Illinois

Essex Negotiates $2.2M Sale of Former Lincoln Log Factory in Chicago

by Kristin Harlow June 26, 2017

CHICAGO — Essex Realty Group Inc. has negotiated the sale of a vacant timber loft building, once home of Playskool Manufacturing Co.’s Lincoln Logs, for $2.2 million. The property is located at 1750 N. Lawndale Ave. in Chicago. The building features three floors of 15,278 square feet each. The attached warehouse includes an additional 23,380 square feet and office space totals 3,500 square feet. Jim Darrow and Jordan Gottlieb of Essex represented the undisclosed seller, while Brian Mond represented the buyer.

June 26, 2017

Illinois Loans Midwest Retail

Natixis Provides $34.7M Acquisition Financing for Retail Center in Arlington Heights, Illinois

by Kristin Harlow June 23, 2017

ARLINGTON HEIGHTS, ILL. — Natixis has provided $34.7 million in acquisition financing for Northpoint Center in Arlington Heights. The 276,333-square-foot retail center is located at the corner of Rand and Arlington Heights roads. A 68,237-square-foot Jewel-Osco anchors the center. A tenant at the property since 1991, Jewel-Osco recently renewed its lease and renovated the store. An initial $30.2 million loan will be provided, with the remaining $4.5 million earmarked to fund future leasing. Jeff Black of Colliers International arranged the financing for the borrower, an institutional investor.

June 23, 2017

Illinois Industrial Midwest

PREMIER Completes 110,439 SF Freezer Expansion Project in Northlake, Illinois

by Kristin Harlow June 23, 2017

NORTHLAKE, ILL. — PREMIER Design + Build Group LLC has completed a 110,439-square-foot addition to an existing freezer facility at a business park in Northlake, about 20 miles west of Chicago. More than 1 million square feet of space is undergoing construction or redevelopment at the park. The freezer facility features 58 truck stalls, a 104-car parking lot and 40 dock doors. The project team included Samantha Skopek and Rip Pogue of PREMIER. Cornerstone Architects LLC provided architectural services, while Structure-Logic provided engineering expertise. Bridge Development Partners LLC was the developer.

June 23, 2017

Illinois Midwest Multifamily

Interra Brokers $3.9M Sale of Multifamily Property in Chicago

by Kristin Harlow June 23, 2017

CHICAGO — Interra Realty has brokered the sale of a 43-unit multifamily property in Chicago’s Rogers Park neighborhood for $3.9 million. The property is located at 7245 N. Rogers Ave. The building features a mix of 12 studios, 24 one-bedroom units and six two-bedroom units. A 1,200-square-foot, vacant commercial space is best suited for office tenants. Craig Martin of Interra represented both the sellers and the buyers, local investors.

June 23, 2017

Illinois Industrial Midwest

Printing Arts Signs 46,973 SF Industrial Lease in Broadview, Illinois

by Kristin Harlow June 23, 2017

BROADVIEW, ILL. — Printing Arts has signed a 46,973-square-foot industrial lease in Broadview, about 12 miles west of Chicago. The printing production and materials storage company will occupy the space at 2105 W. 21st St. Printing Arts is expanding from an adjacent building. Mandy Lewandowski of Darwin Realty represented the landlord, Welbic III Broadview 21 LLC, in the lease transaction.

June 23, 2017

Illinois Midwest Retail

Millennium Properties Brokers Sale of Two Retail Centers in Suburban Chicago

by Kristin Harlow June 22, 2017

BARRINGTON AND ELMHURST, ILL. — Millennium Properties has brokered the sale of two retail centers in suburban Chicago. The sales prices were not disclosed. Chet Evans of Millennium brokered the sale of a 9,800-square-foot retail center located at 121-141 S. Northwest Highway in Barrington. The two-building center is fully leased to five tenants including JC Licht Benjamin Moore and Farmers Insurance. Brad Thompson of Millennium brokered the sale of a 9,667-square-foot building located at 110-112 W. Park Ave. in Elmhurst. The property features a mix of retail, restaurant and office space and is fully leased to tenants such as Lou Malnati’s.

June 22, 2017

Illinois Industrial Midwest

Ice Mobility Signs 98,735 SF Industrial Lease in Lincolnshire, Illinois

by Kristin Harlow June 22, 2017

LINCOLNSHIRE, ILL. — Ice Mobility has signed a 98,735-square-foot industrial lease in Lincolnshire, a northern suburb of Chicago. The distributor of wireless products and provider of supply-chain solutions will occupy the entire building located at 610 Schelter Road. Built in 2009, the warehouse facility contains 30-foot clear heights and 12,000 square feet of office space. Ice Mobility will relocate from Vernon Hills, Illinois. Keith Puritz, Brett Kroner and Eric Fischer of Cushman & Wakefield arranged the lease transaction on behalf of the property owner, Industrial Property Trust Inc. Tom Condon of Lee & Associates represented the tenant.

June 22, 2017

Illinois Industrial Market Reports Midwest Midwest Market Reports

Priming Chicago’s Industrial Corridors For 21st Century Development

by Kristin Harlow June 22, 2017

As Chicago has emerged as one of the country’s top tech capitals, large parcels of land across the city -— many set aside for manufacturers that no longer do business there — have remained stuck in the past, serving as roadblocks to billions of dollars in new real estate development. That’s about to change thanks to a yearlong effort spearheaded by Mayor Rahm Emanuel and the city’s Department of Planning and Development, which recently approved recommendations for modernizing the first of 26 industrial corridors across the city. The recommendations are the result of a community engagement process that solicited feedback from various stakeholders, including our firm and other real estate developers. The plan will pave the way for new residential and commercial projects throughout the North Branch Industrial Corridor, which stretches from Kinzie Street to just north of Fullerton Avenue along the Chicago River. These investments, which include much-needed infrastructure and open space initiatives, will engage the adjacent riverfront and create mixed-use environments. The early years In the 1980s, the city of Chicago designated a series of industrial corridors and Planned Manufacturing Districts (PMDs) — many along waterways and railways — to protect the city’s industrial base from encroachment by …

June 22, 2017

Illinois Industrial Midwest

Aeronet Worldwide Signs 29,643 SF Industrial Lease in Roselle, Illinois

by Kristin Harlow June 21, 2017

ROSELLE, ILL. — Aeronet Worldwide Inc. has signed a 29,643-square-foot industrial lease in Roselle, about 30 miles northwest of Chicago. The property is located at 1055 Stevenson Court. The global logistics company is moving from an 8,000-square-foot space in Bensenville. Trinity Scurto of Brown Commercial Group represented Aeronet Worldwide in the lease transaction. Brian Kling and Ron Behm of Colliers International represented the building owner, James Campbell Co. LLC.

June 21, 2017

Healthcare Illinois Midwest

McGrath Completes $4.8M Operating Room at Hospital in Belleville, Illinois

by Kristin Harlow June 20, 2017

BELLEVILLE, ILL. — McGrath & Associates has completed construction of a new $4.8 million hybrid vascular operating room at Memorial Hospital Belleville in Belleville, about 17 miles east of St. Louis. The room incorporates advanced surgical, imaging and monitoring technology for endovascular surgical procedures. McGrath combined two existing operating rooms to accommodate the high-tech equipment, including a Siemens Artis Zeego robotic-arm imaging system and Storz monitoring equipment. McGrath also recently completed the renovation of Operating Room 6 at the hospital. Archimages served as architect for both projects.

June 20, 2017

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