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Illinois

DevelopmentIllinoisMidwestMultifamily

Contegra Constructs First Apartment Buildings at $26M Project in Shiloh, Illinois

by Kristin Harlow

SHILOH, ILL. — Contegra Construction Co. has completed the first three apartment buildings at the $26 million development known as Thirteen01 at Hartman Lakes in Shiloh. To date, nearly 100 leases have been signed at the 216-unit, nine-building complex, according to developer Greenmount Retail Center LLC. Contegra has also completed the clubhouse and expects to finish the remaining apartments by this summer. Monthly rents start at $950 for one-bedroom units and $1,250 for two-bedroom units. St. Louis-based 2B Residential is leasing and managing the property.

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IllinoisLeasing ActivityMidwestRetail

GoodVets Opens Two New Chicagoland Animal Hospitals

by Kristin Harlow

CHICAGO — Animal hospital operator GoodVets has opened two new full-service facilities in Chicagoland. GoodVets Southland is a 3,000-square-foot facility located at 18355 S. Halsted St. in Glenwood. GoodVets West Loop is a 4,500-square-foot facility located at 901 W. Jackson Blvd. in the West Loop neighborhood. The company had previously opened a location in the Streeterville neighborhood.

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DevelopmentIllinoisIndustrialMidwest

Meridian Breaks Ground on 673,920 SF Speculative Industrial Building Near St. Louis

by Kristin Harlow

EDWARDSVILLE, ILL. — Meridian Design Build has broken ground on a 673,920-square-foot speculative industrial building on behalf of developer Exeter Property Group in Edwardsville near St. Louis. The new facility is located on a 135-acre parcel within Gateway Commerce Center. The property will feature a clear height of 36 feet, 132 loading docks, four drive-in doors, 398 car parking stalls and 171 exterior trailer stalls. JRA Architecture and Stock & Associates Consulting Engineers make up the project team. A timeline for completion was not disclosed.

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AcquisitionsIllinoisMidwestRetail

Higher Grounds Education Buys 9,897 SF Building in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Higher Grounds Education has purchased a 9,897-square-foot building to open a Montessori school in Naperville. The purchase price was not disclosed. The property, situated on one acre at 5051 Ace Lane, formerly served as an Alder School daycare facility. Linda Kost and Dave Schmidt of Realty Metrix Commercial represented the seller, DBJ Corp. Higher Grounds plans to renovate the property and reopen the facility late this summer. Higher Grounds is a Montessori education program for children from birth to adolescence.

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IllinoisLeasing ActivityMidwestMixed-UseRetail

Retailers Begin Opening at Addison & Clark Near Chicago’s Wrigley Field

by Kristin Harlow

CHICAGO — Retailers have begun opening at Addison & Clark, a mixed-use project located across the street from Chicago’s Wrigley Field. The lineup includes a 10,000-square-foot Harley Davidson showroom; a 30,000-square-foot Lucky Strike Social, a combination bowling alley, arcade and event venue; the city’s first Beerhead Bar and Eatery; Shake Shack; and Do-Rite Donuts and Chicken. Tenants yet to open include Cargo Food Authority, Cinemex CMX Cinemas, Kilwins and a 32,000-square-foot health club. A joint venture between M&R Development and Bucksbaum Retail Properties is developing the transit-oriented project. RMK Management is managing The Residences at Addison & Clark, a 148-unit luxury apartment component of the project that recently earned LEED Silver certification. First residents moved into the property in September 2018. Monthly rents range from $1,980 to $4,510.

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IllinoisLeasing ActivityMidwestRetail

Peter Millar Opens Flagship Store in Chicago’s Gold Coast

by Kristin Harlow

CHICAGO — Men’s luxury apparel retailer Peter Millar has opened its first Chicago storefront at 877 N. Rush St. in the Gold Coast neighborhood. At 3,000 square feet, the location will serve as the retailer’s flagship store. Matt Ramsey and Anthony Genovese of JLL represented the tenant in the lease transaction. Founded in 2001, Peter Millar produces a wide range of casual sportswear, outerwear, tailored dress apparel and performance golf attire.

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AcquisitionsIllinoisMidwestMixed-Use

Marcus & Millichap Brokers $3.2M Sale of Mixed-Use Building in Roselle, Illinois

by Kristin Harlow

ROSELLE, ILL. — Marcus & Millichap has brokered the sale of Promenade Pointe of Roselle, a 15,626-square-foot mixed-use building located 30 miles northwest of Chicago, for $3.2 million. The property, completed in 2017, includes three retail spaces on the first floor, eight apartment units on the second floor and one office space on the second floor. At the time of sale, the retail spaces were fully occupied. Andrean Angelov and Ryan Engle of Marcus & Millichap brokered the transaction. Timothy Stephenson Jr. of Marcus & Millichap assisted in representing the undisclosed buyer.

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AcquisitionsIllinoisMidwestOffice

Briar Meads Purchases 300,000 SF Office Property in Lisle, Illinois

by Kristin Harlow

LISLE, ILL. — Briar Meads Capital LLC has purchased a 300,000-square-foot office property located at 2441 and 2443 Warrenville Road in Lisle. The purchase price was not disclosed. Briar Meads plans to rebrand the property as The Westwood and work with Wright Heerema Architects to update amenities. Plans call for upgrades and expansions to the café, fitness center, conference center, lounges and outdoor areas in addition to renovations of the lobby and common area spaces. The asset consists of two office towers built in 1991 and 1997. Currently, 157,426 square feet of space is available for lease. Dan Svachula, Michael Simpson, Adam Showalter and Allyson Yates of Cushman & Wakefield will market the property for lease. NAI Hiffman will manage the property.

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IllinoisIndustrialLeasing ActivityMidwest

Lions Logistics Signs 25,054 SF Industrial Lease in Elk Grove Village, Illinois

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Lions Logistics has signed a 25,054-square-foot industrial lease in Elk Grove Village. The 50,117-square-foot building, located at 1260 Lunt Ave., is now fully leased. Chris Lydon and Chris Tecu of Avison Young represented the landlord, CenterPoint Properties. Main Street Real Estate Group represented Lions Logistics, a third-party logistics company. The building includes 2,929 square feet of newly constructed office space as well as two interior docks and one drive-in door.

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Company NewsIllinoisMidwest

Cushman & Wakefield Launches Sports & Entertainment Advisory Group

by Kristin Harlow

CHICAGO — Cushman & Wakefield has established a new Sports & Entertainment Advisory Group to provide solutions for designing, building, financing, operating and maximizing revenue streams for athletic and entertainment venues. The new S&E Advisory Group includes partnerships with industry leaders such as Chicago-based sports and entertainment marketing firm W Partners. The group will serve sports franchise owners, local governments and municipalities, private owners of entertainment venues and public and private universities. It will also provide advisory services for arenas, stadiums, adjacent retail and entertainment complexes, amphitheaters, convention centers, motorsports tracks and other event venues. Craig Cassell and Michael Sessa will lead the group in client services, which include sponsorship, branding and naming rights consulting; venue programming and phasing advisory; food and beverage consulting; public-private sponsorship structuring; revenue cost-model analysis; and other commercial real estate services.

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