Tuesday, March 17, 2026
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CSL Breaks Ground on $1.5B Expansion of Pharmaceutical Manufacturing Campus in Kankakee, Illinois

by John Nelson

KANKAKEE, ILL. — CSL, a global pharmaceutical manufacturer based in Melbourne, Australia, has broken ground on a $1.5 billion expansion of its campus in Kankakee, roughly 60 miles southwest of Chicago. The company has operated at the site since purchasing the former Armour Pharmaceutical Co. plant in 2004, according to multiple media outlets. CSL is developing a new 330,000-square-foot facility at the site that will generate 300 permanent jobs and 800 construction jobs, in addition to the 1,200 existing positions at the plant. The new investment builds on the $3 billion that CSL has invested in the United States since 2018, which has created more than 6,500 American jobs. “Illinois is leading the way in life sciences manufacturing, and CSL’s $1.5 billion investment is a powerful vote of confidence in our state,” said Illinois Gov. JB Pritzker in a statement. “CSL’s continued growth in Kankakee County builds on decades of innovation and manufacturing leadership right here in Illinois. We’re proud to partner with CSL as they expand their footprint and deepen their commitment to communities across our state.” The Kankakee campus is expected to supply 100 percent of the U.S. demand for immunoglobulin therapies (i.e., plasma-derived antibodies treatments), according to CSL. …

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IllinoisLeasing ActivityMidwestOffice

Transwestern Negotiates 72,645 SF Office Lease at Michigan Plaza in Chicago

by Kristin Harlow

CHICAGO — Transwestern has negotiated a 72,645-square-foot office lease at Michigan Plaza in Chicago. Mark Buth, Kathleen Bertrand and Steve Hennessy of Transwestern represented the landlord, Aegis Asset Management. Jeff Lindenmeyer, Chris O’Leary and Shannon Connerty Morris of Avison Young represented the tenant, the Illinois Housing Development Authority (IHDA). Transwestern also manages the nearly 2 million-square-foot complex. IHDA will occupy space in the 978,693-square-foot 225 N. Michigan Ave. building. The transaction marks the largest new lease in the East Loop submarket since the second quarter of 2023, according to Transwestern. Located on Michigan Avenue south of the Chicago River, Michigan Plaza offers amenities such as multiple tenant lounges, a fitness center and outdoor space. The second-floor lounge is connected to the East Plaza, an outdoor terrace with a bocce ball court and putting green. The third-floor lounge offers a kitchen and conferencing space.

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DevelopmentIllinoisLoansMidwestMultifamily

Associated Bank Provides $7.6M Construction Loan for Chicago Apartment Building

by Kristin Harlow

CHICAGO — Associated Bank has provided a $7.6 million construction loan for a five-story, 40-unit apartment building located at 4725 N. Clifton Ave. in Chicago. CEDARst Cos. is developing the transit-oriented project, which is named Clifton Uptown. Located in the heart of the Uptown Square Historic District, the property will feature 12 studio units, 28 one-bedroom units and 1,839 square feet of ground-floor retail space. The site is adjacent to the CTA Red Line Lawrence Station that is in the final stages of a $2.1 billion Red and Purple Line modernization project. Daniel Barrins of Associated Bank managed the loan arrangements and closing.

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AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of 131,748 SF Grocery-Anchored Retail Property in Chicago

by Kristin Harlow

CHICAGO — Mid-America Real Estate Corp. has brokered the sale of 3030 North Broadway, a Mariano’s-anchored retail property serving Chicago’s Lakeview and Lincoln Park neighborhoods. Additional tenants at the five-story, 131,748-square-foot asset include Club Studio, PNC, Starbucks and Fresh Dental. Ben Wineman and Joe Girardi of Mid-America represented the seller, SITE Centers. The buyer was L3 Capital.

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DevelopmentIllinoisIndustrialMidwest

PREMIER Breaks Ground on 82,125 SF Manufacturing Facility for Linx in Niles, Illinois

by Kristin Harlow

NILES, ILL. — PREMIER has broken ground on a manufacturing facility for Linx Global in Niles. The 82,125-square-foot building features an additional 18,000-square-foot production mezzanine. Linx is a global product development and contract manufacturing company. The new facility will grow Linx’s R&D operations and deepen its footprint in medical, advanced packaging and electromechanical assembly space. The project will house a range of specialized manufacturing and research spaces, including a wet lab, quality control lab, 3D print room and dedicated support areas. The office areas will include conference rooms, private offices, breakout rooms and open workspaces. Employees will have access to a café and green roof deck with a walking path, outdoor kitchen and gas fire pit. The project team includes Heitman Architects, Spaceco Inc., MK Industries Inc., Swift Structural Design and Connelly Electric. Substantial completion is slated for the first quarter of 2027.

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AcquisitionsIllinoisMidwestRetail

JLL Brokers Sale of Overlook at Oakbrook Retail Center in Metro Chicago for $44M

by Kristin Harlow

OAK BROOK, ILL. — JLL Capital Markets has brokered the $44 million sale of Overlook at Oakbrook, an unanchored retail strip center in Oak Brook that was constructed in 2023 and is located across from Oakbrook Center shopping mall. The property totals 52,876 square feet across seven buildings. The asset is 94 percent occupied by 13 tenants, including Lazy Dog Restaurant and Bar, Panera Bread, Veterinary Emergency Group and Guidepost Montessori. The property features 80 percent national tenancy with no single tenant representing more than 20 percent of income. Michael Nieder, Brian Page and Alex Sharrin of JLL represented the seller, MetLife Investment Management, and procured the buyer, a real estate fund advised by Crow Holdings Capital.

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AcquisitionsIllinoisIndustrialLoansMidwest

JLL Secures $35.6M in Acquisition Financing for Metro Chicago Industrial Portfolio

by Kristin Harlow

CHICAGO — JLL Capital Markets has secured $35.6 million in acquisition financing for the Chicago Infill Industrial Seed Portfolio, a collection of four shallow-bay assets totaling 411,781 square feet in the O’Hare, Northwest Cook and North DuPage submarkets. Danny Kaufman, Lucas Borges, Mary Dooley, Emma Berner and Annie Thomas of JLL represented the borrower, a newly formed joint venture between Matterhorn Venture Partners and TPG Angelo Gordon U.S. Real Estate. The transaction represents the initial investment for the joint venture, which is targeting value-add Midwest industrial acquisitions. Built in the mid-1980s, the portfolio features clear heights ranging from 18 to 24 feet, 30 dock doors and four drive-in doors across the four buildings.

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AcquisitionsIllinoisMidwestOffice

Greenstone Partners Arranges $8.9M Sale of Office Complex in Lake Forest, Illinois

by Kristin Harlow

LAKE FOREST, ILL. — Greenstone Partners has arranged the $8.9 million sale of Conway Park, a 225,000-square-foot office complex in the northern Chicago suburb of Lake Forest. Danny Spitz of Greenstone represented the buyer, The STG Group, a private real estate investment group based in Petaluma, Calif. Matthew Tarshis, Andrew Rubin, Andrew Picchietti, Zack Pearlstein and Andrew Slovis of Frontline Real Estate Partners represented the undisclosed seller. The property is currently 43 percent leased. Three of the five largest tenants have lease terms extending through 2030 and beyond.

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DevelopmentIllinoisIndustrialLeasing ActivityMidwest

TCC Leases Phase I, Plans Phase II of Plainfield Business Center in Metro Chicago

by Kristin Harlow

PLAINFIELD, ILL. — Trammell Crow. Co. (TCC) has announced a full-building lease and plans for Phase II of Plainfield Business Center in Plainfield, about 40 miles southwest of downtown Chicago. RJW Logistics Group has leased Building 1, which totals 788,000 square feet. TCC plans to break ground on Building 2 in the second quarter. That building will also total 788,000 square feet. RJW is a retail-focused logistics and supply chain solutions provider. The Woodridge, Ill.-based company operates more than 16 distribution centers across Illinois, Texas and Pennsylvania. Dominic Carbonari of JLL represented RJW in its lease negotiations. Matt Mulvihill and Phil DeBoer of CBRE represented the landlord. Building 2, which is being built on a speculative basis, will sit on 46 acres and feature a clear height of 40 feet, 80 dock doors expandable to 156 and 211 trailer parking stalls. The site offers proximity to both I-55 and I-80. At full build-out, Plainfield Business Center will encompass more than 8 million square feet of industrial space. Harris Architects designed Plainfield Business Center, and Krusinski Construction Co. was the general contractor for Phase I. Kimley-Horn is the civil engineer.

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DevelopmentIllinoisMidwestOffice

Skender Completes 230,000 SF Interior Construction of Invenergy Headquarters Expansion in Chicago

by Kristin Harlow

CHICAGO — Skender has completed the 230,000-square-foot build-out of Invenergy’s One South Wacker Drive headquarters in Chicago. The developer, owner and operator of power infrastructure originally occupied floors 18, 19 and 20. Skender completed upgrades to those floors in addition to the demolition and full construction of five additional floors (14-17). The project team included Lumen Workplace as owner’s representative, Partners by Design as architect and Syska Hennessy as engineer. Skender completed the build-out and renovation in three phases over the course of 12 months. The open-office concept features a three-floor atrium stair, two roof decks, a large café and an 8,000-square-foot control center for managing global power markets and operations. Floor 15 now serves as the heart of the workplace with a new reception area and boardroom.

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