Illinois

HSA Commercial Sells 218,500 SF Industrial Building in Waukegan, Illinois

by Kristin Harlow April 18, 2018

WAUKEGAN, ILL. — HSA Commercial Real Estate has sold a 218,500-square-foot industrial building in Waukegan for an undisclosed price. The property is located within the Delany Commerce Center, a 22.7-acre development. HSA developed the building in 2013 in partnership with Washington Capital Management Inc. The property is fully leased to Eagle Foods, a manufacturer and distributor of household food and snack products, and Trifinity Partners, a third-party logistics firm that serves major retailers. Mike Caprile, Ryan Bain and Zach Graham of CBRE represented the sellers in the transaction. A private investor purchased the asset.

April 18, 2018

Development Illinois Midwest Multifamily Student Housing

CA Ventures, Focus Break Ground on 241-Unit Apartment Building Near Northwestern University

by Kristin Harlow April 17, 2018

EVANSTON, ILL. — Developers CA Ventures and Focus have broken ground on 811 Emerson, an apartment building near Northwestern University in Evanston, Ill. The nine-story, 241-unit transit-oriented development is located at 811 Emerson St. One-, two- and three-bedroom floor plans will range in size from 400 to 1,100 square feet. Outdoor amenities will include a courtyard with a pool, fire pit and grilling stations. Indoor amenities will include a social lounge, business center and fitness center. Convenience store 7-Eleven will occupy a 3,300-square-foot retail space on the property’s ground floor. Focus is the general contractor, while bKL Architecture is providing architectural services. Pre-leasing will begin this fall, and the project is set for completion in the summer of 2019.

April 17, 2018

Illinois Industrial Leasing Activity Midwest

iHerb Signs 257,344 SF Industrial Lease in Elgin, Illinois

by Kristin Harlow April 17, 2018

ELGIN, ILL. — iHerb Inc. has signed a 257,344-square-foot industrial lease in Elgin. The company sells nutritional supplements, vitamins, personal care, baby care and other health products. The industrial building, Zilber Industrial I, is located at 2640 Auto Mall Drive with immediate access to I-90. Jack Brennan and John Hamilton of CBRE represented the tenant in the lease transaction. Dominc Carbonari and Frank Griffin of JLL represented the owners, Zilber Property Group.

April 17, 2018

Development Illinois Midwest Office

Principle Construction Breaks Ground on 43,227 SF Office Building in Romeoville, Illinois

by Kristin Harlow April 16, 2018

ROMEOVILLE, ILL. — Principle Construction Corp. has broken ground on a 43,227-square-foot, speculative office development in Romeoville, about 30 miles southwest of Chicago. Known as the OWL 3 Spec Office, the property is located at 1250 Windham Parkway. The project, slated for completion this October, will be able to accommodate 10 tenants. This will be the first LEED-certified office building in Romeoville, according to Principle. The project is being developed in partnership with Lakeview Realty Investors LLC. SKJN Architeckten is providing architectural services.

April 16, 2018

Acquisitions Illinois Midwest Multifamily

Cresset Partners Buys 84-Unit Apartment Community in Chicago’s South Loop

by Kristin Harlow April 16, 2018

CHICAGO — Cresset Partners, the private investment affiliate of Cresset Wealth Advisors, has purchased Wells Place in the heart of Chicago’s South Loop for an undisclosed price. The 84-unit apartment community is located at 837 and 839 S. Wells St. The property features a mix of one- and two-bedroom units with in-unit washers/dryers and private patios. The seller was not disclosed.

April 16, 2018

Acquisitions Healthcare Illinois Midwest

Boulder Group Arranges $4.4M Sale of Medical Property in Chicago

by Kristin Harlow April 16, 2018

CHICAGO — The Boulder Group has arranged the sale of a single-tenant property, net leased to Fresenius Medical Care in Chicago, for $4.4 million. The 9,396-square-foot building is located at 9924 S. Vincennes Ave. Fresenius, which provides renal services via its dialysis facilities, has 15 years remaining on its lease. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate development company. A West Coast-based real estate investment firm was the buyer.

April 16, 2018

Acquisitions Illinois Midwest Retail Top Stories

Eldorado Resorts to Acquire Grand Victoria Casino in Illinois for $327.5M

by Taylor Williams April 16, 2018

ELGIN, ILL. — Eldorado Resorts Inc. (NASDAQ: ERI), a Nevada-based casino owner and operator, has agreed to acquire the Grand Victoria Casino for $327.5 million. The riverboat casino opened in 1994 and is moored on the Fox River in Elgin, approximately 40 miles northwest of Chicago. Eldorado Resorts will acquire the roughly 30,000-square-foot casino from a partnership between MGM Resorts International (NYSE: MGM) and RBG LLP, a subsidiary of Hyatt. Eldorado will use proceeds from recent asset sales, cash from ongoing operations and loans from its revolving credit facility to fund the transaction, which is expected to close during the fourth quarter. “The addition of Grand Victoria Casino will further diversify the geographic reach of our operations and includes excess contiguous acreage for potential future development,” says Gary Carano, CEO of Eldorado Resorts. “Grand Victoria is one of the leading casinos in the Chicagoland market and is extremely well maintained, which will allow us, upon closing, to focus on enhancing the guest experience and operating results without the need to undertake capital investments,” he adds. MGM acquired a 50 percent interest in Grand Victoria in 2005 when it acquired Mandalay Resort Group. As the seller, MGM will receive approximately $162 million …

April 16, 2018

Development Illinois Midwest Mixed-Use

1.6 MSF Mixed-Use Development Designed by Goettsch Partners Opens in Suzhou, China

by Kristin Harlow April 13, 2018

SUZHOU, CHINA — Designed by Chicago-based Goettsch Partners and developed by Tishman Speyer, a large mixed-use development known as The Summit has opened in Suzhou, China. The city is located in the southeastern Jiangsu Province of East China with a population of 4.3 million people. On the north parcel, a 16-story building features four floors of retail space and 12 floors of office space. On the south parcel, a 39-story building features four levels of retail space, 16 levels of office space and 17 levels of residential space. A bridge connects the two-building mixed-use complex, which spans 1.6 million square feet. The project is certified LEED Gold and features direct connection to mass transit. This is the 14th project that Goettsch Partners has completed in Suzhou.

April 13, 2018

Acquisitions Illinois Kansas Midwest Multifamily Ohio

Waypoint Residential Acquires Four Multifamily Properties in Midwest

by Kristin Harlow April 13, 2018

ILLINOIS, KANSAS AND OHIO — Waypoint Residential has acquired three multifamily properties and one student housing property in the Midwest. Neither the purchase price nor the sellers were disclosed. The properties include the 196-unit Legacy at Poplar Creek in Schaumburg, Ill.; the 70-unit Two Itasca Place in Itasca, Ill.; the 184-unit The Attleigh in Columbus, Ohio; and the 500-bed Rockland West near the University of Kansas in Lawrence. Dan Price leads Waypoint’s acquisitions in the Midwest, while Mike Hung leads the company’s student housing acquisitions.

April 13, 2018

Development Illinois Industrial Midwest

Meridian Constructs Truck Terminal for CenterPoint Properties in Joliet, Illinois

by Kristin Harlow April 13, 2018

JOLIET, ILL. — Meridian Design Build has completed construction of a 112,500-square-foot truck terminal for CenterPoint Properties in Joliet. The new facility is situated on a 46.4-acre site within the CenterPoint Business Center. The redevelopment project includes 17,930 square feet of office space, 169 loading positions and two drive-in doors. An adjacent 22,176-square-foot maintenance building features 17 fully equipped service bays. Cornerstone Architects provided architectural and structural design services, while Manhard Consulting completed civil engineering design.

April 13, 2018

Newer Posts

Older Posts