Illinois

Boulder Group Brokers $5.3M Sale of Net Leased Hospice in Naperville, Ill.

by Jonathan Mehall August 25, 2015

NAPERVILLE, ILL. — The Boulder Group has brokered the $5.3 million sale of Seasons Hospice Inpatient Center, located at 2195 West Diehl Road in Naperville. The 10,342-square-foot hospice has eight years left on its lease before it expires in January 2023. The lease features annual rental escalations and no landlord responsibilities. As a result of the aging population in the United States, the hospice industry is poised for future growth, according to the Boulder Group. By 2030, 20 percent of all Americans will be age 65 or older. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private real estate corporation, and the buyer, a California-based 1031 exchange investor, in the transaction.

August 25, 2015

Illinois Industrial Midwest

Darwin Realty Arranges Sale of 48,663 SF Industrial Building in Glendale Heights, Ill.

by Jonathan Mehall August 25, 2015

GLENDALE HEIGHTS, ILL. — Darwin Realty has arranged the sale of a 48,663-square-foot industrial building, located at 999 Regency Drive in Glendale Heights, for an undisclosed price. The facility is situated on 4.8 acres of land within the High Grove East Business Park in DuPage County. Property features include 9,000 square feet of office space, 18-foot clear ceiling heights, one interior truck dock, one drive-in door and 80 parking spaces. Richard G. Daly of Darwin Realty represented the buyer, Robert Weisheit Co., which acquired the property for the expansion and relocation of its manufacturing business. Jeff Fischer, Joe Bronson, and Howard Bergdoll of NAI Hiffman represented the seller, LaVezzi Precision Inc.

August 25, 2015

Civic Illinois Midwest

J.C. Anderson to Complete 14,000 SF Renovation of DePaul Education Buildings

by Jonathan Mehall August 24, 2015

CHICAGO — DePaul University has selected J.C. Anderson Inc. to complete a 14,000-square-foot build-out to DePaul’s Richard M. and Maggie C. Daley College of Communication and School for New Learning on the Loop Campus. The property is located at 247 S. State St. in Chicago. DePaul acquired the property in 2008. Renovations will include the addition of a theater, editing rooms, classrooms and office space to accommodate the College of Computing and Digital Media. Construction is scheduled for completion in September. Steve Boulukos and Joe Maguire will lead the construction team for J.C. Anderson Inc. Vasilko & Architects Associates will provide architectural services.

August 24, 2015

Illinois Midwest Office

Essex Brokers Sale of 15,900 SF Office Building for $2.8M in Chicago

by Jonathan Mehall August 24, 2015

CHICAGO — Essex Realty Group Inc. has brokered the $2.8 million sale of a 15,900-square-foot office building located at 617 W. Fulton St. in Chicago. The property is situated on the south side of Fulton Street, between Desplaines Street and Jefferson Street, and located less than one quarter-mile from the CTA Clinton station on the Green Line and one-half mile from the CTA Grand station on the Blue Line. Matt Welke and Jason Fishleder of Essex Realty Group Inc. represented the buyer, Fulton & Ogden LLC, and seller, MG Fulton Partners LLC, in the transaction.

August 24, 2015

Illinois Loans Midwest Office

Philipsborn Arranges $4M Refinancing for Office Property in Deerfield, Ill.

by Jonathan Mehall August 21, 2015

DEERFIELD, ILL. — The Philipsborn Co. has arranged $4 million in first mortgage financing for an 81,550-square-foot, multi-tenant office building located at 707 Lake Cook Road in Deerfield, a northern suburb of Chicago. Ameritas Investment Partners provided the 21-year, fixed-rate, self-amortizing refinancing loan. Constructed in 1979, the three-story office building is located in the north village’s corporate business corridor and is currently 80 percent leased. David Kubert of Philipsborn represented the lender and the borrower, an Illinois-based limited liability company.

August 21, 2015

Illinois Midwest Mixed-Use

Nordic Realty Partners Closes on Purchase of Three-Story, Mixed-Use Property in Chicago

by Jonathan Mehall August 20, 2015

CHICAGO — Nordic Realty Partners LLC has closed on the acquisition of a three-story mixed-use property located at 3824 N. Clark St. in Chicago’s Wrigleyville neighborhood. Nordic Realty Partners originally purchased the property for an undisclosed price. Properties in the Wrigleyville area are becoming more attractive and desirable due to the $575 million 1060 Project underway at Wrigley Field. 1060 Project is a four-year, four-phase renovation plan for Wrigley Field set forth by the Chicago Cubs management. Nordic Realty Partners LLC represented the undisclosed buyer and Beaulieu Real Estate represented the undisclosed seller.

August 20, 2015

Illinois Midwest Multifamily

Marcus & Millichap Brokers Sale of Apartment Building in Ottawa, Ill. for $1.8M

by Jonathan Mehall August 20, 2015

OTTAWA, ILL. — Marcus & Millichap has brokered the sale of a 48-unit apartment property for $1.8 million located at 600-606 E. McKinley Rd. in Ottawa, approximately 80 miles south of Rockford, Ill. Willow Crossing Apartments features mostly two-bedroom units, with individual gas furnaces and water heaters for each unit. The property also includes a lot zoned for a third, 24-unit building. Jim Walsh represented the buyer and seller, both of which were individuals/personal trusts.

August 20, 2015

Illinois Industrial Midwest

Meridian Completes 306,448 SF Industrial Build-to-Suit Project in Niles, Ill.

by Jonathan Mehall August 19, 2015

NILES, ILL. — Meridian Design Build has completed construction on a 306,448-square-foot automated package sortation and distribution center in Niles, 15 miles northwest of Chicago, for an undisclosed delivery service company. Scannell Properties was the project developer. The new build-to-suit facility is located on a 34-acre redevelopment site at the southeast corner of Howard Street and Lehigh Avenue. A majority of the project involved the demolition of multiple parking lots and an existing 756,000-square-foot industrial building. The facility features 101 loading docks, 562 auto parking stalls, 236 interior van-loading positions and 249 exterior trailer stalls. Additional construction included a freestanding 5,180-square-foot vehicle maintenance garage and 2,400-square-foot gateway security building. Precept Design provided architectural and structural design services. Spaceco Inc. completed civil engineering work.

August 19, 2015

Illinois Midwest Office

Colliers Brokers Sale of 58,800 SF Office Property in Chicago for $11.2M

by Jonathan Mehall August 18, 2015

CHICAGO — Colliers International’s Chicago office has arranged the $11.2 million sale of a 58,000-square-foot office property located at 1900 W. Walnut in Chicago’s Fulton Market neighborhood. Mark IV Realty was the buyer. The one-story structure was originally designed as a multi-tenant building. The building features a fully air-conditioned office, ESFR sprinklers, one interior loading dock and two drive-in doors. 1900 West Walnut is the only 24-foot clear height, modern precast building in the fast growing West Loop and Fulton Market submarkets of Chicago, according to Colliers. The 1900 West Walnut building is located one mile west of Chicago’s central business district and a half-mile from Google’s new headquarters. Since its completion, the property has been 100 percent leased to Matthews International, a digital imaging studio. Michael Senner and Vern Schulz of Colliers International’s Chicago office represented the seller, Martin Capital Group.

August 18, 2015

Illinois Midwest Office

J.C. Anderson Undertakes 170,000 SF Office Renovation for Verizon in Rolling Meadows, Ill.

by Jonathan Mehall August 18, 2015

ROLLING MEADOWS, ILL. — General contractor J.C. Anderson Inc. will complete a 170,000-square-foot office renovation for Verizon Communications at 1701 E. Golf Road (Continental Towers) in Rolling Meadows. Headquartered in New York City, Verizon employs approximately 178,500 workers and maintains offices nationwide. The firm is relocating its office in Elgin, Ill., to Continental Towers. J.C. Anderson will complete the 170,000-square-foot build-out of new space, which will include the addition of offices on seven floors of the building; a call center with up to 305 positions per floor; as well as training rooms and conference rooms. The target date for completion is April 2016. William Burfeind and John Angelovich are leading the construction team for J.C. Anderson.

August 18, 2015

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