Illinois

The Habitat Co. Awarded Management of 1000 S. Clark Development in Chicago

by Jonathan Mehall August 26, 2015

CHICAGO — The Habit Company has been awarded the property management contract for 1000 South Clark, a 469-unit luxury apartment tower currently under construction in Chicago’s South Loop neighborhood. The 29-story apartment tower will offer studio, one, two, and three-bedroom residences, with individual units ranging from 505 to 2,112 square feet. Units will feature luxury finishes including high ceilings, panoramic lake and city views, custom kitchen cabinetry and Quartz countertops, stainless steel Whirlpool appliances, custom bathroom vanities with tile bath and shower surrounds, plank flooring, elegant interior lighting and full-size washers and dryers. 1000 South Clark will offer more than 43,000 square feet of amenity space including a 20,000-square-foot outdoor terrace with grilling stations, an enclosed indoor pool and rooftop running track, a 10,000-square-foot fitness center, basketball and racquetball courts, virtual golf simulator and putting area. Designed by Hartshorne & Plunkard, 1000 South Clark is a joint venture project between JDL Development LLC and New York-based iStar. The building is slated for delivery in early 2016.

August 26, 2015

Illinois Industrial Midwest

C&W Brokers 361,000 SF Industrial Lease for Swap.com in Bolingbrook, Ill.

by Jonathan Mehall August 26, 2015

BOLINGBROOK, ILL. — Cushman & Wakefield has arranged a 361,000-square-foot industrial lease for online retailer Swap.com in Bolingbrook. The property, owned by Prologis Inc., is located at 850 Veterans Parkway in Bolingbrook. The long-term lease marks the second major expansion for Swap.com since its founding in 2013. Swap.com previously occupied a smaller footprint in a separate ProLogis building. Situated on the north side of I-55 between Route 53 and Weber Road, the asset provides 30-foot clear height ceilings, ESFR sprinklers, heavy power, 37 exterior loading docks, four drive-in doors, and parking for 224 cars and 321 trailers. Swap.com offers a selection of pre-owned baby, kid’s, maternity and women’s apparel and accessories. Jason West of Cushman & Wakefield represented Swap.com. in the transaction. Jim Estus of Colliers International represented Prologis.

August 26, 2015

Illinois Industrial Midwest

Paine/Wetzel Arranges 12,031 SF Industrial Lease Renewal in Chicago

by Jonathan Mehall August 26, 2015

ITASCA, ILL. — Paine/Wetzel TCN Worldwide has arranged a 12,031-square-foot industrial lease renewal for United Global Logistics in Itasca, about 27 miles northwest of Chicago. The property is located at 1475 Thorndale Ave. The space features eight exterior docks and 25 trailer spots. Inc. Magazine named United Global Logistics as one of the top 5,000 fastest growing private companies in the country. Phil Reiff Jr. and Sr. of Paine/Wetzel represented United Global Logistics in the transaction.

August 26, 2015

Hospitality Illinois Midwest

Boulder Group Brokers $5.3M Sale of Net Leased Hospice in Naperville, Ill.

by Jonathan Mehall August 25, 2015

NAPERVILLE, ILL. — The Boulder Group has brokered the $5.3 million sale of Seasons Hospice Inpatient Center, located at 2195 West Diehl Road in Naperville. The 10,342-square-foot hospice has eight years left on its lease before it expires in January 2023. The lease features annual rental escalations and no landlord responsibilities. As a result of the aging population in the United States, the hospice industry is poised for future growth, according to the Boulder Group. By 2030, 20 percent of all Americans will be age 65 or older. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private real estate corporation, and the buyer, a California-based 1031 exchange investor, in the transaction.

August 25, 2015

Illinois Industrial Midwest

Darwin Realty Arranges Sale of 48,663 SF Industrial Building in Glendale Heights, Ill.

by Jonathan Mehall August 25, 2015

GLENDALE HEIGHTS, ILL. — Darwin Realty has arranged the sale of a 48,663-square-foot industrial building, located at 999 Regency Drive in Glendale Heights, for an undisclosed price. The facility is situated on 4.8 acres of land within the High Grove East Business Park in DuPage County. Property features include 9,000 square feet of office space, 18-foot clear ceiling heights, one interior truck dock, one drive-in door and 80 parking spaces. Richard G. Daly of Darwin Realty represented the buyer, Robert Weisheit Co., which acquired the property for the expansion and relocation of its manufacturing business. Jeff Fischer, Joe Bronson, and Howard Bergdoll of NAI Hiffman represented the seller, LaVezzi Precision Inc.

August 25, 2015

Civic Illinois Midwest

J.C. Anderson to Complete 14,000 SF Renovation of DePaul Education Buildings

by Jonathan Mehall August 24, 2015

CHICAGO — DePaul University has selected J.C. Anderson Inc. to complete a 14,000-square-foot build-out to DePaul’s Richard M. and Maggie C. Daley College of Communication and School for New Learning on the Loop Campus. The property is located at 247 S. State St. in Chicago. DePaul acquired the property in 2008. Renovations will include the addition of a theater, editing rooms, classrooms and office space to accommodate the College of Computing and Digital Media. Construction is scheduled for completion in September. Steve Boulukos and Joe Maguire will lead the construction team for J.C. Anderson Inc. Vasilko & Architects Associates will provide architectural services.

August 24, 2015

Illinois Midwest Office

Essex Brokers Sale of 15,900 SF Office Building for $2.8M in Chicago

by Jonathan Mehall August 24, 2015

CHICAGO — Essex Realty Group Inc. has brokered the $2.8 million sale of a 15,900-square-foot office building located at 617 W. Fulton St. in Chicago. The property is situated on the south side of Fulton Street, between Desplaines Street and Jefferson Street, and located less than one quarter-mile from the CTA Clinton station on the Green Line and one-half mile from the CTA Grand station on the Blue Line. Matt Welke and Jason Fishleder of Essex Realty Group Inc. represented the buyer, Fulton & Ogden LLC, and seller, MG Fulton Partners LLC, in the transaction.

August 24, 2015

Illinois Loans Midwest Office

Philipsborn Arranges $4M Refinancing for Office Property in Deerfield, Ill.

by Jonathan Mehall August 21, 2015

DEERFIELD, ILL. — The Philipsborn Co. has arranged $4 million in first mortgage financing for an 81,550-square-foot, multi-tenant office building located at 707 Lake Cook Road in Deerfield, a northern suburb of Chicago. Ameritas Investment Partners provided the 21-year, fixed-rate, self-amortizing refinancing loan. Constructed in 1979, the three-story office building is located in the north village’s corporate business corridor and is currently 80 percent leased. David Kubert of Philipsborn represented the lender and the borrower, an Illinois-based limited liability company.

August 21, 2015

Illinois Midwest Mixed-Use

Nordic Realty Partners Closes on Purchase of Three-Story, Mixed-Use Property in Chicago

by Jonathan Mehall August 20, 2015

CHICAGO — Nordic Realty Partners LLC has closed on the acquisition of a three-story mixed-use property located at 3824 N. Clark St. in Chicago’s Wrigleyville neighborhood. Nordic Realty Partners originally purchased the property for an undisclosed price. Properties in the Wrigleyville area are becoming more attractive and desirable due to the $575 million 1060 Project underway at Wrigley Field. 1060 Project is a four-year, four-phase renovation plan for Wrigley Field set forth by the Chicago Cubs management. Nordic Realty Partners LLC represented the undisclosed buyer and Beaulieu Real Estate represented the undisclosed seller.

August 20, 2015

Illinois Midwest Multifamily

Marcus & Millichap Brokers Sale of Apartment Building in Ottawa, Ill. for $1.8M

by Jonathan Mehall August 20, 2015

OTTAWA, ILL. — Marcus & Millichap has brokered the sale of a 48-unit apartment property for $1.8 million located at 600-606 E. McKinley Rd. in Ottawa, approximately 80 miles south of Rockford, Ill. Willow Crossing Apartments features mostly two-bedroom units, with individual gas furnaces and water heaters for each unit. The property also includes a lot zoned for a third, 24-unit building. Jim Walsh represented the buyer and seller, both of which were individuals/personal trusts.

August 20, 2015

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