Illinois

Investcorp Acquires 32 Industrial Properties in Illinois, Ohio

by Kristin Harlow October 27, 2020

ILLINOIS AND OHIO — Investcorp has acquired 32 industrial properties totaling approximately 3.5 million square feet across four U.S. markets. The value of the acquired properties was more than $280 million. The assets are 96 percent leased and consist of a variety of Class A and B warehouse, distribution and flex industrial buildings. Tenants work in the healthcare, logistics, e-commerce, telecommunications and food service industries. Most of the properties are located in Chicago and Cleveland but others are situated in Columbus and Cincinnati. The acquisition grows Investcorp’s U.S. industrial portfolio to roughly $2 billion with 22 million square feet across 260 buildings.

October 27, 2020

Illinois Loans Midwest Retail

JLL Arranges $15.7M in Acquisition Financing for Retail Center in Libertyville, Illinois

by Kristin Harlow October 26, 2020

LIBERTYVILLE, ILL. — JLL Capital Markets has arranged $15.7 million in post-acquisition financing for Red Top Plaza, a 147,840-square-foot retail center anchored by Jewel-Osco in the suburban Chicago town of Libertyville. The property is also home to a mix of service, essential, restaurant and medical tenants. Christopher Drew, Brian Gaswirth, Christopher Knight and Michael DiCosimo of JLL worked on behalf of the borrower, Florida-based Sterling Organization. An insurance company provided the 10-year, fixed-rate loan.

October 26, 2020

Illinois Midwest Retail

Two Industry Veterans Launch AneVista Group in Chicago to Target Small-Format, Last-Mile Retail

by Kristin Harlow October 26, 2020

CHICAGO — Commercial real estate industry veterans Christopher Nolte and David Schreiber have launched Chicago-based AneVista Group, a private equity platform focused on investment and operating strategies in the retail real estate sector. AneVista Group will develop and redevelop small-format, necessity-based shopping centers comprised of Internet-resistant retailers in last-mile locations. The duo intends to address the disruptive trends that the retail sector faces today. AneVista says it will benefit from market tailwinds created by significant product availability, limited competition and distressed pricing. Prior to co-founding AneVista, Nolte worked for the Marcus family and served as president of its family office, Marcus Investments. There, he founded Berengaria Development, a development and investment firm focused on retail and senior living assets. Schreiber served as managing director and retail sector lead at LaSalle Investment Management, where he managed retail and office investment across various markets.

October 26, 2020

Development Illinois Midwest Retail

Principle Construction Completes Four-Bay Truck Wash in Romeoville, Illinois

by Kristin Harlow October 26, 2020

ROMEOVILLE, ILL. — Principle Construction Corp. has completed the construction of Lola’s Truck Wash, a four-bay truck cleaning facility located at 1331 N. Independence Road in Romeoville. Principle worked to reduce the amount of fresh water required to support the 12,840-square-foot project in order to maximize environmental and economic efficiency. Principle built a series of trench drains and wastewater sediment separation tanks to facilitate water recycling needs of the truck wash. A&M Architects LLC was the project architect. Romeoville is the second heaviest-traveled truck corridor in Chicagoland, according to Principle’s COO Mark Augustyn. It is situated near I-55.

October 26, 2020

Acquisitions Illinois Midwest Multifamily

Joint Venture Purchases Chicago Apartment Building for $32.8M

by Kristin Harlow October 23, 2020

CHICAGO — Dwelle, a joint venture between Drew Breneman’s firm RiseInvest and Sam Meyer, has acquired a 72-unit apartment building in Chicago for $32.8 million. The fully leased property is located at 1247-1249 W. Madison St. in the West Loop. The property also includes six commercial units and a heated parking garage. Dwelle’s investors are high-net-worth individuals looking to invest in real estate over the long term and generate dividend income in a tax-efficient manner.

October 23, 2020

Illinois Industrial Leasing Activity Midwest

Bestway Transport Signs 67,932 SF Industrial Lease in Wood Dale, Illinois

by Kristin Harlow October 23, 2020

WOOD DALE, ILL. — Bestway Transport Inc. has signed a 67,932-square-foot industrial lease at 888 Central Ave. in Wood Dale. The property is situated near Chicago O’Hare International Airport as well as I-290. Chris Nelson of Lee & Associates represented Bestway Transport, which is a Chicagoland freight shipping and trucking company. Tom Rodeno, Matthew Stauber and Pat Turner of Colliers International represented the landlord, ML Realty Partners.

October 23, 2020

Development Illinois Loans Midwest Multifamily Top Stories

JLL Arranges More Than $100M in Financing for Multifamily Tower Under Construction in Chicago

by Alex Tostado October 22, 2020

CHICAGO — JLL has arranged more than $100 million in financing for a 278-unit multifamily community in Chicago’s West Loop neighborhood. The developer broke ground on the community in late September and expects to deliver it in spring 2022. JLL worked on behalf of developer Marquette Cos. to secure a $65 million construction loan through Bank OZK. Further details of the financing were not disclosed. Power Construction is the general contractor and Chicago-based Brininstool + Lynch is the architect. The 25-story property, located at 1400 Randolph St., will feature coworking spaces, a fitness center, club room and a pool on the 18th floor. Amenities in the surrounding neighborhood include the 13-acre Union Park; the L Train Ashland Station; and “Restaurant Row,” which features restaurants such as Au Cheval, Bad Hunter, Bandit, Girl & the Goat, Haymarket Tavern, La Josie, Lena Brava and Rooh. Matthew Schoenfeldt of JLL represented the Naperville-based developer in securing the construction financing. “Marquette, their institutional partner and Bank OZK have been steadfast in their commitment to 1400 Randolph, which is a testament to the fundamentally compelling concept,” says Schoenfeldt. According to research from CBRE, there were 2,500 multifamily units delivered in the Chicago area in the …

October 22, 2020

Civic Development Illinois Midwest

S.M. Wilson Breaks Ground on $6.5M Public Safety Building in Highland, Illinois

by Kristin Harlow October 21, 2020

HIGHLAND, ILL. —The City of Highland has selected S.M. Wilson & Co. to build a new $6.5 million public safety building. The 27,930-square-foot facility will house the city’s police, fire and EMS departments under one roof. A committee of public safety employees worked alongside the project architect, Loyet Architects. Completion is slated for summer 2021. Highland is located about 35 miles east of St. Louis.

October 21, 2020

Acquisitions Illinois Industrial Midwest

Venture One Acquires 30,356 SF Industrial Building in Suburban Chicago

by Kristin Harlow October 20, 2020

VERNON HILLS, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has acquired a 30,356-square-foot industrial building in Vernon Hills, a northern suburb of Chicago. The purchase price was undisclosed. The transaction was structured as a sale-leaseback with H&H Graphics. Located at 450 Corporate Drive and constructed in 1991, the building features two docks, one drive-in door and parking for 40 cars. Brian Bocci of Entre Commercial Realty represented Venture One. VK Industrial V is a partnership between Venture One and Kovitz Investment Group.

October 20, 2020

Acquisitions Illinois Industrial Midwest

Colliers Arranges Sale of 648,960 SF Samsung Distribution Center in Romeoville, Illinois

by Kristin Harlow October 19, 2020

ROMEOVILLE, ILL. — Colliers International has arranged the sale of a 648,960-square-foot distribution center occupied by Samsung in Romeoville. The Class A facility is located within Pinnacle Business Center, just south of the full interchange at I-55 and Weber Road. Samsung has occupied the building since 2012 and uses the facility as its primary Chicago-area distribution center for all appliance lines. Samsung recently renewed its lease. Jeff Devine and Steve Disse of Colliers represented the seller, LaSalle Investment Management. Exeter Property Group purchased the asset for an undisclosed price.

October 19, 2020

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