Illinois

Entre Commercial Realty Brokers Sale of 67,817 SF Distribution Building in Schaumburg, Illinois

by Kristin Harlow July 30, 2020

SCHAUMBURG, ILL. — Entre Commercial Realty has brokered the sale of a 67,817-square-foot, last-mile distribution building in Schaumburg for an undisclosed price. The property is located at 710 E. State Parkway. Advance Auto Parts and its affiliate, Worldpac, occupy the entire building. They use the facility to provide just-in-time delivery of automotive parts and accessories to customers. An affiliate of STAG Industrial acquired the property. Dan Benassi, Dan Jones and Sam Deihs of Entre represented the undisclosed seller.

July 30, 2020

Illinois Industrial Leasing Activity Lee & Associates Midwest

Patients Choice Medical Signs 10,186 SF Industrial Lease in Rolling Meadows, Illinois

by Kristin Harlow July 30, 2020

ROLLING MEADOWS, ILL. — Patients Choice Medical has signed a 10,186-square-foot industrial lease at 3601 Edison Place in Rolling Meadows, about 30 miles northwest of Chicago. Rick Anesi of Lee & Associates represented the owner, Otto Holdings. Tom Callahan of Chicagoland Commercial represented the tenant, which is a medical equipment supplier based in Arlington Heights that is expanding operations.

July 30, 2020

Illinois Midwest Restaurant Retail

McDonald’s Reports 30 Percent Drop in Second-Quarter Revenue

by Kristin Harlow July 29, 2020

CHICAGO — McDonald’s Corp. has reported a 30 percent decrease in its consolidated revenue for the second quarter that ended June 30 due to coronavirus lockdowns. The global fast-food chain reported second-quarter net income of $483.8 million, compared with $1.5 billion for the same period a year ago. Chicago-based McDonald’s says it spent more than $200 million on marketing efforts to accelerate recovery from coronavirus losses, which contributed to the drop in net income. In the United States, 99 percent of McDonald’s restaurants were open as of June 30. About 2,000 dining rooms reopened with reduced seating capacity following temporary closures as a result of the COVID-19 pandemic. Chris Kempczinski, president and CEO, says that a strong drive-thru presence and investments in delivery and digital platforms have served the company well through this time.

July 29, 2020

Illinois Industrial Leasing Activity Midwest

LBP Manufacturing Renews 180,417 SF Industrial Lease in Chicago

by Kristin Harlow July 29, 2020

CHICAGO — LBP Manufacturing, a global food packaging company, has renewed its 180,417-square-foot industrial lease at 1401 N. Cicero Ave. in Chicago. Kris Bjorson of JLL represented the tenant in the lease transaction. ML Realty Partners is the landlord. LBP chose to renew its lease due to the building location and interstate access, according to Patrick Shannon, senior vice president at ML Realty.

July 29, 2020

Illinois Leasing Activity Midwest Retail

Northwestern Cutlery Signs 5,000 SF Retail Lease in Chicago

by Kristin Harlow July 29, 2020

CHICAGO — Northwestern Cutlery has signed a 5,000-square-foot retail lease at 7138 W. Higgins Ave. in the Norwood Park neighborhood of Chicago. The kitchen supply store joins tenants such as Walter Lily Flowers, Made Men barber shop, Athletico Physical Therapy and Mather’s. Simeon Spirrison and George Spirrison of Adelphia Properties represented the undisclosed landlord in the lease transaction.

July 29, 2020

Illinois Industrial Leasing Activity Midwest

Midwest Custom Case Leases 239,700 SF Warehouse in Monee, Illinois

by Kristin Harlow July 28, 2020

MONEE, ILL. — Midwest Custom Case Inc. has leased a 239,700-square-foot warehouse at 25975 Cleveland Ave. in Monee, about 40 miles south of Chicago. The designer and manufacturer of store fixture products will relocate from 425 Crossing Drive in University Park once the lease commences this fall. The facility features a clear height of 30 feet, 25 docks, four drive-in doors and 5,265 square feet of office space. Jim Estus and Matthew Stauber of Colliers International represented the tenant. The landlord was undisclosed.

July 28, 2020

Acquisitions Illinois Midwest Multifamily

Interra Realty Brokers $9.5M Sale of Multifamily Building in Chicago

by Kristin Harlow July 27, 2020

CHICAGO — Interra Realty has brokered the sale of 943 N. Crosby St., a 27-unit multifamily rental building in Chicago’s River North neighborhood, for $9.5 million. Built in 2018, the property offers 21 one-bedroom units and six two-bedroom units. It also features one commercial space, which is home to Premium Cabinets of Chicago. Amenities include garage parking, bike storage and a rooftop deck with grilling area. Joe Smazal of Interra represented the buyer, Recon Properties LLC. Recon Management Services Inc. will assume management of the property. Metro Park LLC was the seller.

July 27, 2020

Development Illinois Industrial Midwest

Contegra Construction Builds 544,000 SF Warehouse Near St. Louis

by Kristin Harlow July 24, 2020

PONTOON BEACH, ILL. — Contegra Construction Co. has completed construction of a 544,000-square-foot warehouse in Pontoon Beach, just northwest of St. Louis. It is the first building at NorthPoint Development’s Gateway Tradeport, a 600-acre, 7.5 million-square-foot industrial park. The new property features a clear height of 36 feet, 56 dock doors and parking for 157 trailers. The project team included JF Electric Co., Fennix Construction Co., Affton Fabricating & Welding Co. Inc., Bi-State Fire Protection Corp., Icon Mechanical, Kamadulski Excavating and Grading Co. Inc., Krudwig Structural Engineers, RCS Construction, Focal Pointe Landscaping, Wiese USA and Christian Brothers Asphalt Inc.

July 24, 2020

Development Illinois Industrial Midwest

Meridian Completes Two Spec Industrial Buildings in Elgin, Illinois

by Kristin Harlow July 24, 2020

ELGIN, ILL. — Meridian Design Build has completed construction of two speculative industrial buildings for developer Scannell Properties in Elgin. A 325,020-square-foot building at 2451 Bath Road features a clear height of 36 feet, four drive-in doors, 367 auto parking spaces and 56 trailer stalls. The second property, an 80,400-square-foot facility at 1755 Britannia Drive, features a clear height of 32 feet, two drive-in doors and 92 auto parking spaces. The building can accommodate up to 19 loading docks and as many as three tenants. Paul Woody Architects provided architectural services and Manhard Consulting provided civil engineering services. Kenneth Franzese and John Cassidy of Lee & Associates are marketing the buildings for lease.

July 24, 2020

Development Illinois Midwest Office

J.C. Anderson to Renovate 150,000 SF Office for West Monroe Partners in Chicago

by Kristin Harlow July 24, 2020

CHICAGO — J.C. Anderson has been selected to complete a 150,000-square-foot office buildout for West Monroe Partners at 311 W. Monroe St. in Chicago. Founded in 2002, West Monroe Partners is a national consulting firm with seven offices throughout the country. The firm is relocating from 222 W. Adams St. J.C. Anderson will build out additional offices, open areas, phone rooms, conference rooms and collaborative work areas. The multi-floor project will include a break room on each floor as well as a reception area on the 14th floor and a new staircase leading up to the 15th floor. Completion is slated for October. The 15-story office building spans 382,490 square feet in Chicago’s Loop.

July 24, 2020

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