TINLEY PARK, ILL. — CBRE Hotels has arranged the sale of the Hilton Garden Inn Chicago South in Tinley Park, a southern suburb of Chicago. The sales price was not disclosed. The 117-room hotel is located at 18335 S. LaGrange Road. The property is located near the Tinley Park Convention Center and Hollywood Casino Amphitheater. Nate Sahn and Douglas Johnson of CBRE represented the sellers, Tinley Inn LLC and Tinley Gardens LLC.
ELK GROVE VILLAGE, ILL. — Brown Commercial Group has brokered the sale-leaseback of a 32,000-square-foot industrial building in Elk Grove Village. The sales price was not disclosed. The property is located at 1200 Pratt Blvd. Dan Brown of Brown Commercial represented the seller, Andrews Paperboard Inc. Jim Pietrarosso, also of Brown Commercial, represented the buyer, a private investor. Brown Commercial negotiated a 10-year lease.
O’FALLON, ILL. — Timberland Partners has purchased Green Mount Lakes Apartments in O’Fallon, about 20 miles east of St. Louis. The purchase price was not disclosed. A number of improvements are planned for the property, including a new fitness center, pool, dog park and a remodeling of the clubhouse. The property, built in 2004, features a mix of one-, two- and three-bedroom floor plans. Timberland Partners Investment Fund VI LLC was used to acquire Green Mount Lakes Apartments. Matt Bukhshtaber of CBRE represented the undisclosed seller.
CHICAGO — A fund advised by CBRE Global Investors has acquired 150 N. Michigan Avenue, a 661,477-square-foot office building in Chicago. The purchase price was not disclosed. The multi-tenant building is located in the East Loop submarket at the intersection of Michigan Avenue and Randolph Street. The property, which is 80 percent leased, features a recently completed conference center, fitness center and tenant lounge. Floor plates range from 9,400 to 18,800 square feet. CBRE plans to make further capital improvements to the property.
ROMEOVILLE, ILL. — Meridian Design Build has completed construction of a 271,000-square-foot distribution building for Venture One in Romeoville, about 26 miles southwest of Chicago. The speculative industrial facility is located at 1200 Schmidt Road. The property features 32-foot clear heights, 27 truck docks, two drive-in doors and parking for 200 vehicles and 56 trailers. Ware Malcomb provided architectural services and Jacob & Hefner Associates completed civil engineering work. MB Financial provided the construction financing. Keith Stauber, Steve Ostrowski and Matt Rakowich of JLL are the property’s leasing agents.
OAKBROOK TERRACE, ILL. — J.C. Anderson Inc. has completed interior renovations on behalf of Pernod Ricard USA LLC within the Oakbrook Terrace Tower in Oakbrook Terrace, a suburb of Chicago. Property owner and manager Equity Office selected J.C. Anderson to complete the tenant improvements to the space on the 21st floor within the 31-story building. Renovations of the office space for the wine and spirits company included the construction of workstations, phone rooms, a newly renovated kitchen and conference rooms. Seth Erlich, Andrew Mott and Bill Dennison led the project team on behalf of J.C. Anderson. Whitney Architects provided architectural services.
DES PLAINES, ILL. — Podolsky Circle has been awarded the management of a 135,151-square-foot office building in Des Plaines, a suburb of Chicago. The brokerage recently relocated its entire company office within the building, which is located at 1700 W. Higgins Road. Australia-based Quattro Asset Management owns the property, which was built in 1986. The building underwent renovations to the lobby, corridors, café and restrooms. Additional building enhancements are planned. Melissa Podolsky of Podolsky Circle will lead the property management team. The property is currently 69 percent leased to other tenants including Riddell and Batory Foods. Approximately 43,235 square feet is available for lease.
LINCOLNSHIRE, ILL. — Graycor Construction Co. has completed the first two phases of renovations at the Chicago Marriott Lincolnshire Resort in Lincolnshire, a northern suburb of Chicago. Graycor renovated all 390 guest rooms and suites with new windows, HVAC, carpet, ceramic tile, shower door and bathroom fixtures, wall covering and fresh paint. Phase II also included the construction of the Lakeside Pavilion, a 5,000-square-foot, climate-controlled space for weddings and other events. Graycor has also completed nearly 75 percent of the final phase of renovations, which includes rebuilding of King’s Wharf into two new restaurants — Three Embers and Wright’s Brew & Bistro; renovating the lobby Brewpub; adding a Starbucks on the premises; and a new M-Club and Spa. Steven Crowley of Graycor led the project team. The Gettys Group and Stantec provided design services, while Daccord LLC provided project coordination services. LA RFMBG Lincolnshire LLC owns the property and The Bricton Group manages the hotel.
ELK GROVE VILLAGE, ILL. — Seefried Properties has selected Principle Construction Co. to build a 107,000-square-foot industrial warehouse in Elk Grove Village. The speculative property will be located at 2080 Lunt Ave. The building will feature 32-foot clear heights with 16 dock positions, two drive-in doors and parking for 134 vehicles. The property will be able to accommodate a single user or multiple tenants. Completion is slated for December. Mark Augustyn, Darrin Dehmlow and Mark Frane are leading the project team for Principle. Harris Architects is the project architect.
CHICAGO — Interra Realty has arranged the sale of Everett Hyde Park in Chicago for $5 million. The 32-unit condominium building is located at 5454 S. Everett Ave. The property was renovated and converted to condominiums in 2007. Joe Smazal of Interra represented the condominium association and the purchaser, Chicago-based Tricap Residential Group. Under the Condominium Property Act in Illinois, condo unit owners can elect to sell a condo property if 75 percent of residents or more are in agreement. Sellers then have the option to either move out or to lease back the property from the new owner.
