CHICAGO — Sitex Group has acquired a 128,000-square-foot vacant warehouse located at 5000 S. Homan in Chicago for an undisclosed sales price. Situated on nearly 16 acres, the property is located in the city’s 14th ward near the I-55/Pulaski Avenue interchange. The former CN Railroad distribution facility features 30-foot clear heights, 30 exterior loading docks, grade level access and office space. Sitex Group will soon begin renovations, which will include façade enhancements, parking lot improvements, upgrades to the office space and the addition of modern lighting.
CHICAGO — Akara Partners plans to develop a two-building, 270,202-square-foot apartment complex at 500 N. Milwaukee in Chicago’s River West Neighborhood Fulton River District near the West Loop. Following demolition of an existing vacant building on the site, Akara will proceed with construction of 227 apartment units, 14,000 square feet of street-level retail space and 102 parking spaces at the northwest corner of Milwaukee and Grand avenues. The design by Pappageorge Haymes Ltd. includes a four-story building on the corner totaling 55,074 square feet and a 14-story building on the other side of Green Street totaling 215,128 square feet. BMO Harris Bank is providing construction financing for the development and Goldman Sachs serves as the equity partner. CA Residential is Akara’s development partner and Tishman Construction is the general contractor. The development is scheduled for completion in 2016.
BROADVIEW, ILL. — Paine/Wetzel TCN Worldwide has arranged the lease of a new 30,117-square-foot industrial space in Broadview. Golden Eagle Distributors will occupy space located at 2121 21st St. The general merchandise distribution company is relocating from 4139 W. Ogden Ave. in Chicago. The new property includes high ceilings, wide bays, 3,000 square feet of office space and two interior truck docks with elevators. The building also includes an overhead drive-in door and available parking. Albert Schulman of Paine/Wetzel TCN Worldwide represented Golden Eagle Distributors. Darwin Realty’s Dan Fanelli represented the building’s owner, GIS Rolling LLC.
CHICAGO — Peet’s Coffee & Tea Inc. has opened a new store and Ghirardelli Chocolate Co. has signed a new lease in Chicago’s Wrigley Building. Peet’s will occupy 1,140 square feet on the ground floor of the south tower of the building at 400-410 N. Michigan Ave. The Peet’s store has been built with the company’s new store design that showcases the art of its coffee making and also features historic photos of The Wrigley Building from the early 20th century. Ghirardelli Chocolate Co. has signed a new lease for 7,000 square feet of retail space in the south tower for an ice cream and chocolate shop. The new store is set to open on Memorial Day. The Wrigley Building is owned by a group of investors led by BDT Capital Partners and includes Zeller Realty Group, and Eric Lefkofsky and Brad Keywell personally, as minority investors.
ST. CHARLES, ILL. — Darwin Realty & Development Corp. has arranged the sale of a 36,371-square-foot industrial facility in St. Charles. A Midwest-based food manufacturing and distribution company purchased the property, which is located on more than two acres at 2531 Dukane Drive. The property, which was built in 1980 and expanded in 2001, features an 18-foot, 6-inch clear ceiling height and three interior docks with one grade-level door. Geoff Kasselman of Newmark Grubb Knight Frank represented the seller, an East Coast-based printing services company.
O’FALLON, ILL. – Holland Construction Services Inc. has completed construction on the new O’Fallon Fire/EMS headquarters, and parks and recreation maintenance facility. Holland served as construction manager on the $5.8 million project. The 16,400-square-foot, five-bay firehouse features workstations, sleeping quarters, a weight room and a training/conference center. The 7,500-square-foot parks and recreation maintenance building includes four apparatus bays and multi-purpose administration space.
PALOS HILLS, ILL. — Essex Realty Group Inc. has brokered the $17.1 million sale of 254 units within Scenic Tree Condominiums in Palos Hills. The property is located at 10205 S. 86th Terrace. Scenic Tree Condominiums is a multifamily garden unit community consisting of a total of 448 units. The property is within walking distance of the Green Hills Public Library, Oak Ridge Elementary School and Osborne Park. Doug Fisher of Essex Realty Group represented the undisclosed buyer. Matt Welke and Jason Fishleder of Essex represented the undisclosed seller.
BUFFALO GROVE, ILL. — Entre Commercial Realty has arranged the lease of a 30,000-square-foot industrial building in Buffalo Grove, approximately 33 miles northwest of Chicago. Illinois Masonry Corp. will occupy space located at 1051 Commerce Court. The masonry company is relocating from its current Lake Zurich location to the Northern Builders Buffalo Grove property. The freestanding building features 3,765 square feet of office, a 26.5-foot clear ceiling height, three exterior docks, one drive-in door, and a fenced and secured truck parking lot. In addition to providing a more optimal location for its employees, the site is closer to the interstates. David Bercu and Brendan Green of Colliers International represented the building owner, Northern Builders. Brian Bocci of the firm represented Illinois Masonry Corp.
BEDFORD PARK, ILL. — Darwin Realty & Development Corp. has arranged the sale of a 437,910-square-foot industrial facility in Bedford Park, a suburb of Chicago. The property is located at 7035 W. 65th St. The buyer, Professional Freezing Services, is relocating and expanding from its current location on 44th St. in Chicago. The firm plans to demolish the existing facility in Bedford Park and build a new, state-of-the-art, 150,000-square-foot freezer/cooler facility on the site, which is in close proximity to I-55 at Harlem and 1st avenues. Adam Haefner and George Cibula of Darwin represented both the buyer and the private seller.
CHICAGO — Jones Lang LaSalle Income Property Trust Inc. has acquired a six-story, 366-stall parking garage known as Ohio Ontario Self Park in Chicago for $16.9 million. The parking garage is a component of the mixed-use development located at 33 W. Ontario Street in Chicago’s River North area. The development includes a 59-story, 364-unit condominium tower with its own deeded parking and ground level retail. In conjunction with the acquisition, JLL Income Property Trust entered into a lease with a subsidiary of Imperial Parking, a firm founded in Vancouver in 1962.