Illinois

Silver Group Arranges Sale of Property Occupied by Jewel-Osco in Sycamore, Illinois

by Kristin Harlow March 11, 2019

SYCAMORE, ILL. — The Silver Group has arranged the sale of a single-tenant property occupied by Jewel-Osco in Sycamore, about 40 miles southeast of Rockford. The sales price was not disclosed. The 61,567-square-foot building, constructed in 2008, sits on 8.4 acres. The store contains a pharmacy and Starbucks. At the time of sale, there were 19 years remaining on the lease from Albertsons Cos. LLC. The Silver Group represented the buyer, a family partnership completing a tax-deferred exchange. An insurance company provided an acquisition loan.

March 11, 2019

Development Illinois Industrial Midwest

Principle Completes Speculative Warehouse Project for Seefried Properties in Elk Grove Village

by Kristin Harlow March 11, 2019

ELK GROVE VILLAGE, ILL. — Principle Construction Corp. has completed a speculative warehouse on behalf of Seefried Properties in Elk Grove Village. The 79,205-square-foot building is located on 11.7 acres at 2001 Arthur Ave. The property includes 3,960 square feet of office space. Building features include 18 docks, two drive-in doors, 104 parking stalls and a clear height of 32 feet. The owner will do business as CH Realty VII/I Chicago Lunt LLC. Harris Architects provided design services.

March 11, 2019

Illinois Leasing Activity Midwest Office

Ardmore Roderick Signs 12,700 SF Headquarters Lease in Chicago

by Kristin Harlow March 11, 2019

CHICAGO — Ardmore Roderick has signed a 12,700-square-foot headquarters lease for the entire third and fourth floors at 1500 W. Carroll Ave. in Chicago’s Fulton Market West. Ardmore is a civil engineering firm providing design engineering, construction inspection and management, structural engineering and survey work. Dayton Street Partners, which owns the property, recently completed a $4 million renovation at the six-story, 38,000-square-foot loft office building. The renovation included new exterior windows, bathrooms, HVAC system and lighting. The developer also added a modern lobby, rooftop deck, bicycle garage and parking for 42 cars. Mike Curran and Mark Georgas of JLL represented Dayton Street in the lease with Ardmore. Other recently signed leases at the building include Via Technik, Limitless Coffee, Neato Agency and Breather.

March 11, 2019

Development Illinois Midwest Office

Franklin Partners Unveils Redevelopment Plans for Office Building in Downtown Chicago

by Kristin Harlow March 8, 2019

CHICAGO — Franklin Partners has unveiled the redevelopment plans for One Mag Mile, an office property located at 980 N. Michigan Ave. This includes significant lobby renovations and the recent opening of international juice chain Joe & the Juice. The upgraded lobby will have a hospitality influence with new finishes and modern lighting. Wright Heerema Architects is working with Franklin Partners on the design. One Mag Mile offers 400,000 square feet of office and retail space. Tenants Berkshire Hathaway Home Services, Singerman Real Estate and The Realreal recently expanded their office leases within the property. Phil Golding and Todd Siegel of CBRE brokered the lease transaction with Joe & the Juice.

March 8, 2019

Acquisitions Illinois Midwest Retail

Quantum Brokers $5.4M Sale of Retail Building in Warrenville, Illinois

by Kristin Harlow March 7, 2019

WARRENVILLE, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a multi-tenant retail building in Warrenville for $5.4 million. At the time of sale, the 18,000-square-foot property was 93 percent leased to Starbucks, Potbelly Sandwich Works, T-Mobile, Spotted Paw and Jazza Nails. Chad Firsel and Daniel Waszak of Quantum brokered the transaction. A Chicago-based private investor purchased the asset from a Chicago-based investment group.

March 7, 2019

Acquisitions Illinois Midwest Multifamily

SVN Arranges $2.7M Sale of Multifamily Portfolio in Rockford, Illinois

by Kristin Harlow March 7, 2019

ROCKFORD, ILL. — SVN Chicago Commercial has arranged the sale of a two-property multifamily portfolio in Rockford for $2.7 million. The properties, which total 79 units, include the neighboring Orchard Hills and Forest View. Cody Doran and Reid Bennett of SVN brokered the transaction. Buyer and seller information was not disclosed.

March 7, 2019

Acquisitions California Illinois Industrial Kentucky Nevada Oregon Pennsylvania Washington Western

Colony Capital Acquires National Industrial Real Estate Portfolio for $1.2B

by Amy Works March 6, 2019

DALLAS — Affiliates of Dallas-based Colony Capital have purchased a national portfolio of 54 light and bulk industrial buildings for $1.2 billion. The value-add portfolio is located across 10 U.S. markets, totaling 11.9 million square feet, and is 71 percent leased. A portion (48) of the buildings are last-mile light industrial assets and were acquired through Colony’s existing light industrial platform. The remaining six buildings are bulk industrial and were purchased through a newly formed joint venture, in which Colony Capital has 51 percent interest and a third-party institutional investor has 49 percent interest. Located in Northern and Southern California, Washington, Oregon, Nevada, Illinois and Pennsylvania, the light industrial portfolio totaling 7.7 million square feet and was 73 percent leased at the time of sale. The bulk portfolio totals 4.2 million square feet, with an average of 700,000 square feet per building, and was 67 percent leased to blue chip, international companies. CBRE National Partners represented the undisclosed seller in the deal.

March 6, 2019

Acquisitions Illinois Midwest Multifamily

Essex Brokers $5.7M Sale of Apartment Building in Chicago’s Edgewater Neighborhood

by Kristin Harlow March 6, 2019

CHICAGO — Essex Realty Group Inc. has brokered the sale of a 43-unit apartment building in Chicago’s Edgewater neighborhood for $5.7 million. The property, located at 6031-6043 N. Paulina St., has been owned by the same family for more than 50 years. The building includes 37 one-bedroom units and six two-bedroom units. Doug Imber, Kate Varde and Clay Maxfield of Essex brokered the transaction. Brad Desent and his siblings sold the asset to a private investor completing a 1031 tax-deferred exchange. Records indicate the property was purchased in 1965 for $260,000.

March 6, 2019

Acquisitions Hospitality Illinois Midwest

Marcus & Millichap Negotiates $6.3M Sale of Comfort Inn & Suites Hotel in Geneva, Illinois

by Kristin Harlow March 5, 2019

GENEVA, ILL. — Marcus & Millichap has negotiated the sale of the Comfort Inn & Suites in Geneva for $6.3 million. The 90-room hotel, built in 2000, is located at 1555 E. Fabyan Parkway in Kane County. Ebrahim Valliani, Michael Klar, Scott Harris, Allan Miller and Chris Gomes of Marcus & Millichap marketed the property on behalf of the seller. Valliani, Klar, Miller and Gomes represented the buyer.

March 5, 2019

Illinois Leasing Activity Midwest Retail

Rumble Selects Gold Coast Neighborhood for its First Chicago Location

by Kristin Harlow March 5, 2019

CHICAGO — Rumble, a boxing-inspired workout concept, has selected its first Chicago location at 1139 N. State St. in the Gold Coast neighborhood. Nicole Cardot and Adam Secher of Baum Realty Group assisted Rumble in selecting the location. Expected to open in late summer, the 8,000-square-foot facility will be Rumble’s sixth location nationwide. Rumble classes are 45 minutes and feature full-body strength training and conditioning workouts. The company is known for its aqua training bags, which are tear drop-shaped, water-filled punching bags. Baum represented Rumble in negotiations with the landlord, Newcastle Limited. Danny Jacobson, Luke Molloy and Stephen Ansani of CBRE represented Newcastle.

March 5, 2019

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