ELK GROVE VILLAGE, ILL. — Brennan Investment Group has recapitalized the Regent O’Hare industrial portfolio in Elk Grove Village. The portfolio is positioned in the heart of the O’Hare submarket, located along the Busse industrial corridor and three miles from Chicago O’Hare International Airport. The portfolio consists of five multi-tenant Class B buildings with an occupancy of 92 percent. Brennan will continue to operate the portfolio, as it has done since its original acquisition in October 2020. Brennan’s Midwest portfolio totals 30 million square feet of industrial space.
SOUTH ELGIN, ILL. — Krusinski Construction Co. will transform a 14,446-square-foot vacant space on the first floor of the Medical and Legal Arts Building in South Elgin into a daycare center for BrightPath Kids, which operates more than 230 centers across the U.S. and Canada. The interior scope includes partial demolition and full reconstruction of the first floor. The new space will feature activity rooms and learning areas equipped with advanced classroom technology. Mechanical, electrical, plumbing and fire protection systems will be enhanced to meet the client’s needs. Exterior upgrades will include parking lot improvements and the addition of a new playground on the east side of the building. Krusinski originally completed the ground-up, two-story building in 2007. The facility previously housed an immediate care clinic for Advocate Aurora Health Sherman Family Healthcare on the first floor, with law offices and conference rooms on the second. The project team includes Colliers Engineering & Design as architect and civil engineer.
CHICAGO — Kiser Group has brokered the $1.6 million sale of a six-unit multifamily building in Chicago’s Lincoln Square neighborhood. The value-add property, constructed in 1928, has been owned by the same family for over four decades. Each unit offers approximately 1,400 square feet of living space with three bedrooms. The property also includes five garage parking spaces. Katie LeGrand and Jacob Price of Kiser brokered the transaction.
EAST DUNDEE, ILL. — Powerhouse Sales, a distributor of detergents, single-dose pods and other household cleaning products, has leased a 10,000-square-foot industrial unit for its new headquarters at 175 Prairie Lake Road in East Dundee, a northwest suburb of Chicago. The facility is now fully leased. Powerhouse’s space features one dock, one drive-in door and a high-end office build-out. Elisabeth Lazzara, Mike DeSerto and Cory Kay of Entre Commercial Realty brokered the lease.
BOURBONNAIS, ILL. — Performance Brokerage Services has negotiated the sale of the Phillips Hyundai of Bradley dealership in Bourbonnais, about 55 miles south of Chicago. Phillip Pascarella founded Phillips Auto Group in 1968. The company continues to own and operate Phillips Chevrolet locations in Bourbonnais, Frankfort and Lansing, Ill., and Phillips RV in Bourbonnais. Phillips Hyundai of Bradley opened in 2017. Paul Kechnie, Emily Bourne and Matt Willis of Performance Brokerage Services represented the seller. Patriot Motors was the buyer. Phillips Hyundai of Bradley will be renamed Patriot Hyundai of Bradley and will be relocated to William R Lathan Senior Drive.
LAKE ZURICH, ILL. — The Boulder Group has brokered the $2.8 million sale of a restaurant property net leased to Chipotle in the Chicago suburb of Lake Zurich. The newly constructed building at 442 S. Rand Road features a drive-thru. Chipotle operates under a 15-year lease term with 10 percent rental escalations every five years and four five-year renewal options. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Chicago-area full-service commercial real estate company. A local individual was the buyer. There are 3,752 Chipotle locations worldwide as of 2025.
CHICAGO — Greystone has provided a $120 million Fannie Mae loan for the acquisition of Fulbrix Apartments in Chicago’s Fulton Market. The 27-story apartment tower features 375 units at 160 N. Elizabeth St. Eric Rosenstock and Jesse Yodice of Greystone originated the financing on behalf of the borrower, Normandy Real Estate. The loan features a 10-year term with seven years of interest-only payments. The $170 million purchase marked Chicago’s largest multifamily sales transaction since 2023, according to Greystone.
CHICAGO — A joint venture between Leopardo Cos. and GMA Construction Group has broken ground on 79 W. Monroe, Chicago’s first office-to-multifamily conversion under the city’s LaSalle Street Reimagined initiative. Ware Malcomb is providing architecture and interior design services for the transformation of the 14-story property, which is known as the Rector Building and is located in The Loop. The project team includes developer R2 Cos. and building owner Lagfin. Built in 1905, 79 W. Monroe is the oldest surviving commercial structure designed by Chicago architect Jarvis Hunt. The renovation project includes converting seven floors to create 117 multifamily units with 41 units designated as affordable housing. There will also be an upscale lobby and an indoor-outdoor amenity floor, including a tenant lounge, fitness center, outdoor areas, bike storage, a dog wash station and gaming room. Preservation and building landmark efforts will focus on retaining and repairing the building’s exterior masonry, including brick, stone and terra-cotta elements. To enhance energy efficiency and reduce costs for future tenants, the existing single-pane windows will be replaced with double-pane insulated glass, matching the existing profile as required by the local Historic Review Board.
LOMBARD, ILL. — Byline Bank’s Commercial Real Estate Group has provided a $9.2 million loan for the conversion of a 103,109-square-foot office building into self-storage space in the Chicago suburb of Lombard. LSC Development is the developer and borrower. The building, located at the intersection of I-355 and North Avenue, will be transformed into 67,853 square feet of climate-controlled self-storage space with 64 secured surface parking spaces for both RVs and regular vehicles across 14,800 square feet. Two loading docks with overhead doors will also be installed. The project is slated for completion in the first half of 2026. Law firm Blank Rome represented Byline Bank, while Duggan Bertsch LLC represented LSC Development.
CHICAGO — The Apartment Source (TAS), a real estate firm specializing in multifamily leasing, has unveiled the merger of its property management division with Westward360, a provider of real estate property management services for rental property owners and community associations. The merger brings together two companies in the Chicago real estate market. According to a release, Westward360’s reputation in property management will help TAS expand into new Chicago and suburban markets, while Westward360 will broaden its portfolio.