Illinois

Podolsky Circle Arranges $6.4M Sale of Office Property in Naperville, Illinois

by Kristin Harlow May 30, 2018

NAPERVILLE, ILL. — Podolsky Circle CORFAC International has arranged the sale of Naperville Financial Center for $6.4 million. The five-story, 57,969-square-foot office property is located at 400 E. Diehl Road. The multi-tenant building features covered parking, on-site storage, conference facilities and tenant balconies. The property is currently 97 percent leased to tenants that include Rhea+Kaiser, M/I Homes and Cargill. Alissa Adler, John Homsher and Paul Tesdal of Podolsky Circle represented the seller, SARA Investment Real Estate. Gateway Investment Partners purchased the asset.

May 30, 2018

Acquisitions Illinois Industrial Midwest Self-Storage

SVN Brokers $1.2M Sale of 300-Unit Self-Storage Portfolio in Kewanee, Illinois

by Kristin Harlow May 29, 2018

KEWANEE, ILL. — SVN | Chicago Commercial has brokered the $1.2 million sale of a five-property self-storage portfolio in Kewanee in northwestern Illinois. The portfolio spans 300 units and 47,000 square feet. The properties are located at 1313 W 6th St., 817 Lake St., 604 N. Tremont St., 1103 N. Main St. and 514 N. Spring St. (Atkinson, Ill.) The property mix includes four MidState Mini Storage buildings and one Pay & Store Self Storage building. David Coupe of SVN represented the undisclosed seller. A regional self-storage operator completing a 1031 exchange was the buyer.

May 29, 2018

Illinois Industrial Leasing Activity Midwest

Entre Commercial Negotiates 30,000 SF Industrial Lease in Mundelein, Illinois

by Kristin Harlow May 25, 2018

MUNDELEIN, ILL. — Entre Commercial Realty has negotiated a 30,000-square-foot industrial lease on behalf of Ancient Graffiti Inc. in Mundelein, a northern suburb of Chicago. The 60,000-square-foot distribution facility is located at 1700 S. Butterfield Road. Ancient Graffiti develops handcrafted garden and home décor. The company will be relocating from its current facility in Lake Zurich. Brian Bocci of Entre Commercial represented the tenant in the lease transaction. CBRE represented the undisclosed landlord.

May 25, 2018

Illinois Industrial Leasing Activity Midwest

Concepts in Flooring Leases 13,191 SF of Industrial Space in Bensenville, Illinois

by Kristin Harlow May 24, 2018

BENSENVILLE, ILL. — Concepts in Flooring has signed a 13,191-square-foot industrial lease at 628 Thomas Drive in Bensenville near the Chicago O’Hare International Airport. The flooring installation company is based in Addison. Jay Farnam of Lee & Associates represented the tenant in the lease transaction. Venture One is the property landlord.

May 24, 2018

Illinois Loans Midwest Multifamily

Eyzenberg & Co. Arranges $28M Bridge Loan for 304-Unit Apartment Property in Suburban Chicago

by Kristin Harlow May 23, 2018

WOODRIDGE, ILL. — Eyzenberg & Co. has arranged a $28 million bridge loan for Woodland Ridge Apartments in Woodridge, a southwestern suburb of Chicago. The 304-unit apartment property, built in 1974, is located at 3421 Foxboro Drive. The financing enabled the borrower to pay off its initial acquisition loan and allocate additional funds for the continued renovation of the Class B property’s units and common areas. Clubhouse improvements include a full kitchen and game room, cyber café, grilling stations, laundry lounge and a 24-hour fitness center. David Eyzenberg, Jeff Conti and Diana Davidson of Eyzenberg arranged the loan with Hunt Mortgage Group. SSIL II LLC, a partnership comprising Auerbach Funds and Sinatra & Co. Real Estate, was the borrower.

May 23, 2018

Development Illinois Industrial Midwest

Bridge to Develop Three Industrial Buildings Totaling 926,947 SF in Waukegan, Illinois

by Kristin Harlow May 22, 2018

WAUKEGAN, ILL. — Bridge Development Partners LLC has unveiled plans to develop Bridge Point North Phase II, which consists of three industrial buildings totaling 926,947 square feet in Waukegan. Completion is slated for the end of this year. One of the buildings is nearly 60 percent pre-leased to Bolke-Miller Co., a contract packager headquartered in Waukegan. Bridge Point North is a 225-acre business park owned by a joint venture that includes Bridge Development Group, Banner Oak Capital Partners LP, Globe Corporate, Wanxiang America Real Estate Group and an undisclosed institutional investor. Whit Heitman, Sam Badger, Jared Paff and Brad Weiner of CBRE have been named as the leasing representatives for Bridge Point North.

May 22, 2018

Development Illinois Midwest Retail

Lynmark Breaks Ground on Retail Portion of Wheeling Town Center in Suburban Chicago

by Kristin Harlow May 22, 2018

WHEELING, ILL. — The Lynmark Group has broken ground on the retail portion of Wheeling Town Center, including anchor tenant CMX Cinemas, City Works Eatery and Pour House and Starbucks. The developer has also unveiled new tenants such as Mia’s Cantina and 312 Nails & Spa. The 100,000-square-foot commercial plaza is set to open in early 2019. Mexican grill and tequila bar Mia’s Cantina will occupy 4,000 square feet, while 312 Nails & Spa will occupy 2,500 square feet. Wheeling Town Center is a mixed-use development featuring a 300-unit luxury apartment building in addition to retail space.

May 22, 2018

Development Illinois Midwest Multifamily

Medici Living Group Opens 75-Unit Co-Living Concept in Chicago

by Kristin Harlow May 22, 2018

CHICAGO — Medici Living Group is opening QUARTERS in Chicago’s Fulton Market this month. The co-living concept will feature 75 apartment units, with 175 bedrooms known as “quarters.” Floor plans range from studios to five-bedroom units with a communal kitchen and bathrooms. The property also includes a common kitchen, outdoor lounge and rooftop deck. Co-living is aimed at young professionals, entrepreneurs and millennials because it provides all-inclusive housing. Each quarter is fully furnished with appliances and even mattresses, sheets and pillows. Leases are available for as little as three months. Medici has previously opened QUARTERS in Germany and New York City. Locally based Caton Commercial Real Estate Group assisted Medici with bringing the concept to Chicago.

May 22, 2018

Acquisitions Illinois Industrial Midwest

ML Realty Purchases 55,120 SF Industrial Building in Addison, Illinois

by Kristin Harlow May 21, 2018

ADDISON, ILL. — ML Realty Partners has purchased a 55,120-square-foot industrial building in Addison, about 20 miles west of Chicago. The purchase price was not disclosed. The single-tenant property is located at 31 S. Mitchell Court. Justin Lerner and Joe Karmin of Transwestern represented the undisclosed seller. Transwestern will also handle lease-up of the building.

May 21, 2018

Development Illinois Industrial Midwest

Dayton Street to Develop 116,000 SF Distribution Center in Bensenville, Illinois

by Kristin Harlow May 17, 2018

BENSENVILLE, ILL. — Dayton Street Partners is developing a 116,000-square-foot distribution center in Bensenville near O’Hare International Airport. Black Creek Group LLC owns the property. Construction will involve the demolition of an outdated facility located at 1055 Sesame St. The new building will feature a clear height of 32 feet, 24 exterior dock doors and 137 parking spots. Construction is scheduled to begin in June with completion slated for spring 2019.

May 17, 2018

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