DEERFIELD, ILL. — Marcus & Millichap has brokered the sale of the Red Roof Inn Deerfield, a 115-room hotel, for $4.9 million. The property is located at 340 S. Waukegan Road. Ebrahim Valliani, Michael Klar, Allan Miller and Chris Gomes of Marcus & Millichap secured and represented the buyer, a private investor. Seller information was not disclosed.
SHOREWOOD, ILL. — DSC Logistics has leased 375,000 square feet of industrial space at Heartland Corporate Center in Shorewood near the I-55 and I-80 interchange. The Des Plaines-based logistics company has already taken occupancy of 250,000 square feet to start processing inbound deliveries. Within the next six months, DSC will expand to the rest of its space. HSA Commercial Real Estate and Clarion Partners developed the 757,880-square-foot Heartland Corporate Center, located at 21530 SW Frontage Road. The distribution center features a clear height of 36 feet, 108 truck docks and 240 car parking spaces. David Bercu and Matthew Stauber of Colliers International represented HSA and Clarion in the lease transaction. Lynn Reich and Suzanne Serino of Colliers represented DSC.
ROCKFORD, ILL. — SVN Chicago Commercial has brokered the sale of Main Place Apartments, a 60-unit apartment building in Rockford, for $2.2 million. The property is located at 929-935 N. Main St. Reid Bennett and Cody Doran of SVN brokered the transaction. Becovic Management Group acquired the property from an undisclosed seller. Jerry Lumpkins of BMO Harris Bank originated acquisition financing. The deal marks the second time in five years that the asset has traded hands.
CHICAGO — North Wells Capital, the investment affiliate of Urban Innovations Ltd., has begun expansion of 306 W. Erie, a 45,000-square-foot office building in Chicago’s River North. North Wells Capital acquired the building in May 2017 with plans to more than double its size. The expansion, designed by NORR Architects, integrates the existing brick and timber loft structure with a modern five-story addition, which will include an outdoor terrace and amenity space. Upon completion, the project will span 93,535 square feet. ARCO/Murray is the general contractor and JLL is the leasing agent. Urban Innovations will continue providing property management services.
ELMHURST, ILL. — LMC, a wholly owned subsidiary of Lennar, has broken ground on The Flynn, a 212-unit apartment building in Elmhurst. First move-ins are slated for January 2021. Situated at 183 N. Addison Ave., the eight-story development is less than three miles from interstates 290 and 294. Floor plans will range from 565 to 1,745 square feet. Amenities will include a sky deck terrace, clubroom, dog run, fitness center and bike lounge. This is LMC’s seventh community in the greater Chicago area, joining properties such as The Marlowe and The Emerson.
OAK PARK, ILL. — Albion Residential has completed Albion Oak Park in suburban Chicago. The 265-unit luxury apartment development is located at 1000 Lake St. Floor plans range from studios to three-bedroom units. The property features 7,000 square feet of retail space on the ground floor. Amenities include 20,000 square feet of outdoor space in addition to a wellness center, podcast studio, pet spa and indoor dog room. A 7,000-square-foot lobby is open to the public. Albion developed the project in partnership with Wilton Investment Management. CIBC and Associated Bank provided financing. Village Green manages the property. Clark Construction was the general contractor for the project. Monthly rental rates start at $1,750.
CHICAGO — The NHP Foundation, in partnership with Low Income Investment Fund, has acquired Edwin C. Berry Manor Apartments, an affordable seniors housing community in Chicago. The purchase price was undisclosed. NHP plans to preserve and maintain the 57-unit property, which was built in 1991. The property is in the Woodlawn neighborhood, which features many new developments including the future Barack Obama Presidential Library. Operation Pathways, the resident services affiliate of NHP, will provide onsite services.
CHICAGO — Transwestern Commercial Services has secured a 45,457-square-foot office lease at 200 W. Madison in Chicago for FBRK, a membership-based work and philanthropy center dedicated to serving and supporting grant makers, family foundations and investors. Founded by former Chicago Bears football player Israel Idonije, FBRK Impact House will occupy three floors of the Class A office tower, which is owned by Multi-Employer Property Trust with BentallGreenOak as its advisor. The space includes a public work lounge and restaurant on the first floor, with membership access to offices, lounges and amenities on the second and third floors. FBRK Impact House is expected to open in March 2020. Larry Serota, Cece Conway and Holly Bailey of Transwestern represented FBRK in the site selection and lease negotiation.
CHICAGO — Starbucks Coffee Co. has opened its Reserve Roastery in downtown Chicago. The 35,000-square-foot, five-story roastery opened to the public on Friday, Nov. 15 and is the largest Starbucks location. The store is located on the Magnificent Mile in a space formerly occupied by Crate & Barrel. All of the coffee beans roasted at the facility are served and sold on site. There are three coffee bars at the roastery. Baristas make classic espresso beverages at the coffee bar on the main floor. An experiential bar can be found on the third floor where customers can learn more about the art and science of coffee. A barrel-aged coffee bar can be found on the fourth floor where guests can enjoy cocktail-inspired coffee creations exclusive to the Chicago roastery. In addition to beverages, visitors can purchase food at Princi, a boutique bakery and café. The Chicago roastery joins locations in Seattle, Shanghai, Milan, New York and Tokyo.
DEERFIELD, ILL. — Colliers International principals Darryl Silverman and Steve Kling recently negotiated office leases totaling more than 116,000 square feet at Parkway North Center in Deerfield. Colliers represented building ownership, Fulcrum Asset Advisors and True North Management. At Six Parkway North, Lundbeck and Advanced Clinical signed leases. The property is now 95 percent leased. Lundbeck, a global pharmaceutical company, leased an additional 24,500 square feet to bring its total footprint to 73,000 square feet. John Goodman of Savils represented Lundbeck. Advanced Clinical signed a new lease for 16,521 square feet and will relocate from Ten Parkway North. Larry Serota and John Marquardt of Transwestern represented the tenant. At Nine Parkway North, now 88 percent leased, Michael Silver & Co. leased 19,253 square feet. The firm will relocate from Skokie in 2020. John Goodman and Isabel Preskill of Savils represented the accounting and consulting firm. Global executive search and leadership consulting firm Spencer Stuart leased 7,890 square feet. Bill Rogers and Isabelle Montagne of JLL represented the tenant.