ELMHURST, ILL. — Colliers International has brokered the sale of an 81,212-square-foot warehouse in Elmhurst for an undisclosed price. Alpha Industrial purchased the asset from Venture One. The facility, recently completed in December, is situated on 4.7 acres at 845 Larch Ave. The property features a clear height of 32 feet, LED lighting, six truck docks, 62 car parking spaces and nine trailer parking spaces. Jeff Devine and Steve Disse of Colliers represented Venture One. At the time of sale, approximately 55,879 square feet remained available for lease.
CHICAGO — Interra Realty has negotiated the $8.2 million sale of a 43-unit apartment building located at 820-26 W. Cuyler Ave. in Chicago’s Buena Park neighborhood. Built in 1921, the property features 23 studios and 20 one-bedroom units. The building was 95 percent occupied at the time of sale. Joe Smazal of Interra represented the seller, a limited liability company controlled by Chicago-based Mo2 Properties. Smazal, along with associate Harrison Pinkus, represented the private local buyer, which purchased the property through a 1031 tax-deferred exchange.
VERNON HILLS, ILL. — Graycor Construction Co. has completed the retail portion of Mellody Farm, a mixed-use development located in Vernon Hills, about 36 miles north of Chicago. Regency Centers is the owner and developer. The retail portion consists of 12 individual buildings. Each of the shops within the center has a different finish, from precast concrete and steel to masonry. Whole Foods, REI, Nordstrom Rack and HomeGoods anchor the 270,000-square-foot retail space. The first tenants began occupying the space in fall 2018. The developer expects the center to be more than 95 percent leased by this fall.
ELGIN, ILL. — Conor Commercial Real Estate and Globe Corp. have begun development of Northwest Pointe III, a two-building industrial project in Elgin. The development will span 349,080 square feet and will be located within the Northwest Corporate Park. The project will feature a clear height of 32 feet, 20 dock doors and two drive-in doors per building. This is the third development by Conor within the park. Ken Franzese and John Cassidy of Lee & Associates will market the property for lease. McShane Construction Co. and Ware Malcomb are providing construction services.
CAROL STREAM, ILL. — Clear Height Properties has acquired a two-building industrial facility in Carol Stream for an undisclosed price. The buildings total 64,285 square feet and are 22 percent leased. Building 130 features one exterior dock and two drive-in doors, while Building 150 offers two exterior docks and three drive-in doors. The buildings, constructed in 1987 and renovated in 2005, sit on 3.8 acres with 157 car parking spaces. Kelly Disser and Michael Freita of NAI Hiffman will market the property for lease.
ROLLING MEADOWS, ILL. — Brown Commercial Group has brokered the sale of a 46,807-square-foot industrial building in the northwest Chicago suburb of Rolling Meadows. The sales price was not disclosed. The transaction was a partial sale-leaseback, as the seller, HK&RP LLC will continue to occupy about 27,000 square feet of the building. The buyer, Alliance Moving and Storage, will occupy the remainder of the building and relocate from its space in Elk Grove Village. Dan Brown of Brown Commercial represented the seller, while Jim Pietrarosso of Brown Commercial represented the buyer.
CHICAGO — Skender has completed interior construction of Aspen Dental’s Midwest headquarters in Chicago. The company now occupies 50,000 square feet at 1040 W. Randolph St. Aspen Dental is a New York-based company that provides administrative and business support to branded dental practices. To accommodate a practice support center and 250 newly created jobs, Aspen Dental’s two-story buildout includes a training center, three large training rooms and an audiovisual media wall. Additional features include a coffee bar, café and catering kitchen space. Skender collaborated with architecture firm Perkins+Will.
WAUKEGAN, ILL. — MCR has acquired the 116-room Hampton Inn & Suites in Waukegan for an undisclosed price. The newly built hotel features Wi-Fi, complimentary breakfast, an on-site convenience store, indoor pool, fitness center and business center. The property is located at 438 Lakehurst Road near Highway 120.
CHICAGO — Scopelitis, Garvin, Light, Hanson & Feary PC, a law firm representing clients in the transportation and logistics industry, has renewed and expanded its office lease at the Inland Steel Building in Chicago. The law firm will occupy the entire 16th floor. The office tower is located at 30 W. Monroe St. Tony Karmin and Corby Marx of Colliers International represented the tenant. Mark Buth and Kelsey Morgan of MB Real Estate represented the landlord, Capital Properties.
CHICAGO — The NHP Foundation has received $53 million for the renovation of the 90-year-old Mark Twain Hotel, a single-room occupancy property in Chicago that the organization acquired in 2016. Single-room occupancy is a form of housing that is typically aimed at residents with low incomes who rent small, furnished rooms. Upon renovation, the property will include 148 studio apartments and seven retail stores. The $53 million recapitalization was made possible by Bellwether Enterprise, Chicago Community Loan Fund, city of Chicago, ComEd, Enterprise Community Investment, The Chicago Housing Authority and NHP. The Mark Twain Hotel was originally built in 1932 and was added to the National Register of Historic Places in 2017. Renovation plans call for the addition of private kitchenettes, a new elevator, new plumbing and electrical work, a roof deck, handicap accessibility and restoration of the building’s façade and common areas. Upgrades will also be made to the building’s ground-floor retail space. Upon completion, the residential units will be income-restricted. The development team includes Weese Langley Weese Architects Ltd. and Linn-Mathes Inc. Heartland Housing Property Management is the property manager. Completion is slated for the end of this year.