Illinois

Anthem Opens $12.5M, 82-Bed Memory Care Community in Illinois

by Christina Cannon July 21, 2016

TINLEY PARK, ILL. — Anthem Memory Care has opened its ninth community, Porter Place, in Tinley Park, approximately 30 miles southwest of Chicago. Development costs were estimated at $12.5 million for the 82-bed memory care community. LTC Properties Inc., a real estate investment trust that primarily invests in seniors housing and healthcare properties, financed the development and construction. CB Two Architects designed the community. Adair Group and Pickus Construction served as general contractors. Woolpert Inc. handled civil engineering services.

July 21, 2016

Illinois Industrial Midwest

Principle Construction Finishes Work on 70,000 SF Industrial Project in Illinois for Saia

by Christina Cannon July 21, 2016

GRAYSLAKE, ILL. — Principle Construction Corp. has completed two industrial buildings for Saia LTL Freight. The buildings, located at 2260 S. Midlothian Road in Grayslake, will serve as administrative, maintenance and operations space for Saia. The two buildings are situated on 33 acres and total 70,000 square feet. Amenities at the property include 16-foot clear heights, over 100 docks and a fueling facility with 12 service bays and two wash bays. The project also features parking for 94 automobiles, 294 trailers, 34 tractors and 30 dollies. Larry L. Christian Architects designed the project, and Cushman & Wakefield represented Saia.

July 21, 2016

Illinois Midwest Retail

Englewood Construction to Build Three Retail Projects in Metro Chicago

by Haisten Willis July 18, 2016

ROMEOVILLE, WOODRIDGE AND NEW LENOX, ILL. — Englewood Construction has broken ground on three projects in Chicago’s west and southwest suburbs. The developments include the ground-up construction of the Chicago area’s first Blain’s Farm & Fleet in Romeoville, the renovation of a Sam’s Club in Woodridge and the interior remodeling of an AMC Theatre in New Lenox. In the first project, Englewood is constructing a 120,690-square-foot Blain’s Farm & Fleet at 451 S. Weber Road in Romeoville. Set to open this fall, the project will be the sporting goods retailer’s 37th location. Charlotte, N.C.-based Little Diversified Architectural Consulting is the project architect. In the second project, the renovated AMC Theatre at 1320 Maple St. in New Lenox is scheduled to open late this summer. The installation of recliners is part of Englewood’s interior remodeling of the venue’s 14 auditoriums. The 51,269-square-foot project also includes renovations to the box office, guest services area, lobby, concessions and restrooms. Kansas City, Mo.-based Lickel Architecture is the project architect. In the third project, Englewood is remodeling the interior of the 139,325-square-foot Sam’s Club at 7300 Woodward Ave. in Woodridge for national client Wal-mart Stores Inc. The project is scheduled for completion in late July. …

July 18, 2016

Illinois Midwest Retail

Adelphia Properties Brokers $3.1M Sale of Retail Center in Chicago Suburb

by Haisten Willis July 18, 2016

DARIEN, ILL. — Adelphia Properties has brokered the $3.1 million sale of Crossroads of Darien, a 14,300-square-foot retail center located at 2805-2819 W. 83rd St. in Darien, a suburb of Chicago. The asset was fully leased at the time of sale. George Spirrison and Simeon Spirrison of Adelphia Properties represented the undisclosed seller in the transaction. The buyer was a private investor based locally.

July 18, 2016

Illinois Midwest Office

Cushman & Wakefield Negotiates 29,079 SF Office Lease in Chicago

by Haisten Willis July 15, 2016

CHICAGO — Cushman & Wakefield has brokered a 29,079-square-foot office lease at 200 W. Monroe for Chicago-based Civis Analytics, a provider of data science software and services. Civis has grown from 15 employees in 2013 to 120 today, and plans to add at least 75 jobs in 2016. The company, which is relocating, will begin occupying its new office space at 200 W. Monroe in August. The property is a 23-story office tower located in Chicago’s West Loop submarket. Recent renovations to the building include a modernized lobby and conference center. In addition to the upgrades, the building offers amenities such as a gym and restaurants. Cushman & Wakefield’s Steve Schneider, Bill Starcevich and Jake Hagelow led the transaction.

July 15, 2016

Illinois Midwest Multifamily

Interra Realty Brokers $2.3M Sale of Apartment Building in Chicago

by Haisten Willis July 15, 2016

CHICAGO — Interra Realty has brokered the sale of an apartment building in Chicago’s Wicker Park neighborhood for $2.3 million at a 6.2 percent cap rate. The Interra team of Ted Stratman and Jeremy Morton were hired by the seller to market the apartment building. The five-unit property, located at 2144 W. Potomac Ave., was recently renovated with new porches, heating and air conditioning, granite countertops, stainless steel appliances, hardwood floors, electrical updates and copper plumbing.

July 15, 2016

Illinois Midwest Retail

SVN | Chicago Brokers $1.8M Sale of Shopping Center in Carol Stream, Ill.

by Haisten Willis July 15, 2016

CAROL STREAM, ILL. — SVN | Chicago Commercial has brokered the $1.8 million sale of Elk Trail Center, a 16,299-square-foot shopping center located at 257-81 Elk Trail Road in Carol Stream, a village in DuPage County roughly 33 miles west of Chicago. Tim Franz of SVN | Chicago Commercial represented the undisclosed seller in the transaction. The buyer was an out-of-state entity. Elk Trail Center’s tenant roster includes Allstate Insurance, Maytag Laundromat, Papa Ray’s Pizza, Sul Realty, White Bridge Cleaners, Village View Barber Shop and the Carol Stream Food Mart.

July 15, 2016

Illinois Industrial Midwest Office

Meridian Breaks Ground on Build-to-Suit in Metro Chicago

by Haisten Willis July 14, 2016

BARTLETT, ILL. — Meridian Design Build has broken ground on a 67,080-square-foot build-to-suit for Traffic Control & Protection on a 9.5-acre site within Abbott Land & Investment’s Blue Heron Business Park in Bartlett, Ill. Traffic Control & Protection provides traffic signs and other traffic control products. The new facility will include a 10,000-square-foot office/employee facility area, a 13,000-square-foot sign shop/silk screen area, a barricade shop and seven interior vehicle maintenance bays. Construction at the site is underway with occupancy scheduled for the fourth quarter of this year. Harris Architects has been retained by Traffic Control & Protection to provide architectural and structural design services. Mackie Consultants is providing civil design services for the project. Dan Flanagan of Flanagan Realty represented Traffic Control & Protection in the selection and acquisition of the site and coordinated overall planning and approval efforts for the project.

July 14, 2016

Illinois Industrial Midwest Office

Transwestern Represents Centor in 62,662 SF Headquarters Lease in Metro Chicago

by Haisten Willis July 14, 2016

AURORA, ILL. — Transwestern has represented Centor North America Inc. in a 62,662-square-foot headquarters lease at 966 Corporate Blvd., a 238,604-square-foot multi-tenant warehouse in Aurora, Ill. Centor, a manufacturer of integrated doors for residential homes as well as folding doors, hardware and screen/blind systems, plans to relocate to the new facility from its current headquarters in Batavia on Oct. 1. Michael Marconi, Justin Lerner and Joe Karmin of Transwestern represented the tenant in the transaction. Completed in 2015, 966 Corporate Blvd. is LEED-certified and includes 32-foot ceilings, seven exterior docks, one drive-in door and 41 trailer stalls. Centor will use tenant improvement funds secured by Transwestern to complete the build-out of its space, which includes a state-of-the-art showroom and corporate offices.

July 14, 2016

Illinois Loans Midwest Mixed-Use

Sonnenblick-Eichner Arranges $47.5M Loan for Historic Mixed-Use Building in Chicago’s Financial District

by Christina Cannon July 13, 2016

CHICAGO — Sonnenblick-Eichner Co. has arranged a $47.5 million loan to refinance the office and retail component of a 21-story building at 208 S. LaSalle St. in Chicago. The 1.1 million-square-foot, mixed-use building is located in the financial district. Michael Reschke of The Prime Group Inc. is the property owner. The loan is secured by five floors (13-17) of office space totaling 207,953 square feet and 11,379 square feet of street-level retail space, which is collectively 94 percent leased. The first 12 floors are occupied by a 610-room JW Marriott hotel. Neither the hotel nor the top four office floors were part of the collateral. The seven-year, non-recourse financing was funded by an affiliate of Guggenheim Commercial Real Estate Finance. The loan refinanced a $35 million mortgage that was a part of a $321 million facility Sonnenblick-Eichner Co. arranged for the ownership two years ago. The deal was comprised of four different loans and included first mortgage debt and mezzanine financing. The property, built in 1914 as the headquarters for the Continental and Commercial National Bank, was designed by Daniel Burnham and added to the National Register of Historic Places in 2007.

July 13, 2016

Newer Posts

Older Posts