Wednesday, April 29, 2026
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DevelopmentIllinoisIndustrialMidwest

Bridge Development Breaks Ground on Final Phase of Industrial Campus in Waukegan, Illinois

by Kristin Harlow

WAUKEGAN, ILL. — Bridge Development Partners LLC has begun development of the third and final phase of its Bridge Point North campus in Waukegan. Phase III will consist of four new buildings totaling 918,972 square feet. The buildings will range in size from 100,314 to 500,800 square feet. Clear heights will range from 32 to 36 feet. Phase III buildings are slated for completion in summer and fall 2020. Whit Heitman, Sam Badger and Jared Paff of CBRE are the leasing agents for the project. Premier Design + Build Group is the general contractor. The project team also includes architect Cornerstone Architects Ltd., structural engineer LJB Inc. and civil engineer Manhard Consulting Ltd. CIBC Bank and Simmons Bank provided project financing. Bridge Point North is a 225-acre campus that Bridge has been developing since 2015. Tenants include Amazon, Medline, Thermoflex and Bolke-Miller Corp.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $10.6M Sale of Apartment Property in Chicago’s Lincoln Park

by Kristin Harlow

CHICAGO — Interra Realty has brokered the sale of 1540 Fullerton in Chicago’s Lincoln Park neighborhood for $10.6 million. The four-story, 25-unit apartment property is located at 1540 W. Fullerton Ave. Completed in 2015, the fully leased asset includes 12 two-bedroom units, 12 three-bedroom units and one commercial space. Joe Smazal of Interra represented the private seller while Jeremy Morton and Ted Stratman of Interra represented the undisclosed buyer. At $425,400 per unit, the sale was the largest multifamily sale in Lincoln Park so far this year, according to CoStar data.

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DevelopmentIllinoisMidwestMultifamily

Lathrop Community Partners Revitalizes Public Housing Project in Chicago

by Kristin Harlow

CHICAGO — Lathrop Community Partners, a development partnership between Related Midwest, Heartland Housing and Bickerdike Redevelopment Corp., has revitalized the Julia C. Lathrop Homes public housing project in Chicago. Originally built in 1938 as part of the nation’s New Deal public housing effort, the project now consists of a mixed-income residential property. The rehabilitated North Campus includes the original administration building and updated apartment buildings along the re-activated riverfront. The 35-acre project features 16 buildings. Design firm HED served as the executive architect for Phase I of the redevelopment, which is now open. The firm helped with modernizing historic structures, addressing accessibility challenges and coordinating new technology and HVAC systems. When all phases are complete, Lathrop will comprise a total of 1,116 residences, with 494 units leased at market rates, 222 offered to working families that meet affordable housing guidelines and 400 reserved for Chicago Housing Authority households. The flagship amenity at Lathrop is the five-acre riverfront park, reimagined by landscape architectural firm Michael Van Valkenburgh Associates. The project team also included Farr & Associates, JGMA, McGuire Igleski & Associates and Terra.

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AcquisitionsIllinoisIndustrialMidwest

Darwin Realty Arranges Sale of 90,000 SF Industrial Building in Elgin, Illinois

by Kristin Harlow

ELGIN, ILL. — Darwin Realty has arranged the sale of a 90,000-square-foot industrial building located at 501 Davis Road in Elgin. Consideration for the sale was in excess of $5 million. The property features seven loading docks, three drive-in doors, 5,000 square feet of office space and a clear height of 24 feet. Noel Liston of Darwin brokered the transaction. Chicago Logistic Service owned and occupied the building. Navis Industries, which provides plastic packaging films, purchased the building and plans to relocate from a 25,000-square-foot facility in Elgin.

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IllinoisIndustrialLeasing ActivityMidwest

Pacific Surfaces Signs 40,000 SF Industrial Lease in Elk Grove Village, Illinois

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Pacific Surfaces LLC has signed a 40,000-square-foot industrial lease in Elk Grove Village. The India-based granite distributor has maintained a sales office in Chicago for several years, but this is the company’s first warehouse in the United States. Located at 1300 Mark St., the single-story facility features six docks, several bridge cranes and a clear height of 22 feet. It is situated in Elk Grove Industrial Park. The new property will enable Pacific Surfaces to sell smaller quantities to a broader market. John D’Orazio of Colliers International represented Pacific Surfaces in the lease transaction.

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AcquisitionsIllinoisIndustrialMidwest

Barber Murphy Brokers Sale of 21,000 SF Industrial Building Near St. Louis

by Kristin Harlow

MILLSTADT, ILL. — Barber Murphy has brokered the sale of a 21,000-square-foot industrial building in Millstadt, about 17 miles southeast of St. Louis. The sales price was not disclosed. The property is located at 600 S. Breese St. In-Land Management Group LLC sold the asset to East Washington Street Property LLC. Barber Murphy represented both parties in the sale.

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DevelopmentIllinoisIndustrialMidwest

Amazon to Open 1 MSF Fulfillment Center in Channahon, Illinois

by Kristin Harlow

CHANNAHON, ILL. — Amazon has unveiled plans to open a fulfillment center in Channahon, southwest of Joliet. The facility will create more than 500 new full-time jobs. Employees at the more than 1 million-square-foot center will pick, pack and ship large items, such as sports equipment, patio furniture, fishing rods, pet food, kayaks, bicycles and household goods. Amazon currently employs more than 11,000 full-time associates throughout the state of Illinois.

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AcquisitionsIllinoisIndustrialMidwestMissouriOffice

NAI Hiffman Negotiates $17.1M Sale-Leaseback of Young Innovations Properties in Illinois, Missouri

by Kristin Harlow

ALGONQUIN, ILL. AND EARTH CITY, MO. — NAI Hiffman has negotiated the sale-leaseback of several properties occupied by Young Innovations Inc. for $17.1 million. Young Innovations is a manufacturer and distributor of consumable dental supplies and equipment. The assets include the company’s 95,000-square-foot headquarters at 2260 Wendt St. in Algonquin as well as the firm’s three manufacturing facilities totaling 117,400 square feet in Earth City, a suburb of St. Louis. Young Innovations will maintain operations at all properties under a 20-year lease with the buyer, New York-based New Mountain Net Lease. Pat Sullivan and Ryan Chambers of NAI Hiffman brokered the sale.

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DevelopmentIllinoisMidwestOffice

Skender Completes Interior Construction of 80,000 SF Spaces Location in Chicago

by Kristin Harlow

CHICAGO — Skender has completed the interior construction of the eight-story, 80,000-square-foot Spaces location in Chicago. Spaces has assumed occupancy of the former Sports Authority building, located at the intersection of LaSalle Drive and Ontario Street. As the sole tenant, Spaces will enjoy private access to the building’s roof terrace, also renovated by Skender. At its new location, coworking company Spaces will provide workspace access to more than 500 business professionals from companies of all sizes. Users will have access to a gym space, large reception area and conference rooms of varying sizes. Skender collaborated with Nelson Cos., Loring Engineers, Himes Associates and Spaces parent company IWG. The property will serve as the third location in Chicago for Spaces.

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IllinoisMarket ReportsMidwestMidwest Market ReportsOffice

Chicago CBD Office Market in the Groove, Even Property Taxes Unlikely to Bring It Down

by Kristin Harlow

Despite recent concerns of an imminent market correction, the Chicago central business district (CBD) still has room to run. There are many signs of optimism in the market, including continued healthy fundamentals and a wealth of redevelopment projects injecting new life and vibrancy into various submarkets. In the second quarter, downtown Chicago wrapped up its busiest quarter for office leasing since 2016. Additionally, the downtown office vacancy rate of 11.6 percent was the lowest it had been since 2016. To top it off, Chicago is experiencing historically high annual levels of net absorption, which potentially could put upward pressure on rents, and sublease space is relatively scarce. It’s hard to find stronger evidence of a robust CBD office market. Redevelopment projects Market statistics aside, noteworthy redevelopments have Chicagoans genuinely excited as they look forward to a new crop of influential spaces that will drive the next iteration of the Chicago office market. The real estate fairy tale that has real estate aficionados entranced — not only in Chicago but nationally — is 601W Cos.’ Old Post Office project at 433 W. Van Buren. More than 1 million square feet has already been leased at the 2.8 million-square-foot space, largely thanks …

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