Sunday, November 16, 2025
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AcquisitionsIllinoisIndustrialMidwest

Colliers Brokers Sale of Two Warehouses in Illinois

by Kristin Harlow

CAROL STREAM AND ELGIN, ILL. — Colliers International has brokered the sale of two warehouses in Carol Stream and Elgin. The asking price was $7 million, but the final sales price was not disclosed. The Carol Stream property spans 45,746 square feet and includes five loading docks. The building is fully leased to two tenants. The Elgin property spans 35,756 square feet and includes three loading docks. Kelly Joyce of Colliers represented the undisclosed buyer. Jeff Devine and Steve Disse of Colliers represented the seller, Bristol Group.

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DevelopmentIllinoisMidwestMultifamilyRetail

Retail-Residential Project in Winnetka, Illinois Earns Development Approval

by Kristin Harlow

WINNETKA, ILL. — The Winnetka Village Council has given final approval to One Winnetka, a five-story retail-residential project in suburban Chicago. The development will be located adjacent to the city’s train station in the downtown area. David Trandel, CEO of both Springbank Capital Advisors LLC and Stonestreet Partners LLC, is the developer. Lucien Lagrange Studio is the architect. One Winnetka will offer 36 apartment units, 15 condominiums and seven townhome units, as well as 30,000 square feet of street-level commercial space and 355 parking spaces. The three-building project is slated for completion at the end of 2020.

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AcquisitionsIllinoisMidwestRetail

Hanley Investment Group Brokers Sales of Three Retail Properties in Illinois for $5.2M

by Kristin Harlow

WOODRIDGE, ARLINGTON HEIGHTS AND O’FALLON, ILL. — Hanley Investment Group Real Estate Advisors has brokered the sales of three single-tenant retail properties in Illinois for a combined $5.2 million. In Woodridge, Jeff Lefko and Bill Asher of Hanley brokered the sale of a Carrabba’s Italian Grill ground lease. The 6,500-square-foot building was constructed in 2002. Carabba’s has 6.5 years remaining on the original lease term. Lefko and Asher represented the seller, a Schaumburg, Illinois-based private development company. Jeff Gates of The Kase Group represented the Dallas-based buyer. The asset sold for $2 million. In Arlington Heights, a 5,995-square-foot building net leased to Chili’s sold for $1.7 million. Chili’s has seven years remaining on its lease. Lefko and Asher represented the Schaumburg, Illinois-based seller. Don Straub of NNN Property represented the buyer, a California-based private investor completing a 1031 tax-deferred exchange. Lastly, in O’Fallon, Illinois, a 4,700-square-foot MedExpress Urgent Care ground lease sold for $1.4 million. Built in 2016, the 4,700-square-foot building sits on one acre. MedExpress has eight years remaining on its original lease term. Lefko and Asher, with assistance from Alex Apter of L3 Corp., represented the Missouri-based seller. Helvetica Group represented the California-based buyer.

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AcquisitionsIllinoisMidwestMultifamily

Marcus & Millichap Arranges $12.7M Sale of Apartment Complex in Algonquin, Illinois

by Kristin Harlow

ALGONQUIN, ILL. — Marcus & Millichap has arranged the sale of Riverside Plaza in Algonquin for $12.7 million. Built in 2014, the property includes 63 apartment units ranging in size from 1,042 to 1,339 square feet, plus six retail units totaling 9,600 square feet. At the time of sale, the apartments were 92 percent occupied and the retail spaces were vacant. Amenities include a clubroom, event room, fitness center, barbecue area and private plaza. Eric Bell, Frank Roti and Brett Rodgers of Marcus & Millichap marketed the property on behalf of the seller, a financial institution that acquired the property through foreclosure. Bell also secured and represented the buyer, a limited liability company.

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DevelopmentIllinoisMidwestRetail

Contegra Underway on $6M Retail Property Near St. Louis

by Kristin Harlow

EDWARDSVILLE, ILL. — Contegra Construction is underway on a $6 million retail property in Edwardsville near St. Louis. Known as IronWorks, the property will connect to the Madison County Transit Trail. The first phase of the property will include a two-building, 22,000-square-foot retail and restaurant space that is currently 60 percent leased to Sugarfire Barbecue, Global Brew and Strange Donuts. A third building is planned at a later date. Completion of the first two buildings is slated for March 2019. Gray Design Group, civil engineer Thouvenot, Wade & Moerchen and structural engineer Alper Audi make up the project team.

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DevelopmentIllinoisMidwestMultifamily

Related Midwest Opens 70-Story Apartment Tower in Chicago’s Streeterville Neighborhood

by Kristin Harlow

CHICAGO — Related Midwest has opened One Bennett Park in Chicago’s Streeterville neighborhood. The 70-story apartment tower is the first residential tower designed by Robert A.M. Stern Architects. The property is anchored by Bennett Park, a 1.7-acre green space designed by Michael Van Valkenburgh Associates set to open in summer 2019. The tower includes 279 apartment units, located on floors four through 39. Four-bedroom penthouses are located on the top three floors. Monthly rents start at $3,705. One Bennett Park also includes 69 condominiums, which are located on floors 41 through 66. Purchase prices start at $2 million. The condos are slated for completion in spring 2019. Floors three and four include 7,000 square feet of fitness facilities, a 60-foot indoor pool, 10,000-square-foot outdoor deck, children’s play suite, lounge area and entertainment suite.

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DevelopmentIllinoisMidwestMultifamily

Holladay Properties Opens 89-Unit Apartment Complex in Downers Grove, Illinois

by Kristin Harlow

DOWNERS GROVE, ILL. — Holladay Properties has opened Burlington Station, an 89-unit luxury apartment complex in Downers Grove. The site, located at 5100 Forest Ave., previously housed a bank building. The property features an 8,000-square-foot outdoor amenity deck in addition to a fitness center, cyber café and covered parking. Monthly rents start at approximately $1,600.

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AcquisitionsIllinoisMidwestMultifamily

Colliers Negotiates $6.5M Sale of Apartment Building in Grayslake, Illinois

by Kristin Harlow

GRAYSLAKE, ILL. — Colliers International has negotiated the $6.5 million sale of Brittany Square Apartments in Grayslake, about 45 miles north of Chicago. The 83-unit apartment building, built in 1974, is located at 720 Brittany Square. Jack Maloney and Tyler Hague of Colliers represented the longtime family owner, Jim Freese. The undisclosed buyer plans to upgrade units and add a dog park and basketball court.

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