CHICAGO — EQ Office, the U.S. office portfolio company wholly owned by Blackstone, has completed its more than $500 million renovation of Chicago’s Willis Tower. The 110-story tower is now certified LEED Platinum and is the largest building in the U.S. to achieve that designation, according to EQ Office. Part of the transformation is Catalog, a 300,000-square-foot retail, dining and entertainment destination at the base of the tower. The name Catalog is a nod to the Sears Roebuck Co. and its printed catalog. Designed by Gensler, Catalog features restaurants such as Tortazo by Rick Bayless, Shake Shack, Joe & the Juice, Foxtrot, Starbucks, Brown Bag Seafood Co., Do-Rite Donuts & Chicken, Sushi-San and Sweetgreen. Kindling, a two-story restaurant concept from Chicago’s 50/50 Group, as well as Urbanspace, a food hall, are both slated to open in late summer or early fall. A 30,000-square-foot outdoor terrace sits atop Catalog. The Skydeck observatory at Willis Tower also underwent a renovation through partnerships with exhibit design firms Thinc and SOM. An interactive “best of Chicago” museum-like exhibit celebrates the personality, history and neighborhoods of Chicago. Gensler designed the building’s new exterior façade at the base. SKB Architecture and Design handled the design of …
Illinois
AURORA, ILL. — BH Management Services has acquired Legacy at Fox Valley in Aurora for an undisclosed price. The 272-unit apartment community was built in 1998. The property recently underwent renovations to the amenities, major building systems and more than half of the unit interiors. Amenities include a clubhouse, event kitchen, outdoor heated pool, dog park and volleyball court. John Jaeger and Justin Puppi of CBRE represented the seller, White Oak Partners.
EVANSTON, ILL. — Kiser Group has arranged the sales of two multifamily properties in Evanston for $9.1 million. In the first transaction, a 12-unit building at 1901 Sherman Ave. sold for $5.1 million. The property is situated in close proximity to Northwestern University and has historically been fully occupied. The second building comprises 15 units at 1326 Chicago Ave. and sold for $4 million. Twelve of the units have been renovated. Kiser Group’s Danny Mantis, Matt Halper and Lee Kiser brokered the transactions. Buyer and seller information was not provided.
PLANO, WAUKEGAN AND NEW LENOX, ILL. — Hanley Investment Group Real Estate Advisors has arranged the sales of three retail properties in suburban Chicago for roughly $10 million. In the first transaction, Lakewood Springs Commons in Plano sold for $3 million. The 26,300-square-foot center was built in 2007. Dylan Mallory, Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller, a private investment group based in Chicago. Greg Cline of The Cline Co. represented the buyer, a New Jersey-based private investor. Cedar Center in New Lenox sold for $3.4 million. The 22,370-square-foot property was built in 2007. The Hanley team represented the seller, a Chicago-based private investment group. David Cendejas of SVN Vanuard represented the buyer, a Los Angeles-based private investor. In the final transaction, Bay Ridge Court in Waukegan sold for $3.6 million. Built in 1991 and remodeled in 2020, the property spans 27,687 square feet. Lefko and Asher represented the seller, Fortune Bank. Douglas Cole of Marcus & Millichap represented the buyer, a Los Angeles-based private investor.
SKOKIE, ILL. — Newcastle Properties has acquired the 14,856-square-foot Boardwalk Plaza retail center in Skokie. Located at the intersection of Dempster Street and Keeler Avenue across from the Evanston Country Club, the property is home to Starbucks, SAS Comfort Shoes, Devonshire Montessori School and Albert Memi Salon. The seller and sales price were not provided. Newcastle owns and operates 82 properties in 23 states with a focus on the retail, multifamily, hospitality and office sectors.
COUNTRYSIDE, ILL. — In a sale-leaseback transaction, MDH Partners has purchased a 78,490-square-foot industrial property in Countryside, about 18 miles southwest of Chicago. The sales price was undisclosed. The property is located at 5315 Dansher Road within Chicago’s North I-55 industrial submarket. Doug Pilcher of Cushman & Wakefield represented the seller and tenant, Sokol & Co., which is a food manufacturing company. Houston Hawley served as the acquisition lead for MDH.
ELGIN, ILL. — Chicago-based Martinez Produce & Seafood has expanded its Chicagoland footprint with the purchase of a 65,772-square-foot industrial facility in Elgin. The building, which features six truck docks and two drive-in doors, more than doubles the company’s footprint. Cory Kay and Mike DeSerto of Entre Commercial Realty represented Martinez Produce & Seafood, while Lee & Associates represented the seller. The sales price and seller were not provided.
Maverick Commercial Arranges $14M in Permanent Financing for Home Depot-Occupied Property in Chicago
CHICAGO — Maverick Commercial Mortgage Inc. has arranged a $14 million first mortgage loan for a 103,550-square-foot retail property occupied by Home Depot in Chicago’s Chatham neighborhood. Earlier this year, Home Depot signed a new 10-year lease with MG Development LP for the property, which is located at 200 W. 87th St. and includes an exterior garden center. A regional bank provided the 10-year, floating-rate loan, which features a 25-year amortization schedule. Proceeds from the loan paid off the existing lender, provided cash to the borrower and paid for closing costs.
CHICAGO — Kiser Group has brokered the sale of a 21-unit apartment building in Chicago’s East Rogers Park neighborhood for $3.2 million. The property is located at 1237 W. Morse Ave. and includes 14 one-bedroom units and seven two-bedroom units as well as nine parking spaces. Danny Logarakis of Kiser represented the seller, who had owned the property for more than two decades and completed upgrades. Logarakis also represented the undisclosed buyer, who is expected to renovate units and increase rents.
CHICAGO — Mid-America Real Estate Corp. has brokered the sale of Elston Logan Plaza in Chicago’s Elston Corridor for $29.2 million. Anchored by HomeGoods, the shopping center spans 56,080 square feet. Additional tenants include Chipotle, Potbelly Sandwich Shop, Forever Yogurt, David’s Bridal, Verizon, T-Mobile and The Vitamin Shoppe. Joe Girardi and Emily Gadomski of Mid-America represented the seller, Novak Construction Co. Newport Capital Partners was the buyer.