Illinois

NorthPoint Development Selects Cushman & Wakefield to Market Three Remaining Sites at Commerce Park Chicago

by Kristin Harlow September 2, 2020

CHICAGO — NorthPoint Development has selected Cushman & Wakefield to market the three remaining sites at Commerce Park Chicago. The sites offer up to an additional 1.9 million square feet of Class A industrial space. Located at the former Republic Steel site in Chicago’s Hegewisch neighborhood, Commerce Park Chicago is a 2.4 million-square-foot industrial park. Larry Goldwasser, Jason West and Colin Green of Cushman & Wakefield will represent Kansas City-based NorthPoint in both for-lease and build-to-suit opportunities.

September 2, 2020

Illinois Industrial Leasing Activity Midwest

Corteva Agriscience Leases 300,000 SF in Galesburg, Illinois

by Kristin Harlow September 2, 2020

GALESBURG, ILL. — Corteva Agriscience has leased 300,000 square feet at a former Maytag facility located at 1801 Monmouth Blvd. in Galesburg, about 45 miles northwest of Peoria. Corteva is an agricultural chemical and seed company. Phoenix Investors owns the building, which has been vacant since Maytag closed the plant over a decade ago. Phoenix purchased the facility in June 2019. Corteva will take occupancy this fall once renovations are completed.

September 2, 2020

Development Illinois Midwest Multifamily Seniors Housing

Capitol Seniors Housing Completes Development of 86-Unit Facility in Suburban Chicago

by Kristin Harlow September 1, 2020

HIGHLAND PARK, ILL. — Developer Capitol Seniors Housing has completed the development of Atria Highland Park, an 86-unit assisted living and memory care community in the Chicago suburb of Highland Park. Atria Senior Living operates the three-story, 72,000-square-foot property. Designed by Mosely Architects and StudioSix5, the community includes amenities such as a library, theater, art studio, multi-purpose room, fitness center, wellness center, restaurant, bistro and private dining room. There are 22 memory care suites. The community sits on 2.6 acres near the Sunset Valley Golf Course. Core Construction was the general contractor.

September 1, 2020

Acquisitions Illinois Midwest Multifamily Retail

Interra Realty Brokers $5.6M Sale of Apartment, Retail Building in Chicago

by Kristin Harlow September 1, 2020

CHICAGO — Interra Realty has brokered the $5.8 million sale of an apartment and retail building located at 2020-36 W. Montrose Ave. in Chicago’s Ravenswood neighborhood. Built in 1927, the property includes 22 apartment units situated above nine retail spaces. At the time of sale, the apartments were 94 percent occupied and the retail spaces were fully leased. Joe Smazal of Interra represented both the undisclosed buyer and seller.

September 1, 2020

Acquisitions Illinois Industrial Leasing Activity Lee & Associates Midwest

Lee & Associates Negotiates Three Industrial Transactions in Chicago’s I-55 Corridor

by Kristin Harlow August 31, 2020

BOLINGBROOK AND WOODRIDGE, ILL. — Lee & Associates has negotiated three industrial transactions in Chicago’s I-55 corridor. In the first transaction, Tom Condon of Lee & Associates represented the buyer, Provender Partners, in the purchase of an 81,000-square-foot building located at 525 W. Crossroads Parkway in Bolingbrook. Vern Schultz of Colliers International represented the seller, West Liberty Foods. Second, Jeff Galante of Lee & Associates represented Champion Packaging in its 283,436-square-foot lease renewal and expansion at 2501 Internationale Parkway in Woodridge. Prologis owns the building. Last, Galante, along with colleagues Terry Grapenthin and Ryan Earley, represented owner Pritzker Realty Group on a 406,777-square-foot lease renewal at 555 Saint James Gate in Bolingbrook. The tenant was undisclosed.

August 31, 2020

Acquisitions Illinois Midwest Restaurant Retail

Marcus & Millichap Brokers $1.6M Sale of Starbucks-Occupied Property in Des Plaines, Illinois

by Kristin Harlow August 31, 2020

DES PLAINES, ILL. — Marcus & Millichap has brokered the sale of a 1,914-square-foot property occupied by Starbucks in Des Plaines for $1.6 million. The net-leased asset is located at 1427 Lee St. next to Aldi. Starbucks has seven years remaining on its lease. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the building on behalf of the seller, a limited liability company. A local investor purchased the property.

August 31, 2020

Development Illinois Midwest Office

J.C. Anderson to Complete 109,000 SF Office Build-Out for Bosch in Oakbrook Terrace, Illinois

by Kristin Harlow August 27, 2020

OAKBROOK TERRACE, ILL. — J.C. Anderson has been selected to complete a 109,000-square-foot office build-out for German engineering and technology company Bosch at One Tower Lane in Oakbrook Terrace. The project encompasses the top five floors of the 31-story office building as well as a 15,883-square-foot separate commercial space at the property known as “The Annex.” Bosch plans to relocate about 350 employees from its automotive aftermarket division in Broadview to the new space in Oakbrook Terrace. Scheduled for completion in November, the project will include the addition of conference rooms, private offices and open seating areas. The annex portion will serve as a testing and lab facility. Whitney is the project architect and Cushman & Wakefield is providing project management services.

August 27, 2020

Acquisitions Illinois Midwest Retail

Marcus & Millichap Arranges $3.7M Sale of Retail Building in Algonquin, Illinois

by Kristin Harlow August 27, 2020

ALGONQUIN, ILL. — Marcus & Millichap has arranged the sale of a 7,926-square-foot retail building in Algonquin for $3.7 million. Located at 1496 S. Randall Road, the property serves as an outparcel to a Walmart Supercenter. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the building on behalf of the seller, a developer. A Midwest-based investment company purchased the asset, which was fully leased at the time of sale to The Vitamin Shoppe, FedEx and Bentley’s Pet Stuff.

August 27, 2020

Acquisitions Illinois Midwest Restaurant Retail

Hanley Investment Group Brokers $3.5M Sale of Panera Bread-Occupied Property in East Peoria, Illinois

by Kristin Harlow August 27, 2020

EAST PEORIA, ILL. — Hanley Investment Group Real Estate Advisors has brokered the $3.5 million sale of a newly constructed retail property occupied by Panera Bread in East Peoria, about 70 miles north of Springfield. The 4,380-square-foot, drive-thru location is situated within a 650,000-square-foot mixed-use development known as The Levee District. Jeff Lefko and Bill Asher of Hanley represented the seller, Cullinan Properties Ltd. David Rush of CBRE represented the buyer, a Santa Barbara, Calif.-based private investor.

August 27, 2020

Illinois Leasing Activity Midwest Office

Chamberlain University Signs 75,000 SF Lease at Riverview at Roscoe in Chicago

by Kristin Harlow August 26, 2020

CHICAGO — Chamberlain University, known for its nursing school, has signed a lease for 75,000 square feet of educational space at Riverview at Roscoe on Chicago’s North Side. Baum Revision acquired the office property in a joint venture with Meridian Capital in March of this year. The property is currently undergoing capital improvements with a focus on wellness to achieve LEED Platinum certification. Patrick Russo, Adam Showalter and Jessica O’Hara of Stream Realty Partners have been retained to lease and market the property. There are 40,000 square feet remaining available for lease. Chamberlain has locations across the United States in addition to online programs.

August 26, 2020

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