GRAYSLAKE, ILL. — Principle Construction Corp. is nearing completion on two new industrial buildings totaling 70,000 square feet in Grayslake, approximately 50 miles north of Chicago. The facilities will serve as an administrative, maintenance and shipping campus for SAIA LTL Truck Lines and will be located at 2260 S. Midlothian Road. The buildings will be ground-up construction situated on 33 acres. The first building will be a 51,000-square-foot structure that will include 100 truck docks, 16-foot clear heights and 9,560 square feet of office space. The second building will also feature 16-foot clear heights, 19,000 square feet of shop and maintenance space, a fueling facility, six trailer service bays, six tractor service bays and two wash bays. The 33-acre site will also include an automatic snow scraper, truck scale, and parking for 94 cars, 294 trailers, 34 tractors and 30 dollies. Principle broke ground earlier this year and expects construction to be completed in November. Ken Lattanzi of Principle is the project manager. Christian Architects is the project designer. Jim Kueck of Cushman & Wakefield is representing SAIA.
CHICAGO — Quantum Real Estate Advisors Inc. has arranged the sale of an 11,500-square-foot retail building in Chicago. The single-tenant property, located at 4441 W. Diversey Ave., sold for $1 million. The property is 100 percent leased to Unique Thrift Store, a subsidiary of Savers Inc., and is situated on slightly less than one-half acre. The seller was a family office based in the greater Chicago area. The buyer was a Chicago-based private real estate investor. Chad Firsel of Quantum was the sole broker in the transaction.
BUFFALO GROVE, ILL. — Avison Young has arranged a 141,000-square-foot lease for a business building in Buffalo Grove, a Chicago suburb. Plexus Corp. has signed a long-term lease renewal for the property located at 2400 Millbrook Drive. Plexus occupies the entire building. The building is located in the Millbrook Business Center, a 70-acre development. Amenities of the Millbrook Business Center include on-site management, ponds, a walking and jogging path and volleyball courts. Brett Kroner, Keith Puritz, Eric Fischer and Michael Scadron of Avison Yong represented the tenant. Bruce Hecktman of Avison Young represented the landlord, Millbrook Properties.
GLENVIEW, ILL. — Seneca Real Estate Group has arranged the lease of a two-story banquet facility in Glenview, a northwestern Chicago suburb. United Investors Inc. leased the 17,000-square-foot facility for five years to In Paris Inc. The property is located at 3315 N. Milwaukee Ave. The building was originally designed to resemble a scaled-down version of the old Chicago Stadium (an indoor arena that at one time was the home of the Chicago Blackhawks and Chicago Bulls before closing in 1994). The property consists of a multi-level ballroom with majestic ceilings, lighting and a 4,000-square-foot commercial kitchen. The banquet hall accommodates 700 guests and includes a 160-car parking lot. After some internal design work, In Paris will continue to operate the property as a banquet facility hosting weddings, parties and corporate events. Joe Padorr of Seneca represented the landlord in the transaction.
AURORA, ILL. — The Connor Group has acquired a 368-unit apartment community in Aurora, approximately 40 miles west of Chicago, from American Realty Advisors. The sales price was undisclosed. The Class A asset, located at 1840 Clubhouse Drive, was 96 percent occupied at the time of sale. Susan Lawson and Debbie Corson represented American Realty Advisors in the transaction.
WINNETKA, ILL. — SVN | Chicago Commercial has brokered the $1.5 million sale of a 7,800-square-foot retail building in downtown Winnetka, a northern Chicago suburb. Bertha Turner TN4 LLC sold the property, located at 563-571 Lincoln Ave., to Edgewood Real Estate Investment II LLC. Wayne Caplan of SVN | Chicago Commercial represented the seller and was the sole broker in the transaction. The building features six storefronts and includes tenants such as apparel retailers J. McLaughlin and Sara Campbell, a local real estate office and two local antique dealers. One storefront is currently vacant. This transaction is the first time the property has traded hands since its construction nearly 90 years ago.
NORTHBROOK, ILL. — Prime Finance has provided the owners of a 195,000-square-foot office building, located at 400 Skokie Blvd. in Northbrook, with a $19.5 million refinance loan arranged by Draper and Kramer. The ownership group, a partnership between Romanek Properties, Bachmann Associates and Syndicated Equities, will use $2.5 million of the loan proceeds to make building improvements. Upgrades will include a conference center, expanded fitness center and improvements to all common areas. The Class A office building is leased and managed by CBRE. Dan Graham and Peter Clifton of CBRE lead leasing efforts at the building. Bill Barry and Bill Stewart of Draper and Kramer arranged the financing for the owners.
ROSEMONT, ILL. — CBRE has brokered the sale of the 380,360-square-foot One O’Hare Center in Rosemont, a northwest Chicago suburb. A partnership between MDC Realty Advisors and Nicola Crosby acquired the property for $83 million. Paul Lundstedt and Dan Deuter of CBRE represented the ownership group in the transaction. The 12-story office building was built in 1986 and is currently 95 percent leased. The building houses 24 tenants including Reyes Holdings and Colliers International. Amenities of the office building include a fitness center, covered parking, on-site cafe and a shuttle service.
CHICAGO — American Street Capital has arranged a $2.3 million acquisition loan for a multifamily property in Chicago. The property consists of 85 units and 64,390 square feet of rentable space. The borrower was undisclosed. The non-recourse CMBS loan features a 10-year term and 30-year amortization. Igor Zhizhin of America Street Capital arranged the loan.
NAPERVILLE, ILL. — An affiliate of Equus Capital Partners Ltd. has acquired an office building located at 55 Shuman Blvd. in Naperville, a western suburb of Chicago, for an undisclosed price. The 205,282-square-foot MetroWest building was 92 percent occupied at the time of sale. Tenants include Wells Fargo, Dun & Bradstreet, Stanley Convergent Security Solutions and UPM Kymmene Inc. Paul Lundstedt, Dan Deuter, Tom Sitz and Cody Huntermark of CBRE represented the seller, a joint venture between Franklin Partners LLC and Bixby Bridge Capital LLC. The property was built in 1986 and is situated on 11.3 acres. The 10-story office building includes a front patio, outdoor putting green, fitness center, deli, conference room and 598 surface parking spaces. The acquisition was made on behalf of Equus Investment Partnership X LP.