FRANKLIN PARK, ILL. — Principle Construction Corp. has broken ground on a 100,463-square-foot speculative industrial building at 3500 Wolf Road in Franklin Park, a western suburb of Chicago. IDI Logistics is developing the project, which will feature a clear height of up to 32 feet, 24 docks, two drive-in doors and a 130-foot truck court. The nearly seven-acre site features convenient access to I-294. Harris Architects provided design services for the project. A timeline for completion was not provided.
ADDISON, ILL. — ML Realty Partners has acquired a fully leased industrial building located at 2105 Corporate Drive in Addison, about 20 miles west of Chicago. The purchase price was undisclosed. Occupied by Huskie Tools LLC and Shape LLC, the 65,003-square-foot building is located near I-355. Huskie Tools provides hydraulic cutting and compression tools for utility linemen and professional electrical contractors. Shape is a global provider of custom transformers, magnetic assemblies and voltage regulators. Steve Disse, Jeff Devine and Tyler Ziebel of Colliers International brokered the transaction.
MANTENO, ILL. — Provender Partners has acquired a 570,028-square-foot industrial facility in Manteno, about 55 miles south of downtown Chicago. The purchase price was $30 million. Located at 1125 Sycamore Road and built in 1999, the property is fully temperature-controlled. It features 84 docks, 132 trailer stalls and rail service. The facility serves as the Midwest distribution center for McKesson’s pharmaceutical supply chain. The acquisition also includes 50 acres of excess land, which is fully entitled for the development of an additional 620,000 square feet of industrial space. Provender is considering several options for the land, including future expansion of the existing building, speculative or build-to-suit development. This is the fourth and largest food-related industrial building that Provender has acquired in the Chicago area over the past 18 months. Will Mura and Ted Gates of CBRE brokered the sale, the seller in which was undisclosed.
CHICAGO — Becovic, a Chicago-based multifamily owner and operator, has acquired The Fleetwood in Chicago’s Edgewater Beach neighborhood for $7.2 million. The 59-unit apartment building is located at 6026 N. Winthrop Ave. Originally built in 1929, The Fleetwood rises eight stories with 21 studios, 37 one-bedroom units and one two-bedroom unit. The seller, an owner and operator of several apartments in the area, owned the property for almost 40 years.
DES PLAINES, ILL. — Colliers Chicago has brokered the sale of the CEVA O’Hare Distribution Complex, a two-building industrial facility totaling 228,603 square feet in Des Plaines, a Chicago suburb just north of the O’Hare International Airport. The sales price was undisclosed. CEVA Logistics, a global logistics and supply chain company, uses the facility for distribution and sorting. The property is located on Mount Prospect Road. Jeff Devine and Steve Disse of Colliers represented the seller, James Campbell Co. California-based LBA Realty was the buyer.
CHICAGO — Greystar has broken ground on its first high-rise apartment development in downtown Chicago. Located at 166 N. Aberdeen St., the 20-story building will include 223 units, 23 of which will be designated as affordable housing. Plans call for a third-floor amenity level with a 5,650-square-foot outdoor deck that will include a pool, lawn and lounge areas as well as access to the coworking and fitness area. An outdoor lounge on the 14th floor will offer views of the Chicago skyline. Completion is slated for March 2023. SCB is the project architect. Associated Bank arranged a $59.7 million loan for the project through ServisFirst Bank and Old Second National Bank.
BEDFORD PARK, ILL. — MDH Partners has acquired a 1.3 million-square-foot industrial portfolio in Bedford Park, an industrial suburb of Chicago. The purchase price was undisclosed. The portfolio comprises six buildings and one trailer lot. The buildings range in size from 120,000 to 380,000 square feet and feature clear heights from 22 to 28 feet. The portfolio is 96 percent leased to seven tenants, including Heligear Acquisition Co., Trimark Marlinn, Power Stop, Nexus Distribution, Westrock CP and Bus & Truck of Chicago Inc. FedEx Ground Package Systems Inc. leases the 150-stall trailer lot. The acquisition represents MDH’s entrance into the Chicago market. Houston Hawley led the acquisition for MDH. CBRE represented the undisclosed seller.
TINLEY PARK, ILL. — Scannell Properties has unveiled plans to develop Tinley Business Park, a 1.3 million-square-foot speculative industrial project in Tinley Park, a southwest suburb of Chicago. The three-building development will offer immediate access to I-80, I-57 and I-294. The two larger buildings will feature a clear height of 36 feet, while the smaller building will feature a clear height of 32 feet. All buildings will have ample trailer and automobile parking. Construction is expected to begin next year. Sam Durkin, Scott Duerkop and Conor Mullady of JLL will market the project for lease.
ST. CHARLES, ILL. — Darwin Realty/CORFAC International has brokered the sale of 13,418-square-foot warehouse in St. Charles, about 40 miles west of Chicago. Located at 860 Equity Drive, the property was built in 2006 and features a clear height of 18 feet, one dock door and one drive-in door. The building is utilized as a showroom and for storage space. Brendan Sheahan and Frank Damato of Darwin represented the buyer, a private investor. Ryan Corcoran of Corcoran Commercial Real Estate represented the seller, Pillar of Cloud LLC.
BATAVIA, ILL. — Lee & Associates of Illinois has brokered the sales of two industrial buildings totaling 78,248 square feet in the Chicago suburb of Batavia. The sales prices were undisclosed. In the first transaction, a 58,286-square-foot facility at 400-500 N. Raddant Road sold to MJM Intergalactic Properties. Michael Androwich Jr. of Lee & Associates represented the seller, Clark Tile. Mike Antonelli of Brown Commercial represented the buyer. In the second transaction, a 19,962-square-foot building at 1141 N. Raddant Road sold to Green Land Technologies. Androwich brokered the transaction and represented the seller, Papa Nicholas.