CHICAGO — PREMIER Design + Build Group LLC has completed the construction of a 40,750-square-foot speculative distribution facility in Chicago’s Portage Park neighborhood. PREMIER built the property, located at 4150 N. Knox Ave., on behalf of Dayton Street Partners and WBS Equities. Situated on a 1.6-acre lot, the warehouse features 30-foot clear heights, two parking lots, four covered dock positions, two drive-in doors and two entrances. The adaptable warehouse space can accommodate multiple tenants. Chris Kiziak and Scott Lebak led the project team on behalf of PREMIER. Kimley-Horn provided engineering services, while Cornerstone Architects Ltd. provided architectural services. Mike Senner and Steve Kohn of Colliers are marketing the building for lease.
Illinois
ELGIN, ROCKFORD AND DIXON, ILL. — Interra Realty has brokered the sale of a three-property multifamily portfolio in Illinois for $4 million. James Clough of Interra represented the buyer, Vijulima LLC, and the undisclosed seller. The historic buildings include: Center City Apartments in Elgin; Old City Hall in Rockford; and Nachusa House in Dixon. Located at 156 Division St., Center City Apartments consists of 45 units designated for seniors. Built in 1925 as the Douglas Hotel, the property was later abandoned and left vacant in 1982. It was saved from demolition when the property was redeveloped as senior housing in 1993. Old City Hall in Rockford consists of 31 apartment units. Built in 1904 as Rockford’s City Hall, the property later housed the Rockford Police Department and two jails and was redeveloped in 1994. Nachusa House is a 36-unit affordable seniors housing property. Built in 1853, the property was continuously operated as a hotel until 1988 and later redeveloped in 1998. Throughout its history, the hotel hosted notable guests such as Abraham Lincoln, Ulysses S. Grant, William Howard Taft and Theodore Roosevelt.
CHICAGO — Kiser Group and Affordable Housing Investment Brokerage Inc. (AHIB) have negotiated the sale of 167 affordable housing units in Chicago for $11.2 million. Lyndale Place is a 67-unit property located at 2575 W. Lyndale St. in the Logan Square neighborhood. Renaissance West is a 111-unit building located at 2517 W. Fullerton Ave. in the Bucktown neighborhood. The Habitat Co. purchased the portfolio from Renaissance Cos. Michael D’Agnostino of Kiser Group and Kyle Shoemaker of AHIB brokered the transaction.
BOLINGBROOK, ILL. — Windy City Wire Cable and Technology Products LLC has signed an industrial lease renewal and expansion in Bolingbrook, a southwest suburb of Chicago. The cable management company now occupies the entire 247,500-square-foot facility, which is located at 386 Internationale Drive. The property features 30-foot clear heights, 42 exterior docks and nine drive-in doors. Kevin Mackey of TIG represented Windy City Wire in the transaction. ML Realty Partners is the property landlord.
CHICAGO — The Boulder Group has brokered the sale of a single-tenant property net leased to Walgreens in Chicago for $6.9 million. The 18,340-square-foot property is located at 4745 W. Belmont Ave. Walgreens has more than 10 years remaining on its lease, which features eight five-year renewal options. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Southeast-based real estate investment firm. A West Coast-based real estate investment firm purchased the asset.
CHICAGO — American Street Capital (ASC) has arranged $4.9 million in acquisition financing for a three-building multifamily portfolio in Chicago. The properties, located in the Grand Boulevard neighborhood, total 88 units and feature a mix of one-, two- and three-bedroom floor plans. The portfolio was more than 95 percent occupied at the time of acquisition. Igor Zhizhin and Alexander F. Rek of ASC arranged the three loans, which feature 20-year terms and 30-year amortization schedules. A correspondent agency lender provided the loans.
MOUNT PROSPECT, ILL. — Marcus & Millichap has negotiated the sale of a 38,793-square-foot flex office building in Mount Prospect, 22 miles northwest of Chicago, for $4.2 million. The property is located at 585 Slawin Court and is fully leased to Siemens Real Estate, a division of Siemens Corp. The building was constructed in 1987. John Abuja and Michael Lawrence of Marcus & Millichap represented the undisclosed seller. The buyer was also not disclosed.
LISLE, ILL. — The Missner Group has completed the renovation of the Olympian Office Center in Lisle. The 168,000-square-foot office building was formerly the headquarters of Porsche Cars North America. The Missner Group acquired the seven-story building, located at 4343 Commerce Court, in 2016. New features include a Wi-Fi lounge, new lighting, finishes and lobby improvements. The renovation also included painting of the property’s exterior. Olympian Office Center was constructed in 1987 and sits on 7.4 acres. The property is currently 30 percent occupied by tenants such as FBI and Hinshaw & Culbertson. Kent Nepras and Scott Nomellini of The Missner Group oversaw the construction team. Interior Design Group Ltd. provided architectural services. Francis Prock and David Florent of Colliers International will market the renovated property for lease.
LIBERTYVILLE, ILL. — Marcus & Millichap has arranged the sale of Cook Apartments in Libertyville, a northern suburb of Chicago, for $11.3 million. The 86-unit apartment building is located at 201 E. Cook Ave. Built in 1972, the five-story property features a mix of studios, one- and two-bedroom units. The building was fully leased at the time of sale. Andrean Angelov and Ryan Engle of Marcus & Millichap represented the seller, a limited liability company. Scott Harris of Marcus & Millichap represented the buyer, also a limited liability company.
LOMBARD, ILL. — M & J Wilkow has sold a 174,098-square-foot office complex in Lombard, 20 miles west of Chicago, for an undisclosed price. A joint venture between Red Rock and Lincoln Property Co. purchased the property, which is located at 701 E. 22nd St. M & J Wilkow acquired the office complex in September 2014 with a fund managed by DRA Advisors. The property was 81 percent leased at the time. The company renovated the lobby atrium, corridors and fitness center. The property was 97 percent leased at the time of sale.