Illinois

Joseph J. Duffy Co. to Break Ground on 37-Unit Affordable Housing Project in Oak Park, Illinois

by Kristin Harlow January 31, 2020

OAK PARK, ILL. — Joseph J. Duffy Co. is set to break ground on a new four-story, 37-unit affordable housing project in Oak Park. An official groundbreaking ceremony will take place on Monday, Feb. 10. The project will be situated on a vacant lot at the corner of Oak Park Avenue and Van Buren Street. The ground floor will house approximately 900 square feet of commercial space plus bicycle storage. Plans also call for a 28-car parking area, an outdoor roof terrace and a multipurpose room. Nonprofit real estate developer The Community Builders is the developer and DesignBridge Ltd. is the architect.

January 31, 2020

Acquisitions Illinois Industrial Midwest

Dayton Street Partners Acquires Two Industrial Properties in Elk Grove Village, Illinois

by Kristin Harlow January 31, 2020

ELK GROVE VILLAGE, ILL. — Dayton Street Partners has acquired two industrial properties in Elk Grove Village. Seller information and purchase prices were not disclosed. The first warehouse, 2454 Elmhurst Road, was built in 1982. Situated on 1.3 acres, the 16,473-square-foot property features 4,900 square feet of office space, five exterior docks and two drive-in doors. It is fully leased to Crown Roll Leaf and Associated Builders and Contractors. The second building, 2500 York Road, spans 55,356 square feet and sits on 3.3 acres. It features two interior docks and three drive-in doors. Dayton Street plans to update painting and lighting. Chicago-based Dayton Street is a commercial real estate investment and development firm focused on industrial properties.

January 31, 2020

Illinois Leasing Activity Midwest Office

IDEX Corp. to Move Headquarters to Northbrook, Illinois

by Kristin Harlow January 30, 2020

NORTHBROOK, ILL. — IDEX Corp. has leased 39,252 square feet of office space at 3100 Sanders Road in Northbrook for its new global headquarters. The manufacturer of dispensing equipment and specialty engineered products is expected to vacate its current office in Lake Forest this summer. IDEX will occupy space on the third floor and have access to a shared conference center and auditorium. Lou Hall and Dan Wilkins of Cushman & Wakefield represented the tenant in the lease transaction. Francis Prock and Daryl Silverman of Colliers International represented the landlord, Allstate Corp.

January 30, 2020

Acquisitions Illinois Industrial Midwest

Transwestern Brokers Sale of 110,355 SF Industrial Building in Aurora, Illinois

by Kristin Harlow January 30, 2020

AURORA, ILL. — Transwestern Commercial Services has brokered the sale of 2350 Prospect Drive in Aurora. The 110,355-square-foot industrial building features a clear height of 38 feet and is fully leased by a transportation and logistics provider. Justin Lerner and Joe Karmin of Transwestern represented the buyer, Denver-based Black Creek Group. Neither the seller nor the sales price were disclosed.

January 30, 2020

Acquisitions Illinois Midwest Retail

Marcus & Millichap Negotiates $7.5M Sale of Chicago Retail Center

by Kristin Harlow January 30, 2020

CHICAGO — Marcus & Millichap has negotiated the sale of Courtesy Plaza in Chicago for $7.5 million. Built in 1987, the 42,346-square-foot retail center is located at 5160 S. Pulaski Road. It is fully leased. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a developer. The team also procured the buyer, a private investor.

January 30, 2020

Acquisitions Illinois Midwest Multifamily Seniors Housing

JLL Brokers Sale of 171-Bed Skilled Nursing Facility in Chicago

by Kristin Harlow January 30, 2020

CHICAGO — JLL Capital Markets has arranged the sale of St. Pauls House, a 171-bed skilled nursing community in Chicago. Lutheran Life Communities sold the facility to an Illinois-based operator for an undisclosed price. St. Pauls House was originally built in 1921, with the additions of the east wing in 1956 and the west wing in 1970. The 100,000-square-foot community is situated on 2.4 acres in Chicago’s Irving Park neighborhood, northwest of downtown. Mike Garbers and Cody Tremper of JLL led the transaction.

January 30, 2020

Illinois Leasing Activity Midwest Office

Three Tenants Sign Leases at 41-Story Office Tower in Chicago

by Kristin Harlow January 29, 2020

CHICAGO — Three tenants have signed office leases at 150 North Michigan, a 41-story Class A office tower in Chicago’s East Loop. The German American Chamber of Commerce of the Midwest Inc. will take a full floor and Insight Global Tech will occupy 11,469 square feet on the 36th floor. Additionally, law firm Jackson Lewis renewed its lease for 29,793 square feet on the 24th and 25th floors. Combined, the three leases total 59,321 square feet. Sara Spicklemire, Kelsey Scheive and Seth Tuscher of CBRE represented ownership, CBRE Global Investors. The 654,508-square-foot property is currently 87 percent leased and recently underwent a $7 million renovation. The property is known for its diamond-shaped peak.

January 29, 2020

Development Illinois Industrial Midwest

Duke Completes Development of 154,000 SF Spec Warehouse in O’Hare Submarket

by Kristin Harlow January 28, 2020

ELK GROVE VILLAGE, ILL. — Duke Realty has completed the development of a 154,000-square-foot warehouse at 901 Chase Ave. in Elk Grove Village. The speculative building features a clear height of 32 feet, 32 exterior docks, two drive-in doors and office space. The eight-acre site includes parking for 25 trailers and 114 cars. Brian Colson and Brian Pomorski of Avison young are marketing the project for lease.

January 28, 2020

Illinois Loans Midwest Multifamily

Arbor Provides $24.6M in Bridge Loans for Multifamily Portfolio in Metro Chicago

by Kristin Harlow January 28, 2020

CHICAGO AND OAK PARK, ILL. — Arbor Realty Trust Inc. has provided three bridge loans totaling $24.6 million for a three-property multifamily portfolio in metro Chicago. Eric Regenbogen of Arbor originated the loans, which provided the borrower with the capital required to purchase and improve the properties that collectively total 135 units. Two of the communities, built in the 1960s, are located in Oak Park. The third property is located in Chicago and was built in 1932.

January 28, 2020

Illinois Leasing Activity Midwest Office

Logical Position Signs 42,696 SF Office Lease in Deer Park, Illinois

by Kristin Harlow January 28, 2020

DEER PARK, ILL. — Digital marketing agency Logical Position has signed a 42,696-square-foot office lease at the Reserve at Deer Park in suburban Chicago. Situated on Lake Cook Road, the office building spans 85,392 square feet and six floors. Amenities include a café, fitness center and conference center. Matthew Frazee, Paul Buckingham and Brian Reaney of Newmark Knight Frank represented the tenant in the lease negotiations. JLL represented building ownership.

January 28, 2020

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