Illinois

Dunkin’ Donuts to Open Location in Machesney Park Near Rockford, Illinois

by Jeff Shaw August 1, 2017

MACHESNEY PARK, ILL. — Dunkin’ Donuts has unveiled plans to open a new location at the intersection of Harlem Road and North Second Street in Machesney Park, roughly seven miles north of Rockford, Illinois. The location will be the fourth store in the Rockford area for co-owners Vijay Patel and Greg Novak, who secured the new location in a shopping center occupied by Michalsen’s Office Furniture. Slated to open this fall, Dunkin’ Donuts will join several new tenants who have opened in Machesney Park, including Potbelly Sandwich Shop and Eggspresss. Pita Pit is expected to open later this month.

August 1, 2017

Illinois Midwest Multifamily

MCM Acquires 509-Unit Multifamily Property in Mount Prospect, Illinois

by Kristin Harlow July 31, 2017

MOUNT PROSPECT, ILL. — Monument Capital Management (MCM), a division of A-ROD CORP, has acquired the Residences at 1550 in Mount Prospect, about 22 miles northwest of Chicago. The purchase price was not disclosed. The 509-unit multifamily property is situated on 20 acres at 1550 W. Dempster St. The property features one-, two- and three-bedroom garden and townhome units. MCM plans to upgrade select units and improve exterior landscaping. The firm’s sister company, Monument Real Estate Services, will manage the property.

July 31, 2017

Illinois Industrial Midwest

Entre Commercial Arranges Sale of 76,421 SF Industrial Building in Cary, Illinois

by Kristin Harlow July 31, 2017

CARY, ILL. — Entre Commercial Realty LLC has arranged the sale of a 76,421-square-foot industrial building in Cary, about 40 miles northwest of Chicago. The sales price was not disclosed. The property is located at 680 Industrial Drive. Illinois Lift Equipment Inc., a national equipment dealer providing forklifts and scissor lifts, purchased the property from Midwest Industrial Funds (MIF). The industrial investment and development company sold the building after completing extensive upgrades, including the demolition of over 20,000 square feet of a two-story oﬃce space; demolition of over 20,000 square feet of warehouse mezzanines, modernization of the truck docks; roof repairs; upgraded lighting; landscaping; parking lot replacement; and façade remodeling. Dan Jones, Mike DeSerto and Cory Kay of Entre Commercial represented MIF in both the original acquisition of the property and this sale. Steve Morken of Morken Associates represented the buyer in the transaction. In addition, Entre Commercial arranged a 25,000-square-foot lease at the property for Witt Management Group, a third-party provider of warehousing, order fulfillment and distribution.

July 31, 2017

Illinois Midwest Office

CenterCore Acquires 168,000 SF Office Complex in Lisle, Illinois

by Kristin Harlow July 28, 2017

LISLE, ILL. — CenterCore Properties LLC has acquired Corporetum Office Campus VI in Lisle for an undisclosed price. The 168,000-square-foot, Class A property is located at 550-650 Warrenville Road. The two-building complex features amenities such as a fitness center, conference center and on-site café. The property is currently 82 percent leased to tenants such as Fairway Mortgage, Primera Engineers, Circle K, United Healthcare and ABM Janitorial Services. Colliers International will continue to serve as the property manager and leasing agent for Corporetum VI. Winthrop Realty Liquidating Trust was the seller.

July 28, 2017

Illinois Midwest Multifamily

Draper and Kramer Undertakes Renovation, Rebranding of 448-Unit Apartment Property in Palatine, Illinois

by Kristin Harlow July 28, 2017

PALATINE, ILL. — Draper and Kramer Inc. has begun work on an $8.2 million renovation and rebranding of Village Park of Palatine after acquiring the 448-unit apartment property in Palatine. Located at 852 W. Panorama Road, the property has been renamed as The Clayson. The community consists of 15 two- and three-story buildings with a mix of one-, two- and three-bedroom apartments. All units are being renovated, with new rents ranging from $892 to $1,485. As part of the common area improvements, an existing clubhouse is being remodeled to include a new resident lounge area with a bar, built-in kitchen and fireplace; a fitness center offering on-demand exercise classes; and a new leasing office. Additionally, Draper and Kramer is adding a sun deck with a fire pit and outdoor grilling station, and a new dog park and bocce ball court. The new amenities will open this fall.

July 28, 2017

Illinois Midwest Multifamily

McShane Breaks Ground on 295-Unit Luxury Apartment Complex in Lombard, Illinois

by Kristin Harlow July 27, 2017

LOMBARD, ILL. — Greystar has selected McShane Construction Co. to build Elan Yorktown, a 295-unit luxury apartment complex in the Chicago suburb of Lombard. The four-story property is under construction on a six-acre parcel at 50 Yorktown Shopping Center. The building will feature a mix of studio, one-, two and three-bedroom units. Amenities will include exterior courtyards, a fitness center, golf simulator room, theater room, library, clubroom, pool and grilling stations. ESG Architects is providing the architectural services for the project, slated for completion in May 2019.

July 27, 2017

Illinois Midwest Office

Cawley to Lease 450,000 SF Office Portfolio in Des Plaines, Illinois

by Kristin Harlow July 27, 2017

DES PLAINES, ILL. — Cawley Chicago has been selected as the leasing agent for the O’Hare Offices, a three-building, 450,000-square-foot office portfolio in Des Plaines near the Chicago O’Hare International Airport. The portfolio consists of 999, 1011 and 1111 Touhy Ave. Affiliates of Siete 7 LLC, a private investment group that occupies space in one of the buildings, own the portfolio. The three buildings were developed from 1973 to 1979 and acquired in separate transactions in 2008 and 2009. The buildings are currently 50 percent leased and offer spaces ranging from 933 square feet to 60,000 square feet. Amenities include executive conference and training rooms as well as a fitness center. The owners of the building are undertaking several initiatives to help market and position the buildings, such as creating move-in ready suites, general cleanup and refreshing of available space and improved property signage.

July 27, 2017

Illinois Industrial Midwest

NKF Negotiates Three Industrial Lease Renewals in Bensenville, Illinois

by Kristin Harlow July 27, 2017

BENSENVILLE, ILL. — NKF has negotiated three lease renewals for industrial companies in Bensenville, located in the heart of the O’Hare market. Adam Marshall of NKF represented the tenants in all of the lease transactions. Mitsui-Soko USA Inc. signed a lease renewal for 71,242 square feet at 888 Thomas Drive within Bensenville Industrial Park. The landlord, Prologis, was self-represented. Lion Logistics signed a 45,088-square-foot lease renewal at 1001 Bryn Mawr. The property is also owned by Prologis. In addition to the renewal, NKF negotiated funding for tenant improvements and upgrades to the space on behalf of the tenant. Fidelitone Logistics signed a 43,053-square-foot renewal at 1107 Ellis St. NKF secured a long-term renewal with a tenant improvement allowance for various building improvements. The owner of the building, Industrial Property Trust, was self-represented in the lease negotiations.

July 27, 2017

Illinois Midwest Retail

ICI Completes Construction of 61,940 SF Jewel Osco in Deerfield, Illinois

by Kristin Harlow July 26, 2017

DEERFIELD, ILL. — ICI has completed the construction of a 61,940-square-foot Jewel Osco in Deerfield. The grocery store is located at the corner of Waukegan and Lake Cook roads. The store was built between an existing strip center. The new Deerfield store features an updated look with a juice bar, customer seating area, sushi section and expanded departments. This store marks the ninth project ICI has completed for Jewel Osco. A ribbon-cutting ceremony for the store’s opening took place on July 19.

July 26, 2017

Illinois Industrial Midwest

Morgan/Harbour Completes Construction of 41,100 SF Office, Warehouse Facility in Buffalo Grove, Illinois

by Kristin Harlow July 25, 2017

BUFFALO GROVE, ILL. — Morgan/Harbour Construction has completed a new 41,100-square-foot office and warehouse headquarters for ThermFlo Inc. and its sister company, Zonatherm Products Inc., in Buffalo Grove. Situated on 4.3 acres and located at 875 Busch Parkway in the Corporate Grove Industrial Park, the facility features an open office concept with workstations, private executive offices, conferencing spaces, a seminar room, full-glass product showroom, lunchroom, 20-foot clear height warehouse, two exterior docks, two drive-in doors and 136 parking stalls. Brian Smith, Rich Cassidy and Scott Guerra of Morgan/Harbour led the project team. Ware Malcomb provided architectural services, while Clarius Partners provided development management services. Previously located in Wheeling, ThermFlo is a 24-hour service and construction company with engineering design and CAD capabilities.

July 25, 2017

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