BOLINGBROOK, ILL. — Ulta Beauty has expanded its corporate headquarters in Bolingbrook by 70,720 square feet. The company now leases nearly 379,000 square feet at Tallgrass Corporate Center, which is a 533,365-square-foot Class A office building. Middleton Partners, the landlord, is adding a new tenant lounge in the building. Existing amenities include a fitness center, conference center, cafeteria and outdoor walking path. Ulta Beauty has maintained its headquarters at Tallgrass Corporate Center since 2008. Francis Prock, Dave Florent and Brent Jacob of Colliers International represented Middleton Partners in the lease expansion.
CHICAGO — Hines and McCaffery Interests have opened The Apartments at Lincoln Common, a 538-unit apartment property on Lincoln Avenue in Chicago. Skidmore, Owings and Merrill and Antunovich Associates designed the two-tower property, which features one-, two- and three-bedroom units as well as penthouses. Amenities include a coworking lounge, game room, clubroom, fitness center, yoga studio, 20th-floor rooftop lounges and concierge services. Monthly rents start at $1,814 for studios.
EVANSTON, ILL. — Marcus & Millichap has negotiated the sale of 820 Davis St., a 76,239-square-foot office building in Evanston, for $10.6 million. The five-story building is located four blocks south of Northwestern University. Stephen Lieberman of Marcus & Millichap marketed the property on behalf of the seller, a North Shore-based private family that had owned the property for nearly 20 years. Lieberman also procured the buyer, Free Market Ventures, a Chicago-based private investment group. The buyer plans to do an extensive renovation and modernization of the building.
CHICAGO — Marcus & Millichap has arranged the sale of the third and fourth floors of the Museum of Broadcast Communications (MBC) building in Chicago’s River North neighborhood for $6 million. The property, located at 360 N. State St., is a four-story, mixed-use condo building totaling approximately 54,000 square feet. Until the sale, the MBC utilized the upper three floors, but will now consolidate operations on the second floor. STK Chicago, a restaurant, occupies the ground floor. Kyle Stengle and Stephen Lieberman of Marcus & Millichap marketed the floors on behalf of the museum. Fern Hill Co., a privately held real estate development and investment firm in Chicago, was the buyer.
ELK GROVE VILLAGE, ILL. — ML Realty Partners has acquired a 218,000-square-foot industrial building located at 701 Devon Ave. in Elk Grove Village for an undisclosed price. The property features a clear height of 24 feet and 16 exterior docks. Steve Stone of Cushman & Wakefield represented ML Realty in the sale. The seller was not disclosed.
CHICAGO — The city of Chicago has selected Studio ORD to lead the design of the $8.5 billion expansion at the Chicago O’Hare International Airport. Studio ORD will design the new O’Hare Global Terminal and Global Concourse. The city will now enter into contract negotiations with Studio ORD. In the coming months, a second team will be selected from the remaining four finalists to design two new satellite concourses to be built west of Terminal 1. The expansion will create tens of thousands of jobs, according to the city. Airport revenues, not taxpayer dollars, will be used to pay for the expansion. At 2.2 million square feet, the new O’Hare Global Terminal will more than double the space at the existing Terminal 2. The terminal project is valued at $2.2 billion. Construction is expected to begin in 2023. For the first time at O’Hare, the new Global Terminal will integrate international and domestic operations, enabling travelers to more easily connect to domestic flights from destinations from around the world under one roof. More than 83 million passengers use the airport each year. Studio ORD is a joint venture comprised of the following firms: Corgan Associates Inc., Milhouse Engineering and Construction …
CHICAGO — Developers Bob Wislow and Camille Julmy have selected Clayco to construct a 12-story office development in Chicago’s West Loop. Located at 215 N. Peoria St., the $26 million mid-rise project will include a ground-level restaurant and lobby. Floors two through four will feature a 45-space parking garage and floors six through 12 will be leasable office space. Plans also call for an amenity rooftop. Clayco plans to break ground next month. Clayco’s in-house design firms, BatesForum and LJC Collaborative, make up the project team. CBRE will market the property for lease.
SVN | Chicago Commercial Brokers $5.3M Sale of Loft Office Building in Chicago’s Pilsen Neighborhood
CHICAGO — SVN | Chicago Commercial has brokered the sale of a 100,544-square-foot loft office building in Chicago’s Pilsen neighborhood for $5.3 million. The property is located at 2201 S. Halsted St. Angelo Labriola and Paul Cawthon of SVN represented the seller. Stephen Cusano and James Mead of SVN represented the buyer.
JOLIET, ILL. — Cullinan Properties Ltd. has broken ground on Rock Run Crossings, a 265-acre mixed-use project in Joliet. Cullinan is underway on clearing the site and plans to begin construction late this spring. A groundbreaking ceremony took place on Friday, March 22. Cullinan has also revealed the first anchor tenant at Rock Run Crossings. The 16-screen Regal Cinemas movie theater will span 70,000 square feet. The developer plans to announce more tenants later this year.
TORONTO — WPT Industrial Real Estate Investment Trust, a publicly traded company based in Toronto, has increased its U.S. holdings by agreeing to acquire a 13-property logistics portfolio for approximately US$226 million. The industrial buildings total 2.2 million square feet and are situated in infill submarkets across the United States. The property names and addresses were not disclosed, but WPT says the portfolio will increase its scale in Chicago, Milwaukee and Minneapolis. The portfolio also includes assets in three new markets for the REIT, including Los Angeles and Miami. Additionally, WPT has confirmed that eight of the assets are leased to a single tenant and the other five are leased to multiple tenants. “We are very pleased to source a high-quality portfolio acquisition that advances the REIT’s strategic priorities to add scale and diversification with a focus on markets and properties that have the greatest potential to drive long-term growth,” says Scott Frederiksen, CEO of WPT. WPT plans to fund the acquisition with cash on hand and proceeds from its senior unsecured credit facility. In anticipation of the purchase, WPT has received lender commitments to amend and extend the credit facility from US$300 million to $450 million. The REIT expects …