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IllinoisIndustrialMidwest

CBRE Arranges Sale of 18,000 SF Industrial Building in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — CBRE has arranged the sale of an 18,000-square-foot industrial building in Aurora. The sales price was not disclosed. The property is located within the White Oak Business Park at 2505 Diehl Road. David Prioletti of CBRE represented the seller, Video Impressions. The building was constructed as a build-to-suit for Video Impressions, a video and audio company specializing in commercial, training film productions and broadcasting. Corey Chase of NKGF Inc. represented the buyer, Certified Laboratories, which will relocate its Romeoville operations to the facility once building improvements are completed this summer. The company will operate the facility as a quality testing facility for its various clients within the Midwest region.

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IllinoisLoansMidwestMultifamilyOhio

Hunt Mortgage Arranges $30.5M in Acquisition Financing for Multifamily Properties in Illinois and Ohio

by Kristin Harlow

DUNLAP, ILL. AND HOLLAND, OHIO — Hunt Mortgage Group has arranged $30.5 million in acquisition financing for multifamily properties located in Illinois and Ohio. Knoxville Pointe Apartments is a 218-unit apartment complex located in Dunlap, near Peoria, Ill., and comprised of 13 two-story buildings. The property was built in 2001. Fox Chase Apartments is a 304-unit apartment complex located in Holland, within the Toledo metro area, and comprised of 23 two-story buildings. The property was built in 1998. Michigan-based ROCO Real Estate was the borrower. The properties were financed through ROCO’s structured credit facility with Freddie Mac and Hunt.

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IllinoisMidwestOffice

Caterpillar Moves Global Headquarters to Deerfield, Illinois

by Kristin Harlow

DEERFIELD, ILL. — Caterpillar Inc. has unveiled plans to move its global headquarters from Peoria to Deerfield, a northern suburb of Chicago. The new building is located near Chicago O’Hare International Airport. Caterpillar arranged a multi-year leasing agreement with Corporate 500 office park. While the majority of employees will not be relocating, the company expects about 100 workers will move to the new building this year. The company says about 300 employees will be in the new headquarters when it is fully operational in mid-2018.

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IllinoisMidwestMultifamily

Luxury Apartment Tower Opens on Chicago’s North Side

by Kristin Harlow

CHICAGO — Ascend Real Estate Group and Intercontinental Real Estate Corp. have opened Niche 905, a 202-unit luxury apartment tower in Chicago’s Near North Side. The 18-story property is located at 905 N. Orleans St. A grand opening celebration took place on April 13. The tower features convertible, one-, two- and three-bedroom apartments ranging in size from 576 to 1,518 square feet. Rents start at $2,000. CORT Furniture furnished the convertible studio model, while Stanton Interior Concepts designed the one- and two-bedroom models. Amenities include 24-hour concierge service, pool, skydeck, grilling stations, fitness center, yoga studio and entertainment suite. Niche 905 also features 1,750 square feet of ground-floor retail space and a lobby with workstations.

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IllinoisMidwestOffice

First Western Properties Brokers $4.7M Sale of Office Building in Lisle, Illinois

by Kristin Harlow

LISLE, ILL. — First Western Properties Inc. has brokered the sale of 2 Woodland Corporate Center in Lisle, about 25 miles west of Chicago, for $4.7 million. The 56,000-square-foot office building is located at 4951 Indiana Ave. The property is 100 percent leased to two investment-grade tenants. Bradford Dessy of First Western Properties represented the out-of-state buyer. Jason St. John of Greenstone Partners represented the undisclosed seller.

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HealthcareIllinoisMidwest

Stage Acquires Outpatient Surgical Center in Bloomington, Illinois for $14.5M

by Kristin Harlow

BLOOMINGTON, ILL. — Stage Equity Partners has acquired The Center for Outpatient Medicine (TCOM) in Bloomington for $14.5 million. The 45,150-square-foot multi-specialty outpatient surgical center is located at 2502 East Empire St. The property is 100 percent leased to TCOM, which is majority owned by Advocate Health Care and Carle Clinic as well as 18 physicians. Stage purchased the asset from the physician owners of TCOM in a sale-leaseback transaction. MB Financial provided the financing.

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IllinoisIndustrialMidwest

Peak Construction Breaks Ground on 291,728 SF Industrial Building in Joliet, Illinois

by Kristin Harlow

JOLIET, ILL. — Peak Construction has broken ground on Building 14 in IDI Gazeley’s Rock Run Business Park in Joliet. The 291,728-square-foot speculative building will feature 36-foot clear heights, 38 dock doors, 234 parking spots and 88 trailer stalls. Completion is slated for this November. Peak teamed up with Sparks Architects Inc. and Jacob & Hefner Associates for civil engineering services on the project.

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IllinoisMidwestMixed-Use

Regency Centers to Develop 270,000 SF Mixed-Use Property in Greater Chicago Area

by Kristin Harlow

CHICAGO — Regency Centers Corp. has unveiled plans to develop Mellody Farm, a new mixed-use property in Vernon Hills, located 37 miles northwest of Chicago. The development will consist of nearly 270,000 square feet of retail space anchored by Whole Foods Market, Nordstrom Rack and REI. The project will also include 260 luxury apartment units. Focus Development and Atlantic Realty Partners will develop and own the apartment units. The project is slated for completion in late 2018.

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IllinoisMidwestMultifamily

High Street Residential, Carlson Break Ground on Luxury Apartment Community in Downers Grove, Illinois

by Kristin Harlow

DOWNERS GROVE, ILL. — Developer High Street Residential and general contractor Carlson Construction have broken ground on Maple&Main, a 115-unit luxury apartment community in Downers Grove, a western suburb of Chicago. The six-story building will include 4,000 square feet of ground-floor retail space. The community will offer one-, two- and three-bedroom units. Amenities will include a pet spa, bike lounge, coffee station, fitness center, yoga studio, pool and sky deck. Maple&Main is slated to open for occupancy in the second quarter of 2018. ESG Architects is the project architect. David Paino and Jerry Ebert of High Street Residential are overseeing project development. Jacob Dell of CBRE is handling retail leasing.

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IllinoisMidwestOffice

InvenTrust Signs 22,000 SF Office Lease in Downers Grove, Illinois

by Kristin Harlow

DOWNERS GROVE, ILL. — InvenTrust Properties Corp. has signed a 22,000-square-foot office lease at the Highland Landmark II building in Downers Grove, a suburb of Chicago. The real estate investment trust will occupy the space at 3025 Highland Parkway. InvenTrust is moving its corporate headquarters currently located at 2809 Butterfield Road in Oak Brook, Ill. The company expects to complete the move this summer. Jon Springer and Gary Fazzio of CBRE represented the tenant in the lease transaction.

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