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IllinoisIndustrialLeasing ActivityMidwest

Partners Supply Chain Solutions Signs 50,007 SF Industrial Lease in Carol Stream, Illinois

by Kristin Harlow

CAROL STREAM, ILL. — Partners Supply Chain Solutions (PSCS) has signed a 50,007-square-foot industrial lease at 189 Easy St. in the Chicago suburb of Carol Stream. The lease represents a 25 percent increase in space from the company’s current location at 171 Gary St. in Carol Stream. PSCS expects to take occupancy of its new space in August. Built in 1996, the property spans 75,538 square feet and features 10 docks. Jay Cook of Cresa represented PSCS, which operates bulk and rail operations in more than 1 million square feet in Elmwood. The Carol Stream facility will serve as its specialized operations center, housing food and pharmaceuticals and high-value inventory. Philadelphia-based EQT Exeter owns the building.

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AcquisitionsIllinoisMidwestRetail

Baum Realty Arranges $3.8M Sale of Retail Center in Streamwood, Illinois

by Kristin Harlow

STREAMWOOD, ILL. — Baum Realty Group LLC has arranged the sale of the Emerald Hills Shopping Center in the Chicago suburb of Streamwood for $3.8 million. The 20,604-square-foot property, located on South Sutton Road, is fully leased to local and national retailers. Patrick Forkin of Baum represented the seller, a family office. The center was encumbered by a CMBS loan, which the undisclosed buyer assumed at closing.

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AcquisitionsIllinoisIndustrialMidwest

Timber Hill Group Sells 3.5-Acre Outdoor Storage Facility in Chicago

by Kristin Harlow

CHICAGO — Timber Hill Group has sold a 3.5-acre outdoor storage and fleet parking property at 4626 W. 42nd St. in Chicago for an undisclosed price. Zenith IOS purchased the property, which is zoned for truck parking and is located near the Cicero Avenue and I-55 interchange. Timber Hill acquired the site in 2017 and added a perimeter fence, gate system and lighting. Brian Vanosky and Tim McCahill of Lee & Associates represented the buyer. Timber Hill is a Chicago-based private equity firm specializing in the acquisition and development of logistics real estate.

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DevelopmentIllinoisIndustrialMidwest

HIP Begins Development of 540,960 SF Spec Industrial Project in Huntley, Illinois

by Kristin Harlow

HUNTLEY, ILL. — HIP, a joint venture among affiliates of Craig Realty Group Inc., The Prime Group Inc. and The Capital Cos., has begun development of Huntley Commercial Center in Huntley, a northwest suburb of Chicago. The first phase will be a 540,960-square-foot industrial building that is slated for completion in late 2023. The building will feature a clear height of 36 feet, 357 parking stalls, 90 trailer parking stalls, 100 exterior docks and four drive-in doors. The site features an additional 11 acres that will be developed into a 177,320-square-foot build-to-suit project. Adam Marshall and Mark Deady of Newmark will market the development for lease. Development Solutions Inc. is the general contractor and Ware Malcomb is the architect.

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DevelopmentHealthcareIllinoisMidwest

McHugh Construction Breaks Ground on Five-Story Howard Brown Health Clinic in Chicago

by Kristin Harlow

CHICAGO — McHugh Construction has broken ground on a five-story healthcare facility and medical office for Howard Brown Health, a Midwest-based LGBTQ healthcare organization, in Chicago’s Lakeview neighborhood. The 91,000-square-foot building at 3501 N. Halsted St. will replace a Howard Brown clinic at 3245 N. Halsted St. The project will include first-floor retail space, a mix of clinical and administrative space, underground parking and a rooftop terrace. Completion is slated for 2023. Chicago-based Eckenhoff Saunders is the architect. Howard Brown Health is developing the project in partnership with Inland National Development Co. McHugh Concrete, a sister company of McHugh Construction, is the concrete subcontractor.

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AcquisitionsIllinoisMidwestRetail

WS Development Purchases 100,000 SF Plaza del Lago Shopping Center in Suburban Chicago

by Kristin Harlow

WILMETTE, ILL. — Massachusetts-based developer WS Development has purchased Plaza del Lago in the Chicago suburb of Wilmette for an undisclosed price. The roughly 100,000-square-foot, open-air shopping center is situated along the shore of Lake Michigan. The property was originally built in the 1920s and is the nation’s second-oldest shopping destination, according to WS, which purchased the center in partnership with CrossHarbor Capital Partners. Joe Girardi of Mid-America Real Estate brokered the transaction. The seller was undisclosed.

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AcquisitionsIllinoisMidwestMultifamily

Bayshore Properties Acquires 344-Unit Apartment Complex in Mt. Prospect, Illinois

by Kristin Harlow

MT. PROSPECT, ILL. — Bayshore Properties Inc. has acquired Mount Prospect Greens, a 344-unit apartment complex in the Chicago suburb of Mt. Prospect. Built in 1973, the property features a mix of one-, two- and three-bedroom units. There are 156 units that have been renovated with new countertops, cabinets and appliances. Tyler Hague and Lauren Stoliar of Colliers represented the seller, Pepper Pike Capital Partners. Dan Sacks and Eric Rosenstock of Greystone originated a $44.2 million Fannie Mae loan for the $49.5 million acquisition.

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AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of 47,000 SF LA Fitness-Occupied Property in Suburban Chicago

by Kristin Harlow

WESTMONT, ILL. — Mid-America Real Estate Corp. has brokered the sale of a 47,000-square-foot property occupied by LA Fitness in the Chicago suburb of Westmont. The sales price was undisclosed. LA Fitness recently executed a new 15-year lease. Joe Girardi and Matt McParland of Mid-America represented the sellers, Kensington Development and IM Properties Plc. A 1031 exchange investor was the buyer.

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DevelopmentIllinoisMidwestOffice

BMO Financial Group Opens 50-Story Office Tower in Chicago

by Kristin Harlow

CHICAGO — BMO Financial Group has opened BMO Tower at 320 S. Canal St. in Chicago’s West Loop Gate neighborhood. The 50-story office tower will serve as BMO’s new U.S. headquarters. More than 3,000 employees will be based at BMO Tower, which rises more than 700 feet. Developed by Riverside Investment & Development, the property’s main floor features a new technology-enabled BMO bank branch. The project, which features a fitness center and 1.5-acre greenspace, was designed to achieve WELL Building Platinum and LEED Gold certifications.

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DevelopmentIllinoisIndustrialMidwest

Venture One Breaks Ground on 729,823 SF Spec Industrial Facility in Huntley, Illinois

by Kristin Harlow

HUNTLEY, ILL. — Venture One Real Estate has broken ground on a 729,823-square-foot speculative industrial facility in Huntley, a northwest suburb of Chicago. Known as Venture Park 47, the project will be located at the intersection of Illinois Route 47 and Jim Dhamer Drive. The building will feature a clear height of 40 feet, 72 docks, four drive-in doors, 448 car parking stalls and 130 trailer stalls. Completion is slated for the third quarter of 2023. Brian Kling and Reed Adler of Colliers will market the project for lease.

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