Illinois

Clear Height Properties Acquires Industrial, Office Portfolio in Suburban Chicago for $30M

by Kristin Harlow July 25, 2018

CHICAGO — Clear Height Properties has acquired a four-property, 522,000-square-foot industrial and office portfolio in suburban Chicago for $30 million. The portfolio includes a 201,800-square-foot office building in Oak Brook as well as more than 320,000 square feet of flex properties in Elmhurst, Bensenville and Willowbrook. The office building was 81 percent leased at the time of acquisition. Clear Height plans to upgrade the amenities, including the fitness center, lobby and conference facilities. The other properties include Elmhurst Metro Court in Elmhurst, Tower Lane Business Park in Bensenville and Willowbrook Court in Willowbrook. Transwestern represented the seller, a private investor.

July 25, 2018

Illinois Leasing Activity Midwest Office

Chicago Trading Co. Signs 114,186 SF Office Lease Renewal, Expansion in Chicago

by Kristin Harlow July 24, 2018

CHICAGO — Chicago Trading Co. (CTC) has signed a 114,186-square-foot office lease renewal and expansion at 425 Financial Place in Chicago. CTC, a derivatives trading firm, has expanded its lease by 26,768 square feet. Mark Keebler and Brad Serot of CBRE represented CTC in the lease transaction. Mike Curran of JLL represented the undisclosed landlord. Owner CIM Group has committed to investing significantly in the property, formerly known as 440 S. LaSalle St., to upgrade amenities and improve common areas.

July 24, 2018

Acquisitions Illinois Midwest Net Lease Retail

Boulder Group Arranges $15.5M Sale of Property Net Leased to Jewel-Osco in Metro Chicago

by Kristin Harlow July 24, 2018

PALOS HEIGHTS, ILL. — The Boulder Group has arranged the $15.5 million sale of a single-tenant property net leased to Jewel-Osco in Palos Heights, about 25 miles southwest of Chicago. The 57,685-square-foot building is located on a nearly 10-acre parcel at 12803 Harlem Ave. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Southwest-based private real estate investment company. A Midwest-based family partnership purchased the asset.

July 24, 2018

Illinois Leasing Activity Midwest Retail

Mercedes Benz to Open Pop-up Store on Chicago’s Magnificent Mile

by Kristin Harlow July 23, 2018

CHICAGO — Mercedes Benz has signed a 3,700-square-foot lease to open a pop-up store at 401 N. Michigan Ave. on Chicago’s Magnificent Mile. The automaker will begin occupying the space late this month for a three-month period. Mercedes will offer a rotating display of new models in the building’s plaza. Danny Jacobson, Luke Molloy and Stephen Ansani of CBRE represented Walton Street Capital in the lease transaction. Walton Street recently purchased the 737,000-square-foot office tower, which features 30,000 square feet of retail space. An Apple store currently occupies 22,000 square feet of the retail space.

July 23, 2018

Illinois Industrial Leasing Activity Midwest

Third-Party Logistics Company Signs 371,994 SF Industrial Lease in Lockport, Illinois

by Kristin Harlow July 23, 2018

LOCKPORT, ILL. — Kane Is Able Inc. has signed a 371,994-square-foot industrial lease at Heritage Crossing in Lockport, about 30 miles southwest of Chicago. The third-party logistics warehousing, transportation and supply chain company will occupy the space at 14630 S. 147th Court. The property features a clear height of 36 feet and is located near I-355. Trent Smith and Eric Beichler of Mohr Partners represented the tenant in the lease transaction. Dan Leahy, Mark Moran and John Whitehead of NAI Hiffman represented the landlord, ML Realty Partners.

July 23, 2018

Acquisitions Illinois Midwest Retail

HFF Negotiates $4.5M Sale of Gas Station in Suburban Chicago

by Kristin Harlow July 20, 2018

HICKORY HILLS, ILL. — HFF has negotiated the $4.5 million sale of a 4,500-square-foot BP/Circle K service station in Hickory Hills, a southwest suburb of Chicago. The property is located near I-294. BP and Circle K have operated at the property since 2004 under a triple net lease that has six years remaining. Marc Mandel, Steve Schrenk and Robin Stolberg of HFF marketed the asset on behalf of the seller, a private investor. The North American Development Group NNN REIT was the buyer.

July 20, 2018

Development Illinois Industrial Midwest

Meridian Breaks Ground on 124,575 SF Speculative Industrial Facility in Woodridge, Illinois

by Kristin Harlow July 20, 2018

WOODRIDGE, ILL. — Meridian Design Build has broken ground on a 124,575-square-foot speculative industrial facility in Woodridge, a southwest suburb of Chicago. The property is located at 2379 Davey Road near I-55 and I-355. Molto Properties is the developer. The building will feature a clear height of 32 feet, 18 loadable docks, four drive-in doors and 143 car parking spaces. Completion is slated for this October. Jim Estus of Colliers International is marketing the space for lease. Harris Architects is the project architect and Kimley-Horn is the civil engineer.

July 20, 2018

Acquisitions Healthcare Illinois Midwest

SVN Arranges $2.4M Sale of Medical Office Building in Hoffman Estates, Illinois

by Kristin Harlow July 20, 2018

HOFFMAN ESTATES, ILL. — SVN | Chicago Commercial has arranged the sale of a 20,500-square-foot medical office building known as Governor’s Plaza in Hoffman Estates for $2.4 million. The property is located at 2260 W. Higgins Road. The asset was 60 percent occupied at the time of sale. Olivia Czyzynski and Jennifer Hopkins of SVN represented the out-of-state seller. Zishan Alvi of Sky High Real Estate represented the undisclosed buyer.

July 20, 2018

Acquisitions Illinois Midwest Multifamily

Draper and Kramer, Intercontinental Acquire 298-Unit Apartment Building in Chicago

by Kristin Harlow July 19, 2018

CHICAGO — Draper and Kramer Inc. and Intercontinental Real Estate Corp. have acquired Burnham Pointe, a 28-story, 298-unit apartment building in Chicago’s Printers Row neighborhood. The purchase price was not disclosed. Located at 730 S. Clark St., the property features a mix of one- and two-bedroom units as well as 14,391 square feet of ground-level retail space. The property is currently 96 percent occupied. The buyers plan to renovate the indoor aquatic area, fitness center, business center, club lounge and pet run. Draper and Kramer will manage the apartment building. Sean Fogarty, Marty O’Connell, Wick Kirby and Kevin Girard of HFF brokered the sale. Robert Goldman and Stacy Osmond, lawyers with DLA Piper, advised the buyers on the acquisition. Crescent Heights was the seller.

July 19, 2018

Development Illinois Industrial Midwest

Crow Holdings Industrial Breaks Ground on First Midwest Project in Channahon, Illinois

by Kristin Harlow July 19, 2018

CHANNAHON, ILL. — Crow Holdings Industrial (CHI) has broken ground on a development in Chicago’s I-80 corridor, its first project in the Midwest. The 252,208-square-foot speculative industrial building will be located at 24601 S. Frontage Road in the Channahon Corporate Center. The building will feature a clear height of 36 feet, LED lighting, truck dock loading and trailer parking. ARCO/Murray is the general contractor.

July 19, 2018

Newer Posts

Older Posts