SCHAUMBURG, ILL. — Podolsky Circle CORFAC International has arranged the sale of a 43,800-square-foot office building in Schaumburg for $2.7 million. The fully leased property is located at 1000 E. State Parkway within the Woodfield Business Center. Alissa Adler, John Homsher and Paul Tesdal of Podolsky Circle represented the seller, Clear Height Properties. Kelly Joyce of Colliers International represented the buyer, a private investor.
ALGONQUIN, ILL. — Premier Commercial Realty has brokered the sale of a 5,085-square-foot building formerly occupied by Fradillio’s restaurant in Algonquin. The property, located at 2321 Algonquin Road, includes a drive-thru. Bruce Kaplan and Kevin Kaplan of Premier represented the seller, North Shore Bank. Eddie Hernandez of Casa Grande Realty represented the buyer, who plans to open a Burrito Parrilla Mexicana restaurant. There are currently six other Burrito Parrilla Mexicana locations in Illinois.
CHICAGO — Skender has begun interior construction of a new, 207,000-square-foot office space for C.H. Robinson in Chicago’s Lincoln Park. The office is located within Sterling Bay’s Lincoln Yards development. The third-party logistics and supply chain management provider is relocating from its current office at 1840 N. Marcey St. The new space will feature open office workstation areas, private offices, conference rooms, two reception areas, a café, 5,000-square-foot roof terrace and an open atrium. Skender is working with designers Vocon and SOM for the project. Completion is slated for this July.
STERLING, ILL. — American Street Capital (ASC) has secured a $5.8 million loan for the refinancing of Sterling Healthcare, a 121-bed skilled nursing facility in northwest Illinois. Services at the property include short-term rehabilitation, memory, post-surgical and long-term care. Igor Zhizhin of ASC arranged the five-year loan, which features a 25-year amortization schedule. The lender was not disclosed.
SCHAUMBURG, ILL. — HREC Investment Advisors has arranged the sale of the 209-room Embassy Suites by Hilton Chicago in Schaumburg. The sales price was not disclosed. The hotel is located nine miles from Chicago O’Hare International Airport. Scott Kaniewski of HREC represented the seller, a joint venture between Hotel Capital and ORIX Real Estate Americas. Pearlshire Capital Group purchased the asset.
CHICAGO — Global Builders Inc. has broken ground on a 42,000-square-foot retail development located at 637-647 W. Roosevelt Road in Chicago. The project developer is 635-647 W. Roosevelt Road LLC. Bob’s Discount Furniture will anchor the property and lease two of the three floors. Completion is slated for this fall. James Schutter, Terry Alexa and Luke Sementa of Newmark Knight Frank will handle lease-up of the remaining 10,000 square feet of space on the first floor.
CHICAGO — CBRE has arranged the sale of 800-810 Fulton Market in Chicago for $12.2 million. The 25,952-square-foot property is located in the Fulton Market district and has flexible zoning options. The buyer, Thor Equities, has purchased several buildings in the neighborhood. Keely Polczynski of CBRE represented the seller, R2 Cos.
GLENDALE HEIGHTS, ILL. — King Solutions Inc. has signed a 160,669-square-foot industrial lease in Glendale Heights, about 30 miles west of Chicago. The property is located at 500 Regency Drive. This is the first location in the Chicago area for the asset-based 3PL provider of freight transportation management, retail project logistics, order fulfillment and warehousing services. Built on 9.4 acres in 1989, the warehouse features a clear height of 25 feet, seven exterior docks, one interior dock and two drive-in doors. The property can accommodate parking for 200 cars. Michael Morgan, Jim Herbst and Brian Netzky of Colliers International represented King Solutions in the lease transaction. Jeff Janda of Lee & Associates represented the landlord, Gateway.
CHICAGO — Cohen Financial, a division of SunTrust Bank, has secured a $5.8 million loan for the refinancing of Workshop 4200 located at 4200 W. Diversey Ave. in Chicago. The 153,000-square-foot industrial property has been renovated into a workshop for creative and artisan tenants such as photographers, visual and sculptural artists, candle makers, coffee roasters and furniture makers. Workshop 4200 features a gallery space in the common area that hosts events, meetings, happy hours and showcases tenant artwork. Many of the artist tenants have relocated to the building from other properties in the city. Dan Rosenberg and Matt Terpstra of Cohen Financial arranged the loan with Morgan Stanley.
CHICAGO — Summit Design + Build LLC has broken ground on a 15,000-square-foot office and retail development in Chicago’s Clybourn corridor. Developer R.A. Zweig Inc. owned the site and purchased the neighboring lot to expand the new building’s footprint. A former retail building that had sat vacant for over four years was demolished in the summer of 2017 to make way for the new addition to the Clybourn corridor. The property, located at 2300 N. Clybourn Ave., will feature first-floor retail space and second-floor creative office space. Completion is slated for the end of this year. Amstadter Architects is the project architect.
