WILMINGTON, ILL. — Lee & Associates has negotiated a 500,000-square-foot, full-building industrial lease at 30260 Graaskamp Blvd. in Wilmington, about 60 miles southwest of Chicago. The new building is part of the Elion Logistics Park 55 in Will County. Walter Murhpy of Lee & Associates represented the tenant, Dynamic 3PL. Jeffrey Kapcheck and Jason Lev of CBRE represented the owner and developer, Elion Logistics Partners.
FRANKLIN PARK, ILL. — Colliers International has brokered the sale of a recently built, 99,076-square-foot industrial building in Franklin Park for an undisclosed price. Located at 9300 King Ave., the property was built on a speculative basis and has not yet been leased. Jeff Devine, Steve Disse and Tom Rodeno of Colliers represented the sellers, Clarius Partners and Wanxiang America Real Estate Group. The buyer, Brookfield Property Group, has retained Colliers to serve as leasing agent for the building.
EDWARDSVILLE, ILL. — Sealy & Co. has acquired a 1.1 million-square-foot warehouse in Edwardsville near St. Louis for an undisclosed price. The purchase brings the company’s acquisition volume for 2020 to more than $400 million. The Class A facility is located at 3951 Lakeview Corporate Drive within Lakeview Commerce Center. The business park is situated in the Metro East submarket. The building features a clear height of 32 feet, 96 dock doors and 90 trailer stalls. The current tenant has expanded its presence in recent years within Lakeview Commerce Center and occupies three additional properties, one of which Sealy acquired in January of this year. Michael Caprile and Zach Graham of CBRE brokered the sale. Panattoni Development Co. was the seller.
CHICAGO — Real estate development firm Sterling Bay has licensed space to local fitness startup BOLD, which will open modular fitness pods at 1000 W. Carroll Ave. in Chicago’s Fulton Market. BOLD will enable Chicago residents to reserve private pods outfitted with fitness equipment that are cleaned to commercial-grade standards between each use. Pods can be reserved in 60-minute increments. Each one features kettlebell sets, medicine balls, bikes, rowing machines and high-definition screens for streaming guided workouts. The 320-square-foot pods are made from shipping containers. “In looking at how the pandemic so quickly impacted the ability of traditional fitness studios to operate at full capacity, it became clear that BOLD’s model for small, private training facilities could help to fill a need for Chicago gym-goers,” says Andy Gloor, CEO of Sterling Bay. Former Wall Street hedge fund investor and investment banker Jake Goldstein founded BOLD on the heels of COVID-19 as a way of offering a safe gym option that bridges the gap between physical gym space and digital fitness. BOLD uses filtration units from AEX Technology Solutions to disinfect its pods. Each pod features its own isolated HVAC air filtration system to prevent recycled air. Users are required to …
CHICAGO — SVN Chicago Commercial has brokered the sale of a 35,000-square-foot industrial building in Chicago for an undisclosed price. The property, known as the Pierini Iron Works Building, sits on two acres at 6200 S. Sayre Ave. Beverly Hayes and Daniel Vanchieri of SVN brokered the sale.
ELGIN, ILL. — Entre Commercial Realty has negotiated a 137,522-square-foot industrial lease on behalf of an undisclosed plastics company at Northwest Pointe III in Elgin. The newly constructed building is situated within Northwest Corporate Park and features a customized office buildout. Dan Benassi of Entre represented the tenant. Ken Franzese and John Cassidy of Lee & Associates represented ownership, Conor Commercial Real Estate and Globe Corp. McShane Construction Co. built the building.
CICERO, ILL. — Mag Mile Capital has arranged a $7 million loan for the refinancing of a 997-unit self-storage facility in Cicero, a southwest suburb of Chicago. Located at 1331 S. 55th Court, the property spans 87,000 square feet. The family-owned property was recently rebranded as an Extra Space facility and will undergo improvements such as a new parking area. Prabhat Jayara and Heather Madsen of Mag Mile arranged the 36-month loan on behalf of the borrower, JD3 Property. The lender was undisclosed.
NORTHBROOK, ILL. — IDEX Corp. has opened its new global headquarters in Northbrook. Architecture and engineering firm HED designed the 39,252-square-foot office. The space is situated on the third floor of an existing office building and is roughly the same size as IDEX’s former office in Lake Forest. The new headquarters features a touchless reception area, enabling visitors to check themselves in and notify employees of their arrival electronically. There are a number of tech-enabled conference rooms and a central café. IDEX develops, designs and manufactures specialty engineered products such as air bag clamps or rescue tools.
BLOOMINGDALE, ILL. — Greystone has provided a $54.6 million HUD-insured 223(f) loan for the refinancing of Camden at Bloomingdale. The 360-unit apartment property is located in Bloomingdale, a northwest suburb of Chicago. Built in 1991, the property consists of 19 garden-style buildings. Amenities include a clubhouse, business center, fitness center, pool, outdoor sports courts, picnic grounds and playground areas. Clint Darby and Phiet Nguyen of Greystone originated the 35-year loan, which features a 35-year amortization and a fixed interest rate of 2.68 percent. The transaction qualified for HUD’s green financing, further reducing the interest rate on the loan. The borrower, Chern Camden, will use loan proceeds to refinance an existing Fannie Mae loan, continue with ongoing maintenance and monetize existing equity, according to Greystone.
CHICAGO — Associated Bank has arranged a $37.8 million loan for the renovation of an 18-story apartment tower located at 1926 W. Harrison St. in Chicago. The building is situated within the Illinois Medical District and near the Rush University Medical Center. The borrowers, Marquette Cos. and Kayne Anderson Real Estate, will renovate 272 units and make improvements to the fitness center, coworking space, rooftop deck and dog run. Completion is slated for August 2021. Associated Bank served as lead arranger and administrative agent, working with Wheaton Bank & Trust. Elizabeth Hozian of Associated Bank handled the loan arrangements and closing.
