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AcquisitionsIllinoisMidwestRetail

JLL Brokers Sale of 47,997 SF Tesla Sales, Service Center in Northbrook, Illinois

by Kristin Harlow

NORTHBROOK, ILL. — JLL Capital Markets has brokered the sale of a flagship Tesla sales, service and delivery center in the Chicago suburb of Northbrook for an undisclosed price. The newly developed build-to-suit for Tesla is located at 1000 Skokie Blvd. The 47,997-square-foot property is Tesla’s only custom build-to-suit sales, service and delivery center in Chicagoland. Designed to support several retail showrooms throughout Chicago’s northern suburbs, the Northbrook facility provides new vehicle delivery, vehicle preparation and maintenance services. The building also features a showroom and ancillary office spaces. Alex Sharrin and Josh Katlin of JLL represented the seller, a joint venture between Focus and Fort Union. Kingsbarn Realty Capital was the buyer.

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DevelopmentIllinoisIndustrialMidwest

S&C Electric Co. Opens 275,000 SF Manufacturing Facility in Palatine, Illinois

by Kristin Harlow

PALATINE, ILL. — S&C Electric Co. has opened a new 275,000-square-foot manufacturing facility in Palatine, a northwestern suburb of Chicago. The expansion created 200 production and engineering jobs. The property is situated about 25 miles from S&C’s headquarters and manufacturing campus in Chicago’s Rogers Park neighborhood. Production in Palatine includes circuit-washers, devices that protect transmission substation transformers and other grid-hardening equipment.

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AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of Fully Leased Retail Property in Chicago’s Streeterville Neighborhood

by Kristin Harlow

CHICAGO — Mid-America Real Estate Corp. has brokered the sale of a fully occupied, multi-tenant retail property in the heart of Chicago’s Streeterville neighborhood for an undisclosed price. The standalone building at 227 E. Ontario St. is leased to Sweetgreen, Nando’s, CorePower Yoga, Big City Optical and Movement Physical Therapy. Joe Girardi and Emily Gadomski of Mid-America represented the undisclosed seller. The Shiner Group was the buyer.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $19.3M Sale of Multifamily Portfolio on Chicago’s Northwest Side

by Kristin Harlow

CHICAGO — Interra Realty has brokered the sale of a five-building, 97-unit multifamily portfolio in Chicago for $19.3 million. Joe Smazal and Mark Dykstra of Interra represented the buyer, Silver Property Group Ltd., a Chicago-based real estate investment and management company. The duo also represented the seller, an East Coast-based investment group. The portfolio consists of the following properties: 4654 N. Monticello Ave., 4718-24 N. Bernard St., 1501 N. California Ave., 4226-30 N. Whipple St. and 4057 W. Melrose St.

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AcquisitionsDevelopmentIllinoisIndustrialMidwestMultifamily

SVN Chicago Commercial Arranges Sale of 45,000 SF Industrial Building in Aurora for Multifamily Conversion

by Kristin Harlow

AURORA, ILL. — SVN Chicago Commercial has arranged the sale of a 45,000-square-foot industrial building in Aurora for $1.5 million. Located at 325 S. Union St., the 111-year-old property, once utilized for manufacturing World War II vehicle parts, is slated to be converted into multifamily units. James Mead of SVN represented the undisclosed seller. The buyer, specializing in adaptive reuse projects, plans to use historic tax credits to complete the project.

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AcquisitionsIllinoisMidwestMultifamily

Eastham Capital, Bender Cos. Acquire 110-Unit Brix on Morse Multifamily Building in Chicago for $16.8M

by Kristin Harlow

CHICAGO — Eastham Capital and Bender Cos. have partnered to acquire Brix on Morse, a 110-unit multifamily building in Chicago, for $16.8 million. Eastham has invested in the deal through its current fund, Eastham Capital Fund VI LP. Bender will oversee the day-to-day management. Andy Friedman, Jake Parker and Danny Logarakis of Kiser Group brokered the transaction. Brix on Morse was 97 percent occupied at the time of sale with average rents of just over $1,350 per month. The acquisition includes a renovation budget of $1.2 million for exterior upgrades to landscaping, painting and parking lots as well as a light interior refresh. Constructed in 1969, the property features 48 studios, 42 one-bedroom units and 20 two-bedroom apartments ranging from 663 to 993 square feet. Amenities include a fitness center, bike storage and fire pit with barbecue stations.

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IllinoisLoansMidwestOffice

American Street Capital Arranges $10.6M Loan for Refinancing of Flex Office Property in Chicago

by Kristin Harlow

CHICAGO — American Street Capital (ASC) has arranged a $10.6 million loan for the refinancing of a flex office property in Chicago’s Fulton Market neighborhood. The 90,000-square-foot building features office, warehouse and showroom spaces as well as more than 170 parking spaces. The property was extensively renovated in 2020, and includes a common area roof space, tenant lounge, one passenger and two freight elevators, multiple secure loading docks and a gated parking lot. Igor Zhizhin of ASC arranged the 10-year loan through a commercial bank.

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AcquisitionsIllinoisMidwest

SVN Chicago Commercial Brokers $5.4M Sale of Synagogue Facility in Wilmette, Illinois

by Kristin Harlow

WILMETTE, ILL. — SVN Chicago Commercial has brokered the $5.4 million sale of a synagogue facility located at 3220 Big Tree Lane in the Chicago suburb of Wilmette. The property has been home to the Beth Hillel Congregation Bnai Emunah (BHBE) for over 60 years. Wayne Caplan of SVN represented the nonprofit seller. Larry Serota of Transwestern represented the buyer, the Wilmette Park District, which plans future expansion purposes at the property. The transaction includes a lease-back of the facility by BHBE for roughly a year and a half. Caplan is also representing BHBE in its search for a new home in the area.

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AcquisitionsIllinoisMidwestRetail

CBRE Brokers Sale of 420,740 SF Woodfield Village Green Shopping Center in Metro Chicago for $93.2M

by Kristin Harlow

SCHAUMBURG, ILL. — CBRE has brokered the sale of Woodfield Village Green, a 420,740-square-foot retail power center in the Chicago suburb of Schaumburg. Site Centers sold the property for $93.2 million in a deal that marks the Chicago area’s priciest retail property sale in more than two years, according to Crain’s Chicago Business. Bridge33 Capital was the buyer. Tenants include Trader Joe’s, Marshalls, Nordstrom Rack, Container Store, Bloomingdale’s Outlet, PetSmart and HomeGoods.

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AcquisitionsIllinoisIndustrialIowaMichiganMidwestWisconsin

TPG Angelo Gordon Acquires 780,000 SF Midwest Manufacturing Portfolio in Sale-Leaseback with Douglas Dynamics

by Kristin Harlow

ILLINOIS, IOWA, MICHIGAN AND WISCONSIN — TPG Angelo Gordon has acquired a 780,000-square-foot, seven-building manufacturing portfolio in a sale-leaseback transaction with Douglas Dynamics Inc., a manufacturer and upfitter of commercial work truck attachments and equipment. The transaction involves the company’s facilities in Huntley, Ill.; Manchester, Iowa; Madison Heights, Mich.; Milwaukee; and Rockland, Maine. The transaction is valued at $64.2 million, and Douglas Dynamics is expected to receive net proceeds of approximately $50 million. The company intends to use the net proceeds to pay down its term loan debt and for other corporate purposes. The initial lease for the assets is 15 years, with two 10-year options to renew.

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