ELGIN, ILL. — Crow Holdings Industrial (CHI), in partnership with the California State Teachers’ Retirement System (CalSTRS), has purchased a 42-acre site at 2600 Mason Road in Elgin. The developer plans to break ground this month on Park 90 Elgin, a three-building speculative industrial development spanning 638,000 square feet. Building A will span 155,000 square feet, Building B will total 106,000 square feet and Building C will measure 377,000 square feet. Buildings A and B will include a clear height of 32 feet, while Building C will feature a clear height of 36 feet. Brian Kling and Reed Adler of Colliers International represented CHI in the land sale. The duo has also been retained to complete the lease-up of Park 90 Elgin.
GREEN OAKS, ILL. — NorthShore Care has signed a 161,585-square-foot, full-building industrial lease in Green Oaks, about 35 northwest of Chicago. The property, located at the intersection of Rockland Road and I-94, is currently under construction and slated for completion in January 2020. Situated on 7.6 acres, the building will include a clear height of 32 feet, 33 exterior docks, two drive-in doors and parking for up to 188 cars. NorthShore Care, a provider of incontinence products, will move from its existing facility at 1200 Barclay Blvd. in Buffalo Grove upon completion of the new facility. Christopher Volkert of Colliers represented the landlord and developer, Panattoni, in the lease transaction. Whit Heitman of CBRE represented the tenant.
CHICAGO — EQ Office, an office company wholly owned by Blackstone, has reopened the Wacker Drive lobby at Willis Tower. The lobby features a new art installation by artist Jacob Hashimoto that hangs from the ceiling and spans 42 feet. The lobby transformation is part of the office tower’s $500 million renovation project. Now that the Wacker Drive lobby has reopened, the Adams Street lobby will be closing for redevelopment. The Franklin Street lobby will remain open. The renovation project will add more than 300,000 square feet of new retail, dining and entertainment space at the base of the tower as well as 150,000 square feet of new tenant amenity spaces and a 30,000-square-foot outdoor deck. More than 15,000 employees work at the 110-story Willis Tower.
BOLINGBROOK, ILL. — PREMIER Design + Build Group has broken ground on a 219,000-square-foot speculative warehouse in the southwest Chicago suburb of Bolingbrook. Known as Fountain Square Building 5, the facility is the final development within Fountain Square Commerce Center. The developer, Bridge Development Partners LLC, acquired the commerce center in November 2018. Fountain Square Building 5 will include 48 docks, two drive-in doors, a clear height of 32 feet and parking for 30 trailers and 178 cars. Completion is slated for March 2020. The project team includes Cornerstone Architects Ltd., SPACECO and Structural Resources Inc.
ILLINOIS — MK Asset Investment has acquired industrial properties in Franklin Park and Waukegan and sold a retail center in Round Lake Beach. The aggregated value of the transactions exceeded $10 million. The Franklin Park industrial property spans 87,500 square feet and is situated on 5.9 acres at 11608 Copenhagen Drive. MK Asset will add new docks, upgrade the lighting and provide a fresh coat of paint. The Waukegan building spans 35,500 square feet and is located at 1850 S. Lakeside Drive within Amhurst Industrial Park. A private investor acquired the 61,685-square-foot Eagle Creek Shopping Center, which is anchored by Big Lots.
GREEN OAKS, ILL. —Biddeford Blankets has signed a 96,810-square-foot industrial lease at 13820 S. Business Center Drive in Green Oaks in northeastern Illinois. The manufacturer of heated blankets is moving to Green Oaks Business Center from Mundelein, where it had occupied space for 15 years. The new location offers proximity to I-94 and includes 3,305 square feet of office space. Michael Fonda and John Hauser of Avison Young represented the tenant in the lease transaction. The landlord, Colony Capital Inc., was self-represented by Scott Cordes, a vice president at the company.
CHICAGO — Colliers International has brokered the sale of a two-building apartment portfolio that contains 24 units in Chicago’s Hyde Park neighborhood for $3.9 million. The buildings are located at 5427-29 and 5430-32 S. University Ave. Both properties rise three stories and were built in the early 1900s. Tyler Hague of Colliers represented the seller, The Lutheran School of Theology at Chicago. RDG Funds LLC purchased the portfolio.
WOODBRIDGE, ILL. — Monument Capital Management, an A-Rod Corp. company, has acquired Townhomes at Highcrest in Woodbridge for an undisclosed price. Monument plans to make approximately $1.5 million in capital improvements, including the installation of new flooring, modern appliances, new landscaping and the addition of a fitness center. Built in 1968, the property includes a pool and laundry facilities. This is Monument’s third property in the Chicago area and is part of Monument Opportunity Fund IV, which was launched earlier this year. Highcrest Apartments LLC was the seller.
AURORA, ILL. — LTD Commodities has signed a 10-year lease renewal at its 694,367-square-foot distribution facility located at 1000 Bilter Road in Aurora. Acquired by e-commerce giant Amerimark Holdings in December 2017, LTD Commodities is a catalog and online merchandiser. Jason West and Chris Cummins of Cushman & Wakefield represented the tenant. Matt Neumann of Cushman & Wakefield represented the landlord, Liberty Property Trust.
CHICAGO — Glassdoor has unveiled plans to further expand its presence in Chicago. The technology company, which operates a recruiting and job review website, has signed a long-term lease for two floors of a new office building, West End on Fulton. Glassdoor will maintain its existing space and operations at 1330 West Fulton. The new space will support up to 400 employees and the company plans to create up to 500 new jobs in Chicago over the next several years. Glassdoor expects to move into its new 52,000-square-foot space in summer 2020. Kyle Kamin and Dan Persa of CBRE represented Glassdoor in the lease transaction. Sara Spicklemire and Kelsey Scheive of CBRE represented the developer, Trammell Crow Co.