Illinois

Colliers Brokers Sale of Two-Building Industrial Facility Near O’Hare Airport

by Kristin Harlow October 22, 2021

DES PLAINES, ILL. — Colliers Chicago has brokered the sale of the CEVA O’Hare Distribution Complex, a two-building industrial facility totaling 228,603 square feet in Des Plaines, a Chicago suburb just north of the O’Hare International Airport. The sales price was undisclosed. CEVA Logistics, a global logistics and supply chain company, uses the facility for distribution and sorting. The property is located on Mount Prospect Road. Jeff Devine and Steve Disse of Colliers represented the seller, James Campbell Co. California-based LBA Realty was the buyer.

October 22, 2021

Development Illinois Midwest Multifamily

Greystar Breaks Ground on its First High-Rise Apartment Tower in Downtown Chicago

by Kristin Harlow October 21, 2021

CHICAGO — Greystar has broken ground on its first high-rise apartment development in downtown Chicago. Located at 166 N. Aberdeen St., the 20-story building will include 223 units, 23 of which will be designated as affordable housing. Plans call for a third-floor amenity level with a 5,650-square-foot outdoor deck that will include a pool, lawn and lounge areas as well as access to the coworking and fitness area. An outdoor lounge on the 14th floor will offer views of the Chicago skyline. Completion is slated for March 2023. SCB is the project architect. Associated Bank arranged a $59.7 million loan for the project through ServisFirst Bank and Old Second National Bank.

October 21, 2021

Acquisitions Illinois Industrial Midwest

MDH Partners Acquires 1.3 MSF Industrial Portfolio in Bedford Park, Illinois

by Kristin Harlow October 21, 2021

BEDFORD PARK, ILL. — MDH Partners has acquired a 1.3 million-square-foot industrial portfolio in Bedford Park, an industrial suburb of Chicago. The purchase price was undisclosed. The portfolio comprises six buildings and one trailer lot. The buildings range in size from 120,000 to 380,000 square feet and feature clear heights from 22 to 28 feet. The portfolio is 96 percent leased to seven tenants, including Heligear Acquisition Co., Trimark Marlinn, Power Stop, Nexus Distribution, Westrock CP and Bus & Truck of Chicago Inc. FedEx Ground Package Systems Inc. leases the 150-stall trailer lot. The acquisition represents MDH’s entrance into the Chicago market. Houston Hawley led the acquisition for MDH. CBRE represented the undisclosed seller.

October 21, 2021

Development Illinois Industrial Midwest

Scannell to Build 1.3 MSF Spec Industrial Development in Tinley Park, Illinois

by Kristin Harlow October 20, 2021

TINLEY PARK, ILL. — Scannell Properties has unveiled plans to develop Tinley Business Park, a 1.3 million-square-foot speculative industrial project in Tinley Park, a southwest suburb of Chicago. The three-building development will offer immediate access to I-80, I-57 and I-294. The two larger buildings will feature a clear height of 36 feet, while the smaller building will feature a clear height of 32 feet. All buildings will have ample trailer and automobile parking. Construction is expected to begin next year. Sam Durkin, Scott Duerkop and Conor Mullady of JLL will market the project for lease.

October 20, 2021

Acquisitions Illinois Industrial Midwest

Darwin Realty/CORFAC International Brokers Sale of 13,418 SF Warehouse in St. Charles, Illinois

by Kristin Harlow October 20, 2021

ST. CHARLES, ILL. — Darwin Realty/CORFAC International has brokered the sale of 13,418-square-foot warehouse in St. Charles, about 40 miles west of Chicago. Located at 860 Equity Drive, the property was built in 2006 and features a clear height of 18 feet, one dock door and one drive-in door. The building is utilized as a showroom and for storage space. Brendan Sheahan and Frank Damato of Darwin represented the buyer, a private investor. Ryan Corcoran of Corcoran Commercial Real Estate represented the seller, Pillar of Cloud LLC.

October 20, 2021

Acquisitions Illinois Industrial Lee & Associates Midwest

Lee & Associates Brokers Sales of Two Industrial Buildings Totaling 78,248 SF in Batavia, Illinois

by Kristin Harlow October 19, 2021

BATAVIA, ILL. — Lee & Associates of Illinois has brokered the sales of two industrial buildings totaling 78,248 square feet in the Chicago suburb of Batavia. The sales prices were undisclosed. In the first transaction, a 58,286-square-foot facility at 400-500 N. Raddant Road sold to MJM Intergalactic Properties. Michael Androwich Jr. of Lee & Associates represented the seller, Clark Tile. Mike Antonelli of Brown Commercial represented the buyer. In the second transaction, a 19,962-square-foot building at 1141 N. Raddant Road sold to Green Land Technologies. Androwich brokered the transaction and represented the seller, Papa Nicholas.

October 19, 2021

Acquisitions Illinois Industrial Midwest

E. Formella & Sons to Relocate Operations to 45,594 SF Facility in Oak Forest, Illinois

by Kristin Harlow October 19, 2021

OAK FOREST, ILL. — E. Formella & Sons, a global condiment manufacturing company, has sold its 32,880-square-foot facility at 411 E. Plainfield Road in Countryside, Ill. The company has since purchased a 45,594-square-foot property at 16425 S. Kilbourn Ave. in Oak Forest. Sales prices were not provided. Terri Alexander of Transwestern represented E. Formella in the sale of its former property. Alexander, along with colleague Alex Genova, represented E. Formella in its site selection and purchase of the new facility. Chet Evans and Kiefer Price of Hilco Real Estate represented American Blue Ribbon Holdings LLC, which was the seller of the Oak Forest property. Countryside KC LLC purchased the Countryside facility.

October 19, 2021

Illinois Leasing Activity Midwest Office

Farmer’s Business Network Signs 43,000 SF Office Lease in Chicago’s Fulton Market

by Kristin Harlow October 19, 2021

CHICAGO — Farmer’s Business Network (FBN) has signed a 43,000-square-foot office lease at 1320 W. Fulton St. in Chicago’s Fulton Market district. The company will take occupancy of the entire third and fourth floors. Originally built in 1916 to house a Chicago Fire station, the building spans 121,000 square feet. Jeff Newcom and Holly Duran of Colliers Chicago represented FBN in the lease. FBN is an ag-tech platform and farmer-to-farmer network with a mission to help reduce the cost of production and maximize value of farmers’ crops.

October 19, 2021

Acquisitions Illinois Indiana Industrial Midwest

Industrial Outdoor Ventures Acquires Two Properties Totaling 62,000 SF in Illinois, Indiana

by Kristin Harlow October 18, 2021

AURORA, ILL. AND WHITESTOWN, IND. — Industrial Outdoor Ventures (IOV) has acquired a 39,450-square-foot property at 1401 N. Farnsworth Ave. in Aurora as well as a 22,500-square-foot facility at 4212 Perry Blvd. in Whitestown. The seller and purchase price were undisclosed. IOV owns properties in the outdoor storage facility space. Both of these properties are designed for truck maintenance and repair and are fully occupied by MacQueen, an environmental and emergency service and products provider. Kate Coxworth, Dominic Carbonari and Frank Griffin of JLL represented IOV in the acquisition.

October 18, 2021

Illinois Leasing Activity Midwest Restaurant Retail

Tatas Tacos, Hops & Scotch to Open at The Cooper in Chicago

by Kristin Harlow October 18, 2021

CHICAGO — Tatas Tacos and Hops & Scotch are the first retail tenants announced for The Cooper, a 29-story luxury apartment tower located at 720 S. Wells St. in Chicago’s Printers Row. Tatas Tacos will open its fourth Chicago restaurant, while Hops & Scotch, a new bottle shop concept from the owners behind South Loop Market, will open its first location. Tatas Tacos, which is slated to open in spring 2022, will occupy 5,643 square feet on the northern end of the tower. Hops & Scotch is scheduled to open later this year. The 1,286-square-foot store will offer a selection of beers, wines and spirits. Delivered in 2018, The Cooper is the first phase of Lendlease’s seven-acre Southbank development.

October 18, 2021

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