MELROSE PARK, ILL. — SignCo, a local print, design and sign manufacturing company, has leased 19,800 square feet of industrial space at 1975 Cornell Ave. in Melrose Park, a western suburb of Chicago. The multi-tenant building spans 45,000 square feet. Michael Plumb and Brad Simousek of Lee & Associates represented the undisclosed landlord in the lease transaction. Ryan Kehoe of Lee & Associates represented the tenant. In May, Kehoe also represented SignCo when it sold its 6,900-square-foot building at 1327 N. 31st St. in Melrose Park. Keller Williams represented the buyer, Midwest AutoBody, in the sales transaction that occurred in May.
SOUTH ELGIN, ILL. — Entre Commercial Realty has brokered the sale of a 23,108-square-foot industrial building in South Elgin, about 40 miles west of Chicago. The sales price was undisclosed. The property is located at 320-350 Industrial Drive. It is fully leased to an undisclosed tenant and features six drive-in doors, two docks, recently renovated office space and a new parking lot. Cory Kay and Mike DeSerto of Entre represented the buyer, a private investment group. Bruce Granger of NAI Hiffman represented undisclosed seller.
DEKALB, ILL. — Facebook has unveiled plans to build an $800 million data center in DeKalb. The social media giant’s data center will occupy 505 acres of the 1,000-acre ChicagoWest Business Center, which is owned by Krusinski Construction Co. The project is expected to rely solely on renewable energy and create about 100 jobs. This will be the first data center for Facebook in Illinois, but the company has 15 data centers globally. DeKalb is approximately 65 miles west of Chicago. Krusinski began assembling land for ChicagoWest 14 years ago.
LOMBARD, ILL. — Bridge Development Partners LLC and Cabot Properties have unveiled plans to develop Bridge Point I-355, an industrial building spanning 133,100 square feet in Lombard, about 20 miles west of Chicago. Bridge and Cabot bought the vacant, 7.2-acre site from Location Finders International. The development will feature a clear height of 32 feet, 22 exterior docks, four drive-in doors, 10 trailer stalls and 170 car parking spaces. The development will be divisible for multiple tenants. The project is slated for completion in the fourth quarter. Dominic Carbonari, Frank Griffin and Kate Coxworth of JLL represented the seller.
CHICAGO — NAI Hiffman has brokered the sale of a 42,000-square-foot cold storage building in Chicago’s Brighton Park neighborhood for $7.5 million. In conjunction with the sale, NAI Hiffman also negotiated a six-year lease with the sole tenant, Moesle Meat Co. Built in 2016, the property is located at 5115 S. Millard Ave. John Basile of NAI Hiffman represented the buyer, Chicago-based Karis Cold Storage, a newly launched private investment and development company.
MUNDELEIN, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has acquired a 100,562-square-foot industrial building in Mundelein, about 40 miles north of Chicago. The purchase price was undisclosed. The single-tenant building was fully leased at the time of sale. Built in 1973, the property sits on four acres at 111 Washington Blvd. It features a clear height of 18 feet, 10 docks and one drive-in door. Marc Samuels of Cushman & Wakefield represented the undisclosed seller in the transaction. VK Industrial V LP is a partnership between Venture One and Kovitz Investment Group.
CHICAGO — City Club Apartments (CCA) has broken ground on the second phase of MDA within downtown Chicago’s Loop. The first phase was a 23-story historic building dating back to 1927 that CCA redeveloped into apartments in 2006. Phase II will include the addition of a new seven-story building that will add 81 units to the existing 190 apartments and penthouses. A new rooftop sky park will include a heated outdoor pool, outdoor theater, grill stations, cabanas and lounge seating. The sixth floor will house a clubroom and conference room that will connect to Phase I via a skybridge. Phase I and II residents will have access to combined amenities, including a library, fitness center, bark park and concierge services. The first residents are expected to begin moving into Phase II in March 2021. The initials MDA are derived from the building’s original name, the Medical & Dental Arts Building. Detroit-based CCA currently has four communities under construction — two in Detroit, one in Kansas City and one in Chicago.
LAKE FOREST, ILL. — JLL Capital Markets has brokered the sale of Apartment Homes at Kelmscott Park in Lake Forest, about 30 miles north of Chicago. The sales price was undisclosed. The luxury apartment property consists of three buildings with 111 units that average 1,220 square feet. The community is 92 percent occupied and the majority of renters are age 50 and older. Monthly rents start at $2,141. Marty O’Connell, Wick Kirby, Kevin Girard and Amanda Friant of JLL represented the sellers, Focus and funds managed by Castlelake LP. Matt Schoenfeldt and Chris Knight of JLL originated acquisition financing on behalf of the buyer, Intercontinental Real Estate Corp. The Fannie Mae loan has a 10-year term. Steve Centrella and Chris LaFrance of Intercontinental led the transaction on behalf of Intercontinental.
CHICAGO — Vermilion Development has topped off Alcove Wicker Park, a 43-unit, luxury condominium building set to deliver this fall in Chicago’s Wicker Park neighborhood. Hirsch MPG Architecture designed the seven-story building and @properties Developer Services is the sales and marketing firm. Floor plans range from 1,365 to 2,430 square feet, and each condo unit features its own balcony or terrace measuring at least 8 feet. The first condo buyers are expected to take occupancy in early October. Prices range from $600,000 to $1.1 million. The project also features 12 adjacent townhomes that range in size from 2,895 to 3,475 square feet. The for-sale, four-level townhomes range from $1.1 million to $1.4 million. The townhomes are slated for completion in late November and each feature their own bonus room and private roof deck.
HUNTLEY, ILL. — Principle Construction Corp. has completed the conversion of a former Chevrolet auto dealership in Huntley into a brewing facility and full-service restaurant for More Brewing. The property is located at 13980 Automall Drive within metro Chicago. The 25,302-square-foot building includes 11,302 square feet of beer production space and a 14,000-square-foot restaurant with two private dining rooms that will double as barrel-aging rooms. Guests dining at the restaurant will be able to view the brewing area through 12-foot glass walls. The property features four drive-in doors for the distribution of More’s products and 114 car parking spaces for customers and employees. Harris Architects provided architectural services. Dominic Carbonari of JLL provided brokerage services on behalf of More. A timeline for opening was not disclosed.