Illinois

Animal Supply Signs 220,000 SF Industrial Lease in Bartlett, Illinois

by Kristin Harlow January 16, 2018

BARTLETT, ILL. — Animal Supply Co. has signed a 220,000-square-foot industrial lease in Bartlett, about 35 miles northwest of Chicago. The distributor of wholesale pet products will occupy the space at 1323 Brewster Creek Blvd. within the Brewster Creek Business Park. The property is a 421,401-square-foot warehouse newly constructed in the summer of 2017. The building features a clear height of 32 feet, 48 dock doors and 40 trailer spaces. Animal Supply will relocate from 6450 Muirfield Drive in Hanover Park. Adam Marshall, Brian Carroll and Mark Deady of Newmark Knight Frank (NKF) represented the tenant in the lease transaction. Jeffrey Janda and Steve Bass of Lee & Associates represented ownership.

January 16, 2018

Illinois Midwest Office

Tri-Venture Acquires 693,546 SF Office Property in Lisle, Illinois

by Kristin Harlow January 15, 2018

LISLE, ILL. — A venture between GFH Financial Group BSC, Lincoln Property Co. and Crestlight Capital has acquired Central Park of Lisle I and II in Lisle. The sales price was $129 million, according to Crain’s Chicago Business. The two-building office property totals 693,546 square feet. Completed in 1991, Central Park of Lisle I is a seven-story building featuring 381,634 square feet. Central Park of Lisle II, built in 2001, features eight stories of office space totaling 311,912 square feet. Combined, the properties are 86 percent leased to tenants such as Armour-Eckrich Meats LLC, CA Technologies, Millward Brown (Kantar), EMC Corp. and Kone. Amenities include an on-site athletic club, childcare, cafeteria, conference facility and executive parking. The transaction included the 7.5-acre development parcel to the east of the site fronting I-88. Bryan Rosenberg, Patrick Shields, Jaime Fink, Jeff Bramson and Mark Katz of HFF marketed the property on behalf of the undisclosed seller and procured the buyer. Eric Tupler and Trent Niederberger of HFF arranged financing for the borrower through Citigroup.

January 15, 2018

Illinois Midwest Office

Crate & Barrel Inks 117,000 SF Office Lease at The Fields in Chicago

by Kristin Harlow January 15, 2018

CHICAGO — Crate & Barrel has signed a 117,000-square-foot lease for office and production space at The Fields in Chicago. Crate & Barrel plans to use the space for photo and video production. The Fields is a 22-acre, 1.5 million-square-foot redevelopment of the former Marshall Field’s campus located at 4000 West Diversey St., and is part of the Logan Square neighborhood. In 1965, Marshall Field and Co. acquired the six-story loft building, which was constructed in 1928. After going vacant in 2008, 4K Diversey Partners LLC, a partnership of Louis Silver, Aaron Paris and Paul Fishbein, acquired the complex. Developer Merit Partners began a mixed-use redevelopment at the site in January 2014. The project now comprises 300,000 square feet of office space; 123 residential rental lofts; 100,000 square feet of retail space, including the flagship Cermak Fresh Market; a 125,000-square-foot Cubesmart Self Storage business; and a 400,000-square-foot warehouse anchored by Studio 41. Cushman & Wakefield’s Barbara Schenberg and Teddy Walsh represented ownership in the lease transaction, while Steve Schneider and Andy Heymann, also of Cushman & Wakefield, represented Crate & Barrel.

January 15, 2018

Illinois Midwest Seniors Housing

SWIDA Breaks Ground on $10.9M Affordable Seniors Housing Community in Swansea, Illinois

by Kristin Harlow January 12, 2018

SWANSEA, ILL. — Southwestern Illinois Development Authority (SWIDA), in partnership with Bywater Development Group and Bi-State Development, has broken ground on Metro Landing of Swansea near St. Louis. The $10.9 million transit-oriented development will feature 62 affordable seniors housing apartment units adjacent to the Swansea MetroLink Station. St. Louis-based Altman Charter is serving as general contractor for the project, which is scheduled for completion in spring 2019. Chicago-based Worn Jerabek Wiltse Architects is the architect. The Illinois Housing Development Authority (IHDA) provided the majority of project financing, with additional construction financing provided by PNC Bank. Additional support comes from the Illinois Department of Commerce and Economic Opportunity (DCEO) and Ameren, along with the St. Clair County Intergovernmental Grants Department.

January 12, 2018

Illinois Midwest Office

RDG Acquires 37,172 SF Office Building in Chicago’s West Loop

by Kristin Harlow January 12, 2018

CHICAGO — RDG Funds LLC has acquired 156 N. Jefferson Street in Chicago’s West Loop for an undisclosed price. RDG plans to redevelop and restore the 37,172-square-foot historic timber and beam loft office building. Currently vacant, the property is located two blocks from the Ogilvie Transportation Center.

January 12, 2018

Illinois Midwest Multifamily

Kiser Group Brokers $3.6M Sale of Multifamily Property in Chicago

by Kristin Harlow January 12, 2018

CHICAGO — Kiser Group has brokered the sale of a 41-unit multifamily property in Chicago’s Buena Park neighborhood for $3.6 million. The building, located at 4070 N. Kenmore Ave., was originally built as a hotel in the 1920s. All 41 units feature studio floor plans. Lee Kiser and Rick Ofman brokered the transaction. A local landlord purchased the asset from 4070 Kenmore Corp., which had owned the property for more than 30 years.

January 12, 2018

Illinois Midwest Mixed-Use

R2 Cos. to Redevelop Morton Salt Site into Mixed-Use Development in Chicago

by Kristin Harlow January 11, 2018

CHICAGO — R2 Cos. has purchased Morton Salt Inc.’s iconic property on Elston Avenue with plans to redevelop the former packaging and warehousing operation into a mixed-use development. R2 purchased the 4.2-acre site for $15 million, according to local media reports. As part of the agreement, Morton Salt will retain its branded rooftop and relocate the company’s research and development center to the site from its current location in Elgin, Ill. The center will anchor the office portion of the development with 20,000 square feet. Morton Salt selected R2 in 2016 to re-imagine the riverfront site from heavy industrial use to commercial and retail use. Morton Salt is headquartered in Chicago.

January 11, 2018

Illinois Midwest Office

Podolsky Circle Arranges $20.9M Sale of Office Building in Northbrook, Illinois

by Kristin Harlow January 11, 2018

NORTHBROOK, ILL. — Podolsky Circle CORFAC International has arranged the sale of 400 Skokie Boulevard in Northbrook, a northern suburb of Chicago, for $20.9 million. Built in 1984 and renovated in 2012, the 195,326-square-foot office building features a café, fitness center, conference center, on-site storage and two balconies. The property is currently 77 percent leased to multiple tenants. Alissa Adler, John Homsher and Paul Tesdal of Podolsky Circle represented the seller, Syndicated Equities. Ameritus Real Estate Investment purchased the asset. Podolsky Circle managed 400 Skokie Boulevard prior to the sale and has been retained by the new owner to continue property management.

January 11, 2018

Illinois Midwest Multifamily

Draper and Kramer Breaks Ground on 58-Unit Luxury Apartment Building in Chicago

by Kristin Harlow January 10, 2018

CHICAGO — Draper and Kramer Inc. has broken ground on a boutique apartment building along Chicago’s lakefront. The eight-story rental property, which will be situated on the last undeveloped site on North Lake Shore Drive in the Gold Coast neighborhood and known as 61 Banks Street, will feature a mix of 58 two- and three-bedroom residences. Designed by Larry Booth of Booth Hansen, the building will be topped by a green roof with an outdoor terrace as well as an enclosed rooftop amenity space. Seven “maisonette” residences, which feature two-story units with street-level entrances and private terraces, will flank the ground floor of the property. Jacobs/Ryan Associates is designing the landscaped areas while Leopardo Cos. is serving as the project’s general contractor. Two-bedroom units will average 1,700 square feet while three-bedroom units will average 2,400 square feet. Monthly rents are expected to range from $5,500 to over $12,000. Residents will have access to a full-time concierge and 24-hour valet parking.

January 10, 2018

Illinois Midwest Mixed-Use

Marcus & Millichap Brokers $3.4M Sale of Mixed-Use Building in Chicago

by Kristin Harlow January 10, 2018

CHICAGO — Marcus & Millichap has brokered the sale of a 6,100-square-foot mixed-use building in Chicago’s Lakeview neighborhood for $3.4 million. The property, located at 3452 N. Southport Ave., features three apartment units and one retail tenant on the ground floor. Hanna Andersson, a children’s retailer, occupies the ground-floor space. Kyle Stengle of Marcus & Millichap represented the seller, a local developer. An international private investor purchased the asset.

January 10, 2018

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