Illinois

Podolsky|Circle CORFAC Arranges Relocation, Renovation of Evanston Art Center

by Amy Works June 3, 2015

EVANSTON, ILL. — Podolsky|Circle CORFAC has arranged the relocation and renovation of the Evanston Art Center in Evanston. The organization will relocate to a newly acquired 20,000-square-foot facility located at 1717 Central St. this summer from its current location at 2603 Sheridan Road. The Dobbins Group, serving as design-build contractor, renovated the new facility, which was a former office building. The art center features multi-disciplinary offerings, including programming and educational activities in the areas of culinary arts, design, digital fabrication, music and visual arts. Additionally the facility features gallery space and a coffee shop. Randy Podolsky and Adam Tarantur of Podolsky|Circle assisted in the acquisition of the facility for the 501(c)(3) non-profit organization. Podolsky|Circle and Lebar Construction Management served as construction manager for the renovation project.

June 3, 2015

Illinois Industrial Midwest

LG Electronics Extends 377,630 SF Lease in Bolingbrook, Ill.

by Amy Works June 2, 2015

BOLINGBROOK, ILL. — LG Electronics has extended its lease of 377,630 square feet at 1251 115th St. in Bolingbrook. The property is located within Highland Corporate Center and owned by ML Realty Partners. James Frank and Jason West of Cushman & Wakefield represented the tenant in the transaction. Terms of the lease were not released.

June 2, 2015

Illinois Midwest Multifamily

Marcus & Millichap Brokers Sale of 12-Unit Apartment Building in Illinois

by Amy Works June 2, 2015

TINLEY PARK, ILL. — Marcus & Millichap has brokered the sale of an apartment building located at 7351 Sandalwood Drive in Tinley Park. The 12-unit property sold for $845,000. The property comprises four one-bedroom/one-bath units, measuring 600 square feet, and eight two-bedroom/one-bath units, measuring approximately 875 square feet. Each unit has storage, a dishwasher, access to on-site laundry and a balcony or patio. Jordan Gilbert, Andrean Angelov and Ryan Engle of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a private investor, and secured the buyer, a limited liability company, in the transaction.

June 2, 2015

Illinois Industrial Midwest

PREMIER Design + Build Group Selected To Construct Bridge Point North

by Amy Works June 1, 2015

WAUKEGAN, ILL. — Bridge Development Co. has selected PREMIER Design + Build Group to construct Bridge Point North, a 240-acre business park redevelopment within McGaw Park in Waukegan. The first phase of the project includes more than 17 million cubic feet of demolition and reconfiguration of existing roadways and infrastructure and the construction of a 625,000-square-foot building and a 400,000-square-foot building. Additionally, the first phase will include the installation of a new heating system and sanitary sewers in a few of the existing structures. Plans for the second phase are currently underway and include up to seven buildings, totaling 1.1 million additional square feet. Cornerstone Architects LTD is providing architectural services and Manhard Consulting LTD is providing civil engineering services.

June 1, 2015

Healthcare Illinois Midwest

Reed Construction Begins Renovations at Illinois Behavioral Health Hospital

by Amy Works June 1, 2015

DES PLAINES, ILL. — Reed Construction has started a renovation project at the former Maryville Behavioral Health Hospital, located at 555 Wilson Lane in Des Plaines. US HealthVest acquired the facility in the fourth quarter of 2014 and renamed the property to Chicago Behavioral Hospital. The improvement program includes 22,000 square feet of internal renovations to the facility’s architectural components on the third and fourth floors, including new patient rooms and large group therapy rooms. Additional renovation includes upgrades to various mechanical, electrical and plumping components, as well as the nurse calling and fire alarm systems. Originally founded in 1883, the faith-based, 125-bed facility provides a range of inpatient and day hospital care for adolescents, including a general psychiatric unit and an intensive care unit. Following the renovations, the facility will expand to include services for adults. Miro Petrovic of US HealthVest is providing architectural services for the project. Construction of the renovated space is slated for completion this November.

June 1, 2015

Illinois Midwest Office

Adelphia Properties Closes $1M Sale of Office Building in Illinois

by Amy Works May 28, 2015

LISLE, ILL. — Adelphia Properties has brokered the sale of a single-story office building located at 4933 Lincoln Ave. in Lisle, a southwest suburb of Chicago. A private investor acquired the 8,163-square-foot property for $1 million. George Spirrison of Adelphia Properties represented the seller, Conner & Gallagher Insurance Services Inc.

May 28, 2015

Illinois Industrial Midwest

NGKF Brokers 1.1M SF Tenant Relocation in Joliet

by Amy Works May 27, 2015

JOLIET, ILL. — Newmark Grubb Knight Frank (NGKF) represented Saddle Creek Logistics in its relocation to a 1.1 million-square-foot build-to-suit distribution facility in Joliet. Located within CenterPoint Intermodal Center, the state-of-the-art facility will be situated on 60 acres. The $43 million facility will feature 32-foot clear ceiling heights, 132 dock doors, four drive-in doors, ample parking, 328 trailer stalls and 15,000 square feet of office space. Saddle Creek is relocating to the new facility from its current 590,000-square-foot facility at 21051 W. Walter Strawn Drive in Elwood, Ill. The company plans to occupy the new space by February 2016. Jack Cozzie of NGKF and Ladson Montgomery of Newmark Grubb Phoenix Realty Group represented Saddle Creek, while Dan Leahy and Adam Roth of NAI Hiffman represented CenterPoint in the transaction.

May 27, 2015

Illinois Midwest

NorthPoint Capital Funding Names Charles Krawitz as COO

by Amy Works May 27, 2015

CHICAGO — NorthPoint Capital Funding Inc. has hired Charles Krawitz as chief operating officer. Based in the firm’s downtown Chicago office, Krawitz will oversee the expansion and training of the firm’s loan origination staff and play a central role in meeting the financing needs of clients either through correspondent life insurance relationships or as a direct lender. “Charles has been at the forefront of the commercial real estate finance industry for over 25 years and is both well-known and highly regarded,” notes Keith Volgman, president of NorthPoint Capital Funding. “He will be an invaluable asset to NorthPoint Capital Funding as we look to grow our loan originations business throughout the Midwest.” Previously, Krawitz served with LaSalle Select, and he currently serves as a board member for SomerCor 504, a non-profit certified development company, and is active with the City of Hope as a member of its REACH board.

May 27, 2015

675-Industrial-Dr-Oakbrook-Terrace-IL-rebo

Illinois Industrial Midwest

Marcus & Millichap Arranges Sale of 53,944 SF Industrial Building in Illinois

by Amy Works May 26, 2015

CARY, ILL. — Marcus & Millichap brokers sale of an industrial building located at 675 Industrial Drive in Cary, a city northwest of Chicago. A private investor acquired the property for $1 million from an individual/private trust. Built in 1989, the 53,944-square-foot property features 18-foot clear ceiling heights, a finished 1,800-square-foot mezzanine level and a full sprinkler system. At the time of sale, the property was vacant. Tammy Saia of Marcus & Millichap represented both parties in the transaction.

May 26, 2015

Healthcare Illinois Midwest Office

Marcus & Millichap Brokers $131M Sale of Nine-Building Medical Office Portfolio in Chicago

by Amy Works May 22, 2015

CHICAGO — Marcus & Millichap has brokered the sale of a nine-building medical office portfolio in Chicago. A joint venture fund managed by Chicago-based MBRE Healthcare acquired the 401,428-square-foot portfolio for $131 million. The portfolio includes an 86,503-square-foot medical facility in Morton Grove, Ill.; a 60,500-square-foot property in Des Plaines, Ill.; and a 40,011-square-foot building in Chicago. Tenants of the portfolio include the Illinois Bone and Joint Institute (IBJI), Advocate Health Care, NorthShore University HealthSystem, Resurrection Health Care (Presence Health), Metro Infectious Disease Consultants and Pain Specialists of Greater Chicago. John Smelter, Scott Niedergang Gino Lollio of Marcus & Millichap represented the seller, a partnership consisting of a local developer and a number of physicians affiliated with IBJI, and procured the buyer in the transaction.

May 22, 2015

Newer Posts

Older Posts