Illinois

CPA:18 – Global Acquires 146,800 SF Office Building for $34.8M

by Amy Works September 10, 2015

WARRENVILLE, ILL. — CPA:18 – Global has acquired an office building in Warrenville for $34.8 million, excluding acquisition fees, from The Northwestern Mutual Life Insurance Co. Warrenville is 34 miles west of Chicago. Constructed as a build-to-suit in 2001, the five-story building offers 146,800 square feet of Class A office space. The property features flexible office space with exterior offices and interior conference rooms and cubicles, parking spaces, a conference center and a fitness center. Exelon Generation has triple-net leased the property on a long-term basis. CPA:18 – Global is one of W. P. Carey Inc.’s managed non-traded REITs.

September 10, 2015

Illinois Midwest Office

KTGY Group Inc. Opens New Chicago Office

by Amy Works September 9, 2015

CHICAGO — KTGY Group Inc. has opened a new office in downtown Chicago to expand its services in the Midwest. Veteran designers Craig Pryde and David Kennedy, both former principals of PPK Architects, will head the new studio. Pryde has designed and managed commercial and residential projects of all sizes, from new construction to renovation, adaptive reuse and expansion of existing buildings, including historical structures. Kennedy has extensive experience in the design of mixed-use residential projects and urban infill development projects, including large-scale commercial and low-, mid- and high-rise residential developments. The new office is located at 343 W. Erie St., Suite 220 in Chicago.

September 9, 2015

Illinois Midwest Office

Leopardo Breaks Ground on 315,000 SF Office Tower in Illinois

by Amy Works September 8, 2015

ROLLING MEADOWS, ILL. — Leopardo Cos. Inc. has broken ground on the recladding and renovation of an office tower in Rolling Meadows. The 11-story, 315,000-square-foot office building is located at 2850 Golf Road. When complete in the first quarter of 2017, the modernized building will become the global corporate headquarters of Arthur J. Gallagher & Co., which will relocate from Itasca, Ill. Leopardo is serving as general contractor in collaboration with Wright Heerema Architects.

September 8, 2015

Illinois Industrial Midwest

Cambria Co. Signs 40,460 SF Industrial Lease in O’Hare Market

by Amy Works September 8, 2015

DES PLAINES, ILL. — Cambria Co. has signed a lease for 40,460 square feet of industrial space at a newly constructed warehouse building located at 1780 Birchwood Ave. in Des Plaines. The 140,000-square-foot speculative warehouse and distribution facility features 32-foot clear heights and ample loading, trailer parking and auto parking. Additionally, the property was built to LEED standards. Brennan Investment Group, a private real estate investment firm that acquires, develops and operates industrial facilities, owns the property. Jonathan Kohn and Thomas Rodeno of Colliers International represented the landlord, while Britt Casey and Al Caruana of Cushman & Wakefield represented the tenant in the lease, which will commence in late third quarter 2015. This lease brings the property to 100 percent occupancy.

September 8, 2015

Illinois Midwest Multifamily

Marcus & Millichap Arranges $1.3M Sale of 14-Unit Apartment Building in Chicago

by Amy Works September 4, 2015

CHICAGO — Marcus & Millichap has brokered the sale of an apartment building located at 5428-5430 N. Kimball Ave. in Chicago. The 14-unit property sold for $1.3 million. The property is located in the North Park neighborhood, which is home to Northeastern University and North Park University. Jacob Korman and Kyle Stengle of Marcus & Millichap’s downtown Chicago office represented the seller, a private investor, while Joseph Scheck and Steve Livaditis, also of Marcus & Millichap, represented the buyer, a limited liability company, in the transaction.

September 4, 2015

Illinois Industrial Midwest

Meridian Completes 70,411 SF Expansion at Industrial Facility in Romeoville, Illinois

by Amy Works September 4, 2015

ROMEOVILLE, ILL. — Meridian Design Build has completed a 70,411-square-foot expansion to a 238,643-square-foot sorting and distribution center in Romeoville. The expansion increases the capacity of the facility with the addition of 95 interior van loading positions, 185 auto parking stalls, 69 trailer stalls and 3,442 square feet of office space. Site improvements include the construction of a 1,600-linear-foot retaining wall to facilitate expansion of the trailer area. Precept Design LLC served as project architect and Jacob & Hefner Associates provided civil engineering services for the project. Meridian constructed the original facility on a design-build basis in 2012 for Indianapolis-based Scannell Properties.

September 4, 2015

Illinois Midwest Multifamily

Marcus & Millichap Arranges Sale of 13-Unit Apartment Building in Chicago

by Amy Works September 3, 2015

CHICAGO — Marcus & Millichap has arranged the sale of an apartment building located at 926 W. George St. in Chicago. The 13-unit property sold for $3.8 million. Kyle Stengle of Marcus & Millichap’s Chicago office represented the buyer, a private investor, in the transaction. The name of the seller was not released.

September 3, 2015

Illinois Midwest Retail

11,904 SF Retail Center Sells for $6.1M in Matteson, Ill.

by Amy Works September 2, 2015

MATTESON, ILL. — The Starbucks | T-Mobile Center in Matteson has sold for $6.1 million to an undisclosed buyer. Located at 4800 211th St., the 11,904-square-foot property was constructed in 2014. The property consists of a 4,504-square-foot stand-alone Sleepy’s mattress store and a three-tenant strip center, which is fully occupied by Starbucks Coffee, T-Mobile and Giordano’s Pizza. Austin Weisenbeck and Sean Sharko of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a limited liability company, in the transaction.

September 2, 2015

Illinois Midwest Office

CBRE Arranges 31,924 SF Office Lease in Schaumburg, Ill.

by Amy Works September 2, 2015

SCHAUMBURG, ILL. — CBRE has brokered the lease of 31,924 square feet of office space at 1100 E Woodfield Road in Schaumburg to Fullerton Engineering Consultants Inc. The firm’s new corporate headquarters will occupy the fifth floor of the property and offers three private balconies that overlook the lake at the 103-acre Woodfield Lake Office Park. Mark Smith and Bill Saviski of CBRE represented the landlord, McKnight Realty Partners, while Wayne Shulman of Newmark Grubb Knight Frank represented the tenant in the transaction.

September 2, 2015

Illinois Midwest Retail

Cross Kick’s Fitness to Open Two Locations in Lake Zurich, Hoffman Estates, Ill.

by Amy Works September 2, 2015

LAKE ZURICH AND HOFFMAN ESTATES, ILL. — Cross Kick’s Fitness has signed two new leases for fitness facilities in Lake Zurich and Hoffman Estates. The company is opening a 2,500-square-foot location at 479 S. Rand Road within Village Square Retail Center in Lake Zurich, and a 2,000-square-foot location at 2567 Golf Road within Hoffman Village Shopping Center in Hoffman Estates. The fitness facility in Lake Zurich is slated to open later this month while the facility in Hoffman Estates will open later this fall. Cross Kick’s Fitness offers a 40-minute power workout, which includes circuit training, boxing, weight lighting and aerobics led by a certified personal trainer. Linda Kost and Dave Schmidt of RealtyMetrix LLC represented Cross Kick’s Fitness in the lease transactions.

September 2, 2015

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