Illinois

Reed Construction Completes Office Build-Out for Raby Institute of Integrative Medicine

by Danielle Everson February 23, 2015

CHICAGO – Reed Construction has completed a two-phase, 10,500-square-foot build-out for the Raby Institute of Integrative Medicine at Northwestern. The property is located at 500 N. Michigan Ave. in Chicago. The project included the addition of open ceilings within the space as well as the build-out of the reception area, exam rooms, treatment rooms and medical imaging rooms. Reed Construction also built private offices and conference rooms. The finished space now features high-end finishes, new lighting fixtures, paint and carpeting throughout. Jack Hennessy oversaw the project on behalf of Reed Construction, and Marty McGriff was the project superintendent. Parachin Design Studios Inc. provided the architectural services. The Raby Institute for Integrative Medicine is a center for integrative healing that combines science-based Western medicine with holistic healing approaches.

February 23, 2015

Illinois Industrial Midwest

Zilber Property Group Sells 110,000 SF Industrial Facility in Elgin, Ill.

by John Nelson February 20, 2015

ELGIN, ILL. — Zilber Property Group has sold a 110,000-square-foot industrial facility in Elgin to Bucher Hydraulics. The property is located at 2545 – 2555 Northwest Parkway. The facility includes 24-foot clear ceiling heights. Adam Marshall of Newmark Grubb Knight Frank represented Bucher Hydraulics in the sale. Joe Bronson of NAI Hiffman represented Zilber Property Group.

February 20, 2015

Illinois Industrial Midwest

Iris Construction Services Completes Expansion of Warehouse Space in Bolingbrook, Ill.

by John Nelson February 20, 2015

BOLINGBROOK, ILL. — Iris Construction Services (ICS) has completed a 35,000-square-foot expansion for an industrial warehouse in Bolingbrook. BC Foods occupies the warehouse space located at 485 Crossroads Parkway. Renovations included the addition of a new demising wall, drive-in door, lighting and other general improvements. This is the third project ICS has completed for BC Foods at the facility.

February 20, 2015

Illinois Midwest Retail

Inland Real Estate Corp. to Redevelop Joliet Commons Shopping Center in Joliet, Ill.

by Danielle Everson February 19, 2015

JOLIET, ILL. — Inland Real Estate Corp. (IRC) is redeveloping Joliet Commons, a power center in Joliet, and adding a new 65,000-square-foot building for Dick’s Sporting Goods and DSW. Construction on the project is set to begin this spring. To accommodate the new tenants, IRC will redevelop a former movie theater at the center into a brand new building for the retailers. With the addition of the new building, the total gross leasable area of Joliet Commons will increase to 229,000 square feet. Dick’s Sporting Goods and DSW will join other national retailers at the center such as PetSmart, Old Navy, Party City and Famous Footwear. The project is expected for completion this fall.

February 19, 2015

Illinois Loans Midwest Office

Cohen Financial Arranges $8.3M Acquisition Loan for Office Property

by Danielle Everson February 18, 2015

OAKBROOK TERRACE, ILL. — Cohen Financial has arranged an $8.3 million acquisition loan for a mid-rise office building located at 2 Trans Am Plaza Drive in Oakbrook Terrace. The property is a 5-story office building adjacent to a Marriott Courtyard hotel. The property is leased to multiple tenants. Dan Rosenberg of Cohen Financial’s Chicago office secured the loan with American Capital Ltd., a publicly traded private equity firm and global asset manager. The borrower is American Landmark Properties, a commercial real estate owner/manager experienced in office properties.

February 18, 2015

Illinois Midwest Multifamily

Fifield Cos. Opens E2 Apartment Complex in Downtown Evanston, Ill.

by Danielle Everson February 18, 2015

EVANSTON, ILL. — Co-developers Fifield Cos. and Carroll Properties have opened E2, a luxury apartment project in downtown Evanston. The 356-unit development also includes 12 rental townhouses. Designed by FitzGerald Associates Architects, E2 consists of two buildings, a 16-story tower at 1881 Oak Ave., and a 14-story tower at 1890 Maple Ave. The two buildings are connected by a four-story structure that includes three floors of parking and a fourth-floor amenity deck. The building also contains 4,000 square feet of ground-floor retail space. Evanston-based Morgante Wilson Architects designed the common area interior at E2. Apartment tower residences range from 500 to 1,400 square feet and include studio, one-, two- and three-bedroom layouts. Prices range from $1,550 for a studio to $3,700 for a three-bedroom unit. The property also has 12 rental townhomes with private access from Emerson Street. The three-story E2 townhomes range in size from 1,750 to 1,875 square feet and have three bedrooms, two and a half baths and a third-floor deck. Pricing for townhomes begin at $4,200 per month.

February 18, 2015

Illinois Midwest Retail

Matanky Realty Group Arranges Sale of Clinton Plaza in Clinton, Ill.

by Danielle Everson February 16, 2015

CLINTON, ILL. — Matanky Realty Group has arranged the sale of Clinton Plaza, a shopping center in Clinton. A private investor purchased the property for an undisclosed sales price. The CVS-anchored plaza is composed of four retail units totaling 17,776 square feet and two outlots totaling 101,929 square feet. The property is located on Illinois Route 54, a half mile from US-51 S and across the street from Clinton High School and Richland Community College Extension Center. Terri Cox of Matanky Realty Group represented the seller, a private Chicago-based real estate corporation.

February 16, 2015

Illinois Midwest Office

Morgan/Harbour Completes 20,000 SF Office Build-Out in Downers Grove, Ill.

by Danielle Everson February 16, 2015

DOWNERS GROVE, ILL. — Morgan/Harbour has completed a 20,000-square-foot office renovation for LexTech Global Services in Downers Grove. The property is located at 1431 Opus Place within the Executive Towers West I building. LexTech, an enterprise mobile app development firm, is relocating its headquarters to this property from 3080 Ogden Ave. in Lisle, Ill. The build-out included the addition of 27 private offices, large collaboration areas, six conference rooms, 15 team rooms and video conferencing rooms. Features of the new space include exposed construction ceilings, fabric panel ceilings, LED light fixtures and custom millwork throughout. Morgan/Harbour’s construction team included Ben Warriner Sr., Andy MacMillan, Noah Warriner, Marrico Crum and Tom Sawa. Newman Architecture provided architectural services for the project.

February 16, 2015

Illinois Industrial Midwest

HSA Commercial Real Estate Arranges 147,625 SF Industrial Lease in Metro Chicago

by Danielle Everson February 16, 2015

AURORA, ILL. — HSA Commercial Real Estate represented Denver-based Industrial Income Trust Inc. in a long-term, 147,625-square-foot lease with Casio America Inc. at 1203 Bilter Road in Aurora, a suburb of Chicago. Casio, a manufacturer and seller of consumer electronic devices, will relocate from Glendale Heights, Ill., and will utilize the Aurora facility for its regional distribution operations. HSA Commercial developed the 294,740-square-foot Bilter Road facility in 2007 and sold the property to Industrial Income Trust Inc. as part of a $100 million portfolio sale in 2010. The facility features 30-foot clear heights and is near I-88. Andy Corken of The Modal Group represented Casio America Inc. in the lease transaction. Timothy Thompson of HSA Commercial represented Industrial Income Trust.

February 16, 2015

Illinois Midwest Retail

Mid-America Arranges 14,000 SF Retail Lease in Chicago

by Danielle Everson February 16, 2015

CHICAGO — Mid-America Real Estate Corp. has arranged a new retail lease at 4718 N. Broadway in Chicago’s Uptown neighborhood. First Ascent Climbing and Fitness will occupy 14,000 square feet on the second floor of the former Borders Bookstore building. The space will feature 10,000 square feet of bouldering walls, which range from 15 to 18 feet in height. The gym will feature yoga, weights and other fitness equipment. First Ascent is a Chicago-based community-focused climbing gym. This will be First Ascent’s second location. The other location is currently under construction in Avondale, Ill. Both facilities are expected to open this summer. Paul Bryant and Andrew Becker of Mid-America represented the landlord, Josh Mintzer of Saxony Capital, in the transaction. The tenant was self-represented.

February 16, 2015

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