Illinois

Meridian Breaks Ground on Build-to-Suit in Metro Chicago

by Haisten Willis July 14, 2016

BARTLETT, ILL. — Meridian Design Build has broken ground on a 67,080-square-foot build-to-suit for Traffic Control & Protection on a 9.5-acre site within Abbott Land & Investment’s Blue Heron Business Park in Bartlett, Ill. Traffic Control & Protection provides traffic signs and other traffic control products. The new facility will include a 10,000-square-foot office/employee facility area, a 13,000-square-foot sign shop/silk screen area, a barricade shop and seven interior vehicle maintenance bays. Construction at the site is underway with occupancy scheduled for the fourth quarter of this year. Harris Architects has been retained by Traffic Control & Protection to provide architectural and structural design services. Mackie Consultants is providing civil design services for the project. Dan Flanagan of Flanagan Realty represented Traffic Control & Protection in the selection and acquisition of the site and coordinated overall planning and approval efforts for the project.

July 14, 2016

Illinois Industrial Midwest Office

Transwestern Represents Centor in 62,662 SF Headquarters Lease in Metro Chicago

by Haisten Willis July 14, 2016

AURORA, ILL. — Transwestern has represented Centor North America Inc. in a 62,662-square-foot headquarters lease at 966 Corporate Blvd., a 238,604-square-foot multi-tenant warehouse in Aurora, Ill. Centor, a manufacturer of integrated doors for residential homes as well as folding doors, hardware and screen/blind systems, plans to relocate to the new facility from its current headquarters in Batavia on Oct. 1. Michael Marconi, Justin Lerner and Joe Karmin of Transwestern represented the tenant in the transaction. Completed in 2015, 966 Corporate Blvd. is LEED-certified and includes 32-foot ceilings, seven exterior docks, one drive-in door and 41 trailer stalls. Centor will use tenant improvement funds secured by Transwestern to complete the build-out of its space, which includes a state-of-the-art showroom and corporate offices.

July 14, 2016

Illinois Loans Midwest Mixed-Use

Sonnenblick-Eichner Arranges $47.5M Loan for Historic Mixed-Use Building in Chicago’s Financial District

by Christina Cannon July 13, 2016

CHICAGO — Sonnenblick-Eichner Co. has arranged a $47.5 million loan to refinance the office and retail component of a 21-story building at 208 S. LaSalle St. in Chicago. The 1.1 million-square-foot, mixed-use building is located in the financial district. Michael Reschke of The Prime Group Inc. is the property owner. The loan is secured by five floors (13-17) of office space totaling 207,953 square feet and 11,379 square feet of street-level retail space, which is collectively 94 percent leased. The first 12 floors are occupied by a 610-room JW Marriott hotel. Neither the hotel nor the top four office floors were part of the collateral. The seven-year, non-recourse financing was funded by an affiliate of Guggenheim Commercial Real Estate Finance. The loan refinanced a $35 million mortgage that was a part of a $321 million facility Sonnenblick-Eichner Co. arranged for the ownership two years ago. The deal was comprised of four different loans and included first mortgage debt and mezzanine financing. The property, built in 1914 as the headquarters for the Continental and Commercial National Bank, was designed by Daniel Burnham and added to the National Register of Historic Places in 2007.

July 13, 2016

Illinois Midwest Office

Reed Construction to Complete 545,000 SF Headquarters Renovation Near Chicago

by Christina Cannon July 12, 2016

NORTHFIELD, ILL. — Reed Construction will complete a 545,000-square-foot renovation and build-out for Medline Industries Inc. in Northfield, approximately 20 miles northwest of Chicago. Medline, a global medical supply manufacturer and distributer, will relocate its headquarters to the facility, which was the former headquarters for Kraft Foods. Medline’s current headquarters in Mundelein, Ill., will stay open for the next several years. The renovation will include interior demolition and a rebuild of the existing space, followed by construction of new offices, meeting rooms, break areas and more. The construction is slated for completion this November. Partners by Design is providing architectural services, and MB Real Estate is representing the owner.

July 12, 2016

Illinois Midwest Multifamily Seniors Housing

Illinois St. Andrew Society Adds 20-Unit Memory Care Facility to Community Near Chicago

by Christina Cannon July 12, 2016

NORTH RIVERSIDE, ILL. — The Illinois St. Andrew Society has completed construction of The Caledonian House, a 20-unit memory care building in the Chicago suburb of North Riverside. The St. Andrew Society is the nonprofit operator of The Scottish Home assisted living and skilled nursing community. The Caledonian House is located on the community’s five-acre campus and will offer the first memory care services at the community.

July 12, 2016

Illinois Midwest Multifamily

Marcus & Millichap Brokers $1.6M Sale of Apartment Property in Downtown Chicago

by Christina Cannon July 12, 2016

CHICAGO — Marcus & Millichap has brokered the sale of a seven-unit apartment building in downtown Chicago for $1.6 million. A private owner sold the asset, which is located at 1953 N. Cleveland Ave., to Laramar Group. The property features hardwood floors, French doors, porches and a new water heater and boiler. Kyle Stengle and Joseph Bergman of Marcus & Millichap listed the property on behalf of the seller and procured the buyer.

July 12, 2016

Illinois Midwest

Cushman & Wakefield Negotiates 25,170 SF Lease for Montessori School in Chicago Suburb

by Christina Cannon July 11, 2016

NAPERVILLE, ILL. — Cushman & Wakefield has arranged a 25,170-square-foot lease for DuPage Montessori School in Naperville, approximately 35 miles southwest of Chicago. Calamos Investments owns a vacant office building that will be redeveloped into a Pre-K – 8th grade school complete with an outdoor playground and a turf sports field. Construction will start this summer and is slated for completion by the 2017-2018 school year. The building, located at 111 E. Warrenville Road, is situated on 1.9 acres. The school will occupy the first two floors of the 38,425-square-foot, three-story building, which was the former headquarters for Calamos Investments. Over 220 students are expected to enroll in the private, non-profit school next year. Adam McCostlin and Brian Duffy of Cushman & Wakefield represented the DuPage Montessori School in the transaction.

July 11, 2016

Illinois Industrial Loans Midwest Ohio

New York Life Provides $120M Loan for 15-Property Industrial Portfolio

by Christina Cannon July 8, 2016

CHICAGO AND CINCINNATI — New York Life Real Estate Investors has provided a $120 million mortgage loan secured by a 15-property industrial portfolio. The Class A buildings, which total 3.3 million square feet, are located in the Chicago, Cincinnati and Memphis metro areas. An affiliate of Industrial Property Trust Inc. is the borrower that received the eight-year, fixed-rate loan.

July 8, 2016

Illinois Industrial Midwest

Brennan Investment Group Acquires 443,103 SF Industrial Property in Sale-Leaseback Deal in Illinois

by Christina Cannon July 8, 2016

ELGIN, ILL. — In a sale-leaseback deal, The Packaging Wholesalers has sold its 443,103-square-foot industrial headquarters building in Elgin, approximately 40 miles northwest of Chicago, to Brennan Investment Group LLC for an undisclosed price. The property is located at 1717 Gifford Road. Adam Marshall and Mark Deady of Newmark Grubb Knight Frank represented Brennan Investment Group in the transaction. Brennan Investment Group is a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States.

July 8, 2016

Illinois Industrial Midwest Mixed-Use

Thor Equities Buys 16,000 SF Building in Chicago for $5.9M

by Christina Cannon July 8, 2016

CHICAGO — Thor Equities has acquired a 16,000-square-foot industrial building in Chicago’s Fulton Market neighborhood for $5.9 million. Columbus Meats, the seller, will occupy the building for the next three months, after which it will be converted to a retail and office building. Located at 942 W. Fulton Market, the four-level property is situated across the street for Google’s new Midwest headquarters and directly in front of a new ACE Hotel.

July 8, 2016

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