CHICAGO — VTS, a leasing, marketing and asset management platform for the commercial real estate industry, has signed a 35,914-square-foot office lease at 320 N. Sangamon in Chicago’s Fulton Market district. Tishman Speyer owns the 13-story building, which was completed last year. Robert Sevim, Jim Wenk, Cullen Hurley and Allison Buck of Savills represented VTS. Since its acquisition of Chicago-based Rise Buildings in March 2021, VTS has been growing its employee count and customer base within the Chicago area and outgrew its previous space at 312 N. May. In addition to its corporate headquarters in New York, VTS maintains offices in San Francisco, Los Angeles, Austin, London and Toronto.
CICERO, ILL. — Cawley Chicago has arranged the sale of a 130,000-square-foot manufacturing facility in Cicero for an undisclosed price. The property sits on more than three acres at 4620 W. 19th St. Frank Melchert and Matt Garland of Cawley Chicago represented the seller, a private individual who had operated a business at the property for 31 years. Local business and metal fabricator Accurate Perforating Co. was the buyer.
ST. CHARLES, ILL. — Marcus & Millichap has brokered the sale of Fox Run Apartments in St. Charles, about 40 miles west of Chicago. The sales price was undisclosed. The 220-unit apartment complex was built in 1971 and underwent a renovation program in 2008. Amenities include a pool, 342 parking spaces and four laundry facilities. Roughly 95 percent of the units feature updated kitchens, bathrooms and flooring. Ryan Engle, Andrean Angelov and Zack Mahoney of Marcus & Millichap represented the seller and procured the buyer, neither of which were disclosed.
CRESTWOOD, ILL. — A joint venture between Clear Height Properties and Harbert US Real Estate, an investment fund sponsored by Harbert Management Corp., has acquired a four-building industrial portfolio in the Chicago suburb of Crestwood for an undisclosed price. The portfolio spans 131,733 square feet and is 88 percent leased to 19 tenants. The buildings were constructed between 1989 and 1991. Walter Murphy of Lee & Associates represented the undisclosed seller.
WAUKEGAN, ILL. — Nonprofit developer Over the Rainbow (OTR) has selected McShane Construction Co. to build Kirwan Apartments, a 24-unit affordable housing community in Waukegan. The project is designed to enable adults with physical disabilities to live independently. The development is named for Leo Kirwan, an OTR board member and advocate for accessible housing. The three-story building will feature one-bedroom residences, and amenities will include a community room, laundry facilities and 20 parking spaces. Completion is slated for January 2023. Weese Langley Weese Architects is providing architectural services. OTR apartments are specifically designed for low-income individuals with physical disabilities and come with rental subsidies.
CHICAGO — Axiom Consulting Partners has expanded its office lease at 200 West Adams in Chicago’s central business district. The firm committed to a 19,954-square-foot lease, which marks a 10,000-square-foot expansion from the current space. Tony Karmin of Colliers and Michael Marrion of Cresa represented Axiom, which advises senior leaders of Fortune 500 and major professional firms on revenue growth opportunities and strategies. Completed in 1985 and renovated in 2017, 200 West Adams is a 30-story office tower.
BLOOMINGDALE, ILL. — PlattPointe Capital has arranged a $3.8 million loan for the acquisition of Indian Lakes Hotel in the Chicago suburb of Bloomingdale. The six-story, 300-room hotel sits on nearly 15 acres. The borrower plans to rebrand the property as a Hilton DoubleTree. An undisclosed lender provided the 66-month loan, which features a 72 percent loan-to-value ratio. The loan marks Denver-based PlattPointe Capital’s first transaction in the Chicagoland area.
HILLSIDE, ILL. — Brown Commercial Group has negotiated the sale of a 26,209-square-foot industrial building in Hillside, a western suburb of Chicago. The fully leased property is located at 500 N. Mannheim Road and was built in 1970. Pat Crowley of Brown represented the private buyer, while Jack Brown of Marcus & Millichap represented the seller. Further terms of the transaction were not disclosed.
GLENDALE HEIGHTS, ILL. — Lee & Associates has negotiated a pair of industrial leases totaling 311,444 square feet in the Chicago suburb of Glendale Heights. Jeff Janda and Michael Plumb of Lee represented owner Link Logistics on two leases at neighboring properties. United Business Mail leased the 150,784-square-foot building at 101 Regency Drive, while a hardware company leased the 160,660-square-foot building at 500 Regency Drive. Steve Kohn of Avison Young represented United Business Mail, while Chris Lydon and Fort Richardson of Avison Young represented the hardware tenant.
LAKE FOREST, ILL. — Marcus & Millichap has brokered the $19.7 million sale of Forest Square in Lake Forest, about 30 miles north of Chicago. The 53,122-square-foot office and retail property is located at 840 S. Waukegan Road and was built in 2008. The building was nearly 90 percent occupied at the time of sale. Tenants include Lake Forest Family Dental, Envision Health, Physical Therapy of Lake Forest, The Hearing Lab, Abbott Laboratories, LoMastro Performing Arts Academy, Lou Malnati’s Pizzeria, Jimmy Johns and Starbucks. Stephen Lieberman of Marcus & Millichap represented the seller, GCP Forest Square LLC. Woodard Properties LLC was the buyer.