Tuesday, November 4, 2025
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DevelopmentIllinoisMidwestMultifamily

Summit Design + Build Completes Adaptive Reuse of Former Sears Store in Chicago into Apartments

by Kristin Harlow

CHICAGO — Summit Design + Build has completed the adaptive reuse of a former Sears department store in Chicago’s Ravenswood neighborhood. The Sears store opened in 1925 and permanently closed in 2016. Summit transformed the property into 59 apartment units with first-floor commercial space. DeVry University occupies 90 percent of the available commercial space. Floor plans range from one- to three-bedroom units. CA Ventures and Springbank Capital Advisors served as developers. Gillespie Design Group was the project architect.

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AcquisitionsIllinoisIndustrialMidwest

Pinnacle Systems Relocates from Saint Charles to Batavia, Illinois

by Kristin Harlow

BATAVIA, ILL. — Pinnacle Systems Inc. has sold its 33,113-square-foot industrial facility located at 3715 Swenson Ave. in Saint Charles for $2.3 million. The safety equipment supplier then purchased a 16,095-square-foot industrial building located at 1510 Hubbard Ave. in Batavia for $915,000. David Friedland, Michael Magliano and Michael Manna of Cushman & Wakefield represented Pinnacle in both transactions. The new building is better suited to the current needs of Pinnacle, according to Manna.

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IllinoisIndustrialLeasing ActivityMidwest

Radial Signs Lease Extension for 421,361 SF Distribution Center in Suburban Chicago

by Kristin Harlow

ROMEOVILLE, ILL. — Radial Inc. has signed a long-term lease extension for its distribution center in Romeoville. The commerce technology and operations company occupies 421,361 square feet at 715 Theodore Court near I-55. Paul Diederich, Todd Lippman, Traci Payette and Stephanie Park of CBRE represented Radial in the lease. The landlord was undisclosed. Building improvements were negotiated as part of the lease transaction, according to Diederich.

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AcquisitionsIllinoisMidwestMultifamily

Interra Arranges $4.5M Sale of Multifamily Property in Westmont, Illinois

by Kristin Harlow

WESTMONT, ILL. — Interra Realty has arranged the $4.5 million sale of Warwick Apartments in Westmont, a western suburb of Chicago. The 32-unit multifamily property is located at 312-316 N. Warwick Ave. The seller, Chicago-based 29th Street Capital, made significant capital improvements to the property in 2018. It was originally built in 1973 and was 97 percent occupied at the time of sale. Brian DiBasilio and Craig Martin of Interra represented the seller. The buyer was not disclosed.

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IllinoisMidwestRetail

Cullinan Rebrands Quincy Mall in Illinois as Quincy Town Center

by Kristin Harlow

QUINCY, ILL. — Owner and manager Cullinan Properties Ltd. has rebranded Quincy Mall as Quincy Town Center. The property is located in Quincy, which is situated along the Mississippi River in western Illinois. Cullinan says the new identity reflects a fresh image and direction for the next chapter of the property. Anchor tenants include Quincy Medical Group, Slumberland Furniture and VIP Cinemas. Cullinan will continue to pursue retail tenants for Quincy Town Center, but it is also seeking uses such as office, hotel and multifamily. Originally opened in 1958 as an outdoor complex known as the American Legion Miracle Mile Town and Country Shopping Center, the center was eventually enclosed and rebranded as Quincy Mall in 1978. Cullinan acquired the asset in 2006.

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IllinoisLeasing ActivityMidwestOffice

Costco Leases 30,000 SF at Woodfield Preserve Office Center in Schaumburg, Illinois

by Kristin Harlow

SCHAUMBURG, ILL. — Costco Wholesale Corp. and Costco Innovel Solutions have leased 30,000 square feet at Woodfield Preserve Office Center in Schaumburg. The property is located at 10 N. Martingale Road. Costco expects to begin occupying the space in April. The two-building Woodfield Preserve recently underwent renovations such as lobby remodeling and elevator cab modernization. Amenities include fitness centers, conference centers, tenant lounges, game rooms, delis and an outdoor courtyard. William Elwood and Robert Graham of CBRE represented ownership, Zeller, in the lease transaction. David Stefancic and Lexis Livengood of Cushman & Wakefield represented Costco. Other tenants at the property include Assurance, Byline Bank, Hitachi, New York Life and Progressive.

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DevelopmentIllinoisIndustrialMidwest

Conor Commercial Underway on Development of 436,500 SF Spec Industrial Project in Bartlett, Illinois

by Kristin Harlow

BARTLETT, ILL. — Conor Commercial Real Estate is underway on the development of Brewster Creek Commerce Center in Bartlett, about 35 miles northwest of Chicago. The speculative industrial project will span 436,500 square feet. Conor expects to serve e-commerce and logistics companies in need of large-scale distribution space. The building will feature a clear height of 36 feet, 54 truck docks, four drive-in doors, ESFR sprinklers, parking for 125 trailers and parking for 340 cars. Completion is slated for the second quarter. McShane Construction Co., V3 Cos. and Harris Architects Inc. make up the project team. The project is part of a larger 670-acre business park that is home to tenants such as McKesson, ITW, Greco & Sons, Rana, Creative Werks and Cheese Merchants of America.

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DevelopmentIllinoisIndustrialMidwest

ML Realty Partners Completes 115,924 SF Spec Industrial Building in Glendale Heights, Illinois

by Kristin Harlow

GLENDALE HEIGHTS, ILL. — ML Realty Partners has completed the development of a 115,924-square-foot speculative industrial building in Glendale Heights. Located at 760 E. North Ave., the project features a clear height of 32 feet, 26 exterior truck docks and two drive-in doors. ML Realty acquired the 7.5-acre site in fall 2019. Kelly Disser, Eric Tresslar, Michael Freitag and Dion Ursino of NAI Hiffman will market the property for lease. Meridian Design Build and Harris Architects made up the project team.

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AcquisitionsIllinoisMidwestOffice

Premier Commercial Realty Negotiates Sale of 20,600 SF Office Building in Crystal Lake, Illinois

by Kristin Harlow

CRYSTAL LAKE, ILL. — Premier Commercial Realty has negotiated the sale of a 20,600-square-foot office building located at 333 Commerce Drive in Crystal Lake, about 50 miles northwest of downtown Chicago. The sales price was undisclosed. The property was 65 percent leased at the time of sale. Michael Deacon of Premier brokered the transaction. A private investor purchased the asset from 333 Commerce Drive LLC.

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AcquisitionsIllinoisMidwestRetail

Single-Tenant Retail Property in Bensenville, Illinois Trades Hands

by Kristin Harlow

BENSENVILLE, ILL. — A single-tenant retail property located at 801 N. Route 83 in Bensenville has traded hands for an undisclosed price. Bensenville is about 22 miles northwest of Chicago. The freestanding building was previously leased to Citgo. Jason Caplan of Quantum Real Estate Advisors Inc. represented the seller, a local owner and operator. Hayden Koplow of Friedman Real Estate represented the buyer, a national fuel and convenience store operator based in New York. The seller developed the property two years ago.

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