Wednesday, May 14, 2025
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AcquisitionsIllinoisIndustrialMidwest

Entre Commercial Realty Brokers Sale of 42,901 SF Industrial Building in Spring Grove, Illinois

by Kristin Harlow

SPRING GROVE, ILL. — Entre Commercial Realty has brokered the sale of a 42,901-square-foot industrial building in Spring Grove, a city in northeast Illinois. The sales price was undisclosed. Located at 2503 Spring Ridge Road, the two-story facility features a clear height of 18 feet, one dock and eight drive-in doors. Elisabeth Lazzara, Mike DeSerto and Cory Kay of Entre represented the buyer, KBI Custom Case, which intends to renovate both the office and warehouse areas while utilizing half of the property as its new headquarters. The company specializes in millwork and casework for the commercial sector. Dawn Koenigseder of Berkshire Hathaway Starck Real Estate represented the undisclosed seller.

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AcquisitionsIllinoisLee & AssociatesMidwestRetail

Lee & Associates Negotiates $1.2M Sale of Retail Strip Center in Lake Zurich, Illinois

by Kristin Harlow

LAKE ZURICH, ILL. — Lee & Associates has negotiated the $1.2 million sale of Deertrail Court, a 9,800-square-foot retail strip center in the northwest Chicago suburb of Lake Zurich. Built in 1980, the property is located at 884 S. Rand Road. Tenants include Eye Level Learning Center, Mimi Nails, Nova Care Rehabilitation, Rush Physical Therapy and Sake Sush & Grill. Rick Scardino and Michael Petrik of Lee & Associates represented the undisclosed seller. Adam Foret of CBRE represented the buyer, N.D.C.V.G. Properties LLC.

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Fulton-Park-Campus_Chicago
DevelopmentIllinoisLife SciencesMidwestMixed-UseMultifamilyOfficeTop Stories

Trammell Crow Co. Plans 1.8 MSF Fulton Park Mixed-Use Campus in Chicago

by Hayden Spiess

CHICAGO — Trammell Crow Co. (TCC) has unveiled plans for a 1.8 million-square-foot mixed-use project in Chicago’s Fulton Market neighborhood. Dubbed Fulton Park Campus, the development will include four buildings comprising research and development (R&D), lab, office, residential and retail space.  Among the new buildings will be a 34-story residential tower, known as Flora, which will comprise 368 apartment units. Amenities at Flora will span three floors and include a club room; golf and game simulator room; fitness center and yoga studio; spa; sauna; and a dedicated work-from-home area with a sound recording booth. Additionally, the property will feature an outdoor deck with grilling stations, televisions and fire pits; a private dining space with a chef’s kitchen; and a pet wash and dog run. ESG Architects designed the residential building, which general contractor Power Construction will build. Leasing is scheduled to begin this summer.  At 1105 W. Carroll, TCC will develop a 26-story commercial tower featuring 660,000 square feet of lab and office space. Upon completion, the building will offer floorplates from 19,000 to 40,000 square feet, with 17-foot ceiling heights on select floors, private balconies and advanced technical infrastructure. Amenities will include a fitness center with an indoor pickleball …

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DevelopmentIllinoisIndustrialMidwest

Contegra Construction to Build 100,000 SF Manufacturing Plant for Manner Polymers in Mount Vernon, Illinois

by Kristin Harlow

MOUNT VERNON, ILL. — Contegra Construction is building a 100,000-square-foot, solar-powered manufacturing plant for Manner Polymers in Mount Vernon, a city in southern Illinois. Contegra expects to complete the project in November, with the plant scheduled to be fully operational by fall 2025. Manner Polymers will use the facility to manufacture flexible PVC compounds. The property will be powered by both a roof-mounted solar array and a 15-acre solar field located on site immediately adjacent to the plant. According to Contegra, the project will expand Manner’s production capacity by 100 million pounds and is projected to create 60 new jobs. The rail-served facility offers convenient access to I-57 and I-64. Additional building features include 11 dock doors, three drive-through doors, a 55-foot tower with a three-level production platform and 5,000 square feet of office space. The project team includes Gray Design Group, Alper Audi, Jarrell Mechanical, Haier Plumbing, Bi-State Fire Protection and Clinton Electric.

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AcquisitionsIllinoisMidwestMultifamily

Kiser Group Brokers $4M Sale of Multifamily Property in Chicago’s West Town

by Kristin Harlow

CHICAGO — Kiser Group has brokered the sale of a fully leased multifamily property in Chicago’s West Town neighborhood for nearly $4 million. The four-building asset was renovated in 2019. Noah Clark and Jack Petrando of Kiser Group brokered the sale. The locally based buyer is assuming the loan on the property.

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AcquisitionsHospitalityIllinoisMidwest

Marcus & Millichap Arranges Sale of 86-Room Holiday Inn Express Hotel in Lake Zurich, Illinois

by Kristin Harlow

LAKE ZURICH, ILL. — Marcus & Millichap has arranged the sale of the Holiday Inn Express & Suites Lake Zurich-Barrington, an 86-room hotel in the northwest Chicago suburb of Lake Zurich. The sales price was undisclosed. The three-story property is located at 197 S. Rand Road. Amenities include an indoor heated pool, breakfast area and fitness center. Ebrahim Valliani and Michael Klar of Marcus & Millichap represented the buyer and seller, both of which were private investors. Chris Gomes and Allan Miller of Marcus & Millichap were also listed on the deal as supporting brokers.

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IllinoisIndustrialLoansMidwest

PGIM Real Estate Provides $74.5M Acquisition Loan for Industrial Portfolio in Elwood, Illinois

by Kristin Harlow

ELWOOD, ILL. — PGIM Real Estate has provided a $74.5 million loan for the acquisition of a three-property industrial portfolio in Elwood, about 40 miles southwest of Chicago. The fully leased buildings total 1.7 million square feet and are located within the CenterPoint Intermodal Center. The properties feature access to the BNSF intermodal terminal. PGIM provided the fixed-rate financing on behalf of Stonepeak.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $12.7M Sale of Apartment Building in Chicago

by Kristin Harlow

CHICAGO — Interra Realty has brokered the sale of an apartment building located at 2827-2847 N. Clybourn Ave. in Chicago’s West Lakeview neighborhood for $12.7 million. The property features 30 apartment units and six commercial spaces. The residential portion was more than 95 percent occupied at the time of sale. The building features a heated indoor parking garage for 34 vehicles and an additional 12 exterior spaces for the commercial units. Brad Feldman of Interra represented the seller, a private local investor. Patrick Kennelly and Paul Waterloo of Interra represented the buyer, also a local investor. The buyer assumed the asset’s existing mortgage, which carries a 3 percent interest rate.

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Affordable HousingIllinoisLoansMidwestMultifamily

BWE Provides $8.3M Acquisition Loan for Affordable Housing Property in Waukegan, Illinois

by Kristin Harlow

WAUKEGAN, ILL. — BWE has provided an $8.3 million Fannie Mae loan for the acquisition of Brookstone Apartments in the Chicago suburb of Waukegan. Built in 1986, the garden-style affordable housing property features 168 units across four buildings. Of the total units, 50 are reserved for residents earning up to 50 percent of the area median income (AMI) and 110 are designated for residents earning up to 60 percent of AMI. Adam Gould of BWE originated the 10-year loan, which features 36 months of interest-only payments and a 30-year amortization secured by a first lien.

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AcquisitionsIllinoisIndustrialMidwest

Phoenix Closures Sells 113,124 SF Industrial Building in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Phoenix Closures Inc. has sold its former corporate headquarters and manufacturing facility located at 1899 Highgrove Lane in the Chicago suburb of Naperville. The buyer, Amerikoa Ingredients, is a natural and sustainable ingredients distributor that is relocating from Melrose Park. Built in the late 1970s, the 113,124-square-foot building features BNSF rail access. Jeff Blake of DarwinPW Realty/CORFAC International represented the seller, while Todd Heine of Colliers represented the buyer.

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