Illinois

Brookdale Plans $4M Renovation for Two Seniors Housing Communities Near Chicago

by Christina Cannon May 18, 2016

PROSPECT HEIGHTS AND BURR RIDGE, ILL. — Brookdale Senior Living will undertake a $4 million memory care conversion at its communities in the Chicago suburbs of Prospect Heights and Burr Ridge. The projects are part of a capital investment and community management joint venture between Brookdale and HCP, a large healthcare REIT. At both Brookdale Prospect Heights and Brookdale Burr Ridge, 26 existing assisted living apartments will be converted to memory care. Both communities offer skilled nursing in addition to the assisted living and memory care options.

May 18, 2016

Illinois Industrial Midwest

Molto Properties Acquires Infill Site in Metro Chicago for Future Development of 136,650 SF Industrial Property

by Christina Cannon May 16, 2016

NILES, ILL. — Molto Properties has acquired an industrial property in Niles, approximately 15 miles northwest of Chicago, for an undisclosed price. The facility, located at 7720 Lehigh Ave., is situated on eight acres and was built in 1954. MFRI Inc. was the seller. Molto plans to redevelop the existing site into a 136,650-square-foot, Class A distribution center. The property will feature 32-foot clear heights, 150 car parking spaces and 20 dock doors. The redevelopment is slated for completion by the end of the year.

May 16, 2016

Illinois Industrial Midwest

Brown Commercial Negotiates Sale of Two Industrial Buildings Totaling 96,330 SF in Chicago

by Christina Cannon May 16, 2016

CHICAGO — Brown Commercial Group has brokered the sale of two industrial meat processing facilities totaling 96,330 square feet in Chicago. Bobak Sausage Co., a global manufacturer and distributer of old-world sausages and deli meat, sold the properties for an undisclosed price. The deal includes a 43,382-square-foot building at 5275 S. Archer Ave. and a 52,948-square-foot building at 4630 W. 53rd St. El Cubano Wholesale Meat Inc., a meat packer and distributor that provides meats to restaurants and grocery stores, is the buyer. Dan Brown, Brian Lindgren and Maria McNeil of Brown Commercial represented the seller in the transaction. Ed Wabick, Jimena Sayavedra and Terry Lynch of Paine/Wetzel TCN Worldwide represented the buyer.

May 16, 2016

Illinois Midwest Mixed-Use

Essex Realty Brokers $2.7M Sale of Mixed-Use Property in Chicago

by Christina Cannon May 16, 2016

CHICAGO — Essex Realty Group Inc. has brokered the $2.7 million sale of a mixed-use building in Chicago’s Sheridan Park neighborhood. The buyer and seller in the transaction were undisclosed. The building, located at 4401 N. Clark St., is comprised of 12 apartment units and two street-level retail spaces. The units are a mixture of two- and three-bedroom units. Jim Darrow, Jordan Gottlieb, Doug Imber and Kate Varde of Essex brokered the transaction.

May 16, 2016

Illinois Industrial Midwest

Batory Foods to Buy 678,000 SF Build-to-Suit Industrial Building in Illinois

by Christina Cannon May 13, 2016

WILMINGTON, ILL. — Batory Foods will purchase a 678,000-square-foot industrial property at RidgePort Logistics Center in Wilmington, approximately 60 miles southwest of Chicago, for an undisclosed price. The building is a build-to-suit for Batory Foods and will be situated on 36 acres with the ability to expand an additional 22 acres. Construction on the distribution facility will begin this month, and Batory Foods is expected to begin occupying the space this October. The facility will feature an automatic gate system, an employee walking track and other outdoor amenities. Harris Architects Inc. is providing the architectural services, and Alston Construction is the general contractor. Ridge Development is the project developer. Newmark Grubb Knight Frank (NGKF) represented Batory Foods in the transaction.

May 13, 2016

Illinois Midwest Office

U.S. Cellular Signs 119,369 SF Lease for Additional Space at Chicago Office Complex

by Christina Cannon May 13, 2016

CHICAGO — U.S. Cellular Corp. has extended and expanded its headquarters lease at the U.S. Cellular Plaza and now occupies 331,797 square feet of space. U.S. Cellular Corp. is the building’s largest tenant. FCA Partners LLC owns the building, which is located at 8410-8420 Bryn Mawr Ave. Constructed in 1981, U.S. Cellular Plaza is a three-building, 637,484-square-foot Class A office complex. U.S. Cellular signed its original lease in 1988 for just under 10,000 square feet. U.S. Cellular continues to occupy the entire 212,428-square-foot 8410 building and will now be expanding into an additional 119,369 square feet in the 8420 building on a long-term basis. Francis Prock and Jason Simon of Colliers International represented the landlord in the transaction.

May 13, 2016

Illinois Midwest Office

Turtle Wax Leases 25,115 SF in Metro Chicago Office Building for World Headquarters

by Christina Cannon May 13, 2016

ADDISON, ILL. — Turtle Wax Inc. will relocate its world headquarters from Willowbrook, Ill. to a 25,115-square-foot space in Addison, approximately 23 miles west of Chicago. Turtle Wax, a manufacturer of car care products, will occupy space at Meadows Office Center II, a two-story, 101,000-square-foot office building. The lease brings the facility, located at 2250 Pinehurst Blvd., to 70 percent occupancy. The asset is owned by a joint venture comprised of ACG Equities, Toft Asset Management and an undisclosed private investment fund. Daniel Nack of Cushman & Wakefield represented Turtle Wax in the transaction. Mark Smith and Bill Saviski of CBRE represented the landlord.

May 13, 2016

Healthcare Illinois Loans Midwest

FM Capital Acquires $5.7M Loan Secured by Medical Office Property in Chicago Suburb

by Christina Cannon May 12, 2016

DOWNERS GROVE, ILL. — FM Capital has acquired a $5.7 million non-performing loan that is secured by a 37,780-square-foot medical property in Downers Grove, approximately 22 miles west of Chicago. The loan went into default when the borrower failed to make payments last summer. The Greenbriar Medical Office Building was constructed in 1972 and renovated in 2006. The property also includes a 125-space parking lot, conference facility and recently renovated common area. The property is currently 70 percent vacant.

May 12, 2016

Illinois Midwest Office

SVN | Chicago Commercial Arranges 15,166 SF Lease in Downtown Chicago for Chicago Association of Realtors

by Christina Cannon May 12, 2016

CHICAGO — SVN | Chicago Commercial has arranged a 15,166-square-foot lease for Chicago Association of Realtors (CAR) in downtown Chicago. CAR has signed a 10-year lease for the entire eighth floor of The Realtor Building, which is owned by the National Association of Realtors. The space, located at 430 N. Michigan Ave. will serve as CAR’s headquarters. Wayne Caplan, Deena Zimmerman and Scott Maesel of SVN | Chicago Commercial represented the tenant in the transaction. Dean Kutrumanes of GNP Realty Partners represented the landlord. CAR is expected to begin occupying the space this December.

May 12, 2016

Illinois Midwest Multifamily

600-Unit North Harbor Tower in Chicago Changes Hands

by Christina Cannon May 11, 2016

CHICAGO — 175 Harbor Drive LLC has acquired North Harbor Tower, a 600-unit high-rise apartment building in Chicago’s Lakeshore East neighborhood, for an undisclosed price. The building is located within a 28-acre master-planned community at 175 N. Harbor Drive. Amenities at North Harbor Tower include an outdoor sundeck, indoor pool, 24-hour fitness facility, fitness studio with complimentary classes and party room. A multi-million dollar renovation of the 55-story property is scheduled to begin later this year. The tower offers a mix of studio, convertible, one-, two- and three-bedroom units. The seller in the transaction was undisclosed.

May 11, 2016

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