Sunday, February 23, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Illinois

AcquisitionsIllinoisMidwestRetail

Baum Realty Group Arranges Sale of 18,000 SF Retail Portfolio in Chicago

by Kristin Harlow

CHICAGO — Baum Realty Group LLC has arranged the sale of an 18,000-square-foot retail portfolio in Chicago’s Andersonville neighborhood for an undisclosed price. Wayland Real Estate Capital purchased the buildings, which are located at the northwest corner of Clark Street and Berwyn Avenue. The portfolio features four contiguous properties that are fully leased. Tenants include Starbucks, Potbelly Sandwich Works, Jeni’s Splendid Ice Creams, Ranalli’s of Andersonville, AlleyCat Comics and Lonesome Rose. The weighted average lease term is nearly eight years. Ari Topper, Tyler Dechter and Owen Wiesner of Baum represented the seller, a local investor.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestMultifamily

Interra Realty Negotiates Sales of Two Multifamily Properties in Chicago for $4.7M

by Kristin Harlow

CHICAGO — Interra Realty has negotiated the sales of two multifamily properties in Chicago for a total of $4.7 million. A 16-unit building at 6405 N. Wayne Ave. in the Rogers Park neighborhood sold for $3.4 million and a five-unit rental property at 1933 S. May St. in the Pilsen neighborhood traded for $1.3 million. Brad Feldman of Interra represented both the buyer of 6405 N. Wayne, a Chicago-based private investor, and the seller, a local real estate partnership that Feldman also represented in the original acquisition in 2022. Feldman and colleague Jeremy Morton represented both the confidential seller of 1933 S. May and the seller, a local developer. Located within walking distance of Loyola University and originally constructed in 1929, 6405 N. Wayne was significantly refurbished in 2022. The property at 1933 S. May received a gut renovation in 2021. Both buildings were fully leased at the time of sale.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestMultifamilyStudent Housing

JLL Arranges Sale of 524-Bed Student Housing Community Near University of Illinois Urbana-Champaign

by Kristin Harlow

URBANA, ILL. — JLL Capital Markets has arranged the sale and financing of Campus Circle, a 524-bed student housing community in Urbana near the University of Illinois Urbana-Champaign. Scott Clifton, Kevin Kazlow and Jack Goldberger of JLL represented the seller, an affiliate of Blue Vista Capital Management LLC. Jake Wisness, Dan Kearns, Mike Brady, Sam Tarter and Bill Maloney of JLL originated a five-year, fixed-rate acquisition loan through Freddie Mac on behalf of the buyer, Horizon Realty Advisors. Campus Circle, located at 1010 W. University Ave., is within walking distance of the College of Engineering and the university’s Main Quad.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestMultifamily

Kiser Group Negotiates $17.4M Sale of Chicago Multifamily Property

by Kristin Harlow

CHICAGO — Kiser Group has negotiated the $17.4 million sale of 5411 N. Winthrop, a multifamily property in Chicago’s Edgewater neighborhood. The asset, which was 99 percent occupied at the time of sale, underwent a full renovation in 2013. Jacob Price and Katie LeGrand of Kiser brokered the sale. Chicago-based Becovic Residential was the buyer. The property went under contract within a month of listing.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of Fresh Market-Occupied Retail Property in Chicago’s Lincoln Park

by Kristin Harlow

CHICAGO — Mid-America Real Estate Corp. has brokered the sale of a 17,706-square-foot retail property occupied by The Fresh Market in Chicago’s Lincoln Park neighborhood. The sales price was undisclosed. The grocery store is located at the corner of Halsted Street and Diversey Parkway. Joe Girardi and Nick Kohlmann of Mid-America represented the seller, and the asset sold to a private buyer.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisLeasing ActivityMidwestRetail

Three New Retailers Join Tenant Lineup at East Court Village in Pekin, Illinois

by Kristin Harlow

PEKIN, ILL. — Ross Dress for Less, Marshalls and Five Below have joined the tenant lineup at East Court Village in Pekin, about 10 miles south of Peoria. The retailers are slated to open in fall 2025. East Court Village, owned by Cullinan Properties, is currently undergoing significant upgrades and improvements.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisIndustrialMidwest

Core Industrial Realty Arranges Sale of 356,000 SF Industrial Property in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Core Industrial Realty has arranged the sale of a 356,000-square-foot industrial property located at 2200 Sullivan Road in Aurora. The speculative building was developed by Panattoni in 2022 and was 75 percent leased at the time of sale. There are two tenants with leases totaling 260,000 square feet. Total consideration for the project, inclusive of both lease transactions and the sale of the building, exceeded $70 million. Noel Liston and Nick Krejci of Core brokered the sale. The buyer, Ares Management Corp., has retained Core as the leasing agent for the property.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisIndustrialMidwest

Contegra Construction Completes 75,000 SF Office, Distribution Center in Metro St. Louis

by Kristin Harlow

COLLINSVILLE, ILL. — Contegra Construction Co. has completed Eastport Commerce Center, a 75,000-square-foot office and distribution center in Collinsville, a northeast suburb of St. Louis. BHMG Engineers has leased 25,000 square feet at the property. The space replaces BHMG’s existing 5,000-square-foot office at 1902 Vandalia St. in Collinsville. The building features a clear height of 28 feet, four dock doors, three drive-in doors and 160 parking spaces.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisIndustrialMidwest

Krusinski Construction Renovates 33,000 SF Industrial Facility in Bensenville, Illinois

by Kristin Harlow

BENSENVILLE, ILL. — Krusinski Construction Co. has completed an industrial redevelopment project for developer Dayton Street Partners in the Chicago suburb of Bensenville. Krusinski revitalized an existing building by completing selective demolition and enhancing the space with a more efficient layout. The original facility was converted into a 33,000-square-foot terminal with 37 newly installed dock doors and an attached 2,000-square-foot, two-story office. The interior refresh included new bathrooms, flooring, paint and mechanical, electrical and plumbing upgrades. Krusinski also completed upgrades to the storm systems, installed new concrete aprons and performed select paving improvements. The project team included Space Co and A+M Architects.   

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestMultifamily

Berkadia Negotiates $27M Sale of Multifamily Property in Chicago’s Gold Coast

by Kristin Harlow

CHICAGO — Berkadia has negotiated the $27 million sale of 1344 North Dearborn, a 94-unit multifamily property in Chicago’s Gold Coast neighborhood. Built in 1967, the asset had been converted into individual condominiums but then de-converted back to a fully rental community. Ralph DePasquale of Berkadia represented the seller, Illinois-based Ravinia Capital Group. The buyer was Bill Silverstein, owner of Beal Properties. The building was 95 percent occupied at the time of sale.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts