NORTHBROOK, ILL. — IDEX Corp. has leased 39,252 square feet of office space at 3100 Sanders Road in Northbrook for its new global headquarters. The manufacturer of dispensing equipment and specialty engineered products is expected to vacate its current office in Lake Forest this summer. IDEX will occupy space on the third floor and have access to a shared conference center and auditorium. Lou Hall and Dan Wilkins of Cushman & Wakefield represented the tenant in the lease transaction. Francis Prock and Daryl Silverman of Colliers International represented the landlord, Allstate Corp.
Illinois
AURORA, ILL. — Transwestern Commercial Services has brokered the sale of 2350 Prospect Drive in Aurora. The 110,355-square-foot industrial building features a clear height of 38 feet and is fully leased by a transportation and logistics provider. Justin Lerner and Joe Karmin of Transwestern represented the buyer, Denver-based Black Creek Group. Neither the seller nor the sales price were disclosed.
CHICAGO — Marcus & Millichap has negotiated the sale of Courtesy Plaza in Chicago for $7.5 million. Built in 1987, the 42,346-square-foot retail center is located at 5160 S. Pulaski Road. It is fully leased. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a developer. The team also procured the buyer, a private investor.
CHICAGO — JLL Capital Markets has arranged the sale of St. Pauls House, a 171-bed skilled nursing community in Chicago. Lutheran Life Communities sold the facility to an Illinois-based operator for an undisclosed price. St. Pauls House was originally built in 1921, with the additions of the east wing in 1956 and the west wing in 1970. The 100,000-square-foot community is situated on 2.4 acres in Chicago’s Irving Park neighborhood, northwest of downtown. Mike Garbers and Cody Tremper of JLL led the transaction.
CHICAGO — Three tenants have signed office leases at 150 North Michigan, a 41-story Class A office tower in Chicago’s East Loop. The German American Chamber of Commerce of the Midwest Inc. will take a full floor and Insight Global Tech will occupy 11,469 square feet on the 36th floor. Additionally, law firm Jackson Lewis renewed its lease for 29,793 square feet on the 24th and 25th floors. Combined, the three leases total 59,321 square feet. Sara Spicklemire, Kelsey Scheive and Seth Tuscher of CBRE represented ownership, CBRE Global Investors. The 654,508-square-foot property is currently 87 percent leased and recently underwent a $7 million renovation. The property is known for its diamond-shaped peak.
ELK GROVE VILLAGE, ILL. — Duke Realty has completed the development of a 154,000-square-foot warehouse at 901 Chase Ave. in Elk Grove Village. The speculative building features a clear height of 32 feet, 32 exterior docks, two drive-in doors and office space. The eight-acre site includes parking for 25 trailers and 114 cars. Brian Colson and Brian Pomorski of Avison young are marketing the project for lease.
CHICAGO AND OAK PARK, ILL. — Arbor Realty Trust Inc. has provided three bridge loans totaling $24.6 million for a three-property multifamily portfolio in metro Chicago. Eric Regenbogen of Arbor originated the loans, which provided the borrower with the capital required to purchase and improve the properties that collectively total 135 units. Two of the communities, built in the 1960s, are located in Oak Park. The third property is located in Chicago and was built in 1932.
DEER PARK, ILL. — Digital marketing agency Logical Position has signed a 42,696-square-foot office lease at the Reserve at Deer Park in suburban Chicago. Situated on Lake Cook Road, the office building spans 85,392 square feet and six floors. Amenities include a café, fitness center and conference center. Matthew Frazee, Paul Buckingham and Brian Reaney of Newmark Knight Frank represented the tenant in the lease negotiations. JLL represented building ownership.
WHEATON, ILL. — Baum Realty Group LLC has arranged the sale of a net-lease retail property spanning 12,996 square feet in Wheaton for $4.6 million. Tenants include Starbucks, Qdoba, AT&T, Supercuts and UPS. The building is situated near a 116,000-square-foot Jewel-Osco. Patrick Forkin of Baum represented both the undisclosed seller and the buyer, a regional real estate investor.
Friedman Properties, City of Chicago Move Forward with High-Rise Office Tower in Downtown’s River North District
by John Nelson
CHICAGO — Friedman Properties and the City of Chicago have finalized the development agreement of their public-private partnership for Rivere, a 30-story high-rise office building coming to downtown Chicago’s River North district. The 674,000-square-foot tower will be situated at 450 N. Dearborn St., a block south of the intersection of Illinois and Dearborn streets. Rivere will feature a little more than 50,000 square feet of retail space, as well as high-end amenities including concierge services, meditation space, on-demand meeting space, an upscale fitness and wellness center, secure bike room with shower facilities, onsite valet, below-grade garage parking and a food and beverage program operated by Lettuce Entertain You Enterprises. The property will also house a new engine house for Engine Co. 42, the District 1 headquarters for the Chicago Fire Department. Designed by Goettsch Partners, Rivere will feature a glass façade with activated rooftops and sustainable features, including efficient mechanical systems that will help reduce water and energy use. Other design team members include construction management firm Lendlease and engineer DLR Group. Office managers and staff at Rivere will be able use an app to facilitate parking, concierge services, fitness class appointments, guest passes, thermostat control, restaurant reservations and conference …