Illinois

Planmeca USA Purchases Former Serta Mattress Building in Hoffman Estates, Illinois

by Kristin Harlow June 13, 2019

HOFFMAN ESTATES, ILL. — Planmeca USA Inc., a manufacturer of dental equipment, has purchased the former Serta Mattress Co. building at 2600 Forbs Ave. in Hoffman Estates. The company will relocate its U.S. headquarters to the 90,000-square-foot building later this year. The headquarters will comprise Planmeca’s corporate office, a testing and distribution center and a showroom and training center. Planmeca currently operates out of two buildings totaling 77,000 square feet in Roselle, approximately 30 miles northwest of Chicago. Britt Casey and Jeff Matella of Cushman & Wakefield represented Planmeca in the transaction. Mark Smith of CBRE represented Serta. The purchase price was not disclosed.

June 13, 2019

Illinois Leasing Activity Midwest Restaurant Retail

Chicken Salad Chick to Debut in Illinois With New Restaurant in Edwardsville

by Kristin Harlow June 13, 2019

EDWARDSVILLE, ILL. — Chicken Salad Chick, a fast-casual chicken salad restaurant concept, has expanded to its 15th state with its first Illinois restaurant opening in Edwardsville. This is the brand’s third location in the St. Louis area, with existing restaurants in Chesterfield and Creve Coeur. Located at 2323 Plum St., the 3,000-square-foot, Edwardsville restaurant is scheduled to open on Wednesday, June 26. Hannah Lukowski of SJ Restaurants LLC will own and operate the property. Lukowski currently owns three Firehouse Subs locations across Illinois and Missouri.

June 13, 2019

Acquisitions Illinois Midwest Multifamily

Berkadia Negotiates $7M Sale of Multifamily Property in Rantoul, Illinois

by Kristin Harlow June 13, 2019

RANTOUL, ILL. — Berkadia has negotiated the $7 million sale of South Pointe Commons in Rantoul, about 19 miles northeast of Champaign. The 245-unit multifamily property was originally built in 1959 as military housing for Chanute Air Force Base, which closed in 1993. The property is situated on 150 acres and consists of 37 two-story buildings. Floor plans are comprised of three- and four-bedroom units ranging from 1,050 to 2,300 square feet. Ralph DePasquale, Parker Stewart and Alex Blagojevich of Berkadia represented the Urbana, Ill.-based seller. Philadelphia-based Odin Properties purchased the asset.

June 13, 2019

Illinois Industrial Leasing Activity Midwest

Peloton Signs 51,032 SF Industrial Lease in Franklin Park, Illinois

by Kristin Harlow June 13, 2019

FRANKLIN PARK, ILL. — Peloton Interactive Inc. has signed a 51,032-square-foot industrial lease at 10601 Seymour Ave. in Franklin Park. The 225,891-square-foot building was constructed in 2018. Peloton Interactive is a technology company dedicated to at-home fitness. The company’s products include Peloton Bike, Peloton Tread and Peloton App. The Peloton space at the building includes 2,798 square feet of office space, nine exterior docks, 15 trailer stalls, 60 car parking spaces, LED lighting and a clear height of 32 feet. The building’s first tenant, Xpress Global Systems LLC, occupies 66,773 square feet. Adam Tarantur and Steven Tick of Podolsky Circle LLC represented Peloton in the lease transaction. Tom Rodeno and Jim Estus of Colliers International represented the landlord, CenterPoint Properties.

June 13, 2019

Development Illinois Industrial Midwest Top Stories

Elion Unveils $2B Expansion Project for Logistics Park in Wilmington, Illinois

by Kristin Harlow June 12, 2019

WILMINGTON, ILL. — Elion Partners has renamed RidgePort Logistics Center to Elion Logistics Park 55 (ELP 55) and planned a $2 billion development project at the site in Wilmington, approximately 40 miles southwest of Chicago. Following the expansion, ELP 55 will become the largest rail-served industrial park in the Midwest, according to the real estate investment firm. Elion began acquiring land for the park in 2016. To date, 6.3 million square feet of multi-tenant and build-to-suit space exists. Some of the tenants include Post, Lineage and Batory Foods. The master plan comprises up to 2,500 acres, which includes an existing, full-service TA Petro Travel Plaza and up to 140 acres for planned commercial development. Current projects underway include an on-site first responders’ station, interconnectivity via planned pedestrian walking paths and an on-site helipad. ELP 55 features two miles of frontage along the BNSF’s Transcontinental Mainline with up to 12 million square feet of potential rail services, and three miles of I-55 frontage with a complete interchange. The park is located in a regional distribution hub that reaches 27 percent of the U.S. population within a one-day drive, according to Elion. “The goal is to develop a mixed-use logistics park that …

June 12, 2019

Acquisitions Illinois Midwest Multifamily

Essex Brokers $15M Sale of Multifamily Building in Suburban Chicago

by Kristin Harlow June 11, 2019

PARK RIDGE, ILL. — Essex Realty Group Inc. has brokered the sale of The Parker in Park Ridge for $15 million. The 46-unit apartment building features two-bedroom floor plans. Amenities include a fitness center, car washing area, pet run and grilling area. A joint venture between CA Residential and Orchard Development Group developed the property in 2016. Jim Darrow, Jordan Gottlieb and Jordan Multack of Essex represented the developers in the sale. Doug Imber, Kate Verde and Clay Maxfield of Essex represented the buyer, a private investor completing a 1031 tax-deferred exchange.

June 11, 2019

Acquisitions Illinois Industrial Midwest

Colliers Arranges Sale of 50,080 SF Warehouse in Bartlett, Illinois

by Kristin Harlow June 11, 2019

BARTLETT, ILL. — Colliers International has arranged the sale of a 50,080-square-foot warehouse in Bartlett for an undisclosed price. Located in Brewster Creek Business Park, the property sits on 2.8 acres at 1291 Humbracht Circle. Built in 2003, the facility features a clear height of 24 feet and 66 car parking spaces. Bremskerl, a Germany-based producer of abrasives for industrial applications, occupies the facility for its North American headquarters. John D’Orazio of Colliers represented the private seller in the transaction. Cabot Properties purchased the property.

June 11, 2019

Acquisitions Hospitality Illinois Midwest

Syndicated Equities, Nath Cos. Acquire Two Hotels in Rosemont, Illinois

by Kristin Harlow June 10, 2019

ROSEMONT, ILL. — Syndicated Equities Group, in a joint venture with Nath Cos., has acquired the Hilton DoubleTree and Embassy Suites hotels in Rosemont for an undisclosed price. The separate hotels are located along River Road approximately one mile from Chicago O’Hare International Airport. The DoubleTree has 369 rooms while the Embassy Suites has 294 rooms. As part of the acquisition, new franchise agreements were secured with Hilton. Nath will serve as the manager.

June 10, 2019

Acquisitions Illinois Midwest Multifamily

Essex Brokers $6.3M Sale of Apartment Building in Chicago

by Kristin Harlow June 10, 2019

CHICAGO — Essex Realty Group Inc. has brokered the sale of The Portage Park Theater Apartments in Chicago’s Portage Park neighborhood for $6.3 million. The property, located at 4044-4060 N. Milwaukee Ave., consists of 34 apartment units. It also features four fully leased commercial spaces totaling 5,460 square feet. All of the apartments and storefronts were fully renovated in 2017. Doug Imber, Kate Varde and Clay Maxfield of Essex brokered the transaction. The buyer and seller information was not disclosed.

June 10, 2019

Acquisitions Illinois Midwest Multifamily

TLC Management Acquires 250-Unit Townhome Community in St. Charles, Illinois

by Kristin Harlow June 7, 2019

ST. CHARLES, ILL. — TLC Management Co. has acquired Prairie Winds of St. Charles, a 250-unit townhome community in suburban Chicago. The purchase price was not disclosed. Completed in 2018, the property includes a mix of one-, two- and three-bedroom rental units averaging 1,254 square feet. Community amenities include nature trails, a pool, bark park, playground, clubhouse, billiards room and fitness center. Sean Fogarty, Marty O’Connell, Wick Kirby, Kevin Girard and Kyle Butler of HFF marketed the property on behalf of the seller, Executive Capital Corp.

June 7, 2019

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