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AcquisitionsIllinoisIndustrialMidwest

DarwinPW Realty/CORFAC International Brokers Sale of 37,136 SF Industrial Building in Elmhurst, Illinois

by Kristin Harlow

ELMHURST, ILL. — DarwinPW Realty/CORFAC International has brokered the sale of a 37,136-square-foot industrial building in the Chicago suburb of Elmhurst for an undisclosed price. Located at 737 N. Oaklawn Ave., the property features 13,920 square feet of office space, a clear height of 14.5 feet, two exterior docks, one drive-in door, 60 parking spaces and a fenced outdoor storage yard. George Cibula and Luke Ferzacca of DarwinPW Realty/CORFAC International represented the undisclosed seller. Joe Bronson of NAI Hiffman represented the buyer, Haskris, which is a manufacturer and distributor of engineered chillers and heat transfer systems. Haskris owns a building across the street and is planning to expand to the new facility.

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DevelopmentHealthcareIllinoisMidwest

Cook County Health to Build New Community Health Center in Chicago’s Bronzeville Neighborhood

by Kristin Harlow

CHICAGO — Cook County Health (CCH) has unveiled plans to build a new community health center at 467 E. 31st St. in Chicago’s Bronzeville neighborhood. Bronzeville Health Center will join CCH’s portfolio of more than a dozen community health centers located across Chicago and suburban Cook County. Anchored by CCH’s Provident Hospital, Bronzeville Health Center will offer family medicine, behavioral health and rehabilitation services, including physical therapy, occupational therapy and speech therapy. The 26,000-square-foot facility will include 44 exam rooms and a gym space for therapy services. The family medicine and behavioral health practices are moving from their existing location within Provident Hospital’s Sengstacke Health Center. The move also frees up more clinical space within Provident Hospital to allow for the expansion of hospital-based services. Patients will continue to be able to receive primary and specialty outpatient care at Sengstacke Health Center. CCH has spent more than $9 million to grow clinical services and modernize the Provident Hospital campus since 2020. The Cook County Bureau of Asset Management and CCH are investing $10 million to build out and furnish the new Bronzeville facility.

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IllinoisIndustrialLeasing ActivityLee & AssociatesMidwest

American Bear Logistics Signs 56,264 SF Industrial Lease in Bensenville, Illinois

by Kristin Harlow

BENSENVILLE, ILL. — American Bear Logistics Corp. has signed a 56,264-square-foot industrial lease at 1065 Thorndale Ave. in the Chicago suburb of Bensenville. Chris Nelson and Calvin Gunn of Lee & Associates represented the landlord, Prologis. Nick Krejci of CORE Industrial Realty represented the tenant, which is a logistics company that focuses on integrating international freight forwarding, warehouse management, U.S. inland road transportation and import/export customs declaration services.

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AcquisitionsIllinoisIndustrialMidwest

Entre Commercial Realty Arranges Sale of 35,000 SF Industrial Building in Franklin Park, Illinois

by Kristin Harlow

FRANKLIN PARK, ILL. — Entre Commercial Realty has arranged the sale of a 35,000-square-foot industrial building in the Chicago suburb of Franklin Park for an undisclosed price. The property at 10100 Pacific Ave. is situated near I-294 and O’Hare International Airport. Chris Wilbur and Jeffrey Locascio of Entre represented the seller, Climate Solutions Window & Doors, which expanded and relocated to a larger facility within Franklin Park. Edward Pohn of Coldwell Banker Commercial represented the undisclosed buyer.

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AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of Trophy Retail Property on Chicago’s Michigan Avenue

by Kristin Harlow

CHICAGO — Mid-America Real Estate Corp. has brokered the sale of a trophy retail property along Chicago’s Michigan Avenue for an undisclosed price. Located at 8 N. Michigan Ave., the property features a long-term lease with Starbucks and is located directly across the street from Millennium Park. Joe Girardi and Emily Gadomski of Mid-America represented the undisclosed seller. The buyer was a foreign high-net-worth family office.

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AcquisitionsIllinoisMidwestMultifamily

Bender Cos., Eastham Capital Acquire 85-Unit Arrive Town Center in Vernon Hills, Illinois

by Kristin Harlow

VERNON HILLS, ILL. — Bender Cos. and Eastham Capital have acquired Arrive Town Center in the Chicago suburb of Vernon Hills. Built in 2010, the property features 85 luxury apartment units, amenities and 10,000 square feet of ground-floor retail space. Floor plans average 1,200 square feet. Amenities include a lounge, fitness center, storage lockers and heated indoor parking garage. The property will undergo improvements and a rebranding, taking on the new name The Landing at Town Center. Kevin Girard, Zach Kaufman and Bill Baumann of JLL represented the buyer. The seller and sales price were undisclosed.

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DevelopmentIllinoisMidwest

Skender Completes Construction on Chicago Public Media Studio Renovations at Navy Pier

by Kristin Harlow

CHICAGO — Skender has completed a gut renovation on Chicago Public Media’s studio space located at 848 E. Grand Ave. on Chicago’s Navy Pier. The 7,600-square-foot studio space serves both WBEZ and the Chicago Sun-Times. The original broadcast studios dated back to 1995. The project involved the addition of custom soundproof windows between studios, soundproof editing booths, acoustic wall panels, mobile sound diffusers, millwork and graphics. Skender built out four two-person edit booths, two anchor studios, a talk studio, back-up on-air and production studio, dedicated production studio, audio/visual studio and an on-air music studio. The project team included architect V Three Studios and engineer Syska Hennessy Group.

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AcquisitionsIllinoisMidwestMultifamily

Kiser Group Arranges $1.8M Sale of Multifamily Property in Chicago’s Grand Crossing

by Kristin Harlow

CHICAGO — Kiser Group has arranged the sale of a multifamily property located at 7042 S. Michigan Ave. in Chicago’s Grand Crossing neighborhood for $1.8 million. All of the units have been renovated in the last 10 years, and the property was nearly fully occupied at the time of sale. Aaron Sklar and Noah Birk of Kiser represented the buyer and seller, both of which were long-term owners in the area. The sales price represented a cap rate of nearly 9 percent.

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AcquisitionsDevelopmentIllinoisIndustrialMidwest

Brown Commercial Group Negotiates Land Sale for 166,575 SF Industrial Development in Bartlett, Illinois

by Kristin Harlow

BARTLETT, ILL. — Brown Commercial Group has negotiated a land sale that will bring a new 166,573-square-foot industrial building to Bartlett in suburban Chicago. The project on the southeast corner of Kenyon Road and Illinois Route 25 will support warehousing, distribution or e-commerce tenants. Dan Brown of Brown Commercial Group represented Cratos Industrial in the acquisition. The project team includes Cornerstone Architects and DSI Group. The project will be divisible by three units of 45,000 to 65,000 square feet. Plans call for a clear height of 32 feet, 36 exterior truck docks, three-drive in doors and 202 parking spaces. Occupancy is slated for 2025.

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AcquisitionsColoradoGeorgiaIllinoisMidwestMultifamilyNew YorkNortheastSoutheastTexasTop StoriesWestern

Equity Residential to Acquire 11-Property Multifamily Portfolio from Blackstone for $964M

by Katie Sloan

CHICAGO AND NEW YORK CITY — Equity Residential (NYSE: EQR) has agreed to acquire an 11-property apartment portfolio from Blackstone (NYSE: BX) for $964 million. The acquisition is the largest U.S. multifamily purchase by any public real estate investment trust in the past seven years, according to reports by The Wall Street Journal.  The portfolio includes four properties totaling 1,357 units in Atlanta; four properties totaling 1,237 units in the Dallas/Fort Worth metropolitan area; and three properties totaling 978 units in Denver. Further details on the communities were not disclosed.  The properties were attractive to Equity Residential — one of the largest owners of multifamily assets in the U.S. with 79,738 units across 299 properties — due to their locations in markets where the Chicago-based firm is targeting growth, as well as the properties’ appeal to high-end renters. The acquisition is expected to close in the third quarter and will include separate transactions with Blackstone Real Estate Income Trust, Blackstone Real Estate Partners and Blackstone Property Partners. Eastdil Secured, RBC Capital Markets, Santander and Sumitomo Mitsui Banking Corporation (SMBC) acted as Blackstone’s financial advisors in the transaction. Simpson Thacher & Bartlett served as Blackstone’s legal counsel. Neal Gerber & Eisenberg, Hogan …

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