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HospitalityIllinoisMidwest

Planned Hotel for Navy Pier to Operate Under Curio Collection by Hilton Brand

by Kristin Harlow

CHICAGO — Developer First Hospitality Group Inc. (FHG) and Navy Pier have unveiled the brand for the first hotel on Navy Pier. Slated to open in summer 2019, the 222-room hotel will operate under the Curio Collection by Hilton brand. Construction is expected to begin in January 2018. Situated at the eastern end of Navy Pier, the hotel will feature floor-to-ceiling windows and a 30,000-square-foot rooftop restaurant bar. Acron, a Switzerland-based real estate company, is funding the project. Jackie Koo of KOO LLC is designing the project, and James McHugh Construction Co. is the builder. The project is expected to generate 600 construction jobs and create 300 permanent jobs, according to FHG. Hilton operates more than 40 Curio Collection independent hotels globally.

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IllinoisIndustrialMidwest

CBRE Arranges Over 1.3 MSF of Industrial Leases in Chicago Area

by Kristin Harlow

BOLINGBROOK, ELK GROVE VILLAGE AND MCHENRY, ILL. — CBRE has arranged three industrial leases totaling 1.3 million square feet for separate tenants in the Chicago area. Brake Parts Inc. signed an eight-year extension for 378,350 square feet at 1100 Corporate Drive and 228,000 square feet at 4400 Prime Parkway in McHenry. The company is a manufacturer and supplier of brake parts. Greencore, a London-based international producer of convenience foods, inked a five-year extension for 443,010 square feet at 1100 Remington Blvd. in Bolingbrook. In the final lease transaction, St. George Logistics signed a five-year renewal for 268,645 square feet at 875 Devon Ave. in Elk Grove Village. The company is a provider of ocean and air container freight stations, distribution, transportation and value-added services in North America. Matt Mulvihill, Kevin Segerson, Cal Payne and Philip DeBoer of CBRE represented the tenants in each lease transaction.

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IllinoisIndustrialMidwest

NAI Hiffman Brokers Sale of 161,740 SF Industrial Building in Bridgeview, Illinois

by Kristin Harlow

BRIDGEVIEW, ILL. — NAI Hiffman has brokered the sale of a 161,740-square-foot industrial building in Bridgeview, about 13 miles southwest of Chicago. The sales price was not disclosed. The property is situated along I-294 at 7400-7420 Richards Road. The building features 18 exterior docks, one drive-in door, 24-foot clear heights and parking for 60 cars. Chris Gary and Jay Maher of NAI Hiffman represented the seller, Transwestern Investment Group. Adam Haefner of Darwin Realty & Development Corp. represented the buyer, Rex Carton Co., a manufacturer of corrugated boxes and custom shipping containers.

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IllinoisIndustrialMidwest

Midwest Industrial Funds Sells 84,000 SF Industrial Building in Chicago

by Kristin Harlow

CHICAGO — Midwest Industrial Funds has sold an 84,000-square-foot industrial building in Chicago for an undisclosed price. The food production building is located at 4300 S. Morgan St. within the Stockyards Business Park. The property features 17- to 28-foot ceilings, seven exterior docks, parking for 150 cars and freezer space on a nine-acre site. An affiliate of WP Carey, which had a long-term lease agreement in place with Griffith Foods at closing, purchased the property. Scott Duerkop, Jason Volpe and Sean Devaney of JLL represented the buyer and Griffith Foods in the transaction. Brian Vanosky, Tom Condon and Tim McCahill of Lee & Associates represented Midwest Industrial Funds.

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IllinoisMidwestSelf-Storage

Marcus & Millichap Arranges $4.4M Sale of Self-Storage Facility in Romeoville, Illinois

by Kristin Harlow

ROMEOVILLE, ILL. — Marcus & Millichap has arranged the sale of Space Savers Self Storage in Romeoville for $4.4 million. The 44,000-square-foot self-storage facility is located at 645 S. Weber Road. Built in 2005, the facility offers climate-controlled, indoor, outdoor and portable storage units. For security, the facility features 24-hour surveillance and all units are electronically controlled. Sean Delaney and Michael Male of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also procured the buyer, a private investor.

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IllinoisMidwestRetail

Quantum Arranges $1.5M Sale of Retail Center in Belvidere, Illinois

by Kristin Harlow

BELVIDERE, ILL. — Quantum Real Estate Advisors Inc. has arranged the sale of Belvidere Plaza in Belvidere, about 13 miles east of Rockford, for $1.5 million. The 28,094-square-foot property is located at 342-390 W. Chrysler Drive. Anchored by Family Dollar, the retail center houses a mix of local and national tenants. Chad Firsel of Quantum represented the seller, a Michigan-based property owner. Jack Farritor of Quantum represented the buyer, private real estate investors based in Washington, D.C.

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IllinoisIndustrialMidwest

Millennium Properties Brokers $1.4M Sale of Industrial Warehouse in Wheeling, Illinois

by Kristin Harlow

WHEELING, ILL. — Millennium Properties R/E has brokered the sale of a 30,000-square-foot industrial warehouse in Wheeling for $1.4 million. The property, located at 140 Shepard Ave., is fully leased to multiple tenants. The building features 14-foot ceilings, two docks and 10 drive-in doors. Brad Thompson and Chet Evans of Millennium brokered the sale. Neither the name of the buyer nor the seller was disclosed.

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IllinoisMidwestMultifamily

Kiser Group Negotiates $2.9M Sale of Multifamily Portfolio in Chicago

by Kristin Harlow

CHICAGO — Kiser Group has negotiated the sale of a 50-unit multifamily portfolio in Chicago’s South Shore neighborhood for $2.9 million. The portfolio spans four buildings, located at 662 S. Shore Drive, 7661 S. Coles Ave., 7870 S. Coles Ave. and 7800 S. Cregier Ave. The buildings feature primarily one- and two- bedroom units. Noah Birk and Aaron Sklar of Kiser Group brokered the sale. A California-based investor purchased the portfolio from a local owner.

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IllinoisIndustrialMidwest

Meridian Breaks Ground on 75,000 SF Industrial Build-to-Suit in Chicago

by Kristin Harlow

CHICAGO — Meridian Design Build has broken ground on a 75,000-square-foot industrial build-to-suit for Banner Wholesale Grocers in Chicago. The property is located on a 4.2-acre site at 2639 S. Damen Ave. The building will feature 36-foot clear heights, LED lighting, a fully air-conditioned wholesale floor, freezer space, eight loading docks and a covered van platform with 16 loading positions. Schmidt Design Inc. is providing architectural services, while Kimley-Horn is completing civil engineering work. A timeline for project completion was not disclosed.

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IllinoisIndustrialLee & AssociatesMidwest

Lee & Associates Negotiates $3.4M Sale of Industrial Building in Elk Grove Village, Illinois

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Lee & Associates has negotiated the sale of a 52,082-square-foot industrial building in Elk Grove Village for $3.4 million. The property is located at 1200 Lunt Ave. Mike Plumb, Brad Simousek and Jeff Janda of Lee & Associates represented the seller, American Dawn. Jack Brennan of CBRE represented the buyer, Lawrence Foods, a local manufacturer of bakery ingredients for commercial food manufacturers, in-store supermarket bakeries and foodservice operators.

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