Tuesday, November 4, 2025
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AcquisitionsIllinoisMidwestRetail

JLL Brokers $17.3M Sale of Whole Foods-Occupied Retail Property in Metro Chicago

by Kristin Harlow

ST. CHARLES, ILL. — JLL Capital Markets has brokered the $17.3 million sale of a freestanding retail property occupied by Whole Foods in the western Chicago suburb of St. Charles. The newly renovated building features a 20-year NN lease with the tenant. The property was formerly home to Blue Goose Market, a grocer that operated at the site for nearly a century as downtown St. Charles’ only grocery store. Alex Sharrin, Mohsin Mirza and Torri Rosene of JLL represented the sellers, Swanson Development Group and Fort Union. The buyer was an affiliate of Benenson Capital Partners.

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DevelopmentIllinoisIndustrialMidwest

Opus Breaks Ground on 52,174 SF Build-to-Suit Facility for Elgin Recycling in Gilberts, Illinois

by Kristin Harlow

GILBERTS, ILL. — Opus has broken ground on a 52,174-square-foot build-to-suit facility for Elgin Recycling in Gilberts, about 50 miles northwest of Chicago. The project will be part of Turnberry Lakes Business Park, where Elgin Recycling’s headquarters and one its four Chicago-area recycling scrap yards are also located. Elgin Recycling is a family-owned operation that processes ferrous and non-ferrous metals, exotic alloys and electronics. The new Gilberts location will process recycled electronics from public drop-off facilities, breaking them down into components that will then be transported to electronics components recyclers. The Gilberts facility will feature a clear height of 28 feet, six dock doors, two drive-in doors and up to 58 vehicle parking stalls. Opus is the design-builder for the project and is working in partnership with Architects Plus Design Studio PLLC, the architect of record, and Structural Integrity Inc., the structural engineer of record. Completion is slated for January.

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Build-to-RentIllinoisLoansMidwestSingle-Family Rental

Lynd Receives $64M Loan for Refinancing of Build-to-Rent Property in Metro Chicago

by Kristin Harlow

OSWEGO, ILL. — Lynd Development Group, a division of The Lynd Group, has received a $64 million loan from Starwood Capital to refinance Home at Ashcroft, a 178-unit, luxury build-to-rent community in the western Chicago suburb of Oswego. The new financing replaces a $66 million construction loan provided by Delaware Life and Steeprock Capital. Construction began in 2022 and is now complete. The property is more than 82 percent occupied. Home at Ashcroft features three-bedroom, single-story homes averaging 1,775 square feet. Each residence includes a two-car garage and covered patio. Monthly rents range from $2,800 to $4,000. Amenities include a clubhouse, pool, fitness center, game room, private library, grilling stations, dog park and landscaped walking trail.

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DevelopmentIllinoisMidwestMultifamily

Continental Properties Completes 336-Unit Apartment Development in South Elgin, Illinois

by Kristin Harlow

SOUTH ELGIN, ILL. — Continental Properties has opened Authentix South Elgin, a 336-unit, garden-style apartment community in South Elgin. Located at 1300 N. Lancaster Road, the property features a mix of studio, one-, two- and three-bedroom units. Amenities include a resort-style pool, community clubhouse with a coffee bar, outdoor grill area, 24-hour fitness center, two pet playgrounds and a pet spa. Authentix Apartments, owned and operated by Continental Properties, is a national brand of garden-style communities.

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IllinoisLeasing ActivityMidwestRetail

Four New Retail Tenants Sign Leases at Deer Park Town Center in Suburban Chicago

by Kristin Harlow

DEER PARK, ILL. — Four new retail tenants have signed leases to open at Deer Park Town Center in the Chicago suburb of Deer Park. LaserAway, now open, occupies an 1,819-square-foot store next to Sleep Number and offers laser hair removal technology and treatments. Eye care retailer Warby Parker will open in November. The 2,512-square-foot store is currently under construction and located near Banana Republic. Also opening in November, American Eagle will occupy 5,800 square feet. The space next to Bath & Body Works is currently under construction. Toastique, opening in winter 2025, serves gourmet toast, juice and coffee. The 1,400-square-foot restaurant will be the first Illinois location for the brand. Managed by JLL, Deer Park Town Center is an outdoor lifestyle shopping center that is home to more than 60 retail, restaurant and service brands.  

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AcquisitionsIllinoisMidwestMultifamily

Essex Realty Group Arranges $11.1M Sale of Chicago Apartment Building

by Kristin Harlow

CHICAGO — Essex Realty Group LLC has arranged the $11.1 million sale of 2407 W. Eastwood Avenue, a 40-unit apartment building in Chicago’s Lincoln Square neighborhood. Completed in 2017, the property features ground-floor retail space and studio and one-bedroom apartments. Amenities include garage parking, bike storage and shared laundry facilities. Jim Darrow and Jordan Gottlieb of Essex represented the undisclosed seller.

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IllinoisIndustrialLeasing ActivityMidwest

Brown Commercial Group Negotiates 53,854 SF Industrial Lease in Hoffman Estates, Illinois

by Kristin Harlow

HOFFMAN ESTATES, ILL. — Brown Commercial Group has negotiated a 53,854-square-foot industrial lease at 2685 N. Eagle Way in the Chicago suburb of Hoffman Estates. The tenant, FCA Packaging, is expanding into an additional location in Chicagoland. Candace Scurto of Brown Commercial represented FCA Packaging, which provides customized packaging products and services for businesses in the warehouse and logistics sectors. The leased space is within the Ninety Logistics Center, which features I-90 tollway visibility and connectivity to the O’Hare submarket. Mike Sedjo and Ben Dickey of CBRE represented the landlord, Brennan Investment Group.

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AcquisitionsIllinoisMidwestRetail

Red Mountain Group Sells 548,000 SF Shopping Center in Algonquin, Illinois

by Kristin Harlow

ALGONQUIN, ILL. — Red Mountain Group Inc. has sold Algonquin Commons, a 548,000-square-foot retail power center in the Chicago suburb of Algonquin. Nuveen Real Estate was the buyer. Located along Randall Road, Algonquin Commons is home to tenants such as Trader Joe’s, The Fresh Market, Nordstrom Rack, Bob’s Furniture, Ulta Beauty, Old Navy, Dick’s Sporting Goods and Barnes & Noble. Red Mountain Group has focused on repositioning and restabilizing the center since its acquisition. Occupancy increased from 60 percent to more than 90 percent. Bill Bauman of Newmark represented Red Mountain Group in the sale.

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AcquisitionsIllinoisIndustrialMidwest

Premier Commercial Realty Arranges $2M Sale of Industrial Portfolio in Crystal Lake, Illinois

by Kristin Harlow

CRYSTAL LAKE, ILL. — Premier Commercial Realty has arranged the $2 million sale of a six-building industrial portfolio in the Chicago suburb of Crystal Lake. Totaling nearly 40,000 square feet, the multi-tenant properties were built by John Yazel in the 1970s. Bruce Kaplan and Heather Schweitzer of Premier brokered the transaction. An Indiana-based investor purchased the portfolio with plans to make necessary improvements and lease up any vacant spaces.

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AcquisitionsIllinoisIndustrialMidwest

Alterra IOS Acquires 2.8-Acre Industrial Outdoor Storage Property in Metro Chicago

by Kristin Harlow

ELMHURST, ILL. — Alterra IOS has acquired a 2.8-acre industrial outdoor storage (IOS) property with more than 35,000 square feet of accompanying warehouse space in the Chicago suburb of Elmhurst. Located at 216 W. Diversey Ave., the asset includes designated office space and is fully leased to a heavy-duty truck company. Situated 10 miles southwest of the Chicago O’Hare International Airport, the property offers convenient access to Chicago and the greater Midwest with direct connectivity to I-290, I-294 and Route 20. Alessandra Bianchi of ONE Commercial Real Estate represented Alterra in the acquisition. As of third-quarter 2025, Alterra has acquired more than 390 properties in 37 states.

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