SPRINGFIELD, ILL. — Colliers International has brokered the sale of Woodland Acres Mobile Home Community in Springfield for $16.3 million. Totaling 231 units on more than 50 acres, the property is located at 3500 N. Dirksen Parkway. The community is 94 percent occupied with average rents of $373 per month. Michael Nissley of Colliers represented the seller, Ronald Coleman. Flagship Communities REIT was the buyer. The purchase marks Flagship’s entrance into the Illinois market.
CHICAGO — Interra Realty has negotiated the sale of 2827-47 N. Clybourn Ave. in Chicago’s Lakeview neighborhood for $14.8 million. Constructed in 2020, the building includes 30 apartment units and six commercial spaces on the ground floor. The apartment units were fully occupied at the time of sale. Of the six commercial spaces, two are rented as offices, two are occupied by resident gyms and two are vacant. Brad Feldman of Interra represented the buyer, a local private investor who plans to rent out the vacant space and increase rents. The seller was 2829 N. Clybourn LLC.
OAK BROOK, ILL. — Architect Antunovich Associates and developer Hines have revealed the amenity renderings for One Oak Brook Commons, a 17-story luxury apartment building in Oak Brook. Amenities will include a pool deck, fitness center, library, rooftop, social lounge and sports simulator. The 250 units will range in size from studios to three-bedroom penthouses. Pre-leasing is slated to begin later this year with first move-ins anticipated in January 2022. Monthly rents for one-bedrooms will start at $2,395. Luxury Living Chicago Realty is completing marketing and leasing for the property, which is part of the larger Oak Brook Commons, a mixed-use development with restaurants, retail, creative office space and a new park entitled The Pitch.
ELK GROVE VILLAGE, ILL. — JC Watson Packing Co. has signed a 68,021-square-foot industrial lease in suburban Chicago’s Elk Grove Village. Headquartered in southwest Idaho, the tenant focuses on packing, selling and distributing onions. The rail-served facility will enable the company to expand its footprint in the Midwest as well as its distribution channels to the East Coast. Sam Deihs of Entre Commercial Realty represented JC Watson in the lease transaction. Hamilton Partners represented the undisclosed landlord.
CHICAGO — Lendlease has broken ground on The Reed, a 41-story residential tower at 234 W. Polk St. in Chicago’s Printers Row neighborhood. Designed by Perkins + Will, The Reed will feature 216 condominium units on floors 23 through 41 and 224 apartment units on floors nine through 22. Completion is slated for 2023. The project represents the second residential tower and the first for-sale offering within Lendlease’s Southbank development, which encompasses seven acres along the south branch of the Chicago River. Condos will range in size from 630 to 1,670 square feet and will be priced from the low $400,000s up to $1.4 million. Residents will have access to two amenity suites and a private garage parking. The eighth floor will feature a 12,000-square-foot outdoor deck with a pool, cabanas, grilling stations, dining areas and fire pits. Indoor amenities on this floor will include a lounge room, pool table, virtual sports simulation room, salon and massage room, screening room and fitness centers. The Southbank master plan includes Southbank Park, a two-acre green space designed by Hoerr Schaudt. Both Southbank Park and the Riverwalk, which will provide a pedestrian connection between Harrison and Polk streets upon completion of The Reed, …
CHICAGO — Becovic, a Chicago-based multifamily owner and operator, has acquired 6758 N. Sheridan in Chicago’s Rogers Park neighborhood for $9.8 million. Originally built in 1974, the 73-unit multifamily property features 29 studios and 44 one-bedroom floor plans. Rick Ofman and Danny Logarakis of Kiser Group represented both Becovic as well as the seller, The Vranas Family Trust.
AURORA, ILL. — JLL Capital Markets has brokered the sale of Prairie Point Shopping Center in Aurora for an undisclosed price. Anchored by Mariano’s Fresh Market, the property spans 91,535 square feet. Other tenants include Pet People, Prairie Point Dental, Buchar Family Chiropractic and Hair Cuttery. Clinton Mitchell, Amy Sands and Michael Nieder of JLL represented the seller, Walton Street Capital. Buyer information was not provided.
CHICAGO — LG Development has paid more than $32 million for a 1.3-acre land site at 1143 W. Lake St. in Chicago. LG plans to develop two apartment buildings with 665 units and 290 parking spaces. Both buildings will include ground-floor retail space. Scott Maesel and Drew Dillon of SVN | Chicago Commercial represented the undisclosed seller.
SCHAUMBURG, ILL. — Sears is set to close its last store in the state of Illinois, according to reports by the Daily Herald and Crain’s Chicago Business. The Hoffman Estates-based retailer’s final location is at Woodfield Mall in Schaumburg and is scheduled to close on Sunday, Nov. 14. Simon Property Group is the mall owner. The parent company of Sears, Transformco, is pursuing redevelopment plans for the store, according to Crain’s.
ROSEMONT, ILL. — Colliers Chicago has renewed its 34,012-square-foot office lease at 6250 N. River Road in Rosemont. Colliers, which has been a tenant in the building since 2004, plans to embark on a multi-million dollar renovation of its existing floor. The property, One O’Hare Centre, spans 380,000 square feet. Amenities include a conference center, café, tenant lounge and fitness center. Darryl Silverman and David Florent of Colliers represented the tenant, while Francis Prock and Jon Connor of Colliers represented ownership, MDC Property Services and Nicola Crosby Real Estate. In addition to being a tenant, Colliers serves as the leasing agent for the property.