Wednesday, July 23, 2025
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IllinoisIndustrialMidwest

Westmount Realty Capital Acquires 2.3 MSF Industrial Portfolio in Metro Chicago

by Kristin Harlow

CHICAGO — Westmount Realty Capital has acquired a 21-building, 2.3 million-square-foot industrial portfolio in the greater Chicago area. Sixteen of the properties are located in close proximity to Chicago O’Hare International Airport and the Illinois International Port District. The other five are situated north of Chicago from Lake County, Ill., to Kenosha, Wis. The portfolio is currently 82 percent occupied. This acquisition brings Westmount’s Chicago area assets to more than 5 million square feet of industrial space. Including this acquisition, Dallas-based Westmount now has nearly 8 million square feet of industrial space in the Midwest region within its portfolio. To accommodate the company’s growth in the region, Westmount will expand its local property management office into a regional office in Chicago.

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IllinoisMidwestRetail

Core Acquisitions Purchases 188,250 SF Shopping Center in Bloomington, Illinois

by Kristin Harlow

BLOOMINGTON, ILL. — Core Acquisitions LLC has acquired Bloomington Commons shopping center in Bloomington for an undisclosed price. The 188,250-square-foot center is located at the intersection of Veterans Highway and Empire Street. Schnucks grocery store anchors the property. Other tenants include Olive Garden, Chuck E. Cheese’s, Barnes & Noble and Jo-Ann Fabrics. May Real Estate represented the seller, an affiliate of Kimco Realty Corp. Old National Bank financed the acquisition.

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IllinoisMidwestSeniors Housing

Pathway to Living Opens 107-Unit Assisted Living Community in Westmont, Illinois

by Kristin Harlow

WESTMONT, ILL. — Pathway to Living has opened Aspired Living of Westmont in suburban Chicago. The 107-unit assisted living and memory care community is located on a three-acre site at 407 W. 63rd St. Aspired Living of Westmont is the first seniors housing community in the United States to provide residents with Spark of Life, a dementia care and support program. The property features 73 independent and assisted living apartments, including studio, one- and two-bedroom units ranging in size from 400 to 1,180 square feet, as well as 34 memory care studios. The community’s common areas include a restaurant and bistro, resident lounge with demonstration kitchen, cocktail lounge, library, technology center, movie theater, art studio, salon and spa. Residents also have access to fitness options including a yoga studio, gym with personal trainers and outdoor walking paths. In addition, an on-site therapy gym offers physical, occupational and speech therapy.

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IllinoisMidwestMultifamily

Essex Brokers $7.2M Sale of Apartment Building in Winnetka, Illinois

by Kristin Harlow

WINNETKA, ILL. — Essex Realty Group Inc. has brokered the sale of 454 Winnetka Ave. in Winnetka, 16 miles north of Chicago, for $7.2 million. The 52-unit apartment building includes two studios, 16 one-bedroom and 7 two-bedroom units. The property also features 6,000 square feet of office suites on the first floor. The building was renovated 10 years ago. Matt Welke of Essex brokered the transaction. Neither the buyer nor the seller was disclosed.

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HospitalityIllinoisMidwest

CBRE Arranges Sale of 117-Room Hotel in Tinley Park, Illinois

by Kristin Harlow

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.

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IllinoisIndustrialMidwest

Brown Commercial Brokers 32,000 SF Sale-Leaseback of Industrial Building in Elk Grove Village, Illinois

by Kristin Harlow

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.

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IllinoisMidwestMultifamily

Timberland Purchases 240-Unit Apartment Property in O’Fallon, Illinois

by Kristin Harlow

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.

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IllinoisMidwestOffice

CBRE Global Investors Fund Acquires 661,477 SF Office Building in Chicago

by Kristin Harlow

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.

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IllinoisIndustrialMidwest

Meridian Finishes Construction of 271,000 SF Distribution Building in Romeoville, Illinois

by Kristin Harlow

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.

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IllinoisMidwestOffice

J.C. Anderson Completes Office Renovation for Pernod Ricard in Oakbrook Terrace, Illinois

by Kristin Harlow

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.

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