NEWTON, ILL. — St. Joseph Renewable Fuels LLC has unveiled plans to build a $400 million renewable diesel plant in Newton, located within Jasper County in southern Illinois. The 40-acre site is within a federally designated opportunity zone. The proposed plant will bring new sources of renewable fuels to metropolitan, rural and underserved communities. It will consume waste fats and greases from a region spanning 1,000 miles around Newton that would otherwise be landfilled or emptied into sewer drains. The plant will convert the waste into 90 million gallons of diesel and naphtha fuel annually as well as 7 million gallons of technical grade glycerin. Project financing comes from New York-based specialty finance firm Lance Capital and its New Zealand joint venture partner, Lance-Kamaka Capital Ltd. Plans call for the use of a new app called HealthCheckIn that will test the workforce for COVID-19. Other partners include Cyberus Labs and a joint venture between McDermott and Chevron Oil, which will be involved in the core technology of the renewable fuels produced. The project will create 100 permanent jobs in the Newton community, 200 construction jobs for the duration of the two-year project and 300 trucking jobs throughout the state of …
WINFIELD, ILL. — Marcus & Millichap has brokered the $4 million sale of a 10,980-square-foot retail property net leased to CVS Pharmacy in Winfield, about 30 miles west of Chicago. The building is located on Geneva Road. Matt Emerick, Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a partnership. Dean Giannakopoulos and Frank Montalto of Marcus & Millichap Capital Corp. arranged acquisition financing. The property sold at 92 percent of its list price.
GURNEE, ILL. — Goldie’s Baking has signed a 15,122-square-foot industrial lease at 760 Lakeside Drive in Gurnee, about 40 miles north of Chicago. The property features a clear height of 22 feet, five shared docks and one drive-in door. Brian Bocci of Entre Commercial Realty represented the tenant, which is expanding and relocating from nearby McHenry. Eric Fischer and Mark Samuels of Cushman & Wakefield represented the undisclosed landlord. Goldie’s Baking is known for its scones.
WOODRIDGE, ILL. — Brown Commercial Group has negotiated a 36,612-square-foot industrial lease on behalf of American Cleaning & Restoration South at 10440 Woodward Ave. in Woodridge, a western suburb of Chicago. The tenant, which restores structures that experience fire and water damage or are in need of mold remediation, is expanding and moving from a facility in Romeoville. Mike Antonelli of Brown represented the tenant. Jeff Galante of Lee & Associates represented the landlord, Prologis. The multi-tenant building spans 159,258 square feet and features a clear height of 30 feet.
CHICAGO — Skender has topped out a new 36,000-square-foot, six-story housing facility for nonprofit Sarah’s Circle in Chicago’s Uptown neighborhood. The project includes a basement, 38 units for long-term housing, an emergency overnight space with 50 nonpermanent beds and a food hall. Skender is collaborating with architect Perkins+Will and Brinshore Development. Sarah’s Circle serves women who are homeless or in need of a safe space. It provides food, clothing, shelter, housing and clinical services for domestic violence and trauma.
CHICAGO — Kiser Group has arranged the sale of a three-building multifamily portfolio in Chicago’s Portage Park neighborhood for $3.5 million. The portfolio spans 36 units and includes the following properties: 3905-11 N. Linder Ave.; 3514-18 N. Long Ave.; and 3816-24 N. Long Ave. Monthly rents for the properties average $950 for one-bedroom units and $1,200 for two-bedroom units. Rick Ofman of Kiser brokered the transaction. Drexel Properties purchased the portfolio from a longtime Chicago landlord.
CHICAGO — Provender Partners has acquired two food processing facilities in metro Chicago. In the first transaction, Provender purchased a 141,000-square-foot facility located at 5420 St. Charles Road in Berkeley. Preferred Meals Inc., a provider of fresh and frozen prepared snacks and meals to schools, fully leases the property. Jonathan Wolfe and Jordan Shtulman of STREAM Capital Partners LLC brokered the $18 million sale-leaseback. In the second transaction, Provender acquired an 80,000-square-foot meat processing facility located at 525 W. Crossroads Parkway in Bolingbrook. It is currently available for lease. Provender maintains a portfolio of more than 5 million square feet of refrigerated real estate assets throughout the United States.
GENEVA, ILL. — Marcus & Millichap has brokered the sale of Geneva Park Apartments in Geneva, a western suburb of Chicago. The sales price was undisclosed. The 56-unit apartment property is located at 7 Simpson St. All of the community’s units are two-bedroom floor plans. Andrean Angelov and Ryan Engle of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The duo also secured and represented the buyer, a limited liability company.
TINLEY PARK, ILL. — JLL Capital Markets has arranged the sale of a five-property industrial portfolio totaling 539,109 square feet in the Chicago suburb of Tinley Park. The sales price was undisclosed. A sixth building within the portfolio is set to close later this month. The properties are located within the I-80 industrial corridor and in the northeast portion of Will County. Kurt Sarbaugh, Robin Stolberg, John Hugenard, Ed Halaburt and Sean Devaney of JLL represented the undisclosed seller. High Street Logistics Properties purchased the portfolio via High Street Real Estate Fund VI, the Boston-based company’s sixth investment vehicle.
JOLIET, ILL. — Pathway Logistics has signed a 30,962-square-foot industrial lease at 1600 Rock Creek Blvd. in Joliet. The company began occupying space at the multi-tenant warehouse in April. Joshua Hearne of Cawley Chicago brokered the lease transaction. The landlord was undisclosed.