Illinois

Midwest Industrial Funds Acquires 246,000 SF Industrial Building in Chicago Suburb

by Christina Cannon January 22, 2016

ELGIN, ILL. — An entity affiliated with the Midwest Industrial Funds has acquired a vacant 246,000-square-foot facility in Elgin, approximately 40 miles west of Chicago, for an undisclosed price. The building, located at 1600 Fleetwood Drive, is situated on 22 acres and features 26-foot clear heights, 10 docks and 22,000 square feet of office space. Stamar Packaging recently agreed to lease 187,000 square feet of the facility and is relocating its headquarters and warehouse from Addison. Frank Griffin and Dominick Carbonari of JLL represented the seller, a division of Philips Lighting, in the transaction. Michael Androwich Jr. of Lee & Associates represented Stamar Packaging.

January 22, 2016

Illinois Industrial Midwest

CenterPoint Properties Sells 174,400 SF Industrial Facility in West Chicago

by Christina Cannon January 22, 2016

WEST CHICAGO, IIL. — CenterPoint Properties has sold a 174,400-square-foot industrial property in West Chicago to Simpson Manufacturing Co. for an undisclosed price. The facility, located at 2505 Enterprise Circle, features 48,776 square feet of office space, 28 exterior docks, two drive-in doors and 401 car parking spots. Simpson Manufacturing plans to renovate and expand the building. Britt Casey of Cushman & Wakefield represented CenterPoint in the transaction. David Prell, Cal Payne and Tyson Vallenari of CBRE represented Simpson Manufacturing.

January 22, 2016

Illinois Midwest Mixed-Use

Marcus & Millichap Brokers $9.5M Sale of Mixed-Use Building in Chicago

by Christina Cannon January 21, 2016

CHICAGO — Marcus & Millichap has brokered the sale of a mixed-use loft building in the River North neighborhood of Chicago for $9.5 million. The four-story building is anchored by Kinzie Chophouse Restaurant on the ground level, and the three top levels are utilized as offices. Baum Revision and Kaufman Jacobs purchased the building, satisfying a 1031 exchange trade requirement, from an undisclosed private investor. The 26,000-square-foot property, which is located at the northwest corner of Kinzie and Wells streets, is currently 95 percent occupied. Stephen Lieberman of Marcus & Millichap represented the seller in the transaction.

January 21, 2016

Illinois Industrial Midwest

Cushman & Wakefield Arranges 164,355 SF Industrial Lease in Chicago Suburb

by Christina Cannon January 21, 2016

BOLINGBROOK, ILL. — Cushman & Wakefield has arranged an industrial lease in Bolingbrook, approximately 33 miles southwest of Chicago. Menasha Packaging Co. LLC will occupy 164,355 square feet of warehouse space at 800 S. Weber Road. Menasha’s lease brings the 328,709-square-foot building to 100 percent occupancy. The building features 30-foot clear heights, 20 exterior truck docks, two drive-in doors, 1,200 amps of power, 90 car parking spaces and 30 trailer parking spaces. Jason West and Sean Henrick of Cushman & Wakefield represented the landlord in the transaction, ML Realty Partners LLC. Patrick McCaffrey of Avison Young represented Menasha Packaging.

January 21, 2016

Healthcare Illinois Midwest

The Missner Group to Complete Build-Out of Medical Office Property in Chicago Suburb

by Christina Cannon January 21, 2016

GLENVIEW, ILL. — The Missner Group will complete a build-out of a medical office property for the Illinois Bone & Joint Institute (IBJI) in Glenview, approximately 20 miles northwest of Chicago. IBJI’s OrthoAccess facility is located at 2401 Ravine Way and treats fractures, sprains, sports injuries and problems from minor auto accidents. New construction on the existing building will include the addition of an entire floor of exam rooms, nursing stations, three waiting areas, an updated reception area and an X-ray suite. The project is scheduled for completion in this spring. Stephen Rankin Associates is providing the architectural services.

January 21, 2016

Illinois Midwest Multifamily

High Street Residential, The Carlyle Group Sell 115-Unit Apartment Community in Chicago Suburb

by Christina Cannon January 20, 2016

PARK RIDGE, ILL. — A joint venture consisting of High Street Residential and The Carlyle Group has sold a 115-unit apartment community to L&B Realty Advisors LLC for an undisclosed price. Park 205 is a three-story, Class A apartment community located in Park Ridge, a northwestern suburb of Chicago. ESG Architects designed Park 205, which was completed in the last quarter of 2015. The project offers one-, two- and three-bedroom units. Amenities include a pool and sun deck, outdoor fire pits and cabanas, a clubroom, Wi-Fi coffee lounge, fitness center, business center, dog spa, bicycle storage and covered and heated parking. The community also has the LEED Silver designation. John Jaeger of CBRE represented the joint venture in the transaction.

January 20, 2016

Illinois Industrial Midwest

CBRE Brokers Sale of 174,400 SF Industrial Facility in West Chicago

by Christina Cannon January 19, 2016

WEST CHICAGO, ILL. — CBRE has brokered the purchase of a 174,400-square-foot industrial facility in West Chicago, approximately 35 miles west of downtown, for an undisclosed price. Simpson Manufacturing purchased the new facility from CenterPoint Properties. Simpson Manufacturing will relocate to the facility at 2505 Enterprise Drive from its current 50,000-square-foot space in Addison. David Prell, Tyson Vallenari and Cal Payne of CBRE represented the buyer in the transaction. Britt Casey of Cushman & Wakefield represented CenterPoint Properties.

January 19, 2016

Healthcare Illinois Midwest

Marcus & Millichap Brokers Sale of 48,225 SF Medical Property in Rockford, Illinois

by Christina Cannon January 19, 2016

ROCKFORD, ILL. — Marcus & Millichap has brokered the sale of a property net leased to OSF Healthcare | Cardiovascular Institute in Rockford. The 48,225-square-foot asset sold for an undisclosed price. A joint venture fund managed by MBRE Healthcare purchased the facility located at 444 Roxbury Road. The building, which was constructed in 2007, is fully leased to OSF HealthCare System. Gino Lollio and Scott Niedergang of Marcus & Millichap listed the property on behalf of the seller. The duo also procured the buyer.

January 19, 2016

Illinois Midwest Retail

Baceline Investments Acquires 15,464 SF Shopping Center in Chicago Suburb

by Christina Cannon January 19, 2016

LISLE, ILL. — Baceline Investments LLC has acquired a 15,464-square-foot retail property in Lisle, approximately 20 miles west of Chicago, for an undisclosed price. Century Plaza was built in 2002 and is located at 2801 Ogden Ave. The shopping center consists of 10 stores including Dunkin’ Donuts, Jimmy John’s and Domino’s. The seller in the transaction was undisclosed. Denver-based Baceline Investments is a privately held boutique real estate investment and management company that specializes in the acquisition, management and sale of necessity-based shopping centers in the Midwest.

January 19, 2016

Illinois Midwest Retail

Mid-America Brokers $18.2M Sale of Retail Property in Chicago Suburb

by Christina Cannon January 18, 2016

OAK BROOK, ILL. Mid-America Real Estate Corp. has brokered the sale of a 67,143-square-foot retail property in Oak Brook, approximately 20 miles west of Chicago. Newport Capital Partners acquired The Oaks of Oak Brook on behalf of Newport Fund II for $18.2 million. The retail property is located at the intersection of Kingery Highway and 16th Street and features tenants such as Panera Bread, Atheltico, Wells Fargo and Sleepy’s. Joe Girardi and Ben Wineman of Mid-America represented the seller in the transaction, a joint venture between DLC Management and Hutensky Capital Partners.

January 18, 2016

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