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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Arranges $3.2M Sale of Apartment Building in Chicago’s West Ridge

by Kristin Harlow

CHICAGO — Interra Realty has arranged the $3.2 million sale of a 16-unit apartment building in Chicago’s West Ridge neighborhood. Constructed in 1931 and renovated in 2023, the property at 6254 N. Whipple St. features two-bedroom units. The building was fully occupied at the time of sale. Brad Feldman of Interra represented the buyer and seller, both of which were local private investors. Feldman also assisted the seller in the original $1.8 million acquisition of the asset in 2023. At that time, the property had not changed hands in more than 50 years and needed significant upgrades. The seller’s investment equated to a nearly $85,000 increase in price per unit and increased rents.

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AcquisitionsIllinoisIndustrialMidwest

Greenstone Partners Brokers $18M Sale of Flex Industrial Property in Skokie, Illinois

by Kristin Harlow

SKOKIE, ILL. — Greenstone Partners has brokered the $18 million sale of the WiFi Tech Center, a multi-tenant, flex industrial property totaling 183,000 square feet in Skokie. The historical occupancy for the asset has averaged 95 percent over the past 20 years. The tenant mix is comprised of national and local companies with the typical space ranging from 3,000 to 15,000 square feet. Danny Spitz of Greenstone represented both the seller, a local private investor, and the buyer, a California-based private investor.

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DevelopmentIllinoisIndustrialMidwest

Seefried Breaks Ground on 64,421 SF Spec Industrial Development in Woodridge, Illinois

by Kristin Harlow

WOODRIDGE, ILL. — Seefried Industrial Properties has broken ground on a 64,421-square-foot speculative industrial development at 10321 Beaudin Blvd. in Woodridge. The Class A facility is designed to serve a wide range of industrial users and will be available for sale or lease upon completion, which is slated for the first quarter of 2026. Situated on a 3.8-acre site within the International Business Center, the building will include 13 exterior docks, two drive-in doors, a clear height of 32 feet, 68 car parking stalls and office build-to-suit space. Divisible to 25,000 square feet, the building is designed to serve both single and multi-tenant users. The project site provides convenient access to the I-55 and I-355 interchanges. Rowan McDonnell, Traci Payette and Stephanie Park of CBRE are marketing the development for sale or lease. The project team includes Keeley Construction, Harris Architects Inc. and Jacob & Hefner Associates Inc. as civil engineer.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Negotiates $14.6M Sale of Retail Center in Schaumburg, Illinois

by Kristin Harlow

SCHAUMBURG, ILL. — Marcus & Millichap has negotiated the $14.6 million sale of a 35-suite retail center in the Chicago suburb of Schaumburg. Located at 1170 S. Roselle Road, the 114,476-square-foot property was built in 1988 and sits on 12.8 acres. The anchor tenant is KD Market, a Chicagoland grocer that recently signed a 10-year lease extension. Tenants have an average operating history of 12 years, with a mix of medical, wellness, restaurant and service providers. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, an overseas-based family who has owned the property for 32 years. The buyer was a Chicago-based private investment group.

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AcquisitionsIllinoisIndustrialMidwest

JLL Arranges Sale of 73,150 SF Industrial Property in Vernon Hills, Illinois

by Kristin Harlow

VERNON HILLS, ILL. — JLL Capital Markets has arranged the sale of a 73,150-square-foot light industrial property in the Chicago suburb of Vernon Hills. Built in 1990 on 4.4 acres, the facility features a clear height of 24 feet, three interior recessed loading docks, three drive-in doors and 227 parking stalls. The building is currently fully leased to four tenants with a 5.2-year contractual weighted average lease term. The tenant roster spans home appliance, sports and recreation, and water and wastewater treatment industries. Each user has invested significantly in specialized build-outs for their spaces. The property is situated within Continental Executive Parke, a 600-acre master-planned business park originally developed by Prentiss Properties. Kurt Sarbaugh and Jaime Fink of JLL represented the seller, JMS Capital Group. Wisconsin-based Luther Group was the buyer.

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AcquisitionsIllinoisMidwestMultifamily

Essex Realty Group Brokers $1.7M Sale of Apartment Building in Summit, Illinois

by Kristin Harlow

SUMMIT, ILL. — Essex Realty Group LLC has brokered the $1.7 million sale of an apartment building located at 7349 W. 57th St. in Summit, a southwest suburb of Chicago. The property features 17 one-bedroom units, 15 of which have been recently renovated. Anthony Citriglia of Essex brokered the sale.

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AcquisitionsIllinoisMidwestMultifamily

Marcus & Millichap Brokers $7.9M Sale of Chicago Multifamily Portfolio

by Kristin Harlow

CHICAGO — Marcus & Millichap has brokered the $7.9 million sale of a six-property, 38-unit multifamily portfolio in Chicago’s Noble Square neighborhood. The assets are located at 1516 N. Greenview Ave., 1452 N. Greenview Ave., 1350 N. Greenview Ave., 1302 N. Cleaver St., 1362 W. Crystal St. and 1049 N. Marshfield Ave. The properties feature a mix of one-, two- and three-bedroom units, many of which have been recently renovated. The portfolio also includes 10 income-producing garage spaces. Tyler Preissing and James Ziegler of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a local investment group.

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AcquisitionsDevelopmentIllinoisLee & AssociatesMidwestMultifamily

Lee & Associates Negotiates $6.5M Sale of Multifamily Development Site in South Elgin, Illinois

by Kristin Harlow

SOUTH ELGIN, ILL. — Lee & Associates of Illinois has negotiated the $6.5 million sale of 84.4 acres of residential land at 325 Umbdenstock Road in South Elgin. John Cassidy, Jay Farnam and Ken Franzese of Lee & Associates represented the seller, Spohr Family Trust. The buyer, Lennar/CalAtlantic Group LLC, was self-represented. The site was previously marketed for an industrial use for more than a decade, according to Farnam. Lee & Associates secured a residential home builder to purchase the site and worked with the village on a land entitlement and approval process.

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AcquisitionsHealthcareIllinoisMidwestOffice

Greenstone Partners Arranges $6.1M Sale of Medical Office Building in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Greenstone Partners has arranged the $6.1 million sale of 1952 McDowell Road, a 55,000-square-foot medical and office building in the Chicago suburb of Naperville. The anchor tenant is Advanced Behavioral Health Services, which occupies the entire third floor and recently extended its lease through 2029. The asset was 86 percent leased at the time of sale. Jason St. John and AJ Patel of Greenstone represented the seller, a Naperville-based office operator. An outside broker represented the buyer, a local investor.

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DevelopmentIllinoisIndustrialMidwest

Peak Construction to Complete Two Tenant Improvement Projects at 1 MSF Industrial Building in Joliet, Illinois

by Kristin Harlow

JOLIET, ILL. — Peak Construction Corp. will complete two tenant improvement projects at NorthPoint Development’s Third Coast Intermodal Hub Building 1 in Joliet. The first build-out totals 303,053 square feet and features a clear height of 40 feet, 25 dock doors, one drive-in door, 59 trailer stalls, 164 car spaces, 2,500 square feet of office space and two remote restrooms. The second project is an expansion for an existing tenant for whom Peak previously built out its space. The expansion adds 431,627 square feet with a clear height of 40 feet, 49 dock doors, one drive-in door, 97 trailer stalls, 204 car spaces, 5,500 square feet of office space and a remote restroom. Both projects are slated for completion in fourth-quarter 2025. The architect is studioNorth. Peak completed construction of the 1 million-square-foot building in 2024.

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