Illinois

R2 Cos., York Capital Management Provide $23.8M for 770 N. Halsted St. in Chicago

by Haisten Willis September 27, 2016

CHICAGO — R2 Cos. and York Capital Management have competed the $23.8 million recapitalization 770 N. Halsted St. in Chicago. The property consists of two eight-story office buildings in the River West neighborhood totaling 149,000 square feet. Major tenants include Radius, Inxpo and Northeastern Illinois University. R2 has completed a lease with Aire Ancient Baths, a spa with locations in Paris and New York, to open in 2017. The property is located on the border of the River West neighborhood and Goose Island, where R2 owns and operates 500,000 square feet of buildings and 12 acres of land.

September 27, 2016

Illinois Midwest Retail

Jameson Commercial Arranges $3.6M Sale of Retail Property in Chicago

by Haisten Willis September 26, 2016

CHICAGO — Chris Irwin, Adam Napp and Mark Jones of Jameson Commercial have arranged the sale of 1311 and 1317 W. North Ave. in Chicago. Both properties were part of the estate of James Bielarz, longtime owner of Nortown Automotive who passed away in December 2015. The combined purchase price for the two properties was $3.6 million or $156 per square foot. The property includes an 8,800-square-foot automotive repair building and an 8,862-square-foot building leased to Showtime Audio, an automotive sound system installer.

September 26, 2016

Illinois Midwest Multifamily Seniors Housing

SWIDA to Develop Seniors Housing Near Swansea MetroLink Station in Metro St. Louis

by Haisten Willis September 22, 2016

SWANSEA, ILL. — Southwestern Illinois Development Authority (SWIDA), in partnership with Bywater Development Group and Bi-State Development (BSD), is developing a $10.5 million seniors housing project adjacent to the Swansea MetroLink station in Swansea, Ill. The Illinois Housing Development Authority (IHDA) in Chicago approved the transit-oriented development project on Sept. 16. The new development, Metro Landing of Swansea, will feature a three-story building with 62 one- and two-bedroom apartments for older adults. Located adjacent to the Swansea MetroLink Station, residents can reach restaurants, retail and entertainment via mass transit. Construction will begin next summer and is scheduled for completion in late summer 2018.

September 22, 2016

stream-industrial-portfolio-wisconsin-minnesota

Illinois Industrial Midwest

Stream Capital Completes $14.5M Sale-Leaseback of Industrial Lumberyard Portfolio

by Haisten Willis September 21, 2016

CHICAGO — Chicago-based Stream Capital Partners has executed the sale-leaseback of an industrial lumberyard portfolio. The tenant, Consolidated Lumber, is leasing back 13 properties in Wisconsin and Minnesota. The portfolio is comprised of over 300,000 square feet of building area, situated on nearly 3 million square feet of land. A REIT was the buyer. The purchase price was $14.5 million. The lease is structured as a long-term triple net lease with periodic rent increases and multiple options for renewal. Jonathan Wolfe and Jordan Shtulman of Stream Capital Partners represented the seller on the transaction.

September 21, 2016

Illinois Midwest Office

The Missner Group Acquires 115,000 SF Oxxford Building in Chicago

by Haisten Willis September 21, 2016

CHICAGO — The Missner Group has acquired the Oxxford Building, located at 1220 W. Van Buren St. in Chicago. The firm plans to redevelop the 115,000-square-foot office/showroom and manufacturing building into a Class A loft office building. The seven-story property includes a basement and an 8,000-square-foot adjacent vacant lot, which serves as parking. Located in Chicago’s West Loop, 1220 West Van Buren is surrounded by new residential and commercial developments and offers frontage off the Eisenhower Expressway (I-290). The Missner Group’s redevelopment plans for 1220 West Van Buren include building out the space to include open floor plans, exposed ductwork, concrete and brick features as well as a tenant lounge with rooftop deck, fitness center, conference center, locker rooms and bike parking facilities. Oxxford Clothing, a manufacturer of men’s clothing, currently occupies the property. The firm has occupied the building for the past 67 years and at one time manufactured 35,000 suits per year. After a short-term lease, Oxxford will complete its transition to a new facility near Midway Airport. Ed Adler of The Missner Group led the acquisition for the firm. Ari Klein, Larry Goldwasser and Colin Green of Cushman and Wakefield represented Oxxford in the transaction.

September 21, 2016

1000-east-woodfield-road-schaumburg-illinois

Illinois Midwest Office

Entre Arranges Sale of 204,345 SF Office Building in Schaumburg, Ill.

by Haisten Willis September 20, 2016

SCHAUMBURG, ILL. — Brian Bocci of Entre Commercial Realty LLC represented Vinayaka Holdings Corp. in the purchase of a 204,345-square-foot office building located at 1000 E. Woodfield Road in Schaumburg. Entre Commercial Realty has also been retained to market the refurbished building for lease. The building’s lobby was recently renovated and the exterior was painted. The parking lot will be refurbished and new landscaping will be installed as well. The property is within walking distance to Woodfield Mall. Steve Kling, Jason Simon and Tom Gorman of Colliers International worked on behalf of the unnamed seller.

September 20, 2016

Illinois Midwest Office

Morgan/Harbour Completes Office Renovation for Cour Pharma in Northbrook

by Haisten Willis September 20, 2016

NORTHBROOK, ILL. — Morgan/Harbour Construction has completed an office renovation for Cour Pharma Development Co. Inc. at 2215 Sanders Road in Northbrook. Founded in 2012, Cour Pharma is a nanobiotechnology company that focuses on the development of novel immune therapies. Morgan/Harbour was hired to complete a 4,400-square-foot build-out for Cour Pharma’s space within CVS Health Towers. The interior build-out consisted of the addition of two glass conference rooms and an open office layout for the break area. Morgan/Harbour’s construction team included Joe Zosky as project executive and Erick Hodorowicz as project manager and superintendent. JDJ Architects provided the architectural services for the design.

September 20, 2016

Illinois Midwest Multifamily

CBRE Negotiates Sale of 144-Unit Multifamily Property for $42M in Des Plaines, Ill.

by Haisten Willis September 20, 2016

DES PLAINES, ILL. — CBRE represented the owners of Kingston Pointe in the $42 million sale of a 144-unit multifamily property located at 1646 River St. in Des Plaines. San Francisco-based Friedkin Realty Group was the buyer. Kingston Pointe, located in downtown Des Plaines, includes one-, two- and three-bedroom units featuring floor-to-ceiling windows, stainless steel appliances, granite countertops and in-unit washer/dryers. Amenities include a fitness center, swimming pool, on-site management and heated garage parking. John Jaeger and Dan Cohen of CBRE represented ownership in the sale.

September 20, 2016

Illinois Midwest Multifamily Seniors Housing

Caddis Begins Construction on Seniors Housing Community Near Chicago

by Haisten Willis September 19, 2016

ORLAND PARK, ILL. — Caddis and Pathway Senior Living have begun construction on Heartis Village Orland Park, a seniors housing community in Orland Park, 26 miles southwest of Chicago. The 94-unit, 89,950-square-foot assisted living and memory care community will be located at 159th Street and Harlem Avenue. A Caddis affiliate will own the community, and Pathway Senior Living LLC will be the operator. Amenities will include fitness classes, excursions, games, movies, fishing, boating and horseback riding. The community will feature a salon and spa, two interior courtyards, a private dining room, arts and crafts room, media room, 24-hour emergency call system, laundry services and personal transportation. Heartis Village Orland Park will be complete in fall 2017. Austin, Texas-based Katus LLC is the architect for the project, and McShane Construction Co. is the general contractor.

September 19, 2016

Healthcare Illinois Midwest

University of Chicago Medicine Breaks Ground on $43M Emergency Department

by John Nelson September 16, 2016

CHICAGO — The University of Chicago Medicine has broken ground on a $43 million emergency department on Chicago’s South Side. Expected to open in early 2018, the new department will house four trauma bays, according to the Chicago Tribune. The Illinois Health Facilities and Services Review Board unanimously approved UChicago Medicine’s plans for the project in May. The new emergency department is part of a $269 million program to provide the South Side with access to emergency, adult trauma and specialty care. The expansion will add 188 inpatient beds and create more than 1,000 permanent jobs.

September 16, 2016

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