Monday, October 13, 2025
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IllinoisLeasing ActivityMidwestOffice

Lee & Associates of Illinois to Relocate to One Lincoln Centre in Oakbrook Terrace

by Kristin Harlow

OAKBROOK TERRACE, ILL. — Lee & Associates of Illinois has signed a long-term office lease at One Lincoln Centre in Oakbrook Terrace. The move, set for third-quarter 2026 occupancy, marks the firm’s first transition out of the Rosemont area since its 2002 inception. Built in 1986, One Lincoln Centre is a 318,000-square-foot property. Lee & Associates of Illinois will occupy space on the 14th floor. The move will accommodate the company’s growth, housing more than 60 employees across its brokerage and Lee Asset Management divisions. The company will remain in its current space at 9450 W. Bryn Mawr Ave. until the relocation. Hamilton Partners, the owner of One Lincoln Centre, was self-represented.

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IllinoisLeasing ActivityMidwestRetail

Sky Zone Signs 40,103 SF Retail Lease at Gurnee Mills Mall in Metro Chicago  

by Kristin Harlow

GURNEE, ILL. — Family entertainment tenant Sky Zone has signed a 40,103-square-foot retail lease at Gurnee Mills Mall in the northern Chicago suburb of Gurnee. Sean McCourt and Alex Corno of CBRE represented the landlord, Simon Property Group. Gurnee Mills Mall is home to more than 200 retail, dining and entertainment options.

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AcquisitionsIllinoisMidwestRetail

Greenstone Partners Brokers $3.6M Sale of Retail Building in Des Plaines, Illinois

by Kristin Harlow

DES PLAINES, ILL. — Greenstone Partners has brokered the $3.6 million sale of a newly constructed, single-tenant retail building occupied by Guzman y Gomez in the Chicago suburb of Des Plaines. The quick-service restaurant specializes in fresh Mexican cuisine. Founded in Australia, the brand has expanded to more than 250 restaurants across Australia, Singapore, Japan and the U.S. The Des Plaines property at 2741 Mannheim Road marks the sixth U.S. location. Brewster Hague and Danny Spitz of Greenstone represented the seller, an Illinois-based developer, and procured the buyer, a local private investor.

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IllinoisLeasing ActivityMidwestOffice

DesignPac Inks 17,447 SF Flex Office Lease in Oak Brook, Illinois

by Kristin Harlow

OAK BROOK, ILL. — DesignPac, a subsidiary of 1-800-Flowers.com Inc., has inked a long-term lease for 17,447 square feet of flex office space at 2100 Swift Drive in the Chicago suburb of Oak Brook. Corey Chase of Newmark represented the tenant, which is a provider of gourmet gift baskets and sets for major retailers across North America. The new space will support the company’s multifaceted operations, including its design studio and showroom, product packaging and light manufacturing. Experimental Holdings owns the three-story, 58,010-square-foot property, which underwent a significant renovation in 2017. Ownership is adding an overhead door to the first floor to create a flex space that will enable the tenant to efficiently move products in and out of the facility. Patrick Kiefer and Dan O’Neill of NAI Hiffman represented the landlord.

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Data CentersDevelopmentIllinoisIndustrialMidwestTop Stories

Related Midwest, CRG Break Ground on Phase I of 440-Acre Quantum Shore Chicago Innovation District

by Kristin Harlow

CHICAGO — Related Midwest and CRG have broken ground on the Illinois Quantum & Microelectronics Park (IQMP), the first phase of Quantum Shore Chicago, a 440-acre, master-planned technology and innovation district along the Chicago lakefront. The project is located on the former U.S. Steel South Works site at 8080 S. DuSable Lake Shore Drive in the South Chicago neighborhood. The co-developers are receiving financing from funds managed by Blue Owl Capital on both the land acquisition and vertical development of facilities for IQMP’s anchor tenant, PsiQuantum, a Palo Alto, Calif.-based company with a mission “to build and deploy the world’s first useful quantum computers.” Quantum computing utilizes quantum mechanics to solve complex problems such as climate, energy and defense challenges faster than traditional computers.  Created through a public-private partnership with State of Illinois and federal agencies, IQMP will occupy 128 acres on the southern end of the development site. In addition to PsiQuantum’s 80,700-square-foot office and research facility — the first of several buildings the firm will eventually occupy — the campus will include a cryoplant (a facility that uses extremely low temperatures to produce gases like liquid helium and nitrogen for high-tech applications) and equipment labs, as well as …

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AcquisitionsIllinoisMidwestRetail

Boulder Group Brokers $4.8M Sale of Slumberland Furniture-Occupied Retail Property in Metro Chicago

by Kristin Harlow

BATAVIA, ILL. — The Boulder Group has brokered the $4.8 million sale of a single-tenant retail property occupied by Slumberland Furniture in the Chicago suburb of Batavia. The 42,676-square-foot building is located at 165 N. Randall Road. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Northeast-based real estate investor. The buyer was an investor based in the Midwest. Founded in 1967 and headquartered in Little Canada, Minn., Slumberland has grown to one of the largest furniture retailers in the Midwest with more than 120 stores in 12 states.

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DevelopmentIllinoisMidwest

City Council Approves New Chicago Fire FC Stadium

by Kristin Harlow

CHICAGO — The Chicago City Council has approved the Chicago Fire FC’s new privately funded stadium. The Major League Soccer franchise first unveiled plans for the $650 million development in June. The soccer-specific stadium will be financed by the club’s owner and chairman, Joe Mansueto. The project will anchor The 78, Related Midwest’s 62-acre development along the Chicago River just south of Roosevelt Road. Designed by Gensler, the stadium will seat approximately 22,000 fans. Construction of The 78 is expected to begin by the beginning of 2026, and the stadium is anticipated to open in 2028. “This will be the first major stadium built in Chicago in three decades,” says Dave Baldwin, Chicago Fire FC president of business operations. “Beyond Chicago Fire matches, the stadium will attract global concerts and events, creating thousands of jobs, fueling economic growth and driving new energy into the South Loop.”

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AcquisitionsIllinoisIndustrialMidwestOhio

Investcorp Completes Disposition of Midwest Industrial Portfolio for $365M

by Kristin Harlow

CHICAGO, CLEVELAND, CINCINNATI AND COLUMBUS — Investcorp has sold a portfolio of Midwest industrial properties for $365 million. The assets total approximately 3.5 million square feet and are located within metro Chicago, Cleveland, Cincinnati and Columbus. The portfolio includes a group of 23 light industrial facilities spanning more than 2 million square feet across Columbus, Cincinnati and Cleveland as well as an eight-building, 1 million-square-foot industrial park located three miles from the Chicago O’Hare International Airport and a 434,000-square-foot distribution facility in metro Cleveland.

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AcquisitionsIllinoisMidwestRetail

JLL Brokers $17.3M Sale of Whole Foods-Occupied Retail Property in Metro Chicago

by Kristin Harlow

ST. CHARLES, ILL. — JLL Capital Markets has brokered the $17.3 million sale of a freestanding retail property occupied by Whole Foods in the western Chicago suburb of St. Charles. The newly renovated building features a 20-year NN lease with the tenant. The property was formerly home to Blue Goose Market, a grocer that operated at the site for nearly a century as downtown St. Charles’ only grocery store. Alex Sharrin, Mohsin Mirza and Torri Rosene of JLL represented the sellers, Swanson Development Group and Fort Union. The buyer was an affiliate of Benenson Capital Partners.

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DevelopmentIllinoisIndustrialMidwest

Opus Breaks Ground on 52,174 SF Build-to-Suit Facility for Elgin Recycling in Gilberts, Illinois

by Kristin Harlow

GILBERTS, ILL. — Opus has broken ground on a 52,174-square-foot build-to-suit facility for Elgin Recycling in Gilberts, about 50 miles northwest of Chicago. The project will be part of Turnberry Lakes Business Park, where Elgin Recycling’s headquarters and one its four Chicago-area recycling scrap yards are also located. Elgin Recycling is a family-owned operation that processes ferrous and non-ferrous metals, exotic alloys and electronics. The new Gilberts location will process recycled electronics from public drop-off facilities, breaking them down into components that will then be transported to electronics components recyclers. The Gilberts facility will feature a clear height of 28 feet, six dock doors, two drive-in doors and up to 58 vehicle parking stalls. Opus is the design-builder for the project and is working in partnership with Architects Plus Design Studio PLLC, the architect of record, and Structural Integrity Inc., the structural engineer of record. Completion is slated for January.

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