Illinois

CBRE Global Investors Fund Acquires 661,477 SF Office Building in Chicago

by Kristin Harlow September 29, 2017

CHICAGO — A fund advised by CBRE Global Investors has acquired 150 N. Michigan Avenue, a 661,477-square-foot office building in Chicago. The purchase price was not disclosed. The multi-tenant building is located in the East Loop submarket at the intersection of Michigan Avenue and Randolph Street. The property, which is 80 percent leased, features a recently completed conference center, fitness center and tenant lounge. Floor plates range from 9,400 to 18,800 square feet. CBRE plans to make further capital improvements to the property.

September 29, 2017

Illinois Industrial Midwest

Meridian Finishes Construction of 271,000 SF Distribution Building in Romeoville, Illinois

by Kristin Harlow September 29, 2017

ROMEOVILLE, ILL. — Meridian Design Build has completed construction of a 271,000-square-foot distribution building for Venture One in Romeoville, about 26 miles southwest of Chicago. The speculative industrial facility is located at 1200 Schmidt Road. The property features 32-foot clear heights, 27 truck docks, two drive-in doors and parking for 200 vehicles and 56 trailers. Ware Malcomb provided architectural services and Jacob & Hefner Associates completed civil engineering work. MB Financial provided the construction financing. Keith Stauber, Steve Ostrowski and Matt Rakowich of JLL are the property’s leasing agents.

September 29, 2017

Illinois Midwest Office

J.C. Anderson Completes Office Renovation for Pernod Ricard in Oakbrook Terrace, Illinois

by Kristin Harlow September 29, 2017

OAKBROOK TERRACE, ILL. — J.C. Anderson Inc. has completed interior renovations on behalf of Pernod Ricard USA LLC within the Oakbrook Terrace Tower in Oakbrook Terrace, a suburb of Chicago. Property owner and manager Equity Office selected J.C. Anderson to complete the tenant improvements to the space on the 21st floor within the 31-story building. Renovations of the office space for the wine and spirits company included the construction of workstations, phone rooms, a newly renovated kitchen and conference rooms. Seth Erlich, Andrew Mott and Bill Dennison led the project team on behalf of J.C. Anderson. Whitney Architects provided architectural services.

September 29, 2017

Illinois Midwest Office

Podolsky Circle to Manage 135,151 SF Office Building in Des Plaines, Illinois

by Kristin Harlow September 28, 2017

DES PLAINES, ILL. — Podolsky Circle has been awarded the management of a 135,151-square-foot office building in Des Plaines, a suburb of Chicago. The brokerage recently relocated its entire company office within the building, which is located at 1700 W. Higgins Road. Australia-based Quattro Asset Management owns the property, which was built in 1986. The building underwent renovations to the lobby, corridors, café and restrooms. Additional building enhancements are planned. Melissa Podolsky of Podolsky Circle will lead the property management team. The property is currently 69 percent leased to other tenants including Riddell and Batory Foods. Approximately 43,235 square feet is available for lease.

September 28, 2017

Hospitality Illinois Midwest

Graycor Completes Renovations at Marriott Resort in Lincolnshire, Illinois

by Kristin Harlow September 27, 2017

LINCOLNSHIRE, ILL. — Graycor Construction Co. has completed the first two phases of renovations at the Chicago Marriott Lincolnshire Resort in Lincolnshire, a northern suburb of Chicago. Graycor renovated all 390 guest rooms and suites with new windows, HVAC, carpet, ceramic tile, shower door and bathroom fixtures, wall covering and fresh paint. Phase II also included the construction of the Lakeside Pavilion, a 5,000-square-foot, climate-controlled space for weddings and other events. Graycor has also completed nearly 75 percent of the final phase of renovations, which includes rebuilding of King’s Wharf into two new restaurants — Three Embers and Wright’s Brew & Bistro; renovating the lobby Brewpub; adding a Starbucks on the premises; and a new M-Club and Spa. Steven Crowley of Graycor led the project team. The Gettys Group and Stantec provided design services, while Daccord LLC provided project coordination services. LA RFMBG Lincolnshire LLC owns the property and The Bricton Group manages the hotel.

September 27, 2017

Illinois Industrial Midwest

Principle to Build 107,000 SF Industrial Warehouse in Elk Grove Village, Illinois

by Kristin Harlow September 27, 2017

ELK GROVE VILLAGE, ILL. — Seefried Properties has selected Principle Construction Co. to build a 107,000-square-foot industrial warehouse in Elk Grove Village. The speculative property will be located at 2080 Lunt Ave. The building will feature 32-foot clear heights with 16 dock positions, two drive-in doors and parking for 134 vehicles. The property will be able to accommodate a single user or multiple tenants. Completion is slated for December. Mark Augustyn, Darrin Dehmlow and Mark Frane are leading the project team for Principle. Harris Architects is the project architect.

September 27, 2017

Illinois Midwest Multifamily

Interra Arranges $5M Sale of Condo De-conversion in Chicago’s Hyde Park

by Kristin Harlow September 27, 2017

CHICAGO — Interra Realty has arranged the sale of Everett Hyde Park in Chicago for $5 million. The 32-unit condominium building is located at 5454 S. Everett Ave. The property was renovated and converted to condominiums in 2007. Joe Smazal of Interra represented the condominium association and the purchaser, Chicago-based Tricap Residential Group. Under the Condominium Property Act in Illinois, condo unit owners can elect to sell a condo property if 75 percent of residents or more are in agreement. Sellers then have the option to either move out or to lease back the property from the new owner.

September 27, 2017

Illinois Midwest Seniors Housing

Belmont Village Breaks Ground on 149-Unit Seniors Housing Community in Chicago’s Lincoln Park

by Kristin Harlow September 26, 2017

CHICAGO — Belmont Village Senior Living has broken ground on a 149-unit seniors housing community in Chicago’s Lincoln Park. Belmont Village Lincoln Park will feature 120,500 square feet of assisted living and memory care units. The property is being developed on a parcel of land that was originally part of the Children’s Memorial Hospital campus. The building was demolished earlier this year. The project, slated to open in summer 2019, is Belmont Village’s first property in the Chicago proper. The developer has previously completed properties in Buffalo Grove, Carol Stream, Glenview and Oak Park.

September 26, 2017

Illinois Loans Midwest Multifamily

Associated Bank Provides $13M for Apartment Property Renovation in Chicago

by Kristin Harlow September 25, 2017

CHICAGO — Associated Bank has partnered with National Equity Fund Inc. to provide $13 million of Low Income Housing Tax Credit (LIHTC) equity for the rehabilitation of West Town Crossing Preservation. The apartment community spans 318 units and 68 buildings in several Chicago neighborhoods. The buildings scheduled for rehabilitation include 60 townhomes constructed between 1982 and 1991, and eight three-story buildings constructed between 1889 and 1948. The project, expected to take 24 months, will help preserve quality affordable housing. Bickerdike Redevelopment Corp. was the borrower.

September 25, 2017

Illinois Midwest Office

Tucker Development Completes Lease-Up of Office Building in Chicago’s Fulton Market

by Kristin Harlow September 25, 2017

CHICAGO — Tucker Development has completed the lease-up of the Offices at 900 West in Chicago. The property, which includes 45,000 square feet of retail space, is located in the heart of the Fulton Market neighborhood. Spaces, an Amsterdam-based co-working space provider, signed a 40,000-square-foot lease. Bill Rogers and Kerry Gilar of JLL represented Spaces in the deal. The firm will occupy its space in early 2018. In a separate transaction, private investment firm ParkerGale leased 6,146 square feet. Jud Henry of EnTrust Realty Advisors represented the firm in the lease transaction. Ron Lakin, Jessica O’Hara and Ellen Zalatoris of CBRE represented Tucker Development in both leases.

September 25, 2017

Newer Posts

Older Posts