CHICAGO — Related Midwest has broken ground on 900 Randolph, a 43-story apartment tower in Chicago’s Fulton Market. LR Contracting Co., the contracting division of Related Midwest, and BOWA Construction are the general contractors. Designed by Morris Adjmi Architects, the project will feature 300 apartment units, 60 of which will be designated as affordable housing. Further details of the project were not provided.
LINCOLNWOOD, ILL. — AECOM-Canyon Partners and Tucker Development are underway on the development of District 1860, a multifamily and retail project in the Chicago suburb of Lincolnwood. Plans call for 299 multifamily units, an Amazon Fresh grocery store and more than 40,000 square feet of additional retail and restaurant space. Pacific Western Bank provided a senior construction loan. Completion is slated for 2023.
CHICAGO — Becovic has acquired The Juneway Gardens in Chicago’s Rogers Park neighborhood for $7.2 million. Located on Juneway Terrace, the 61-unit apartment building was constructed in 1922. The seller, a local apartment owner, had owned the three-story property for more than 30 years. Becovic Realty, the brokerage arm of Becovic, brokered the sale.
CHICAGO — Hines Global Income Trust Inc. has entered into an agreement to acquire the historic WGN-TV Studios building located at 2501 W. Bradley Place in Chicago’s North Center submarket. Chicago-based developer R2 is selling the property for about $30.5 million, according to Crain’s Chicago Business. The deal follows Hines Global’s recent acquisition of Bradley Business Center, a 23-acre mixed-use campus located across the street from the WGN property. The TV station spans 131,000 square feet and is fully leased to WGN-TV, which first aired in 1948. Cody Hundertmark, Tom Sitz and David Knapp of Cushman & Wakefield brokered the transaction.
CHICAGO — L3 Capital has acquired 1051 N. Rush, a high-profile retail property in Chicago’s Gold Coast neighborhood. The purchase price was undisclosed. The two-level asset spans 10,000 square feet and is fully leased to Vans and Uniform Teeth. Marol Rush was the seller. Keely Polczynski of CBRE brokered the transaction.
SKOKIE, ILL. — JLL Capital Markets has brokered the sale of 4901 Searle Parkway, a 228,362-square-foot life sciences building in Skokie. The sales price was undisclosed. Located within the Illinois Science + Technology Park, the property originally served as the headquarters of pharmaceutical giant G.D. Searle. Today, the building is leased to NorthShore University HealthSystem. Sam DiFrancesca, Patrick Shields, Jaime Fink, Jeffrey Bramson, Bruce Miller and Brian Shanfeld of JLL represented the seller, American Landmark Properties. TopMed Realty, a private equity firm focused on healthcare real estate, was the buyer.
DOWNERS GROVE, ILL. — The Opus Group has broken ground on a seven-story, 167-unit luxury apartment complex in the Chicago suburb of Downers Grove. Located at 926 Maple Ave., the project will include 319 parking spaces, 71 of which are dedicated for a neighboring church. Amenities will include work-from-home suites, a clubroom, fitness center, conference room, coffee bar, pool, pet spa and dog run. The project is a joint venture between Opus and Principal Real Estate Investors. Opus is serving as developer, design-builder, interior designer, architect and structural engineer. Greystar will manage the property, completion of which is slated for April 2023.
CHICAGO — Foxtrot, a corner store, café and delivery market, has leased 1,739 square feet at The Shops at Tribune Tower in Chicago. Launched in 2013, Foxtrot offers grocery staples, sommelier-curated wine and locally sourced goods. The Chicago-based company currently operates 15 locations across Chicago, Washington, D.C., and Dallas. The Shops at Tribune Tower consists of 50,000 square feet of retail space that anchors the ground floor of the 36-story Tribune Tower, which is located at 435 N. Michigan Ave. Under the ownership of CIM Group and Golub & Co., the property has been transformed into 162 luxury condominium units. Foxtrot is slated to open in spring 2022.
CHICAGO — Mark Goodman & Associates Inc. has received final approval from the Chicago City Council to build a 16-story life sciences development at 400 N. Elizabeth St. in Chicago’s Fulton Market neighborhood. The project is expected to bring 1,350 high-tech jobs to the city. The ground-up building will be situated on the site of the former Lakeshore Beverage distributorship. Designed by Solomon Cordwell Buenz, the 492,000-square-foot project will include life sciences, biotechnology laboratory and office space. There will be 123 underground parking spaces, a fitness center and a ground-level café. The developer will also build a pedestrian throughway that will connect Elizabeth and Kinzie streets to Ogden Avenue. A timeline for completion was not provided.
CHICAGO — Bradley Business Center, an office and industrial complex on Chicago’s North Side, has traded hands. The sales price was nearly $100 million, according to Crain’s Chicago Business. The 23-acre property consists of four buildings totaling 466,871 square feet. The asset is 97 percent leased to 21 tenants. Cody Hundertmark, Tom Sitz, David Knapp, Mike Tenteris, Adam Tyler and Jim Carpenter of Cushman & Wakefield represented the seller, a private venture led by Hansen Realty Group. Hines Global Income Trust Inc. was the buyer.