LISLE, ILL. — NAI Hiffman has represented Metrasens in its office expansion with Pritchett Realty Corp. at 2150 Western Court in Lisle. Metrasens, a technology business that specializes in metal detection products for the healthcare and security markets, expanded its lease by 3,249 square feet and now occupies a total of 6,850 square feet in the 51,244-square-foot office building. The expansion will accommodate its need for additional administrative offices, service and testing lab space. Matt Novak of NAI represented Metrasens in the transaction. Jeff Mann of CBRE represented Pritchett Realty Corp.
CHICAGO — Reed Construction has completed an 8,980-square-foot build-out of the new headquarters for Eckenhoff Saunders Architects (ESA). The office is located on the 18th floor within One Prudential Plaza at 130 E. Randolph in Chicago. ESA is a Chicago-based, midsize firm specializing in architecture, planning and interior design. The company recently relocated from the West Loop to One Prudential Plaza. The project featured custom, fabricated millwork throughout, the construction of open loft ceilings with high-end LED light fixtures and walls clad in walnut wood flooring. Reed Construction also simultaneously renovated the 18th floor corridor and elevator lobby space adjacent to the ESA suite. Project management firm JLL selected Reed Construction to complete interior renovations at to the new space. Scott Pickands was the project’s executive leading the construction team for Reed Construction and Joseph Kozlowski served as the project manager. ESA provided architectural services for the project.
CHICAGO — Interra Realty has brokered the $1.2 million sale of a 13-unit, walk-up style apartment building at 1614 N. Harding Ave. in Chicago’s Humboldt Park neighborhood. The property features studio, one-, two- and three- bedroom layouts. Ten of the units have recently been renovated and the property. Joe Smazal and James Clough of Interra Realty represented both the buyer and the seller in the transaction.
CHICAGO — Oak Grove Capital has arranged a $27 million adjustable-rate mortgage through Freddie Mac for Algonquin Square Apartments, a 220-unit multifamily property located in Chicago’s western suburbs.The property was built in 2012 and 2013. The loan was for a joint venture between Marquette Cos., EJ Plesko & Associates and American National Insurance, which served as the limited partner.The new loan allowed for the payoff of the construction loan, municipal loans and further returned some of the original investment to the investor members. Scott Streiff of Oak Grove Capital arranged the seven-year loan that includes two years of interest-only payments and a 30-year amortization schedule.
CHICAGO — The Barack Obama Foundation plans to locate the future Barack Obama Presidential Center, which will include a museum, library, as well as office space for Foundation activities and events, in the South Side of Chicago. The site was selected over bids made by Columbia University in New York, the University of Hawaii and the University of Illinois at Chicago. The library is expected create hundreds of jobs and hundreds of millions of dollars a year in economic activity, according to Crain’s Chicago Business. A date for the development has not been announced. As a future neighbor and collaborator on the Center, the University of Chicago has pledged to make resources and infrastructure available to the Foundation in the near term for its planning and development work. The Foundation also intends to maintain a presence at Columbia University for the purpose of exploring and developing opportunities for a long-term association, and to work with the state of Hawaii to establish a lasting presence in Honolulu. Within Chicago, the Obama Foundation will additionally explore possible collaboration with the University of Illinois–Chicago.
BENSENVILLE, ILL. — Zilber Property Group has arranged the lease of an 18,000-square-foot industrial property in Bensenville. Creeden & Associates Inc. will occupy space within the Cornerstone Business Park. Arthur J. Rogers of Zilber represented the landlord. Korman/Lederer & Associates represented Creeden & Associates.
CHICAGO — Pillar has arranged a $9.4 million loan with Freddie Mac for the Hidden Lakes of Hinsdale Apartments, a 105-unit multifamily property located in the Western suburbs of Chicago. The fixed rate, 10-year loan includes a 30-year amortization schedule. Joe Markech and Brooke Jackson of Pillar’s Chicago origination team arranged the loan. Hidden Lakes of Hinsdale Apartments was built in 1971 and purchased by Pillar’s client in 2007. Upon acquiring the property, the sponsor invested $1.3 million to upgrade all units and the exterior of the property, which is 100 percent leased at market rates. The borrower is a local owner/operator of multifamily properties.
BROADVIEW, ILL. — Darwin Realty & Development Corp. has arranged a long-term lease renewal for 43,175 square feet located at 2109-2111 21st St. in Broadview. Dan Fanelli and George Cibula of Darwin represented Arrow Pneumatics Inc. The manufacturer of parts and products for the compressed air industry will occupy the space. The team also represented the landlord, a private investor. The property features a 22-foot ceiling height, four interior docks and 4,500 square feet of finished office area.
ALGONQUIN, ILL. — Quantum Real Estate Advisors Inc. has brokered the $9.5 million sale of a 26,864-square-foot retail complex divided in three buildings in Algonquin. Woods Creek Commons is located at 750-790 S. Randall Road. The multitenant retail center includes three buildings with tenants such as ATI Physical Therapy, Supercuts, GameStop, Pie Five Pizza, Mattress Firm, Starbucks Coffee, Massage Envy and Soma Medi Spa. The properties are an outlot to the Woodscreek Shopping Center, a 400,000-square-foot shopping center. The seller was a local development group based in Illinois. The buyer was a private real estate investor based in Wisconsin. Chad Firsel of Quantum was the sole broker in this transaction.
MILWAUKEE AND WESTCHESTER, ILL. — NAI Hiffman has arranged five new leases for Burger King in Wisconsin and Illinois. The new leases include four locations in Wisconsin: the northwest corner of 14th and Wells streets in Milwaukee; the southeast corner of North and Prospect avenues in Milwaukee; the southeast corner of Moorland Road and College Avenue in Muskego, Wis.; and the southwest corner of College and Chicago avenues in South Milwaukee. The fifth lease is a co-brand concept with BP Amoco located at the southeast corner of I-290 and Mannheim Road in Westchester. Michael Meksto of NAI Hiffman represented Burger King in the transactions. Over 10 new leases are expected for completion in 2015 across Illinois, Wisconsin and Indiana. Burger King selected Meksto to lead expansion efforts into Michigan, Ohio, Kentucky, Western Iowa and Tennessee.