Illinois

Bradford Allen Arranges 7,700 SF Office Lease Renewal in Northbrook, Illinois

by Christina Cannon January 6, 2016

NORTHBROOK, ILL. — Bradford Allen Realty Services has arranged a 7,700-square-foot lease renewal in Northbrook, approximately 25 miles northwest of Chicago. Lubin-Bergman Organization Inc. will continue occupying its headquarters in a building located at 5 Revere Drive. One Northbrook Place is a Class A office building that features food service within the building and underground parking. Laurence Elbaum of Bradford Allen represented Lubin-Bergman in the transaction. Dan Fernitz of JLL represented the building’s ownership.

January 6, 2016

Illinois Industrial Midwest

Avison Young Arranges 51,624 SF Industrial Lease in Libertyville, Illinois

by Christina Cannon January 5, 2016

LIBERTYVILLE, ILL. — Avison Young has arranged a 51,624-square-foot long-term lease for an office and warehouse space in Libertyville, approximately 40 miles northwest of Chicago. All American Containers, a global packaging solutions company, will begin occupying space in the north portion of the building this spring. Bridge Development Partners developed the facility, located at 851 E. Park Ave. The two-building project, which totals 406,000 square feet, features 32-foot clear heights, flexible dock space and ample truck and car parking. Each building is divisible by 20,000 square feet and All American Containers’ lease includes 4,500 square feet of office space. Keith Puritz, Brett Kroner and Eric Fischer of Avison Young represented the tenant. Michael Fonda and John Hauser of Avison Young represented Bridge Development Partners.

January 5, 2016

Illinois Loans Midwest Retail

Associated Bank Provides $19.3M Loan for Construction of Mariano’s Grocery Store in Des Plaines, Ill.

by Christina Cannon January 4, 2016

DES PLAINES, ILL. — Associated Bank has completed a $19.3 million loan for the land acquisition and construction of a Mariano’s Fresh Market grocery store in Des Plaines, approximately 20 miles northwest of Chicago. Golf Road Ventures LLC, a joint venture of Abbott Land and Investment Corp. and WBS Equities, is the borrowing entity. When complete, the 73,317-square-foot store will be located at 10 E. Golf Road. Construction will begin this spring and completion is slated for the spring of 2017. Working with the Illinois Department of Transportation, Golf Road Ventures is funding over $1 million in improvements to the traffic intersection, including the addition of a turn lane and traffic signals. Working with the Des Plaines Park District, the developer is also contributing approximately $750,000 toward road, parking and field improvements for nearby Blackhawk Park.

January 4, 2016

Illinois Industrial Midwest

The Missner Group Acquires 78,000 SF Flex Property Near Chicago

by Christina Cannon January 4, 2016

NILES, ILL. — The Missner Group has acquired a 78,000-square-foot industrial warehouse with office space for $2.4 million in Niles, approximately 15 miles northwest of Chicago. After acquiring the building, The Missner Group signed Avery Dennison, a leader in labeling and packaging materials and solutions, to a lease of the entire building. The Missner Group purchased the two-story building located at 6565 W. Howard St. from The Feld Family LP. The property consists of 56,000 square feet of warehouse and manufacturing space and 22,000 square feet of office space. The asset is situated on 3.6 acres and features 20-foot clear heights, five exterior docks and one drive-in door. Ed Adler of The Missner Group led the acquisition for the firm. Jack Rosenberg, Fredrick Regnery and Ned Frank of Colliers International represented The Missner Group in the purchase of the property, as well as the lease to Avery Dennison, which was represented by Brendan Green of Colliers. The Colliers team also represented the building’s seller, who was undisclosed.

January 4, 2016

Illinois Midwest Ohio Retail

Phillips Edison Grocery Center REIT Buys Three Shopping Centers Throughout Ohio, Illinois

by Christina Cannon December 24, 2015

CINCINNATI — Cincinnati-based Phillips Edison Grocery Center REIT II Inc. has acquired three grocery-anchored shopping centers throughout Ohio and Illinois for an undisclosed price. Amherst Marketplace, anchored by Giant Eagle, is a 79,945-square-foot retail facility located in Amherst, Ohio, approximately 34 miles east of downtown Cleveland. Other tenants at the center include Get Go Gas, Monster Tan and Best Cuts. Sheffield Crossing is an 113,688-square-foot shopping center that is also anchored by Giant Eagle. The property is located in Sheffield Village, Ohio, approximately 25 miles east of downtown Cleveland. Tenants at Sheffield Crossing include Edward Jones, Great Clips, Weight Watchers and Verizon Wireless. The Shoppes at Windmill Place is located in Batavia, Ill., approximately 43 miles west of Chicago and is a 122,176-square-foot retail property. Jewel Osco anchors the center, and other tenants include Dunkin Donuts, Mattress Firm, Zano Salon, Hair Cuttery, Subway, Hallmark and GNC.

December 24, 2015

Illinois Industrial Midwest

Entre Commercial Completes 11,200 SF Industrial Lease in Chicago Suburb

by Christina Cannon December 24, 2015

ELK GROVE VILLAGE, ILL. — Entre Commercial Realty LLC has arranged an 11,200-square-foot industrial lease in Elk Grove Village, approximately 23 miles northwest of Chicago. The lease is for Peet’s Coffee & Tea, which will use the site at 1950 Devon Ave. as distribution space. The building totals 98,445 square feet and can accommodate multiple tenants. The facility is situated on 5.6 acres. The lease space features 18-foot clear heights, two shared docks and a private drive-in door. Dan Benassi, Dan Jones and Mike DeSerto of Entre represented the landlord, Bristol Group Inc. Joe Bronson of NAI Hiffman represented the tenant in the transaction.

December 24, 2015

Illinois Industrial Midwest Office

JLL Brokers Sale of 17,000 SF Flex Property North of Chicago

by Christina Cannon December 23, 2015

LAKE FOREST, ILL. — JLL has brokered the sale of a 17,000-square-foot industrial and office property in Lake Forest, approximately 30 miles north of Chicago. North American Herb and Spice Co. purchased the property from Rothbart LLC for an undisclosed price. Technique Engineering formerly occupied the space but will relocate to a 9,600-square-foot space at 968-972 Northpoint Blvd. in Waukegan. The property that North American Herb and Spice Co. purchased is located at 13950 Polo Drive and features 19-foot clear heights and 800 amps of power. Francesca DeAmicis of JLL represented the landlord, Rothbart LLC. North American Herb and Spice Co. was self-represented in the transaction, and Paine-Wetzel TCN Worldwide represented Technique Engineering.

December 23, 2015

Illinois Midwest Retail

Adelphia Properties Brokers $1.6M Sale of Retail Property in Palos Heights, Illinois

by Christina Cannon December 22, 2015

PALOS HEIGHTS, ILL. — Adelphia Properties has brokered the $1.6 million sale of a retail property located in Palos Heights, approximately 25 miles southwest of Chicago. The property is fully leased to tenants including Lou Malnati’s, Great Clips, Jersey Mike’s Subs and Forever Yogurt. The 5,545-square-foot retail center, located at 12801 S. Harlem Ave., was redeveloped in 2014. Simeon Spirrison of Adelphia Properties represented the buyer, a private non-1031 investor. The seller is also undisclosed.

December 22, 2015

Illinois Midwest Retail

CBRE Arranges Two Retail Leases Totaling 12,367 SF for The University of Illinois

by Christina Cannon December 22, 2015

CHICAGO — CBRE has arranged two retail leases in Chicago totaling 12,367 square feet. In the first deal, Windy City Restaurant Management LLC leased 4,928 square feet of space from The University of Illinois. The tenant plans to open a Bar Louie. The restaurant is located on Maxwell Street and will be the 14th Bar Louie location in Chicagoland. Randy Guse and Jessica Janes of Emerging Concepts represented Windy City in the transaction. In the second lease, OHM has leased 7,439 square feet from The University of Illinois to open two more restaurants — the Bracket Room and Good Stuff Eatery. Yolanda Valle represented the owner in both transactions.

December 22, 2015

Illinois Loans Midwest Multifamily

Pillar Originates Two Fannie Mae Loans Totaling $9.6M for Multifamily Properties in Chicago

by Christina Cannon December 21, 2015

CHICAGO — Pillar has originated two Fannie Mae loans totaling $9.6 million for two multifamily properties in Chicago. Lancelot Lie of Pillar orientated the fixed-rate loans, which both feature six-year terms. The borrowers are affiliates of BJB Partners. A $7.8 million loan was originated for a 220-unit property located at 2850 N. Sheridan Road, and a $1.8 million loan was originated for a 76-unit property located at 420 Surf St. Both properties were fully leased.

December 21, 2015

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