineers, Structural Shop, Engineering Plus, CBRE and Spark Chicago. ELS owns and operates manufactured home communities, RV resorts, campgrounds and marinas.
CHAMPAIGN, ILL. — Marcus & Millichap has brokered the $150 million sale of a student housing portfolio comprising over 50 properties near the University of Illinois Urbana-Champaign campus in Champaign. The transaction represents the highest-ever portfolio sales price for Champaign County, according to Marcus & Millichap. The portfolio totals nearly 1,100 units. The newest property was constructed three years ago, while the oldest is more than 50 years old. Scott Harris and Bryan Kunze of Marcus & Millichap represented the seller, Campus Property Management, and procured the buyer, Fairlawn Capital. The buyer plans to reposition a number of the assets through unit upgrades and amenity additions.
CHICAGO — Revolution Brewing, the largest independently owned brewery in Illinois, has purchased a 128,422-square-foot industrial property located on North Kedzie Avenue in Chicago. The purchase price was undisclosed. The building features clear heights ranging from 18 to 24 feet, 14 docks and one drive-in door. Mike Senner and Alex Kritt of Colliers represented the seller, a private investment group.
BOLINGBROOK, ILL. — M&J Wilkow and Bixby Bridge Capital have acquired The Promenade Bolingbrook in the Chicago suburb of Bolingbrook. The seller and sales price were undisclosed. The open-air lifestyle center spans 779,000 square feet. Some of the tenants include Macy’s, Bass Pro Shops, Binny’s Beverage Depot, Ulta and DSW. The shopping center opened in 2007. M&J Wilkow and Bixby also own Outlets of Maui in Hawaii together.
AURORA, ILL. — Panattoni Development has purchased 29 acres in Aurora with plans to build a 356,462-square-foot speculative industrial development. Panattoni expects to break ground on the project this month. The industrial facility will feature a clear height of 36 feet, 34 loading docks, 139 trailer positions and 290 car parking spaces. Completion is slated for the third or fourth quarter of this year. Nick Krejci and Noel Liston of Darwin Realty/CORFAC International represented Panattoni in the acquisition. Darwin has been retained to market the project for lease.
BATAVIA, ILL. — Transwestern Real Estate Services has arranged the sale of the Campana Building in the Chicago suburb of Batavia for an undisclosed price. The 131,000-square-foot industrial flex building is located at 901 N. Batavia Ave. Michael Marconi and Paige Gunn of Transwestern represented the seller, Campana Redevelopment, and the buyer, Batavia Business Center LLC. The property was 65 percent leased at the time of sale. The new ownership has retained Transwestern to provide leasing and property management services.
