Thursday, May 15, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Illinois

IllinoisLeasing ActivityMidwestRetail

Reform Studios to Open 4,000 SF Pilates Studio at Optima Signature in Downtown Chicago

by Kristin Harlow

CHICAGO — Reform Studios is scheduled to open a 4,000-square-foot Pilates studio on Saturday, June 22 in downtown Chicago. The studio will occupy ground-floor retail space of Optima Signature, a 57-story luxury apartment tower developed by Optima Inc. in 2017. Additional commercial tenants at the property include Guidepost Montessori School, Egg Harbor Café, Bedazzled and GoodVets Streeterville. Founded by local resident Jennifer Villamil, Reform Studios is the only studio in Chicagoland to offer Reform RX machines, the world’s first commercial-grade smart Pilates reformer. Equipped with high-definition touchscreen displays and a library of on-demand classes, the machines can precisely track users’ movements and present real-time data on calories burned, heart rate and power output as well as post-session workout summaries.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisMidwestRestaurantRetail

Principle Construction Completes Bakery Build-out in Lake Zurich, Illinois

by Kristin Harlow

LAKE ZURICH, ILL. — Principle Construction has completed a bakery build-out for Apres Pastry & Bakery in downtown Lake Zurich, a northwest suburb of Chicago. The tenant occupies the last remaining space within the building that Principle constructed in 2023. Principle added a new common entrance and pedestrian access corridor from the rear parking lot. The project included various mechanical, electrical, fire protection and plumbing systems as well as the installation of a walk-in freezer. Muran Architects served as the project architect, while Siren Betty designed the interior.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisIndustrialMidwest

Colliers Arranges Sale of 152,304 SF Logistics Facility in Streamwood, Illinois

by Kristin Harlow

STREAMWOOD, ILL. — Colliers has arranged the sale of a 152,304-square-foot logistics facility located just west of O’Hare International Airport in Streamwood. The sales price was undisclosed. Built on a speculative basis in 2020 by The Missner Group, the property at 800 Phoenix Lake Ave. features a clear height of 32 feet. The facility is fully leased to Pelton Sheperd Industries and ACME Furniture. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, an institutional real estate advisor. The asset sold to an Atlanta-based institutional investor.  

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisMidwestRetail

JT Magen Completes First Retail Store for Wayfair in Wilmette, Illinois

by Kristin Harlow

WILMETTE, ILL. — JT Magen has completed a 150,000-square-foot, two-story retail store for Wayfair at Edens Plaza in the Chicago suburb of Wilmette. Opened on May 23, the project marks the first large-format store for the e-commerce home furnishings company. Wayfair took over the anchor space formerly occupied by the Carson Pirie Scott department store. JT Magen completed a gut renovation of the existing building, providing new facades, utility systems and roofing. The project also included an exterior expansion of 110,000 square feet to include a plaza, new parking lot, landscaping and storm detention center. This area also includes The Porch at Wayfair, a full-service café.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisMidwest

Origin Investments Launches Origin Exchange Investment Program Focused on 1031 Exchanges

by Kristin Harlow

CHICAGO — Chicago-based Origin Investments, a multifamily investment manager, is launching a new investment program named Origin Exchange. According to Origin, the program enables qualified 1031 exchange investors to realize significant tax advantages, as well as access institutional-quality multifamily properties and estate-planning efficiencies at a fraction of typical fee structures. The Origin program establishes a Delaware Statutory Trust (DST) to acquire and manage real estate consistent with the firm’s stringent investment criteria — multifamily properties in the path of growth geographically diversified in Origin’s target markets. Interests in the DST qualify for a 1031 exchange. Origin is in final negotiations and due diligence for its first DST acquisition and will offer positions starting at $250,000. The company has appointed Michael O’Shea, an experienced professional with 17 years of work in commercial real estate, to the newly created position of vice president of Origin Exchange.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestMultifamilySeniors Housing

SLIB Arranges Sale of 188-Unit Seniors Housing Property Near Chicago

by Kristin Harlow

CHICAGO — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 188-unit independent living, assisted living and memory care community in a southern submarket of Chicago. The seller was a Midwest-based institutional capital provider, and the buyer was a Midwest-based owner-operator looking to expand its footprint throughout the region. Brad Clousing, Daniel Geraghty and Ryan Saul of SLIB brokered the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestMultifamily

Marcus & Millichap Negotiates Sale of 23-Unit Multifamily Portfolio in Midlothian, Illinois

by Kristin Harlow

MIDLOTHIAN, ILL. — Marcus & Millichap has negotiated the sale of the Karlov & Keystone Portfolio, a 23-unit multifamily portfolio in Midlothian, a southwest suburb of Chicago. The sales price was undisclosed. Originally built in the 1960s, the properties are located along Karlov and Keystone avenues near I-294 and Route 57. Ryan Engle, Andrean Angelov, Sam Antreasian and Zack Mahoney of Marcus & Millichap represented the seller, a private investor. Engle, Angelov and Antreasian represented the buyer, a private investor.  

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisIndustrialMidwest

Peak Construction Breaks Ground on 203,257 SF Industrial Expansion for OCM in Grayslake, Illinois

by Kristin Harlow

GRAYSLAKE, ILL. — Peak Construction Corp. has broken ground on a 203,257-square-foot industrial expansion for OCM Inc. in Grayslake, about 40 miles north of downtown Chicago. Upon completion, OCM will occupy 337,208 square feet. The addition features a clear height of 30 feet, 10 dock doors, three drive-in doors and 115 car parking spaces. Completion is slated by the end of the year. Cornerstone Architects and Manhard Consulting make up the project team. OCM is a subsidiary of OKABE Co. Ltd., which was founded in 1917 in Japan as a full-service manufacturer and distributor of concrete construction supplies.

Continue Reading
FacebookTwitterLinkedinEmail
Build-to-RentDevelopmentIllinoisMidwestSingle-Family Rental

Redwood to Open 140-Unit Build-to-Rent Community in Aurora, Illinois, This Summer

by Kristin Harlow

AURORA, ILL. — Redwood Living Inc. is nearing completion of Redwood Aurora, a 140-unit build-to-rent community in the Chicago suburb of Aurora. The single-story development will offer eight different floor plans ranging in size from 1,294 to 1,709 square feet. Each of the homes will feature two bedrooms, two bathrooms and a two-car garage. The property is located at 1241 Coffeeberry Lane near I-88. Monthly rents will start at $2,649. Redwood has developed more than 18,000 single-story apartment homes.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestRetail

First National Realty Partners Acquires 105,731 SF Townes Crossing Shopping Center in Oswego, Illinois

by Kristin Harlow

OSWEGO, ILL. — First National Realty Partners (FNRP) has acquired Townes Crossing, a 105,731-square-foot shopping center in the western Chicago suburb of Oswego. The purchase price was undisclosed. A 65,000-square-foot Jewel-Osco grocery store anchors the property and has been a tenant for over 30 years. Additional tenants include Phenix Salon Suites, Oswego Dental, The UPS Store and Subway. Evan Halkias of Cushman & Wakefield represented the undisclosed seller.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts