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DevelopmentIllinoisMidwestMultifamily

Opus Completes Construction of 113-Unit Apartment Complex in Des Plaines, Illinois

by Kristin Harlow

DES PLAINES, ILL. — The Opus Group has completed construction of Ellison Apartments, a 113-unit apartment complex in Des Plaines. The project, which includes 1,349 square feet of street-level retail space, was a joint venture with Berkshire Residential Investments. Amenities include a fitness center, clubroom, pet spa, game lounge and outdoor amenity deck. A grand opening event is scheduled for Thursday, Sept. 26. Opus served as developer, design-builder and structural engineer. ESG Architects designed the property.

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DevelopmentIllinoisIndustrialMidwest

Premier Delivers 407,338 SF Build-to-Suit Warehouse in Elwood, Illinois

by Kristin Harlow

ELWOOD, ILL. — Premier Design + Build Group has delivered a new warehouse for Midwest Warehouse & Distribution System in Will County’s Elwood. This is the second project Premier has completed for Midwest Warehouse, a full-service logistics company based in Woodridge. Built on a 24-acre site, the new 407,338-square-foot warehouse features a clear height of 36 feet, 70 exterior truck docks, three drive-in doors, 104 trailer parking stalls and 95 car parking stalls. It also includes offices, a conference room, training room and lounge. The build-to-suit project is located at 21157 Walter Strawn Drive, south of Joliet. The project team included Cornerstone Architects Ltd., Manhard Consulting Ltd. and Structures Unlimited.

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DevelopmentIllinoisMidwestMultifamily

111-Unit Mixed-Income Development Opens in Chicago

by Kristin Harlow

CHICAGO — The Concord at Sheridan, a 111-unit mixed-income development, has opened in Chicago’s Rogers Park community. Located at 6438 N. Sheridan Road, the site was formerly a surface parking lot. Of the 111 apartments, 65 are designated as affordable for low-income residents and will be leased to renters from the Chicago Housing Authority (CHA) wait list. The other 46 units will be leased as market rate. The project includes 29,400 square feet of retail space, including a 23,200-square-foot Target. Common area amenities include a lounge, game area, fitness center, conference room, amenity terrace and coworking space. The development has a walk score of 92. The seven-story project is the result of a public-private partnership including the CHA and co-developers Three Corners Development, Iceberg Development, Lightengale Group and Cubit Development Group. Market-rate rents begin at $1,041 while the affordable rents are based on a resident’s income. Renters must earn up to 60 percent of the area median income to qualify. Architecture firm GREC designed the project, while Riteway Madison LLC served as the general contractor.

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HospitalityIllinoisLoansMidwest

JLL Arranges $61M Refinancing for New Hotel in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — JLL has arranged a $61 million loan for the refinancing of Hyatt House Fulton Market, a new 200-room hotel in Chicago’s Fulton Market District. Timothy Joyce, Steven Klein and Nicole Aguiar of JLL arranged the five-year, floating-rate loan on behalf of the borrower, a partnership between Sterling Bay and Wheelock Street Capital. Argentic Real Estate Investments LLC provided the loan, proceeds of which will be used to retire a construction loan. The hotel is the only extended-stay product in the market, according to JLL. The new design features an indoor rooftop pool, outdoor patio, fitness center, 1,570 square feet of meeting space, 5,100 square feet of retail space, breakfast dining area, bar and market.

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AcquisitionsIllinoisMidwestOffice

Transwestern Brokers Sale of 147,096 SF Office Building in Deerfield, Illinois

by Kristin Harlow

DEERFIELD, ILL. — Transwestern Commercial Services has brokered the sale of 1717 Deerfield Road in Deerfield for an undisclosed price. The 147,096-square-foot office building rises three stories and offers 50,000-square-foot floor plates. It is currently 21.2 percent leased by accounting and consulting firm Warady & Davis LLP. Gary Nussbaum and Paige Gunn of Transwestern represented the seller, Hudson Advisors. Canada-based investment group Progressif and Schaumburg-based Helios Property Management purchased the asset.

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DevelopmentIllinoisMidwestOffice

Skender Completes Expansion of LinkedIn’s Chicago Headquarters

by Kristin Harlow

CHICAGO — Skender has completed construction of LinkedIn’s 46,000-square-foot Chicago headquarters expansion at 525 W. Monroe. A staircase now connects the existing space via two floors. The project includes large collaboration areas, open workstations, a salon, mother’s room as well as a fifth-floor amenity space with a garden lounge, game room and music room. California-based LinkedIn’s total footprint in the building is now 185,077 square feet. Skender collaborated with Gensler, ESD Global and Avison Young for the project.

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IllinoisIndustrialLoansMidwest

Mesa West Capital Provides $32.1M Acquisition Loan for Industrial Property in Lockport, Illinois

by Kristin Harlow

LOCKPORT, ILL. — Mesa West Capital has provided a $32.1 million loan for the acquisition of the I-355 Industrial Center in Lockport, 30 miles southwest of Chicago. Built in 2017, the 611,576-square-foot industrial property is situated on 33 acres and comprises two buildings. It features a clear height of 32 feet, 30 dock doors and a shared 185-foot truck court. The property is currently leased to one tenant, Berlin Packaging LLC, which occupies approximately 17 percent of the available space. Steve Roth of CBRE arranged the loan on behalf of the borrower, a joint venture between High Street Realty Co. and Angelo Gordon. A portion of the five-year, floating-rate loan will be used to pay for tenant improvements and lease-up costs.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $3.4M Sale of Retail Center in Chicago

by Kristin Harlow

CHICAGO — Marcus & Millichap has brokered the sale of a 21,916-square-foot retail center in Chicago for $3.4 million. The property, occupied by Dollar Tree and One Hope United, is located at 707 E. 47th St. It is shadow anchored by a $46 million mixed-use building that includes a Walmart Neighborhood Market. Adrian Mendoza, Austin Weisenbeck and Sean Sharko marketed the property on behalf of the seller, a fund manager. A California-based family trust purchased the asset.

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IllinoisLoansMidwestOffice

JLL Arranges $29.8M in Financing for Renovation of Office Property in Oak Brook, Illinois

by Kristin Harlow

OAK BROOK, ILL. — JLL has arranged $29.8 million in renovation financing for 2001 York Road, a 184,525-square-foot office property in Oak Brook. Christopher Carroll of JLL secured the three-year, floating-rate loan on behalf of the borrower, Pembroke IV LLC. The five-story building, located near I-88 and I-294, is fully leased. Comcast occupies the majority of the property, which was built in 1999. Specific renovation plans were not disclosed.

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DevelopmentIllinoisIndustrialMidwest

Krusinski Completes Construction of 112,500 SF Distribution Facility for School Health in Illinois

by Kristin Harlow

ROLLING MEADOWS, ILL. — Krusinski Construction Co. has completed a 112,500-square-foot distribution and packaging facility for School Health, a provider of health supplies, services and solutions. The two-story building is located at 5600 Apollo Drive in Rolling Meadows. School Health is relocating from Hanover Park. The project included the demolition of an existing building onsite. The new facility features a clear height of 32 feet, more than a dozen dock doors, LED lighting and 30,000 square feet of office space. The project team included architect Ware Malcomb, civil engineer SpaceCo Inc. and Trammell Crow Co. as the owner’s representative.

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