Ridgeline Property Group Unveils Plans for 416-Acre Logistics Park in Minooka, Illinois

MINOOKA, ILL. — Ridgeline Property Group has unveiled plans to develop I-80 Logistics Park, a 416-acre logistics and rail park in Minooka, about 13 miles southwest of Joliet. The site can support more than 7 million square feet of Class A industrial space. Ridgeline plans to break ground on the first building this spring. The 1.1 million-square-foot facility will feature a clear height of 40 feet, 241 exterior docks, four drive-in doors, 766 car parking stalls and 434 trailer stalls. …

January 20, 2022Development, Illinois, Industrial, Midwest

CRG, Venture One Break Ground on 897,000 SF Industrial Build-to-Suit in University Park, Illinois

UNIVERSITY PARK, ILL. — CRG and Venture One Real Estate have broken ground on an 897,000-square-foot industrial build-to-suit for Central Steel & Wire Co. (CS&W) at Gateway 57 Business Park in University Park, a southern suburb of Chicago. The new facility will serve as the headquarters and operations hub for CS&W, which is a metals distributor and fabricator. The project is the third development within Gateway 57, a 355-acre industrial park located at the southeast corner of …

January 20, 2022Development, Illinois, Industrial, Midwest

JLL Arranges Sale of Two-Building Office Portfolio in Downers Grove, Illinois

DOWNERS GROVE, ILL. — JLL Capital Markets has arranged the sale of Corridors I and II, a two-building office portfolio totaling 301,606 square feet in the Chicago suburb of Downers Grove. The sales price was undisclosed. Built in the late 1990s, the properties are located at 2651 and 2655 Warrenville Road with immediate access to I-88 and I-355. The five-story buildings are fully leased to tenants such as Huntington, Oak Street Health and Citgo. Amenities include a fitness center, conference …

January 20, 2022Acquisitions, Illinois, Midwest, Office

Colliers Brokers Sale of 400,000 SF Distribution Center in Rochelle, Illinois

ROCHELLE, ILL. — Colliers has brokered the sale of a 400,000-square-foot distribution center located at 101 N. Centerpoint Drive in Rochelle, about 25 miles south of Rockford. The sales price was undisclosed. Situated on 21 acres, the building features a clear height of 30 feet, 40 truck docks and 79 trailer spots. The facility is fully leased to global toy manufacturer TOMY, which has been the sole occupant since the building’s completion in 2004. Jeff Devine and Steve Disse of Colliers …

January 18, 2022Acquisitions, Illinois, Industrial, Midwest

Monarch Realty Partners Negotiates $13.6M Sale of Apartment Building in Libertyville, Illinois

LIBERTYVILLE, ILL. — Monarch Realty Partners has negotiated the $13.6 million sale of The Manchester in Libertyville, a northern suburb of Chicago. The property includes 34 luxury apartment units, five commercial spaces, a parking garage with 36 spaces and an additional 37 outdoor parking spaces. Located at 115 Lake St. and originally constructed in 2008, the building was renovated in 2016. Bill Baumann and Michael Anguiano of Monarch brokered the sale. Buyer and seller information was not …

January 18, 2022Acquisitions, Illinois, Midwest, Multifamily

Habitat Co., P3 Markets Break Ground on $100M Mixed-Income Community in Chicago

CHICAGO — The Habitat Co. and P3 Markets have broken ground on 43 Green, a $100 million mixed-income apartment community in Chicago’s Bronzeville neighborhood. The transit-oriented development will be located on a long-vacant, city-owned lot on the northeast corner of East 43rd Street and Calumet Avenue.Phase I will consist of a 10-story building with 99 units and 5,500 square feet of retail space. Half of the residences will be market-rate while the other half will be income-restricted …

January 17, 2022Affordable Housing, Development, Illinois, Midwest, Multifamily

Bridge Industrial Acquires Former Progress Rail Site in McCook, Illinois, Plans 1.2 MSF Development

MCCOOK, ILL. — Bridge Industrial has acquired 87 acres in McCook that was previously home to Caterpillar manufacturer Progress Rail. Bridge plans to build two industrial buildings totaling nearly 1.2 million square feet on the site. Progress Rail downsized its footprint and will continue to operate on the remainder of the area not sold to Bridge. Demolition of existing structures is scheduled to begin this month. Completion of the project is slated for mid-2023.The larger building, …

January 17, 2022Acquisitions, Development, Illinois, Industrial, Midwest

JLL Income Property Trust Purchases Suburban Chicago Distribution Center for $47M

ELGIN, ILL. — JLL Income Property Trust has purchased a two-building distribution center in the northwest Chicago suburb of Elgin for $47 million. Constructed in 2020, the buildings total 407,000 square feet. The larger building features a clear height of 33 feet, while the smaller one features a clear height of 29 feet. Both facilities are fully leased. The seller was

January 17, 2022Acquisitions, Illinois, Industrial, Midwest

Barstool Sports Opens 8,500 SF Sports Bar in Chicago’s River North

CHICAGO — Barstool Sports has opened a new sports bar at 14 W. Hubbard St. in Chicago’s River North. This is the first sports bar for Barstool Sports, which is a brand founded by Dave Portnoy and owned by Penn National Gaming (NASDAQ: PENN). The 8,500-square-foot space was formerly home to Henry’s Swing Club. DynaProp Development Corp. owns the property. Michael Weber and Ian Feinerman of @properties Commercial represented SBH Chi LLC, an entity affiliated with Stanton & Bowery …

January 17, 2022Illinois, Leasing Activity, Midwest, Restaurant, Retail

Meade, Central States Trucking Sign Leases at Industrial Park in Chicago

CHICAGO — Meade Inc. and Central States Trucking have signed leases to occupy space at a three-building industrial park located at 2217 S. Loomis St. in Chicago. Dayton Street Partners owns the property, which is now fully leased. Meade will occupy 25,326 square feet while Central States Trucking will lease 4,000 square feet. Kevin Segerson and Philip DeBoer of CBRE and Peter Poulos of Peter J. Real Estate represented the

January 14, 2022Illinois, Industrial, Leasing Activity, Midwest