CHICAGO — NelsonHill has arranged the $2.8 million sale of a 100,000-square-foot building in Chicago’s Jefferson Park neighborhood. The Chicago Transit Authority (CTA) purchased the property located at 5353 W. Armstrong Ave. CTA will use the site to expand its area bus depot. The property features three interior docks, one exterior dock and one drive-in door. The building is situated on nearly four acres, is located in the Elston/Armstrong TIF Corridor, and is in close proximity to the I-90 and I-94 expressways. Mark Nelson and Michael Nelson of NelsonHill represented the seller, a New York-based cab company. Hugh Murphy of JLL represented the CTA.
BELLEVILLE, ILL. — IMPACT Strategies will oversee the construction of a new $1.1 million addition to an existing manufacturing facility in Belleville. Chelar Tool & Die Inc. is expanding its headquarters with a 12,000-square-foot addition to its existing manufacturing shop. Construction began in mid-October and is scheduled for completion in February 2015. IMPACT Strategies is building a single-story, pre-engineered metal building with equipment used for making progressive and non-progressive metal stamping dies, metal stampings, specialty precision machinery and Blanchard grinding. Fairview Heights, Ill.-based EWR Associates Inc. is providing architectural services for the project.
CHICAGO — The Boulder Group has arranged the $7.1 million sale of a Gino’s East restaurant property in Chicago. The asset is located at 500 N. LaSalle St. in Chicago’s River North neighborhood. The three-story, 17,400-square-foot building is constructed of brick, wood and masonry. Gino’s East recently invested $1 million for tenant improvements to the building. The property is a relocation of the restaurant’s former flagship location in the area. There are nine years remaining on the Gino’s East lease, which expires in July 2023. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, Frontline Real Estate Partners. Matthew Berres of JLL represented the buyer, an affiliate of a Midwest-based real estate investment fund.
CHICAGO — J.C. Anderson Inc. has completed an office expansion and renovation in Chicago for Mosaic, a sales and marketing agency. The property is located at 750 N. Orleans St. in Chicago. J.C. Anderson completed a 4,000-square-foot expansion and renovation at its office space in the River North neighborhood. The first phase of the project included expanding the sixth floor space into the adjacent office space. The second phase of the project included renovating the existing space to create an open floor plan with collaboration spaces, an exercise room and private offices. William Burfeind of J.C. Anderson was the project executive, Jason Hawkins was the senior project manager and Jose Verduzco was the superintendent for the project. IHL provided architectural services and CRESA was the project manager. Mosaic is headquartered in Dallas with offices in Chicago and Bentonville, Ark.
CHICAGO — Reed Construction will complete a 35,500-square-foot office renovation for SVM at 3727 Ventura Drive in Arlington Heights. Founded in 1997, SVM handles the sales, marketing and distribution of gift cards for major gasoline companies. The firm is relocating its headquarters to Arlington Heights from 200 E. Howard Ave. in Des Plaines. The construction will consist of demolition, the addition of office space, a new secure vault as well as a mezzanine conference room including a steel structure suspended from existing crane rails. Reed Construction’s Bryan Krueger is the principal for the project and Dan Cohen is the project manager. Wefing Deegan Studios is providing the architectural services. The project is scheduled for completion in January 2015.
OAKBROOK TERRACE, ILL. — Marcus & Millichap has arranged the $2.2 million sale of a 2,650-square-foot, net-leased property occupied by Starbucks in Arlington Heights, a northwest suburb of Chicago. The property is located at 1808 S. Arlington Heights Road. The building includes a drive-thru. The location is a retrofit of an existing building that includes a new 10-year corporate lease with Starbucks Corp. Austin Weisenbeck, Aaron Baum and Sean Sharko of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a local developer.
CHICAGO — Interra Realty has arranged the $2.5 million sale of a renovated 12-unit mixed-use property in Chicago. The property is located at 3023 W. Diversey Blvd. in the Logan Square neighborhood. Upgrades at the building include stainless steel appliances, granite countertops, oak floors and modern cabinetry. The building includes eight two-bedroom, two three-bedroom units, and two commercial spaces occupied by an art studio and a farm-to-table restaurant. Brad Feldman of Interra Realty represented both the undisclosed buyer and seller.
MINOOKA, ILL. — An 83-room Hampton Inn & Suites is set to open in Minooka, located approximately 12 miles southwest of Joliet. Blair Road Hotel Associates LLC is developing the $12 million project, which is a collaboration between Kinseth Hospitality, American Construction Services, Doug Bean Development and Marquette Properties Inc. The Hampton Inn & Suites, located at 621 Bob Blair Road, is the first hotel in Minooka and is expected to be open in fall 2015.
BOLINGBROOK, ILL. — Renovations are underway on a freezer/cooler project for Eastland Foods in Bolingbrook. Peak Construction Corp. is making improvements to a 4,282-square-foot freezer/cooler space at the company’s Illinois facility located at the Panattoni building. Construction began on Oct. 1. Project enhancements include a new 3,522-square-foot freezer/food storage area and a 760-square-foot cooler storage space. The project is scheduled for completion by the end of the year. Harris Architects and Climate Pros Refrigeration are assisting with the project. Eastland Food imports and distributes food products from Southeast Asia. The company is headquartered in Maryland, but operates other locations in Illinois, Florida and California.
CHICAGO — Golub & Co., in a partnership with Boston-based Alcion Ventures, has acquired Oak Brook Executive Plaza, a 389,000-square-foot office in Oak Brook, a Chicago suburb. Bank of America provided financing for the transaction. The purchase price was undisclosed, but according to Crain’s Chicago the joint venture agreed to pay about $57 million, or $150 per square foot, for the property. The office complex is located on West 22nd St. across from Oak Brook Center Mall and is visible from I-88. Chicago-based Golub and Alcion plan to reposition the property as high-quality office space for corporate and creative firms. The redevelopment plans include enhanced curb appeal, updated office interiors and common areas and new tenant amenities.