DEERFIELD AND WESTCHESTER, ILL. — Reed Construction has completed two build-outs for Arden Realty in the metro Chicago area. In the first project, Reed Construction completed a 2,500-square-foot renovation to the Star Lite Café within the Deerfield office property located at 520 Lake Cook Road. Construction featured the installation of a new ceiling and lighting as well as millwork cabinetry, point-of-sale stations and walk-in coolers. In the second project, Reed completed an interior build-out at Lifestart Fitness Center located at 2 Westbrook Corporate Center in Westchester. The project included a 1,100 square foot build-out of the existing space, which included the addition of a new locker room area with tile showers, solider surface vanities as well as new lockers. Reed’s Jason Gunderson was the principal and Jon Zawiski was the project manager for both Arden projects. Legat Architects provided architectural services for the projects.
Illinois
DEERFIELD, ILL. — Newmark Grubb Knight Frank (NGKF) has arranged the lease of 14,500 square feet at 500 Lake Cook Road in Deerfield. Market6, a provider of web-based retail collaboration applications, will occupy space within Corporate 500, a four-building office complex that includes more than 700,000 square feet of Class A office space. Market6 relocated to this space from a property at 9 Parkway North Blvd. in Deerfield. The firm also maintains an office in Cincinnati, Ohio. NGKF’s Brian Reaney and Paul Buckingham represented Market6 in the lease.
LAKE FOREST, ILL. — Marcus & Millichap has arranged the $4.3 million sale of The Fresh Market, a 16,491-square foot net-leased property located in Lake Forest. The Fresh Market is located at 850 N. Western Ave. The property underwent renovations in 2008 and 2009. Dominic Sulo, Sean Sharko and Austin Weisenbeck of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a private investor. Sharko, Weisenbeck and Adrian Mendoza, also of the firm’s Chicago Oak Brook office, represented the buyer, a limited liability company.
FAIRVIEW HEIGHTS, ILL. — L3 Corp. has arranged the lease of a 28,000-square-foot retail space in Fairview Heights. Fresh Thyme Markets will occupy space within the Fairview Heights City Centre located at 6569 N. Illinois St. Fresh Thyme Markets leased the space from Fairview Heights 881 Fee LLC. L3 Corp. represented the tenant in the transaction.
CHICAGO — @properties Commercial has arranged two retail leases at Westport Commons Shopping Center in Chicago’s Ashburn neighborhood. Westport Commons Shopping Center is located at 3302 W. 87th St. Greg Stein of Bialow Real Estate represented fashion retailer VILLA in a 10-year lease for 5,000 square feet of space. Todd Cabanban of Cabanban Rubin and Mayberry Commercial Realty represented Simply Fashions in a five-year lease for 3,500 square feet. The 180,000-square-foot shopping center is 96 percent leased. Mike Rourke of @properties Commercial represented Westport Associates LP in the two retail leases.
ROUND LAKE BEACH, ILL. — Lee & Associates has arranged the $12.7 million sale and purchase of an 87,000-square-foot Kohl’s store located at 230 E. Rollins in Round Lake Beach. Al Apuzzo of Lee & Associates – North San Diego County represented the buyer, Nipoti LLC, which purchased the property as part of a 1031 exchange. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County, and founders of Barr & Bennett Net Leased Investment Group, represented the seller, Cadillac-Sand Realty LLC. The buyer plans to hold the property indefinitely. Kohl’s has more than 10 years left on its lease.
EVANSTON, ILL. — The Dow Hotel Co. (DHC) has completed the $8.6 million renovation of the 269-room, Hilton Orrington/Evanston. The hotel is located at 1710 Orrington Ave., just north of Chicago in the North Shore district. All guest rooms and baths were completely renovated to include new carpeting, televisions, furniture, lighting, beds, bedding, showers and tiling. The hotel’s 12,000-square-foot conference center, as well as its additional 20,000 square feet of meeting space, which includes the famous Grand Orrington Ballroom, were also upgraded with new furniture, art and carpeting. The hotel public space also was reconfigured to create new private dining areas as well as new carpeting and lighting. DHC and The Carlyle Group’s Carlyle Realty Partners VI own the hotel. DHC will also operate the property. DHC is a hotel owner/investor and operator.
CHICAGO — Marcus & Millichap has arranged the $3.6 million sale of 1400 S. Michigan Ave., an 8,260-square-foot retail property in Chicago. The property sold at 92 percent of its original list price. Located in Chicago’s South Loop, the multitenant retail property is situated on the ground floor of a 455-unit luxury condominium tower. Tenants at the property include Waffles Chicago, Square One Bar and Sanctuary Music & Aesthetics audio design solutions. Sean Sharko, Alan Katamanin and Austin Weisenbeck of Marcus & Millichap’s Chicago Oak Brook office represented the seller and the buyer, both limited liability companies.
CHICAGO — @properties Commercial has brokered the $4.6 million sale of a three-story property at 630 W. Lake St., in Chicago’s West Loop neighborhood. Located on the northeast corner of Lake and Des Plaines streets, the property features a 12,000-square-foot timber loft building including a basement, a 6,500-square-foot one-story warehouse annex and a 1,500-square-foot parking lot. Grand Stage Lighting Co. currently occupies the property, but is in the process of relocating. Chicago-based Windy City RE LLC purchased the property and plans to redevelop it into a mixed-use residential and retail building. Michael Weber and Ian Feinerman of @properties Commercial represented the seller, Tybec LLC.
CHICAGO — Reed Construction has completed two build-outs at 303 E. Wacker Drive for Chicago Venture Partners (CVP) and Smithfield Foods. In the first build-out, CVP, a private equity investment firm, relocated its offices from the 12th floor to the 10th floor of this property. Reed Construction completed the 12,000-square-foot renovation, which included the addition of new open office areas with exposed painted deck ceilings, large meeting rooms, a break room and lounge area. In the Smithfield Foods build-out, the food company is relocating its Chicago offices to the 28-story East Loop property from its previous location at 111 E. Wacker Drive. Reed Construction completed the 6,000-square-foot renovation, which included adding new open office areas, large meeting rooms and perimeter offices. Reed Construction’s Jack Hennessy was the project executive and Jon Zawiski was the project manager for the projects. Eastlake Studio provided architectural services. Hines represented building ownership for both projects.