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IllinoisIndustrialLeasing ActivityMidwest

TEI Logistics Inks 78,700 SF Warehouse Lease in Mount Prospect, Illinois

by Kristin Harlow

MOUNT PROSPECT, ILL. — TEI Logistics LLC has signed a 78,700-square-foot warehouse lease in Mount Prospect, about 22 miles northwest of Chicago. The 237,350-square-foot property, located at 1400 Algonquin Road, features 12 exterior docks, one drive-in door and 8,000 square feet of office space. The El Paso, Texas-based company will relocate from its 61,780-square-foot location in Wood Dale in June. Tom Rodeno and Matthew Stauber of Colliers International represented the landlord, Clarion Partners. Christopher Nelson of Lee & Associates represented TEI.

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AcquisitionsIllinoisMidwestOffice

Real Capital Solutions Acquires Four-Building Office Center in Naperville, Illinois for $38.7M

by Kristin Harlow

NAPERVILLE, ILL. — Real Capital Solutions has acquired Naperville Corporate Center for $38.7 million. The 420,540-square-foot office complex includes four buildings. Naperville Corporate Center is 83.6 percent leased to tenants such as KeHe, Trizetto Group, Berkley Insurance, Apex and Infogix Inc. Patrick Shields, Bryan Rosenberg, Jaime Fink and Jeff Bramson of HFF represented the seller, a joint venture between TriGate Capital LLC and Pearlmark.

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AcquisitionsIllinoisIndustrialMidwest

Phoenix Investors Buys Two Industrial Properties Totaling 1.1 MSF in Illinois, Tennessee

by Kristin Harlow

MOUNT MORRIS, ILL. AND COVINGTON, TENN. — Milwaukee-based Phoenix Investors has purchased two industrial properties formerly occupied by printing company Quad Graphics, including one in Mount Morris, for a combined $13.5 million. The Mount Morris facility features 586,706 square feet and is located at 404 N. Wesley Ave., about 30 miles southwest of Rockford. The property features 24 loading docks, two drive-in doors and rail access to BNSF. Phoenix also acquired a 523,010-square-foot property in Covington, Tenn. Phoenix purchased the properties from Industrial Realty Group. Both properties have existing tenants in place.

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DevelopmentIllinoisMidwestRetail

Missner Completes Construction of 228,000 SF Toyota Dealership in Chicago

by Kristin Harlow

CHICAGO — The Missner Group has completed construction of the new Chicago Northside Toyota dealership located at 6042 N. Western Ave. The 228,000-square-foot facility is five stories tall. A 30,000-square-foot showroom, surrounded by 28-foot glass panels, is capable of exhibiting 35 vehicles. A 42,000-square-foot service area contains 35 service bays. The facility features a children’s play area and a customer lounge. Axios Architects and Consultants LTD provided the architectural services and Jacob & Hefner Associates provided the engineering services.

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HospitalityIllinoisLoansMidwest

CBRE Arranges $32.9M Acquisition Financing for Hyatt Regency Hotel in Deerfield, Illinois

by Kristin Harlow

DEERFIELD, ILL. — CBRE Capital Markets has arranged a $32.9 million loan for the acquisition of the Hyatt Regency Deerfield. The 301-room hotel is located at 1750 Lake Cook Road near I-94 and I-294. Bill Howe and Jonathan Rice of CBRE arranged the loan on behalf of the borrower, Phoenix Development Partners. A debt fund provided the loan.

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AcquisitionsIllinoisIndustrialMidwest

Brown Commercial Negotiates Sale of Two Industrial Buildings in Illinois

by Kristin Harlow

ELGIN AND DOWNERS GROVE, ILL. — Brown Commercial Group has negotiated the sale of two industrial buildings totaling 63,128 square feet in Illinois. The sales prices were not disclosed. Nottingham Realty Group LLC purchased a 38,128-square-foot industrial building located at 1700-1730 Todd Farm Drive in Elgin. The building is fully leased and located within the Windsor Commerce Center. Brian Lindgren of Brown represented the buyer, who was completing a 1031 exchange. John D’Orazio of Colliers International represented the seller, Cristie Ann Enterprises LLC. Lindgren also represented Premium Investment Properties LLC in its purchase of a 25,000-square-foot building at 2211-2239 Curtiss St. in Downers Grove. The seller was Simborg Industrial Real Estate LLC.

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AcquisitionsIllinoisMidwestRetail

TEI Acquires 340,849 SF Power Center in McHenry, Illinois for $32M

by Kristin Harlow

MCHENRY, ILL. — Time Equities Inc. has acquired the Shops at Fox River in McHenry, about 50 miles east of Rockford, for $32 million. The power center, built in 2007, features 340,849 square feet. Tenants include TJ Maxx, Ross Dress for Less, Dick’s Sporting Goods, Bed Bath & Beyond, DSW, Ulta Beauty, Old Navy and PetSmart. A 30,000-square-foot box space and a 12,000-square-foot suite remain available for lease. Additionally, a nearly two-acre out parcel is available for further development. Ben Wineman of Mid-America Real Estate Corp. represented the seller, DDR Corp.

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AcquisitionsIllinoisMidwestMultifamily

Interra Negotiates $5.7M Sale of Apartment Building in Chicago

by Kristin Harlow

CHICAGO — Interra Realty has negotiated the sale of a 32-unit apartment building in Chicago’s Uptown neighborhood for $5.7 million. The three-story property is located at 5022-30 N. Winthrop Ave. Originally constructed in 1916, the building recently underwent a renovation that included new windows, new decks and an intercom entry system. Brad Feldman and Adam Saxon of Interra represented the buyer, 5022 North Winthrop LLC, which was completing a 1031 exchange. Joe Smazal of Interra represented the sellers, 1425 West Chase Associates LLC and 3030 Princeton Associates LLC.

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AcquisitionsIllinoisMidwestOffice

Podolsky Circle Arranges $2.7M Sale of Office Building in Schaumburg, Illinois

by Kristin Harlow

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.

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AcquisitionsIllinoisMidwestRestaurantRetail

Premier Brokers Sale of 5,085 SF Building Formerly Occupied by Fradillio’s Restaurant in Algonquin, Illinois

by Kristin Harlow

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.

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