Illinois

Batory Foods to Buy 678,000 SF Build-to-Suit Industrial Building in Illinois

by Christina Cannon May 13, 2016

WILMINGTON, ILL. — Batory Foods will purchase a 678,000-square-foot industrial property at RidgePort Logistics Center in Wilmington, approximately 60 miles southwest of Chicago, for an undisclosed price. The building is a build-to-suit for Batory Foods and will be situated on 36 acres with the ability to expand an additional 22 acres. Construction on the distribution facility will begin this month, and Batory Foods is expected to begin occupying the space this October. The facility will feature an automatic gate system, an employee walking track and other outdoor amenities. Harris Architects Inc. is providing the architectural services, and Alston Construction is the general contractor. Ridge Development is the project developer. Newmark Grubb Knight Frank (NGKF) represented Batory Foods in the transaction.

May 13, 2016

Illinois Midwest Office

U.S. Cellular Signs 119,369 SF Lease for Additional Space at Chicago Office Complex

by Christina Cannon May 13, 2016

CHICAGO — U.S. Cellular Corp. has extended and expanded its headquarters lease at the U.S. Cellular Plaza and now occupies 331,797 square feet of space. U.S. Cellular Corp. is the building’s largest tenant. FCA Partners LLC owns the building, which is located at 8410-8420 Bryn Mawr Ave. Constructed in 1981, U.S. Cellular Plaza is a three-building, 637,484-square-foot Class A office complex. U.S. Cellular signed its original lease in 1988 for just under 10,000 square feet. U.S. Cellular continues to occupy the entire 212,428-square-foot 8410 building and will now be expanding into an additional 119,369 square feet in the 8420 building on a long-term basis. Francis Prock and Jason Simon of Colliers International represented the landlord in the transaction.

May 13, 2016

Illinois Midwest Office

Turtle Wax Leases 25,115 SF in Metro Chicago Office Building for World Headquarters

by Christina Cannon May 13, 2016

ADDISON, ILL. — Turtle Wax Inc. will relocate its world headquarters from Willowbrook, Ill. to a 25,115-square-foot space in Addison, approximately 23 miles west of Chicago. Turtle Wax, a manufacturer of car care products, will occupy space at Meadows Office Center II, a two-story, 101,000-square-foot office building. The lease brings the facility, located at 2250 Pinehurst Blvd., to 70 percent occupancy. The asset is owned by a joint venture comprised of ACG Equities, Toft Asset Management and an undisclosed private investment fund. Daniel Nack of Cushman & Wakefield represented Turtle Wax in the transaction. Mark Smith and Bill Saviski of CBRE represented the landlord.

May 13, 2016

Healthcare Illinois Loans Midwest

FM Capital Acquires $5.7M Loan Secured by Medical Office Property in Chicago Suburb

by Christina Cannon May 12, 2016

DOWNERS GROVE, ILL. — FM Capital has acquired a $5.7 million non-performing loan that is secured by a 37,780-square-foot medical property in Downers Grove, approximately 22 miles west of Chicago. The loan went into default when the borrower failed to make payments last summer. The Greenbriar Medical Office Building was constructed in 1972 and renovated in 2006. The property also includes a 125-space parking lot, conference facility and recently renovated common area. The property is currently 70 percent vacant.

May 12, 2016

Illinois Midwest Office

SVN | Chicago Commercial Arranges 15,166 SF Lease in Downtown Chicago for Chicago Association of Realtors

by Christina Cannon May 12, 2016

CHICAGO — SVN | Chicago Commercial has arranged a 15,166-square-foot lease for Chicago Association of Realtors (CAR) in downtown Chicago. CAR has signed a 10-year lease for the entire eighth floor of The Realtor Building, which is owned by the National Association of Realtors. The space, located at 430 N. Michigan Ave. will serve as CAR’s headquarters. Wayne Caplan, Deena Zimmerman and Scott Maesel of SVN | Chicago Commercial represented the tenant in the transaction. Dean Kutrumanes of GNP Realty Partners represented the landlord. CAR is expected to begin occupying the space this December.

May 12, 2016

Illinois Midwest Multifamily

600-Unit North Harbor Tower in Chicago Changes Hands

by Christina Cannon May 11, 2016

CHICAGO — 175 Harbor Drive LLC has acquired North Harbor Tower, a 600-unit high-rise apartment building in Chicago’s Lakeshore East neighborhood, for an undisclosed price. The building is located within a 28-acre master-planned community at 175 N. Harbor Drive. Amenities at North Harbor Tower include an outdoor sundeck, indoor pool, 24-hour fitness facility, fitness studio with complimentary classes and party room. A multi-million dollar renovation of the 55-story property is scheduled to begin later this year. The tower offers a mix of studio, convertible, one-, two- and three-bedroom units. The seller in the transaction was undisclosed.

May 11, 2016

Illinois Industrial Midwest

CBRE Arranges Sale of 11-Acre Site for Future Industrial Development in Metro Chicago

by Christina Cannon May 11, 2016

BUFFALO GROVE, ILL. — CBRE has arranged the sale of an 11-acre parcel of land for future development in Buffalo Grove, approximately 33 miles northwest of Chicago. Ridgeline Property Group purchased the land for an undisclosed price. The developer plans to build a 157,000-square-foot speculative industrial building on the site. Once completed, the facility will feature 32-foot clear heights, 36 exterior docks, four drive-in doors and 173 parking spots. The property will be located at 850 Asbury Drive. Zach Graham and Ryan Bain of CBRE were the sole brokers in the transaction.

May 11, 2016

Illinois Midwest Retail

Adelphia Properties Brokers Sale of 24,050 SF Retail Property Near Chicago

by Christina Cannon May 11, 2016

NILES, ILL. — Adelphia Properties has brokered the sale of Niles Shopping Center, a 24,050-square-foot retail property in Niles, approximately 15 miles northwest of Chicago, for $1.9 million. The two-building center, located at 7519 and 7457 N. Milwaukee Ave., is anchored by AutoZone. The majority of the remaining tenants are healthcare service providers. Simeon Spirrison of Adelphia Properties represented the buyer in the transaction. Both parties in the deal were private investors.

May 11, 2016

Illinois Midwest Multifamily Seniors Housing

Caddis to Develop 94-Unit Senior Living Facility in Chicago Suburb

by Christina Cannon May 10, 2016

ORLAND PARK, ILL. — Caddis has unveiled plans for a new senior living facility in Orland Park, approximately 25 miles southwest of Chicago. Heartis Village Orland Park, located at 159th Street and Harlem Avenue, will be a 94-unit, 89,950-square-foot assisted living facility. Caddis began developing its first Illinois facility last year in Peoria, and the project is expected to open this fall. Both properties will be owned by Caddis and managed by Pathway Senior Living LLC. Heartis Village Orland Park will feature a salon and spa with a therapeutic tub, two interior courtyards, a large dining room, a private dining room, chef-prepared meals, daily activities, an arts and crafts room, media room, licensed nursing services, 24-hour emergency call system, housekeeping and laundry services and personal transportation. Austin, Texas-based Katus LLC is the architect, and Rosemont, Ill.-based McShane Construction Company LLC is the general contractor. The project is slated for delivery next fall.

May 10, 2016

Illinois Industrial Midwest

Principle Construction Breaks Ground on 348,000 SF Industrial Expansion in Illinois for Winpak

by Christina Cannon May 10, 2016

SAUK VILLAGE, ILL. — Principle Construction Corp. has broken ground on a 348,000-square-foot industrial expansion in Sauk Village, approximately 30 miles south of Chicago. Winpak Portion Packaging Inc. occupies the existing 267,000-square-foot building and will occupy the new space as well. The expansion will include a 197,000-square-foot warehouse, 137,950-square-foot production area, an amenity area, maintenance storage, break room, washrooms, mechanical utility room, trucker’s room, shipping office and a plant grinding room. The facility, located at 1111 Winpak Way, will add a second rail spur, 12 storage silos, two new 4000 amp electrical services, 150 parking stalls, 25 trailer stalls, 20 truck dock loading doors and an exterior drive-in door. Winpak Portion Packaging is a manufacturer and distributer of packaging materials. In addition to constructing the expansion, Principle will also work on several upgrades to the older facility. Harris Architects will provide architectural services.

May 10, 2016

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