Illinois

Podolsky|Circle CORFAC Brokers $3.2M Sale of Medical Office Building in Crystal Lake, Ill.

by John Nelson September 15, 2016

CRYSTAL LAKE, ILL. — Podolsky|Circle CORFAC International has brokered the $3.2 million sale of a single-tenant, net-leased medical office building in Crystal Lake. Known as Centegra Milestone Therapy Center, the 11,909-square-foot medical office building is located at 394 Federal Drive. The building was originally developed by the private owners of a physical therapy center, who then sold their practice to Centegra Health System. Kapadia and Sons Ltd. sold the asset to a Chicago-based private investment group. Alissa Adler, John Homsher and Paul Tesdal of Podolsky|Circle CORFAC represented Kapadia and Sons in the transaction.

September 15, 2016

Illinois Midwest Office

McShane Breaks Ground on 56,300 SF Office/Showroom for TRUMPF in Metro Chicago

by John Nelson September 14, 2016

HOFFMAN ESTATES, ILL. — McShane Construction Co. has broken ground on a 56,300-square-foot office and showroom property for TRUMPF, a German manufacturer of fabricating equipment and industrial lasers. The asset will be located on a five-acre site within the Huntington 90 business park in Hoffman Estates, a suburb of Chicago. Berlin-based architect Barkow Leibinger designed the asset, which will feature 30,250 square feet of office space, a 26,050-square-foot open showroom, central courtyard and parking for 50 vehicles. McShane Construction plans to deliver the building in the summer of 2017. Heitman Architects Inc. is serving as the architect of record for the project.

September 14, 2016

Illinois Industrial Midwest

Brennan Investment Group Acquires Seven-Building Industrial Park in Metro Chicago

by John Nelson September 14, 2016

LOMBARD, ILL. — Brennan Investment Group LLC has purchased the Woodlake Corporate Park located at 900 Parkview Blvd. in Lombard, roughly 21 miles west of Chicago. The seven-building, 262,697-square-foot is situated within Chicago’s East-West Tollway submarket. The 35-acre business park is in close proximity to I-355 and O’Hare International Airport. The sales price and seller were undisclosed.

September 14, 2016

fountain-square-commerce-center-bolingbrook-il

Illinois Industrial Midwest

Conor Commercial Delivers 70-Acre Industrial Business Park in Bolingbrook, Illinois

by Amy Works September 13, 2016

BOLINGBROOK, ILL. — Conor Commercial Real Estate, a member of The McShane Companies, has completed Fountain Square Commerce Center, a 70-acre industrial business park located at Remington Boulevard and S. Schmidt Road in Bolingbrook. Situated within the I-55 corridor, the park includes four speculative buildings ranging in size from 109,088 to 320,532 square feet. Each facility can support single- or multi-tenant configurations with space available from 40,000 square feet. Additionally, the park features ample on-site vehicle and truck parking, substantial dock door positions, efficient truck maneuverability, 32-foot clear heights, ESFR sprinkler systems, office space to suit individual tenants and a two-acre public park. The business park also includes a 12-acre site available for a fully customized build-to-suit construction accommodating up to 216,000 square feet. McShane Construction Co. and Ware Malcomb provided design/build construction services for the development.

September 13, 2016

Illinois Loans Midwest Multifamily Seniors Housing

Capital One Provides FHA Loans Totaling $10.3M to Refinance Two Illinois Skilled Nursing Facilities

by Amy Works September 12, 2016

ANNA AND CARBONDALE, ILL. — Capital One has provided two fixed-rate, HUD 232/223(f) loans totaling $10.3 million to refinance two skilled nursing facilities in Anna and Carbondale. Joshua Rose of Capital One originated the transaction for the borrower, a skilled nursing specialist with a portfolio of properties in Illinois and Indiana. The 70-bed facility, built in 1974, in Anna received a $5.9 million loan, while the 131-bed facility in Carbondale, which was built in 1965, received $4.4 million in financing.

September 12, 2016

Illinois Industrial Midwest

Flolo Corp. Acquires 42,411 SF Industrial Property in West Chicago

by Amy Works September 9, 2016

WEST CHICAGO, ILL. — Flolo Corp. has acquired an industrial property located at 1400 Harvester Road in West Chicago. The company purchased the property from Acts Four Thirty Two LLC for an undisclosed price. Flolo Corp. will relocate and consolidate from its current facilities at 1061 E. Green St. and 420 Podlin in Franklin Park, Ill., to the new 42,411-square-foot facility. The buyer is a multi-faceted electro-mechanical repair facility, power transmission distributor and custom system integration company. John Hamilton, Mike Sedjo and Jack Brennan of CBRE represented the buyer, while David Prell, also of CBRE, represented the seller in the deal.

September 9, 2016

Illinois Midwest Retail

L3 Corp. Arranges Four Retail Leases Totaling 32,391 SF in Illinois, Missouri

by Amy Works September 8, 2016

EAST ST. LOUIS AND EDWARDSVILLE, ILL., AND CREVE COEUR AND WASHINGTON, MO. — L3 Corp. has arranged four leases totaling 32,391 square feet of retail space in Illinois and Missouri. In East St. Louis, Menyoun Jordan d/b/a Balloons R Us leased 2,150 square feet of retail space at State Street Shopping Center. L3 Corp. represented the landlord, State Street Shopping Center LLC, in the deal. In Edwardsville, Ross Dress for Less inked a deal for 25,000 square feet of retail space at Dierbergs Edwardsville Crossing from GCE Outparcels LLC. L3 Corp. represented the tenant in the transaction. In the third deal, BARRESTL2 LLC d/b/a barre3 leased 2,241 square feet of space at Heritage Place in Creve Coeur from Ramco-Gershenson Properties LP. Kevin Shapiro of L3 Corp. represented the tenant. In the final transaction, Sterling Inc. d/b/a/ Kay Jewelers signed a deal for 3,000 square feet of space at Phoenix Center II in Washington from PC II Vertical LLC. L3 Corp. represented the tenant and landlord in the deal.

September 8, 2016

Illinois Industrial Midwest

Hillwood Acquires 84.6-Acre Site in Illinois to Develop 992,640 SF Distribution Center

by Amy Works September 7, 2016

JOILET, ILL. — Hillwood, a Perot company, has acquired an 84.8-acre land site in Joliet for an undisclosed price. The company plans to develop Joliet Logistics Park, a 992,640-square-foot distribution center, on the site. With easy access to I-80 and I-55 and close proximity to BNSF and Union Pacific intermodal operations, the new spec facility will feature 36-foot clear heights, a cross-dock configuration, an ESFR fire protection system, 116 trailer parking spaces with an additional 150 remote spaces, and up to 222 auto space with another 310 available for future expansion. The park, which will have the capacity to expand to 1.5 million square feet, is slated for completion in mid-2017. FCL Builders will serve as the general contractor, and Traci Payette and John Suerth of CBRE will be leasing agents for the project.

September 7, 2016

Illinois Midwest Multifamily

Millennium Properties Negotiates $1.3M Sale of Apartment Building in Chicago

by Amy Works September 6, 2016

CHICAGO — Millennium Properties R/E has arranged the sale of a six-flat apartment building located at 5532 S. Kimbark Ave. in Chicago’s Hyde Park neighborhood. Antheus Capital acquired the property for $1.3 million. The 7,050-square-foot building features six two-bedroom, two-bath units, each with large living spaces and eat-in kitchens. At the time of sale, the building was fully leased. The name seller was not released. Brad Thompson of Millennium Properties arranged the transaction.

September 6, 2016

Illinois Industrial Midwest

Gramercy Property Trust Acquires Two Industrial Facilities Near Chicago for $60.2M

by Christina Cannon September 2, 2016

MCCOOK AND HANOVER PARK, ILL. — Gramercy Property Trust has acquired two single-tenant industrial properties near Chicago for $60.2 million in separate transactions. In the first deal, Gramercy purchased a 147,923-square-foot, temperature-controlled facility in McCook, approximately 15 miles west of Chicago. The building, constructed in 2012, is leased to a global supplier for the food service industry. Gramercy also acquired a 238,423-square-foot distribution center in Hanover Park, approximately 35 miles west of Chicago. An international provider of information technology hardware, software and service solutions occupies the building, and the two tenants have a weighted average remaining lease term of 17.2 years. The sellers in the transactions were undisclosed.

September 2, 2016

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