Illinois

Morgan/Harbour Construction to Complete Renovation of Two Industrial Buildings in Chicago Suburb

by Christina Cannon March 4, 2016

ELK GROVE VILLAGE, ILL. — Morgan/Harbour Construction will complete two projects within the O’Hare Logistics Center on behalf of DCT. Morgan/Harbour will build out a warehouse facility at 2200 Arthur Ave. McNichols Co. will occupy the entire 112,862-sqaure-foot building, which is situated on 6.8 acres. The cross-docked facility features 32-foot clear heights, 38 exterior dock positions and 40 trailer stalls. The build-out will include the addition of 12,167 square feet of office space, a new interior truck dock, an exterior drive-in ramp, an ADA customer service entry, three bridge cranes and equipment power distribution. The renovation is scheduled for completion in May. Morgan/Harbour will also redevelop a neighboring property, 2201 Arthur Road. The redevelopment of the 108,931-square-foot industrial warehouse will include the demolition of the interior offices and the exterior façade, replacement of office windows and the installation of a new metal panel exterior wall system. Morgan/Harbour will also demolish the eastern exterior wall of the warehouse to add 10 exterior truck docks, completely overhaul the electrical service and add a new ADA-compliant entrance. A new parking area will also be constructed and will accommodate 49 cars and 21 trailers. Construction is slated for completion this summer. Harris Architects is …

March 4, 2016

Illinois Midwest Retail

Barnett Capital Sells Chicago Retail Property for $5.7M

by Christina Cannon March 4, 2016

CHICAGO — Barnett Capital has sold a 90,490-square-foot retail property to 3115 Properties for $5.7 million. The building is located at 3115-23 N. Broadway in Chicago. Located in the Lakeview neighborhood, the five-story building features tenants such as Intelligentsia Coffee & Tea, The Apartment People and Contacts & Specs. The property also contains a five-story parking garage. Keely Polczynski of CBRE represented Barnett Capital, and Danny Spitz of Baum Realty represented 3115 Properties LLC.

March 4, 2016

Illinois Loans Midwest Multifamily

American Street Capital Arranges $4M in Financing for 81-Unit Multifamily Property in Chicago Suburb

by Christina Cannon March 4, 2016

OAK LAWN, ILL. — American Street Capital has arranged a $4 million acquisition loan for an 81-unit apartment property in Oak Lawn, approximately 16 miles southwest of Chicago. The three-building property, Oak Lawn Gardens, was constructed in 1963 and is 97 percent occupied. The asset features on-site laundry facilities and 67 parking spaces. The non-recourse loan features a 10-year fixed rate and 25-year amortization schedule. The financing was placed with a CMBS lender. Igor Zhizhin of American Street Capital arranged the financing.

March 4, 2016

Illinois Loans Midwest Multifamily Seniors Housing

Ziegler Arranges $56.3M in Bond Financing for Nonprofit CCRC near Chicago

by Christina Cannon March 2, 2016

LA GRANGE PARK, Ill. — Ziegler, a specialty investment bank, has closed $56.3 million in fixed-rate bonds for Plymouth Place Senior Living, a 360-unit continuing care retirement community in La Grange Park, approximately 15 miles southwest of Chicago. Plymouth Place is a nonprofit community established by United Church of Christ in 1939 and is situated on 18.6 acres. The community includes 182 independent living apartments, 14 independent living cottages, 52 assisted living apartments, 26 memory care apartments and 86 skilled nursing beds. Providence Management and Development Co. operates the skilled nursing portion of Plymouth Place. Proceeds from the bonds will pay for $2.3 million in capital improvements, pay for $52.8 million in outstanding 2005 bonds, establish a debt reserve fund and pay for issuance expenses. The 2005 bonds were used to redevelop the main building and demolish the prior main building.

March 2, 2016

Illinois Midwest Office

J.C. Anderson to Complete 20,000 SF Office Expansion, Renovation in Chicago

by Christina Cannon March 2, 2016

CHICAGO — J.C. Anderson will construct a 20,000-square-foot office expansion and renovation of a property in Chicago. West Monroe Partners occupies space at The Franklin, a two-building office property in Chicago’s West Loop. The business and technology consulting firm is set to move into the new space once it is completed this June. The Franklin, located at 222 W. Adams St. and 227 W. Monroe St., was designed by Skidmore, Owing & Merrill. The office building that houses West Monroe Partners, 227 W. Monroe St., was constructed in 1989 and is 60 stories. The building has 2.5 million square feet of rentable space. Amenities at The Franklin include an atrium lounge and a 10,000-square-foot fitness center. Garnett is providing architectural services for the expansion and renovation.

March 2, 2016

Illinois Midwest Retail

Adelphia Properties Arranges 6,900 SF Retail Lease in Chicago Suburb

by Christina Cannon March 2, 2016

HIGHLAND PARK, ILL. — Adelphia Properties has arranged a 6,900-square-foot retail lease in Highland Park, approximately 26 miles northwest of Chicago. Summer Classics Home Furniture, a premier luxury home gallery, will occupy space at Renaissance Place, which is located at 1850 2nd St. Simeon Spirrison of Adelphia Properties represented the tenant in the transaction. Steven Baer of Metro Commercial Real Estate represented the landlord, a private Seattle-based group.

March 2, 2016

Healthcare Illinois Midwest

Duke Realty to Develop 80,000 SF Medical Office Building in Illinois

by Christina Cannon March 1, 2016

VILLAGE OF HUNTLEY, ILL. — Duke Realty will develop an 80,000-square-foot medical office building in the Village of Huntley, approximately 50 miles northwest of Chicago. The four-story building will be located on the Centegra Health campus. The facility is slated for completion in February 2017 and will connect to the 360,000-square-foot Centegra Hospital-Huntley, which has a completion date of August 2016. The medical office building will also connect to an existing 56,000-square-foot ambulatory care center. Tenants that have already signed leases at the building include Rosalind Franklin University of Medicine and Science, which will occupy 30,000 square feet and Northern Illinois Medical Center, which will occupy 20,000 square feet. Chicago-based Power Construction is the general contractor for the project, and Kahler Slater is the architect. St. Charles, Ill.-based O’Donnell Commercial Real Estate is managing leasing for the facility.

March 1, 2016

Illinois Midwest Office

Alex Brown Realty, Ameritus Acquire 150,815 SF Office Property in Chicago

by Christina Cannon March 1, 2016

CHICAGO — A joint venture organized by Alex Brown Realty Inc. and Ameritus LLC has acquired a 150,815-square-foot office building in the medical district of Chicago for an undisclosed price. The Hasting Center was constructed in 1942 and is currently 90 percent occupied. The building is the office component of a larger industrial facility. The four-story building features loft office elements such as 15-foot ceilings, exposed ductwork, open floor plates and 10-foot windows. The joint venture plans to renovate the entrance, lobby and parking ratio.

March 1, 2016

Illinois Midwest Restaurant Retail

Urban Innovation to Construct 11,000 SF Brewery in Chicago Suburb

by Christina Cannon March 1, 2016

GLENVIEW, ILL. — Urban Innovations will construct a new brewery and taproom for Ten Ninety Beer Co. in Glenview, approximately 19 miles northwest of Chicago. The 11,000-square-foot building, located at 1025 Waukegan Road, will consist of an 89-seat taproom, patio and production space for 5,000 barrels. Glenview-based Lindsay Associates Architects will provide design services.

March 1, 2016

Illinois Industrial Midwest

Ridge Development Unveils Plans for 271,200 SF Industrial Facility in Bartlett, Illinois

by Christina Cannon February 29, 2016

BARTLETT, ILL. — Ridge Development, the industrial development arm of Transwestern Development Co., has unveiled plans to develop a 271,200-square-foot speculative warehouse building in the Brewster Creek Business Park in Bartlett, approximately 35 miles northwest of Chicago. The 14-acre project, called Ridge Brewster Creek, will be owned by a joint venture between Ridge Development and Diamond Realty Investments Inc., the real estate investment arm of Mitsubishi Corp. Groundbreaking for the building is scheduled for March 2016 with delivery expected in September 2016. Located at 1331 – 1337 Schiferl Road, Ridge Brewster Creek will feature 32-foot clear heights, 36 exterior docks, four drive-in doors and ample automobile parking. Brewster Creek Business Park, a mixed-use business park on 670 acres, is located at the intersection of County Road 29 and Munger Road. Triumph Construction Services Corp. will serve as the project’s general contractor, and Harris Architects Inc. will provide architectural services. Eriksson Engineering Associate Ltd. will provide civil engineering services.

February 29, 2016

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