LOMBARD, ILL. — Exeter Property Group has acquired a 193,000-square-foot industrial building located at 100 Progress Road in Lombard for an undisclosed price. The property is situated at the intersection of I-355 and North Avenue in the Central DuPage County submarket. The building offers clear heights ranging from 24 to 29 feet and is fully leased to Orora Packaging. David Bercu of Colliers International brokered the sale. A private investor sold the asset.
ADDISON, ILL. — CPG.IO has leased 144,614 square feet of industrial space at 1150 N. Swift Road in Addison. The company, which helps brands grow their e-commerce operations, previously subleased 100,000 square feet at the facility before entering into the direct lease agreement. Kelly Disser and Michael Freitag of NAI Hiffman represented CPG.IO in the seven-year lease, which commences in May. Cushman & Wakefield represented Lincoln Property Co., which manages the property on behalf of a domestic pension fund. Lincoln will upgrade the warehouse with new LED lighting and heating units and make improvements to the office space. Built in 1998 on 15 acres, the property features a clear height of 30 feet, more than 40 loading docks, four drive-in doors and 200 car parking spaces.
CHICAGO — Moceri + Roszak has completed the development of a 20-story, loft-style office building in Chicago’s Loop. Firmspace, an Austin-based shared office provider, has leased the top three floors of the 210,000-square-foot property. Known as 145 South Wells, the building includes a 12,000-square-foot amenity center with conference rooms, a fitness center, golf simulator, martini and espresso bar and outdoor space. The project also features a 24-stall executive parking garage and 3,840 square feet of ground-floor retail space. Mason Taylor and Chris Cassata of JLL are handling leasing at the property. Corey Siegrist of JLL represented Firmspace in its lease. The tenant plans to take occupancy in mid-October. Thomas Roszak Architecture is the project architect. Bentall Kennedy provided project financing.
EVERGREEN PARK, ILL. — Mid-America Real Estate Corp. has brokered the $1.1 million sale of an outlot at Evergreen Marketplace in Evergreen Park, about 15 miles south of Chicago. The 5,851-square-foot retail building is home to Cousins Subs, Hair Cuttery and The Crazy Crab. Ben Wineman and Emily Gadomski of Mid-America represented the seller, Sterling Bay. A private buyer purchased the asset.
CHICAGO — Kiser Group has brokered the sale of a three-property apartment portfolio in Chicago’s South Shore neighborhood for $18.4 million. The transaction was the largest by dollar amount in the submarket in the last 15 years, according to CoStar Group. The portfolio includes the 130-unit 7500 S. Shore built in 1950; the 53-unit S. Clyde built in 1928; and the 25-unit 7038 S. Chappel constructed in 1926. Monthly rental rates range from $525 to $1,515. Noah Birk and Aaron Sklar of Kiser represented the seller, DAX Real Estate. An undisclosed buyer purchased the portfolio.
WHEELING, ILL. — Foxboro Apartments in Wheeling has traded hands for $54.2 million. The 402-unit apartment property is located at 470 Foxboro Drive. Built in two phases in the late 1970s, Foxboro Apartments is a five-building complex offering one- and two-bedroom units. Amenities include a coffee bar, resident lounge, business center, pool, picnic area, sand volleyball court and three-acre lake. Sean Connelly of 33 Realty represented the buyer, Marquette Cos. Tara Mathew, a Chicago-based independent broker, assisted Connelly in the transaction. Partnership Concepts was the seller.
CHICAGO — American Street Capital (ASC) has arranged a $7 million bridge loan for the acquisition of a 45-unit multifamily property in Chicago’s Logan Square. Originally built in 1928, the asset was recently renovated. Floor plans range from one- to three-bedroom units. Amenities include a bike storage room, Wi-Fi and common laundry area. Igor Zhizhin of ASC arranged the 12-month loan with Freddie Mac. The loan was later converted to a 10-year, fixed-rate loan with a 30-year amortization schedule. The borrower was undisclosed.
CHICAGO — Fundamental Advisors has sold The Clare, a 53-story, 338-unit continuing care retirement community in downtown Chicago, to LCS for an undisclosed price. Fundamental partnered with Senior Care Development and LCS to acquire the community out of bankruptcy in 2012. A renovation plan was implemented that expanded the health center and augmented programs and services for residents. Additionally, Life Care Services, the management arm of LCS, was brought in to operate the community. During the years since the acquisition, occupancy increased from 34 percent to 98 percent. Located at 55 E. Pearson St. within the Gold Coast neighborhood, The Clare was developed in 2008 and features 248 independent living units, 26 assisted living units, 14 memory care units and 50 skilled nursing beds. Allen McMurtry and David Kliewer of Cushman & Wakefield represented the seller in the transaction.
MAYWOOD, ILL. — McShane Construction Co. has broken ground on a 72-unit affordable housing project on behalf of developer Interfaith Housing Development Corp. in Maywood, about 11 miles west of Chicago. Situated on South Fifth Avenue, the property will be known as Fifth Avenue Apartments. Plans also call for 4,000 square feet of retail space on the ground floor. Designed to achieve National Green Building Standard’s Bronze Level, the property will include a high-performance HVAC system, efficient insulation and LED lighting. Completion is slated for February 2021. HED is the project architect.
ROSELLE, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has acquired an 80,704-square-foot industrial building in Roselle for an undisclosed price. The property sits on 5.1 acres at 31 Presidential Drive, about 30 miles northwest of Chicago. Built in 1992, the facility features a clear height of 18 feet, five docks, three drive-in doors and parking for 232 cars. The single-tenant building was fully leased to an undisclosed tenant at the time of sale. Jeff Janda and Jeff Galante of Lee & Associates represented the undisclosed seller.