CHICAGO — Marcus & Millichap has brokered the sale of a Starbucks-anchored retail center located at 5505 S. Kedzie Ave. in Chicago’s Gage Park neighborhood for $7 million. The Starbucks features a drive-thru, and the overall property spans 14,812 square feet. Other tenants are a mix of medical and retail users. Nicholas Kanich and Mitchell Kiven of Marcus & Millichap represented the seller, a Chicago-based developer. The asset sold to an all-cash buyer.
JOLIET, ILL. — Krusinski Construction Co. has broken ground on a 19,000-square-foot automotive center for Cassidy Best-One Tire & Service in Joliet. The project will be situated within the Rock Creek Logistics Center at 3100 Channahon Road. The facility will provide truck and automobile tire work as well as general vehicle maintenance services. The project will feature 20 drive-in doors, 10 service bays and 1,000 square feet of office space. Completion is slated for early 2022. Cornerstone Architects is the architect and Jacob & Hefner Associates is the civil engineer. Ketone Partners is the developer of the project and the owner of Rock Creek Logistics Center, which is a 263-acre business park that offers direct access to I-80.
OAK BROOK, ILL. — Clear Height Properties and its joint venture partner Buligo Capital Partners have sold 814 Commerce, a 173,017-square-foot office building in the Chicago suburb of Oak Brook. The sales price was undisclosed. The three-story property sold to Chicago-based real estate investor Helios Properties. Since acquiring the asset in 2019, Clear Height invested $1.5 million to upgrade the building’s exterior, common areas, parking deck and HVAC systems. The building is 56 percent leased to Innovista Health Solutions, IRC Retail Centers and CPS. Dan Deuter, Michael Simpson and Paul Lundstedt of Cushman & Wakefield represented the sellers.
CHICAGO — Chicago’s Fifty/50 Group will debut the first full-service restaurant at Willis Tower in downtown Chicago. Known as Kindling, the char-house restaurant will occupy a two-story space and outdoor terrace as part of Catalog, the five-story dining, retail and entertainment portion of Willis Tower. Kindling is slated to open in 2022. The restaurant will feature a large wood-burning grill and guests will enjoy entrees such as rotisserie chicken, brisket and halibut. Also joining Catalog in spring 2022 is the Chicago-based corner store, café and delivery market Foxtrot. The Catalog location will feature a coffee bar plus a selection of everyday essentials, locally sourced goods and grab-and-go offerings. Users of the Foxtrot app can order items for pickup or delivery. EQ Office owns Willis Tower, which is undergoing a $500 million renovation project. The Fifty/50 Group is a hospitality group that owns and operates 14 restaurants and bars across Chicago.
STEGER, ILL. — JLL Capital Markets has brokered the $69.5 million sale of The New Colonies in Steger, about 35 miles south of downtown Chicago. Constructed in 1973, the garden-style apartment community includes 672 units that average 676 square feet. Amenities include a pool, dog park, fitness center and community clubhouse with a business center. David Gaines and Kyle Butler of JLL represented the seller, CiTYR. Bender Cos. was the buyer.
CHICAGO — Global flooring manufacturer Tarkett has signed a lease to move its showroom and offices from Merchandise Mart to the 10th floor of Fulton East, a 12-story, 90,000-square-foot office building in Chicago’s Fulton Market District. Parkside Realty Inc. owns the building, which is located at 215 N. Peoria St. Tarkett will occupy nearly 11,000 square feet. The firm opened its 9,000-square-foot showroom at Merchandise Mart in 2017. Chicago-based Clayco constructed Fulton East and Lamar Johnson Collaborative served as architect. The newly built property includes several health and wellness features. Andy Gooliak of Colliers International and Nate Walczuk of Allegro Real Estate Brokers and Advisors represented Tarkett in the lease transaction. Katie Scott and Camille Julmy of Parkside Realty represented ownership on an internal basis.
CHICAGO — The Museum of Ice Cream (MOIC) has signed a long-term lease to open a 13,544-square-foot location at The Shops at Tribune Tower in downtown Chicago. MOIC represents the first retail tenant at the newly redeveloped Tribune Tower. The retail portion spans 50,000 square feet and anchors the ground floor of the 36-story, 740,000-square-foot tower, which is located at 435 N. Michigan Ave. Owners CIM Group and Golub & Co. have transformed the property into 162 luxury condominiums and are now welcoming their first residents. The building originally opened in 1925. Plans for the Chicago MOIC include a Chicago Transit Authority-inspired L car named the Sprink-L; a giant dessert-themed putt putt course with a Chicago dog ice cream treat; and a café with outdoor seating. The opening is scheduled for spring 2022. Chicago joins New York City and Austin as the only U.S. cities with a permanent location for MOIC.
NORTH AURORA, ILL. — The Opus Group has begun construction of two speculative industrial buildings known as Tollway Corporate Center in North Aurora. The development is a joint venture with Principal Real Estate Advisors. The first building will total 104,978 square feet and will feature 10 dock positions, two drive-in doors, eight trailer stalls, 64 car parking stalls and a clear height of 32 feet. The second building will span 543,638 square feet and will offer 54 dock positions, four drive-in doors, 90 trailer stalls, 142 car parking stalls and a clear height of 36 feet. Completion of both buildings is slated for June 2022. Opus is serving as developer, design-builder, architect and engineer. Brian Kling of Colliers International and Dan Leahy of NAI Hiffman are marketing the project for lease.
CHICAGO — Summit Design + Build has completed construction of 1111 W. Addison in Chicago’s Wrigleyville neighborhood. The four-story, 59,000-square-foot project features retail space on the ground floor and a fitness and bouldering center on the second through fourth floors. The 41,895-square-foot climbing gym is home to Movement Wrigleyville, a climbing, yoga and fitness center. Hirsch/MPG Architecture + Planning was the project architect and Clausen Management Services was the owner’s representative.
HOFFMAN ESTATES, ILL. — Headline Solar has signed a 15,690-square-foot office lease at Bell Works Chicagoland, the redevelopment of the former AT&T campus in Hoffman Estates. The solar panel installation company will make the office its national headquarters. Headline Solar currently operates in Texas and Illinois and plans to expand to Virginia, Florida and the Carolinas by 2023. The company expects to take occupancy of its new space in the first quarter of 2022. Headline Solar joins office tenants Platinum Home Mortgage, CPA Advisors Group, Mosquito Hunters and The Next Unicorn at Bell Works Chicagoland. Somerset Development is the owner and developer.