ELMHURST, ILL. — Entre Commercial Realty has arranged the $2 million sale of a 40,180-square-foot industrial property in Elmhurst. Jimenus, a distributor of steel rule dies, tools, jigs, boards and fixtures, purchased the property located on 1.8 acres at 727 Larch Ave. The firm is relocating to this space from 220 Gateway Drive in Bensenville, Ill. The property features 18-foot ceiling heights, four docks and 3000 amp of power. Improvements planned for the building include 4,000 square feet of newly designed office with additional upgrades to the exterior facade and landscaping starting in spring of 2015. The facility is located off York Road along the Eisenhower Expressway, with access to I-290, I-294 and the O’Hare submarkets. John Gazzola and Mike Gazzola of Entre Commercial Realty represented Jimenus. Mark Barbato of Nicolson Porter & List represented the seller.
GLEN CARBON, ILL. — Holland Construction Services Inc. began work on the new Father McGivney Catholic High School in Glen Carbon. The new 53,000-square-foot, two-story facility is located at the corner of Old Troy and Bouse roads. The new school includes classrooms, commons area, a chapel, library, gymnasium and a student lounge. Hurford Architects Inc. designed the new school, which is scheduled to open in August for the 2015-2016 school year.
BERWYN, ILL. — Quantum Real Estate Advisors Inc. has brokered the $945,000 sale of a single-tenant medical office building located at 3300 S. Oak Park Ave. in Berwyn. Vanguard Health Systems, a wholly owned subsidiary of Tenet Healthcare, occupies the freestanding, 5,990-square-foot building. A Pennsylvania-based real estate fund was the seller. The buyer was a private real estate investor based in Scottsdale, Ariz. Chad Firsel of Quantum Real Estate Advisors Inc. was the sole broker in the transaction.
ROLLING MEADOWS, ILL. — Panasonic Corp. of North America has signed a long-term lease for 48,813 square feet at Continental Towers in Rolling Meadows. The office, which moves from 5201 Tollview Road in Rolling Meadows, will serve as the consumer electronics company’s Midwest regional headquarters. It will take the entire 11th and 12th floors of Tower 3 when the lease begins in June 2015. Continental Towers is a 911,341-square-foot, three-tower office complex. Amenities include a 30,000-square-foot, full-service fitness center, a conference/training facility and a Foodbarz deli. The buildings is situated on a 34-acre corporate campus which is visible along I-90. Mitch Loveman and Kevin Duckler of Newmark Grubb Knight Frank represented Panasonic in the transaction. GlenStar Properties’ Dave Trumpy and Bill Debb represented ownership.
CHICAGO — South Street Capital, a Chicago-based real estate firm, has changed its name to R2 Cos. Managing principal Matt Garrison will continue to lead the company. “We have grown to a national owner and operator of multiple asset types with a fully integrated, end-to-end operations platform and expansive network of relationships in many markets” says Garrison. “Our new name and brand reflects our data-driven approach to investment, as well as our growth and aspirations for the future.” R2 currently owns and operates more than 1.5 million square feet of commercial real estate in Chicago and Minneapolis and also operates a discretionary mid-market yield fund, R2 Yield Plus.
WAYNE CITY, ILL. — Holland Construction Services Inc. has broken ground on a new K-12 grade school in Wayne City. The new school will include separate wings for K-2nd grade, 3rd-6th grade, junior high and high school, which will lay adjacent to a common area, shared reading room and cafeteria. The new facility will also feature a competition gymnasium and a smaller elementary school gym. Construction of the 105,000-square-foot school is scheduled for completion in August 2016. The school district’s existing facility was built in the 1930’s with multiple additions added throughout the years. After construction is complete, all grades will move to the new building and the current school will be demolished. O’Fallon, Ill.-based FGM Architects is designing the new school.
ITASCA, ILL. — Adelphia Properties has arranged the $1.2 million sale of Itasca Park Place Plaza in Itasca. The 22,000-square-foot property is located at 913-935 Irving Park Road. The strip center includes retail and office spaces. Simeon Spirrison and George Spirrison of Adelphia Properties represented the seller and the buyer, both private investors.
CHICAGO — Reed Construction has completed the construction of a new, simulation lab for Rush University Medical Center at 1717 W. Congress Parkway in Chicago. The 8,200-square-foot build-out features the addition of multiple labs, control rooms, debriefing rooms and the associated infrastructure. Reed Construction’s senior project manager Rich Melone oversaw the construction team, which included project manager Nick Theisinger and senior project superintendent Matt Mallers. Proteus Group was the architect for the project. Rush is a non-profit health care, education and research enterprise that includes Rush University Medical Center, Rush University, Rush Oak Park Hospital and Rush Health. Rush University Medical Center encompasses a 664-bed hospital serving adults and children.
GLENVIEW, ILL. — I.M. Construction Group has completed a 40,000-square-foot build-out for Dreamworks Graphics Communications in Glenview. The property is located at 2323 Ravine Way. Dreamworks is a print solutions company that provides offset, UV and lenticular printing. The firm is relocating its presses to this location from its current facility in Skokie, Ill. The build-out included the construction of a pre-press room and printing control room. IMCG also built-out office space with private offices and open work areas as well as completed all necessary electrical work, painting and finishes throughout. IMCG provided the construction services for the relocation along with Nomellini and Project Manager Kent Nepras leading the construction team. Angelo Christopher served as the project superintendent. Gensberg Ltd. provided the architectural services.
CHICAGO —Leopardo Cos. has completed a multiphase project for the Illinois College of Optometry, an optometric institution. The 28,000-square-foot interior renovation included modernizing aspects of an existing library and converting administrative space to make room for a new elderly eye care center. The library renovations added individual study areas, administrative and academic offices, as well as high-tech conference and student study rooms. The Alfred and Sarah Rosenbloom Center on Vision and Aging is a new elderly eye care facility to be used by the Illinois Eye Institute, a non-profit eye clinic providing eye care, outreach programs and research. Leopardo served as general contractor on the project. Chicago-based architect Jensen & Halstead provide architectural services.