Illinois

HUNTLEY, ILL. — Huntley Investment Partners (HIP) has unveiled plans to develop a 717,400-square-foot industrial development in Huntley, about 50 miles northwest of Chicago. HIP acquired the 60.8-acre site, located along I-90, from Simon Property Group in April 2016. The site housed a 320,000-square-foot outlet mall that was experiencing a declining occupancy rate. Crews began tearing down Huntley Outlet Center in April 2018. Construction of the first phase of the industrial project is expected to begin this summer. HIP is a joint venture among affiliates of Craig Realty Group Inc., The Prime Group Inc. and The Capital Cos. Adam Marshall, James Schutter and Mark Deady of Newmark will represent HIP in the lease-up process.

EAST DUNDEE, ILL. — Mid-American Elevator Co. is building a new corporate headquarters in East Dundee, about 40 miles northwest of Chicago. The company is relocating from downtown Chicago. The 45,000-square-foot industrial build-to-suit is situated within the Prairie Lake Business Park. Cory Kay, Jeff Locascio and Mike DeSerto of Entre Commercial Realty represented Mid-American Elevator in the transaction as well as the developer, Triumph Construction. Completion is slated for May. Additionally, the Entre team represented Mid-American Elevator in the sale of its 22,500-square-foot office building in Chicago for $4.1 million.

SCHILLER PARK, ILL. — Bridge Development Partners LLC has acquired two existing industrial buildings in Schiller Park with plans to develop the sites into Bridge Point Schiller Park III and IV. Bridge purchased the buildings from Duravant, an equipment and automation solutions provider for the food processing, packaging and material handling sectors. Bridge will demolish the outdated structures and develop two buildings totaling 62,038 square feet and 54,080 square feet, respectively. Each facility will feature a clear height of 32 feet, 125-foot truck courts and five exterior docks. Completion is slated for the fourth quarter of this year. Bridge completed buildings I and II in 2016 and leased them to five different tenants. Steve Stone and David Friedland of Cushman & Wakefield represented Duravant in the transaction. Duravant is relocating its headquarters to one of Bridge’s facilities in Wood Dale.