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.
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.
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.
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.
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.
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.
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.
SOUTH ELGIN, ILL. — Interra Realty has brokered the $24.5 million sale of Panton Mill Station in South Elgin, about 35 miles northwest of Chicago. The 100-unit luxury apartment community is located at 355 N. La Fox St. The property was fully leased at the time of sale. Amenities include a business center, fitness center, outdoor kitchen and dog wash. Jon Morgan and David Goss of Interra represented the seller, an affiliate of Chicago-based Synergy Construction Group, which completed the building in spring 2020. Patrick Kennelly and Paul Waterloo of Interra represented the buyer, MTA South Elgin.
SAINT CHARLES, ILL. — The Boulder Group has arranged the $3.3 million sale of a PNC Bank ground lease in Saint Charles, about 40 miles west of Chicago. The 3,586-square-foot building is located at 3879 E. Main St. The property serves as an outparcel to a Target-anchored shopping center. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private, Midwest-based real estate investor. The Midwest-based buyer completed a 1031 exchange. PNC Bank, which has operated at the location since 2002, recently extended its lease through 2033.
SKOKIE, ILL. — JLL Capital Markets has arranged the sale and financing of a two-building life sciences portfolio within The Illinois Science + Technology Park in Skokie, about 15 miles north of downtown Chicago. The portfolio spans 286,184 rentable square feet and is home to global life sciences brands and university-affiliated, venture-backed startups. Sam DiFrancesca, Patrick Shields, Jaime Fink, Jeffrey Bramson, Bruce Miller and Nick Psyllos of JLL represented the seller, American Landmark Properties, which acquired the buildings in 2016 and renovated them. The JLL team also procured the buyer, Chicago-based Singerman Real Estate. Danny Kaufman and Lucas Borges of JLL led financing efforts on behalf of the buyer. Max Zwolan and Scott Brandwein of JLL also supported the transaction and will continue to handle leasing for the new owner. The sales price and loan amount were not provided.