Illinois

Optima-Study-Suite-Chicago-IL

CHICAGO — Optima Signature, a luxury office tower in Chicago, is now offering its on-site office suites as e-learning spaces for residents and non-residents alike. Designed by David Hovey Sr. and completed in 2017, Optima Signature is a 490-unit Class A residential tower located at 220 E. Illinois St. Located on the 57-story building’s second and seventh floors, the study suites are furnished with five to seven workstations, a mini-fridge, built-in cabinetry and window treatments, Wi-Fi access, professional cleaning and a curated selected of building amenities, including outdoor lounge areas. The suites are available for rent, ranging from $1,800 to $2,400 per month.

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CHICAGO — TLC Management has purchased Ravenswood Terrace Apartments, a multifamily property located at 1801 W. Argyle St. on Chicago’s North Side, for $46 million. Built in 2014 by Chicago-based Belgravia Group, the 150-unit property was recapitalized in 2016 when Washington, D.C.-based The Carlyle Group acquired a majority interest in the asset. The community features a clubhouse, fitness center, rooftop deck, community garden and courtyards. The property is 7.5 miles north of downtown Chicago and approximately 2.5 miles north of Wrigley Field. Bill Baumann of Monarch Realty Partners represented the buyer in the deal, which represents the highest value multifamily transaction in the Ravenswood neighborhood, according to CoStar.

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NORTHFIELD, ILL. — Design Construction Concepts, a subsidiary of Mosaic Construction, has begun building out a new location for Brightmont Academy in Northfield, about 20 miles north of Chicago. The project will be located within a former showroom at 1799 Willow Road and adjacent to a Starbucks. The 3,500-square-foot buildout will retain many of the existing ceiling features and wall treatments. OKW Architects is designing the space to meet the needs of Brightmont’s educational model, which pairs one student with one teacher.

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CHICAGO — Marcus & Millichap has brokered the sale of Galewood Plaza in Chicago for $2.7 million. The 14,071-square-foot retail property is located at 6600 W. North Ave. It was fully leased at the time of sale to tenants such as Jackson Hewitt, CD One Price Cleaners and Cricket Wireless. Sean Sharko, Austin Weisenbeck and Adrian Mendoza of Marcus & Millichap marketed the building on behalf of the seller, a limited liability company. The buyer was undisclosed.

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OAK BROOK, ILL. — J.C. Anderson has completed office renovations totaling 53,111 square feet for ReaderLink at The Crossings in Oak Brook. J.C. Anderson added private offices, open office cubicles, coffee stations, private restrooms, conference rooms and a meeting space. The work was completed in phases. ReaderLink distributes hardcover, trade and paperback books to booksellers in North America. Ware Malcomb served as architect. JLL oversaw construction management. The office is located at 1420 Kensington Road.

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MOKENA, ILL. — Avison Young has negotiated the sale of a 125,000-square-foot industrial building in Mokena, about 35 miles southwest of Chicago. Located at 9000 W. 192nd St., the facility serves as a Midwest distribution center for Dunkin’. The seller, DCP Real Estate Group LLC, is a supply chain management company serving the franchisees of Dunkin’. Exeter Property Group was the buyer. Erik Foster and Mike Wilson of Avison Young represented the seller in a partial sale-leaseback of the facility. The duo worked in conjunction with Chris Lydon and Brian Pomorski of Avison Young.

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CHICAGO — Skender has completed interior construction of the 55,000-square-foot headquarters for the American Library Association in Chicago. Located on a single floor at 225 N. Michigan Ave., the office features a mix of private and open workspaces, meeting and focus spaces, podcasting and video conferencing rooms and a library. Skender collaborated with architect Nelson Worldwide, engineer Environmental Systems Design and owner’s representative Cushman & Wakefield.

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CHICAGO — A joint venture between SHVO and Deutsche Finance Bank has acquired the CNA Center, more commonly known as “Big Red” due to the bold color of the 45-story office tower, for $376 million. The 1.2 million-square-foot property is situated at 333 S. Wabash Ave. in Chicago’s East Loop district. At the time of sale, the property was leased to CNA Insurance, financial services company Northern Trust and the Chicago Housing Authority. Graham, Anderson, Probst & White originally designed the tower in 1973, and it underwent renovations in 2019. Amenities include a new food hall open to the public, a fitness center and childcare facilities. “Big Red is among the most recognizable towers in the Windy City’s skyline — the birthplace of the skyscraper and home to so much rich architectural history,” says Michael Shvo, chairman and CEO of SHVO. “We’re proud to now be a part of that Chicago tradition with this addition to our national portfolio of super-prime core properties. We look forward to not just maintaining Big Red’s stature but elevating it in the years to come.” The joint venture entered into a contract agreement with the sellers, Morgan Stanley and The Morgon Cos., in the …

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ROMEOVILLE, ILL. — Colliers International has brokered the sale of Interchange 55 Logistics Park in Romeoville for $98 million. Located near I-55, the two-building industrial development spans 1.3 million square feet. Completed in late 2019, the project was 30 percent occupied at the time of sale. Both buildings feature clear heights of 36 feet. Jeff Devine and Steve Disse of Colliers International represented the seller, Macquarie Real Estate. Prologis purchased the asset.  

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NEW LENOX, ILL. — Premier Design + Build Group has completed construction of a two-story, 41,724-square-foot medical office building in New Lenox, about seven miles east of Joliet. HSA|Primecare was the developer. The ground floor of the property houses a Silver Cross urgent care facility as well as a primary care unit. Located at 1851 Silver Cross Blvd. across the street from Silver Cross Hospital’s Pavilion A & B, the new building is known as Pavilion D. The urgent care space features an X-ray room, laboratory, six exam rooms, offices and a waiting area. The second floor is designed for clinical and medical office use. The project team included Eppstein Uhen Architects, Ruettiger, Tonelli & Associates, Pierce Engineers and IMEP.

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