BLOOMINGTON, ILL. — Coldwell Banker Commercial Devonshire Realty has negotiated the sale of Country Financial/Country Co.’s main campus in Bloomington to Illinois State University (ISU) for $17.5 million. The property includes roughly 400,000 square feet of office space in three buildings on 28.3 acres. The transaction will occur in two phases as Country vacates one of the buildings over the next two years. ISU plans to renovate the buildings for its new engineering campus slated for fall 2025 enrollment. AJ Thoma III of Coldwell Banker Commercial represented the seller, and Bob Revoir of Cushman & Wakefield was a co-broker in the deal. Mike Talkington of AXIS 360 Commercial Real Estate Specialists represented ISU.
BURBANK, ILL. — Quantum Real Estate Advisors Inc. has brokered the $5.7 million sale of a 17,683-square-foot retail center in Burbank, a southern suburb of Chicago. The fully leased property is home to tenants such as Meat Moot, Pizza Hut, Tropical Smoothie Café, OSF Healthcare and Dental Town. Dan Waszak, Zack Hilgendorf and Nick Hilgendorf of Quantum represented the seller, GW Properties. The buyer was a private investor based in Kansas.
WOODRIDGE, ILL. — Standard Real Estate Investments LP and Trammell Crow Co. (TCC) have sold Woodridge Industrial Center in the Chicago suburb of Woodridge for an undisclosed price. Standard made an equity investment through its $150 million investment vehicle last year, and construction was completed in July of this year. The transaction marks the first sale in the investment vehicle. Located at 8110 Lemont Road, Woodridge Industrial Center totals 217,000 square feet on 17 acres. The development is situated two miles north of the I-55/I-355 interchange and features 22 dock doors with 130-foot truck courts and 270 parking spaces. The project team included Harris Architects, general contractor FCL and civil engineer SpaceCo.
BATAVIA, ILL. — Lee & Associates has negotiated the sale of a 118,041-square-foot industrial building in the Chicago suburb of Batavia for an undisclosed price. The property is located at 1020 Olympic Drive. Michael Androwich Jr. of Lee & Associates represented the buyer, Blue Peak Tents, which is currently located in Batavia and is expanding its operations. Blue Peak Tents will consolidate three locations into the new facility. Nick Eboli and Andrew Block of Lee & Associates represented the private seller, which closed its screen printing operation that was housed in the building.
EVANSTON, ILL. — COUR Pharmaceuticals has signed a 50,000-square-foot lease at Evanston Labs in Evanston. The company is relocating its headquarters, R&D lab and pilot manufacturing plant to the recently delivered project. COUR, a clinical-stage biotechnology company developing therapies to treat patients with autoimmune diseases, will occupy space across the eighth and ninth floors. Located at the southwest corner of Orrington Avenue and Clark Street, Evanston Labs is an advanced sciences lab building rising 10 stories and totaling 178,800 square feet. Completed earlier this year by Trammell Crow Co. (TCC), the development features a penthouse amenity center, outdoor terrace and health and wellness center.
CHICAGO — Essex Realty Group has arranged the $4.3 million sale of a 23-unit, value-add apartment building in Chicago’s Buena Park neighborhood. The property at 821 W. Montrose Ave. is one of the last untouched vintage buildings in the neighborhood, according to Essex. The asset features one-, two- and three-bedroom layouts along with a shared green space and six surface parking spaces. Brian Karmowski of Essex represented the seller, while Matt Feo and Abe Eilian of Essex represented the buyer. The property sold above the listing price.
PLAINFIELD, ILL. — Krusinski Construction Co. will serve as general contractor for a 788,000-square-foot speculative industrial project within Plainfield Business Center in the southwest Chicago suburb of Plainfield. Trammell Crow Co. (TCC) is the developer. Named TCC Stewart South Phase I, the 52-acre project is slated for occupancy in fall 2025. The cross-dock facility is being marketed as a single-tenant property, but it will be divisible for multiple users. The building will feature a clear height of 40 feet, 80 dock-level doors, four drive-in doors and parking for 392 cars and 211 trailers. Future phases of Plainfield Business Center are currently being planned. At full build-out, the development will encompass over 8 million square feet of industrial space. The project team includes Harris Architects and civil engineer Kimley-Horn. Edward Notz of Associated Bank originated a $43.6 million construction loan.
BARTLETT, ILL. — Meridian Design Build has completed a 51,500-square-foot manufacturing facility for International Packing & Crating (IPC) at 1313 Jack Court in the Chicago suburb of Bartlett. The project included 3,700 square feet of office/employee space and 47,800 square feet of shop improvements, including compressed air piping, dust collection ductwork, power distribution and lighting to support a full-service crating and custom packaging operation. The project team included Heitman Architects Inc. and civil engineer V3 Cos. Ltd.
Greenstone Partners, Marcus & Millichap Broker $25.7M Sale of Canterbury Court Apartments in Chicago
CHICAGO — Greenstone Partners and Marcus & Millichap have brokered the $25.7 million sale of Canterbury Court Apartments in Chicago’s Gold Coast neighborhood. The 176-unit, 16-story apartment building is located at 1220 N. State Parkway and features 1,268 square feet of ground-floor retail space with the famed Zebra Lounge piano bar, which has occupied the building since its completion in 1929. Jordan Multack and Danny Spitz of Greenstone represented the seller, a local family office, along with Nicholas Kanich of Marcus & Millichap. Becovic Holdings Corp. was the buyer. The asset features 142 studio units, 26 one-bedroom floor plans, two two-bedroom residences and six additional units that were previously used by the former owner. Becovic plans to invest in necessary upgrades and improvements.
CHICAGO — Interra Realty has negotiated the $11.2 million sale of a 35-unit apartment and retail building in Chicago’s Lincoln Park neighborhood. The property at 2200 N. Clark St. features 28 apartments and seven retail spaces that were all fully leased at the time of sale. The 10,000 square feet of ground-floor retail space is home to tenants such as an art gallery and Michelin-starred restaurant Esmé. Constructed in 1891, the building has been well maintained following capital improvements in 2008-2009. Joe Smazal, Brad Feldman and Craig Martin of Interra represented the seller, a local real estate investment firm that deploys institutional capital. Interra also procured the buyer, Beal Properties, a Chicago-based private office owned by Bill Silverstein.