Illinois

J.C. Anderson Completes 23,000 SF Office Buildout for OppLoans in Chicago

by Kristin Harlow July 13, 2020

CHICAGO — J.C. Anderson has completed a 23,000-square-foot office buildout for OppLoans at 130 E. Randolph St. in Chicago. OppLoans is a financial technology platform that serves middle-income, credit-challenged consumers. Previously, the company occupied space on the 33rd floor but has now expanded to occupy additional space on the 26th floor as well. J.C. Anderson completed additional meeting rooms, workstations, huddle rooms, support spaces and a pantry. Eastlake Studio provided architectural services and Cushman & Wakefield provided project management services.

July 13, 2020

Healthcare Illinois Midwest Retail

Despite Third-Quarter Losses, Walgreens to Invest $1B to Open Doctors’ Offices at US Stores

by Kristin Harlow July 10, 2020

DEERFIELD, ILL. — In its fiscal 2020 third-quarter results, Walgreens Boots Alliance Inc. said its performance was “significantly impacted by the COVID-19 pandemic,” causing sales to be roughly $700 million to $750 million lower. The decline is largely attributed to its international stores. In April, sales at Walgreens stores in the United Kingdom were down 85 percent. Deerfield, Ill.-based Walgreens says that pharmacy volume was impacted globally by a drop in doctor visits and hospital patient admissions. Profits were also hurt by a shift to low-margin items and higher supply chain and cleaning costs. Additionally, Walgreens has announced that it will be the first national pharmacy chain to offer full-service doctor offices co-located at its stores on a large scale, following a trial that began last year. The partnership with VillageMD will create 500 to 700 physician-led primary care clinics in more than 30 markets in the next five years, with the intent to build hundreds more thereafter. The clinics will be staffed by more than 3,600 primary care providers who will be recruited by VillageMD. Under the terms of the new agreement, Walgreens will invest $1 billion in equity and convertible debt in VillageMD over the next three years, …

July 10, 2020

Development Illinois Industrial Midwest

Principle Construction Completes 879,040 SF Spec Warehouse in Monee, Illinois

by Kristin Harlow July 10, 2020

MONEE, ILL. — Principle Construction Corp. has completed an 879,040-square-foot speculative warehouse in Monee, about 35 miles south of Chicago. Principle completed the project in a joint venture with Location Finders International and DeBartolo Development. The building sits on 61 acres within the larger Bailly Ridge development. The facility features a clear height of 36 feet, 100 dock positions, 191 trailer stalls, 161 auto parking stalls and four drive-in doors. Harris Architects designed the project. Traci Payette and Stephanie Park of CBRE are the leasing agents.

July 10, 2020

Illinois Industrial Leasing Activity Midwest

Superior Felt & Filtration Signs 75,000 SF Industrial Lease in McHenry, Illinois

by Kristin Harlow July 10, 2020

MCHENRY, ILL. — Superior Felt & Filtration (SFF) has signed a 75,000-square-foot industrial lease at 1359 Ridgeview Drive in McHenry, about 50 miles northwest of Chicago. McHenry-based SFF has experienced rapid growth due to the production of personal protection equipment for coronavirus. Owned by Midwest Industrial Funds (MIF), the 218,064-square-foot building is a former Motorola production site. It features a clear height of 28 feet. MIF plans to renovate the office space and add more air conditioning capacity. Dan Benassi, Dan Jones and Sam Deihs of Entre Commercial Realty represented SFF in the lease transaction.

July 10, 2020

Illinois Leasing Activity Midwest Office

Parent Company of Blue Cross & Blue Shield Illinois Signs 103,533 SF Office Lease in Chicago

by Kristin Harlow July 9, 2020

CHICAGO — Health Care Service Corp. (HCSC), the parent company of Blue Cross & Blue Shield of Illinois, has signed a 103,533-square-foot office lease at Mural Park in Chicago. Located at 920 W. Cullerton St., the two-building office project is now 63 percent leased. Mural Park is a redevelopment of two historic 100,000-square-foot industrial loft buildings in Chicago’s Pilsen neighborhood. It was completed in January 2019. HCSC will fully occupy one of the buildings and join existing tenants Puratos Group, Noble Forward, Relay Chicago and Back of the Yards Coffee. Jeff Dowdell and Katie Steele of Transwestern Real Estate Services represented the landlord, Condor Partners, in the lease transaction with HCSC. Sean Reynolds, Meredith O’Connor, Matthew Carolan and Amy Berg of JLL represented HCSC.

July 9, 2020

Development Illinois Midwest Multifamily Seniors Housing

McShane Underway on 166-Unit Senior Living Development in Algonquin, Illinois

by Kristin Harlow July 9, 2020

ALGONQUIN, ILL. — McShane Construction Co. is underway on the construction of a new senior living development in suburban Chicago known as The Oaks at Algonquin. The 166-unit project will incorporate independent living, assisted living and memory care units. Spectrum Retirement Communities is the developer and Vessel Architecture is the architect. The three-story community will feature amenities such as three restaurants, a salon, media lounge, theater, health club, community center and doctor and therapist offices. Completion is slated for January 2022.

July 9, 2020

Illinois Industrial Leasing Activity Midwest

H. Betti Industries Signs 41,168 SF Industrial Lease in Bensenville, Illinois

by Kristin Harlow July 9, 2020

BENSENVILLE, ILL. — H. Betti Industries Inc. (HBI) has signed a 41,168-square-foot industrial lease at 350 N. York Road in Bensenville near O’Hare International Airport. HBI distributes amusement, vending and audio-visual equipment, including parts and services for video games, pinball machines, jukeboxes, pool tables and currency changers. Beginning in August, the company will consolidate two of its existing operations — a 25,000-square-foot distribution center in Bensenville and a smaller satellite location in Wood Dale — at the new location. Owned by Prologis, 350 N. York Road features a clear height of 32 feet, 10 loading docks and office and showroom space. John D’Orazio of Colliers International represented HBI in the lease.

July 9, 2020

Illinois Loans Midwest Multifamily

Parkview Financial Provides $19M Construction Loan for Multifamily Project in Bloomingdale, Illinois

by Kristin Harlow July 8, 2020

BLOOMINGDALE, ILL. — Parkview Financial has provided a nearly $19 million construction loan for Bloomingdale Trails, a 90-unit rental multifamily project located at 290 Stonington Drive in Bloomingdale. Schiller Park, Ill.-based MB Bloomingdale Trails LLC was the borrower. Situated on 5.3 acres, the development will feature four three-story buildings. All of the units will be two-bedroom floor plans and average 1,170 square feet. Currently, about 20 percent of the construction has been completed, including demolition, underground utilities and foundation. Completion is slated for September.

July 8, 2020

Development Illinois Industrial Midwest

Summit Design + Build Converts Warehouse into Manufacturing Facility for EJ Basler in Illinois

by Kristin Harlow July 8, 2020

SCHILLER PARK, ILL. — Summit Design + Build has completed the conversion of an industrial warehouse into a 33,000-square-foot manufacturing facility for EJ Basler Co. in Schiller Park. EJ Basler is a manufacturer of precision machined parts and components. The building sits next to the company’s campus. Summit oversaw the partial demolition of the building and installed a new glass façade and sunlight paneling. Amstadter Architects was the project architect.

July 8, 2020

Development Illinois Midwest Multifamily Seniors Housing

Evergreen Completes $7M Renovation of Affordable Seniors Housing Property in Suburban Chicago

by Kristin Harlow July 8, 2020

MAYWOOD, ILL. — Evergreen Real Estate Group has completed $7 million in renovations to Garden House of Maywood, a 144-unit affordable seniors housing community in the western Chicago suburb of Maywood. Housing and Human Development Corporation (HHDC) acquired the 10-story building in 2018 using tax credits to help fund capital improvements. Evergreen has managed it since 2017, and Evergreen Construction Co. managed the nine-month project. Garden House is a HUD apartment property. HUD residents usually pay 30 percent of their gross income for rent. The phased renovations allowed residents to remain in their homes during construction. All residential units were updated with new windows and window treatments. Sinks, cabinetry, countertops, appliances and flooring were replaced in many units. Bathrooms were also repainted and refitted, with 15 units receiving accessibility upgrades. Common areas received new paint, flooring and furniture, with complimentary Wi-Fi installed throughout. In addition, the large lounge area was reconfigured to create dedicated spaces for a library, TV room, kitchen and multi-purpose community room. Elevators were modernized, and the electrical, plumbing and HVAC systems were upgraded and enhanced. Exterior improvements include a facade restoration, new roofing, repaired sidewalks and curbs, resurfaced parking lot with two accessible spaces, and a …

July 8, 2020

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