Illinois

33 Realty Negotiates Sale of Historic Weyland Building in Chicago

by Kristin Harlow April 28, 2017

CHICAGO — 33 Realty has negotiated the sale of the historic Weyland building located at 1970-84 N. Milwaukee Ave. in Chicago’s Logan Square neighborhood. Designed by Chicago architect John Ahlschlager and built in 1907, the three-story property includes four apartments and approximately 5,000 square feet of ground-floor retail space. CRG Real Estate Solutions, a wholly owned subsidiary of Clayco Inc., purchased the property with plans to transform it into 132 apartments and 7,000 square feet of retail space. Chet Kondas of 33 Realty represented the seller, Armitage Milwaukee Development. Justin Moore of Chicago Real Estate Resources represented the buyer. The sales price was not disclosed, but the asking price was $5 million.

April 28, 2017

Illinois Midwest Multifamily

Essex Brokers $5M Sale of Multifamily Portfolio in Chicago

by Kristin Harlow April 28, 2017

CHICAGO — Essex Realty Group Inc. has brokered the sale of three multifamily properties in Chicago for $5 million. 2137 N. Sheffield is a four-unit building located in Lincoln Park. The units vary in size from 800 to 1,000 square feet. 3052 N. Seminary is a five-unit building with units ranging from one- to four-bedrooms. 821 W. Newport Ave. is a six-unit building located in Chicago’s Lakeview neighborhood. The units vary in size from 650 to 1,150 square feet. Doug Imber, Kate Varde and Clay Maxfield of Essex brokered the transaction. Neither the buyer nor the seller was disclosed.

April 28, 2017

Illinois Midwest Restaurant Retail

Starbucks to Open Roastery in Chicago in 2019

by Kristin Harlow April 27, 2017

CHICAGO — Starbucks Coffee Co. has unveiled plans to open a Starbucks Reserve Roastery in Chicago in 2019. Located on North Michigan Avenue and Erie Street on Chicago’s Magnificent Mile, the Chicago Reserve Roastery will be the company’s third Roastery location in the United States, following Seattle, which opened in December 2014, and New York City, which is slated to open in 2018. The 43,000 square-foot space will be dedicated to roasting, brewing and packaging the company’s small-batch Starbucks Reserve coffees from around the world. Tailored to the Chicago customer, the four-story building will offer multiple brewing methods, specialty Reserve beverages and mixology. Reserve Roastery locations also include artisan breads and bakery items from Italian-based Rocco Princi. Robert Wislow, Camille Julmy and Todd Siegel of CBRE represented the landlord, Gordon Segal, in the lease transaction. Segal is the founder of Crate & Barrel. Adam Secher of Baum Realty Group represented Starbucks.

April 27, 2017

Illinois Midwest Retail

PCCP Provides $36M Loan for Refinancing of Retail Center in Chicago

by Kristin Harlow April 27, 2017

CHICAGO — PCCP LLC has provided a $36 million loan for the refinancing of Village Market in the Lakeshore East community of downtown Chicago. The 102,224-square-foot retail center is 87 percent leased and is anchored by a 56,000-square-foot Mariano’s store. Village Market opened in 2011. The borrower was a joint venture between Magellan Development Co. and Hanwha Engineering & Construction.

April 27, 2017

Illinois Industrial Midwest

First Western Arranges Sale of 15,000 SF Industrial Building in Schaumburg, Illinois

by Kristin Harlow April 26, 2017

SCHAUMBURG, ILL. — First Western Properties Inc. has arranged the sale of a 15,000-square-foot industrial building in Schaumburg. The sales price was not disclosed. The property is located at 631-653 Morse Ave. The multi-tenant building was 92 percent leased at the time of sale. Bradford Dessy of First Western represented the out-of-state buyer in the transaction. Jeff Schultz of Kinzie Brokerage represented the undisclosed seller.

April 26, 2017

Illinois Midwest Restaurant Retail

Vapiano to Open 9,188 SF Restaurant in Chicago

by Kristin Harlow April 26, 2017

CHICAGO — Vapiano has unveiled plans to open a 9,188-square-foot restaurant inside the AC Hotel Marriott in Chicago. The property is located at 630 N. Rush St. Spread over two floors, the new restaurant will serve Vapiano’s trademark pasta, pizza and salad by chefs from an open kitchen. The company has an established location at 44 S. Wabash Ave. and more than 181 locations in 31 countries. Matt Alexander and John Skalla of Bradford Allen represented Vapiano in the lease transaction. Todd Siegel and Phil Golding of CBRE, along with Bruce Westling of NAI MLG Commercial, represented the landlord. The restaurant is slated to open this fall.

April 26, 2017

Illinois Industrial Midwest

Investcorp Acquires Industrial Portfolio in Chicago and Boston for $160M

by Kristin Harlow April 25, 2017

CHICAGO — Investcorp has acquired an industrial portfolio in Chicago and Boston for $160 million. The portfolio spans six properties and 1.8 million square feet of warehouse and distribution space. The Chicago portfolio, located in close proximity to downtown Chicago, is comprised of three individual cold storage industrial buildings that are used primarily for the storage and distribution of frozen food products. Investcorp partnered with Bridge Development Partners on the transaction.

April 25, 2017

Illinois Industrial Midwest

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

by Kristin Harlow April 25, 2017

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.

April 25, 2017

Illinois Loans Midwest Multifamily Ohio

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

by Kristin Harlow April 24, 2017

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.

April 24, 2017

Illinois Midwest Office

Caterpillar Moves Global Headquarters to Deerfield, Illinois

by Kristin Harlow April 21, 2017

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.

April 21, 2017

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