Tuesday, July 14, 2026
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Illinois

IllinoisMidwestRetail

Mid-America Brokers Sale of 66,066 SF Retail Center in Crystal Lake, Illinois

by Kristin Harlow

CRYSTAL LAKE, ILL. — Mid-America Real Estate Corp. has brokered the sale of a portion of Bohl Farm Marketplace in Crystal Lake, a northwest suburb of Chicago. The sales price was not disclosed. Fresh Thyme Farmers Market, Planet Fitness and Party Center anchor the 66,066-square-foot portion that was sold. The center is located near the northwest corner of Northwest Highway and Pingree Road. Ben Wineman and Carly Gallagher were the exclusive brokers in the transaction on behalf of the seller, Berengaria Development.

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IllinoisMidwestRetail

Thor Equities Closes $44.2M Sale of 12,000 SF Retail Building in Chicago

by Kristin Harlow

CHICAGO — Thor Equities has closed on the sale of 26-34 S. State St. in Chicago for $44.2 million. The retail space is home to the first dedicated Jordan Brand store, which opened in October 2015. Thor leased approximately 12,000 square feet of retail space to the athletic apparel store in 2014. The two-level location sells sneakers and apparel, and features a basketball gym and consumer lounge. The buyer was not disclosed. Michael Marks of Cushman & Wakefield brokered the transaction.

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IllinoisMidwestRetail

The Boulder Group Arranges $2.1M Sale of Property Net Leased to US Bank in Lockport, Illinois

by Kristin Harlow

LOCKPORT, ILL. — The Boulder Group has arranged the sale of a single-tenant property net leased to US Bank in Lockport, 30 miles southwest of Chicago, for $2.1 million. The building is located at 1103 East 9th St. near Lewis University. The triple net lease entered into by US Bank expires in July 2026 and features annual rental escalations of 2.5 percent and three five-year renewal option periods. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, an institutional investment firm. A high net worth individual was the buyer.

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IllinoisMidwestRetail

Quantum Brokers $4.5M Sale of 42,588 SF Retail Center in Palatine, Illinois

by Kristin Harlow

PALATINE, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 42,588-square-foot retail center in Palatine, a northwestern suburb of Chicago, for $4.5 million. The multi-tenant center is located at 801-861 N. Quentin Road., and includes tenants such as Anytime Fitness, Papa John’s Pizza and H&R Block. A commercial real estate fund based in Denver was the buyer. Chad Firsel of Quantum Real Estate Advisors represented the seller, a Chicago-based investment group.

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IllinoisMidwestRestaurantRetail

Novak Construction Completes 9,000 SF Portillo’s Restaurant in Deerfield, Illinois

by Kristin Harlow

DEERFIELD, ILL. — Novak Construction has completed the construction of a 9,000-square-foot Portillo’s restaurant in Deerfield, approximately 25 miles north of Chicago. The building is located at 700 Lake Cook Road. Novak’s work on the development included the demolition of an existing building, new site utilities, curbs and asphalt paving. The restaurant opened on Tuesday, Nov. 15.

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IllinoisMidwestMultifamily

Berkadia Brokers $29.2M Sale of Multifamily Property in Chicago Suburb

by Kristin Harlow

LOMBARD, ILL. — Berkadia has brokered the sale of Westmore Apartments, a multifamily property in the Chicago suburb of Lombard, for $29.2 million. Built in 1968, the property is located at 1049 S. Westmore Ave. The 230-unit apartment building features one-, two- and three-bedroom units. Ralph DePasquale of Berkadia arranged the sale. A Chicago-based private seller sold the property. Axiom Westmore LLC was the buyer.

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IllinoisIndustrialMidwest

St. Clair County Breaks Ground on $8.1M River Bridge District Project in East St. Louis, Illinois

by Kristin Harlow

EAST ST. LOUIS, ILL. — St. Clair County has started construction on the $8.1 million River Bridge District project. The project is focused on transforming a key section of the East St. Louis Riverfront to draw industry and jobs. This is the final piece of highway infrastructure improvements already made by state and federal partners, including the relocation of Illinois Route 3. A comprehensive overhaul of Front Street from Trendley Avenue in East St. Louis to where the road ends in Fairmont City is planned, as well as improvements to connecting roadways.

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IllinoisIndustrialMidwest

Venture One Acquires 51,773 SF Industrial Building in Woodridge, Ill.

by Kristin Harlow

WOODBRIDGE, ILL. — Venture One Real Estate has acquired a 51,773-square-foot industrial building in Woodridge, a suburb of Chicago. The sales price was not disclosed. The building, located at 10321 Werch Dr., is 75 percent occupied. Venture One acquired the building through its acquisition fund, VK Industrial III LP, a partnership between Venture One and Kovitz Investment Group. Jim Estus of Colliers International represented the seller in the transaction.

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IllinoisLoansMidwestMultifamily

Square Mile Originates $15.2M Mezzanine Loan for Multifamily and Office Development in Chicago

by Kristin Harlow

CHICAGO — Square Mile Capital Management LLC has originated a $15.2 million mezzanine loan secured by a mixed-use project to be developed by Russland Capital Group-South Loop LLC. Located at 1411 S. Michigan Ave. in Chicago’s South Loop, the property will consist of a 15-story building comprising 199 apartment units and 43,148 square feet of commercial space upon completion. Rush University Medical Center will lease approximately 41,500 square feet of office space. Russland Capital Group has teamed up with LendLease and Boarman Kroos Vogel Group to develop the project. Michael Lavipour of Square Mile originated the loan.

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IllinoisIndustrialMidwest

Cushman & Wakefield Arranges Sale of 94,682 SF Industrial Facility in Bloomingdale, Illinois

by Kristin Harlow

BLOOMINGDALE, ILL. — Cushman & Wakefield has arranged the sale of a 94,682-square-foot industrial facility located at 221 Covington Dr. in Bloomingdale, a western suburb of Chicago. The sales price was not disclosed. University Beauty Products Inc. purchased the recently renovated facility, which is located near the company’s headquarters in Glendale Heights. The facility sits within the Covington Corporate Center business park and features 19,115 square feet of premium Class A office space, 25-foot clear heights and five enclosed truck docks. Eric Fischer, Keith Puritz and Brett Kroner of Cushman & Wakefield represented Universal Beauty Products in the transaction. Jeff Fischer and Adam Naparsteck of NAI Hiffman represented the seller, High Street Realty Company LLC.

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