CAROL STREAM, ILL. — Brown Commercial Group has negotiated the sale of a 50,632-square-foot industrial building in the Chicago suburb of Carol Stream for an undisclosed price. IP Automation Inc. purchased the facility at 400 E. Fullerton Ave. for its new headquarters. The company plans to relocate from its existing location in Downers Grove this year. Mike Antonelli of Brown represented the buyer as part of a two-year site selection and market analysis that included evaluating existing buildings as well as new construction opportunities throughout the Chicago market. Savills represented the undisclosed seller.
WEST CHICAGO, ILL. — NAI Hiffman has arranged the $4.2 million sale of a 4-acre industrial outdoor storage property at 2351 Powis Road in West Chicago. The asset includes 11,000 square feet of shop/fabrication space in two buildings, a concrete yard, mobile office trailer and truck scale. Kelly Disser, Michael Freitag, Bill Byrne and TJ Feeney of NAI Hiffman represented the seller, a private investor group. The Disser/Freitag team also brokered the September 2023 sale, when the property traded for $2.4 million. Constructed in 1993, 2351 Powis Road is zoned for office, research and light industrial uses with a planned unit development overlaid that permitted certain outdoor storage uses. The buyer is relocating from Villa Park, Ill.
CHICAGO — Glenstar and a high-net-worth private investor have acquired 200 South Wacker, a 40-story office tower in Chicago’s West Loop. According to Crain’s Chicago Business, the duo bought a non-performing $151 million loan backed by the property from lender Bank of China and simultaneously took control of the building from Toronto-based owner Manulife Financial via a deed-in-lieu of foreclosure. The news outlet also reports that the purchase price was close to $68 million. Designed by Harry Weese Associates and constructed in 1981, the building totals 761,775 square feet. Glenstar has taken over as the building’s asset and property manager, and The Telos Group will serve as the leasing agent. Glenstar and its equity partner are allocating approximately $30 million to build fully furnished move-in ready spec suites, modernize common areas, enhance amenities and fund other capital improvements. Current amenities include a rooftop deck, tenant lounge, conference center, fitness facility and a Mojo Coffee shop in the lobby.
HOFFMAN ESTATES, ILL. — Colliers has negotiated a 35,000-square-foot headquarters lease for Arjo North America, a supplier of medical devices, at Bell Works Chicagoland in Hoffman Estates. Arjo will relocate from 62,000 square feet at 2349 W. Lake St. in Addison when it moves in the fourth quarter. David Burden, Tom Beraducci and Andy Gooliak of Colliers represented the tenant, while Darryl Silverman and Steve Kling of Colliers represented ownership. Bell Works Chicagoland is the redevelopment of the former AT&T headquarters property, which totals 1.6 million square feet and was built in 1990. AT&T vacated the asset in 2016.
ELMHURST, ILL. — FlashCo Manufacturing Inc., a manufacturer of roof flashings and accessories, has signed a 20,987-square-foot industrial lease at 849 N. Church Court in the Chicago suburb of Elmhurst. The institutionally owned and managed building in DuPage County is located less than one mile from access to I-290 and I-294 via Lake Street and Route 83. Chris Nelson of Lee & Associates of Illinois represented the tenant, while Al Caruana of Cushman & Wakefield represented the owner, TA Realty.
WHEATON, ILL. — JLL Capital Markets has arranged $41.6 million in financing for Danada Square West, a 314,819-square-foot shopping center in the Chicago suburb of Wheaton. Constructed in 1988, the grocery-anchored property was 92.7 percent leased at the time of the loan closing. The anchor tenant, Jewel-Osco, has occupied space at the property for over 37 years. Additional retailers include TJ Maxx, HomeGoods, Burlington, The Paper Store, Ulta and Five Below. Scott Aiese, Christopher Knight and Alex Staikos of JLL arranged the five-year, fixed-rate loan on behalf of the borrower, DLC.
NAPERVILLE, ILL. — Marcus & Millichap has brokered the nearly $7 million sale of a 59,935-square-foot retail center in the Chicago suburb of Naperville. Built in 1988, the property is anchored by Dollar Tree and Anytime Fitness. Some of the tenants have operated at the center since its construction. Sean Sharko, Austin Weisenbeck and Adrian Mendoza of Marcus & Millichap represented the seller, 1550 State RTE 59 LLC, and procured the buyer, an out-of-state professional ownership group that was expanding its Illinois portfolio. Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged $5.1 million in acquisition financing through a regional bank.
VERNON HILLS, ILL. — PREMIER Design + Build Group has completed the new headquarters for Heathrow Scientific, a producer of laboratory supplies and instruments. The 113,000-square-foot facility in the Chicago suburb of Vernon Hills will serve as the central hub for the company’s manufacturing, laboratory and office operations. Following the demolition of an existing structure, PREMIER constructed the two-story building that features a large laboratory space dedicated to product design and quality control as well as an outdoor dining area. The project also includes 12 dock positions and two drive-in doors.
BUFFALO GROVE, ILL. — Lee & Associates of Illinois has negotiated the $4.2 million sale of a 51,088-square-foot industrial building in the Chicago suburb of Buffalo Grove. The property is located at 901 Deerfield Parkway. Tom Boyle of Lee & Associates represented the buyer, Paragon Micro Inc. Rick Hiton of Hiton & Associates represented the seller, Awaken CTTE LLC.
GLENVIEW, ILL. — PREMIER Design + Build Group has completed Phase I of The Logistics Campus, a master-planned industrial campus in Glenview developed by Dermody Properties. Phase I consists of more than 1.2 million square feet across five buildings, all of which achieved LEED Silver certification. There is capacity for over 2 million square feet for future phases. As part of the project, nearly 400 trees were dug up and moved to a temporary nursery. A local landscaping company replanted the trees as trails were built.