BLOOMINGTON, ILL. — TSR Concrete Coatings has signed a 40,000-square-foot industrial lease at 1601 General Electric Road, a 450,000-square-foot building in Bloomington. TSR is a subsidiary of ReVamp, a company that installs residential floor coatings and vinyl fences. TSR relocated to this larger facility as part of its expansion with ReVamp Fencing. Meghan O’Neal-Rogozinski of AXIS 360 Commercial Real Estate Specialists represented the tenant, while John Cleary of Marquette Realty & Consulting represented the undisclosed landlord.
ELK GROVE VILLAGE, ILL. — Logisteed America Inc., a provider of transportation and logistics services, has renewed its 106,100-square-foot industrial lease at 2551-2561 Allan Drive in the Chicago suburb of Elk Grove Village. Kenneth Franzese and John Cassidy of Lee & Associates represented the tenant. Jonathan Kohn and Chris Volkert of Colliers represented the landlord, LaSalle Investment Management.
CHICAGO — MonoSol has signed a 35,021-square-foot lease for a new innovation and technical center located within Fulton Labs in Chicago’s Fulton Market. Headquartered in Northwest Indiana, MonoSol is a sustainable material science company that is a division of Tokyo-based Kuraray Group. The company is best known for its water-soluble, biodegradable films that are used to make laundry and dishwashing detergent packets for many household brands. When open in mid-2024, MonoSol’s innovation center will occupy the last full floor at 1375 West Fulton. The deal brings the 300,000-square-foot life sciences building to about 98 percent leased. Dan Lyne and Kelsey Scheive of CBRE represented ownership, Trammell Crow Co. Andrew Urban and David Burden of Colliers represented the tenant.
SHOREWOOD, ILL. — Quantum Real Estate Advisors Inc. has brokered the $1.8 million sale of a 15,507-square-foot retail center in Shorewood, about 45 miles southwest of Chicago. Built in the mid-2000s and located on Brook Forest Avenue, the property was 85 percent leased at the time of sale and is shadow anchored by Jewel-Osco. Chad Firsel and Dan Waszak of Quantum represented the seller, an investor based in California. An Indiana-based private investor was the buyer.
LOMBARD AND LISLE, ILL., AND PEWAUKEE, WIS. — Newmark has brokered four sales across three office assets in Illinois and Wisconsin. Newmark represented Brennan Investment Group in the $25.9 million sale of Woodlake Corporate Park in Lombard, Ill., in two transactions. Five buildings sold to Avalair Group, while two buildings sold to Woodside Capital Partners. Newmark also represented the sellers in the $19.2 million sale of 2300 Cabot Drive in Lisle, Ill., and One & Two Riverwood Place in Pewaukee, Wis. Bridge Investment Group sold 2300 Cabot Drive to Urban Commercial Property Group. The Broe Group sold One & Two Riverwood Place to Woodside Capital Partners. Jim Postweiler, Peter Harwood, Derek Fohl and Jack Trager of Newmark were the brokers involved in the transactions.
ROSELLE, ILL. — DMG Capital, the multifamily investment affiliate of Chicago-based Daniel Management Group (DMG), has acquired Roselle Luxury Apartments in the Chicago suburb of Roselle for an undisclosed price. DMG Capital partnered with JDI Realty and The Wolcott Group, two Chicago-based real estate investment firms, to acquire the 72-unit apartment community. DMG has managed Roselle Luxury Apartments since September 2022. All of the property’s units are two-bedroom layouts. The seller was undisclosed.
MOUNT PROSPECT, ILL. — Standard Communities has led a public-private partnership that acquired Huntington Towers in Mount Prospect for an undisclosed price. The transaction preserves affordability for the 214-unit senior living community for the next 30 years. The total capitalization of the transaction is approximately $74.9 million, including $16.1 million in planned renovations. Standard completed the acquisition in partnership with the Illinois Housing Development Authority and the U.S. Department of Housing and Urban Development. Located at 551-571 W. Huntington Commons Road, Huntington Towers was built in 1978. Planned renovations include new flooring, kitchen cabinet hardware, countertops, ranges, refrigerators, microwaves and toilets. Light fixtures will be replaced, hallways will be painted and new carpet will be installed. New amenities will include a fitness center and business center. A new rooftop solar system will reduce the property’s carbon footprint by more than 215 tons of carbon dioxide per year. A resident services coordinator will be added to the staff.
AURORA, ILL. — JLL Capital Markets has brokered the sale of Aurora Commons, a 125,826-square-foot, open-air shopping center in Aurora. The sales price was undisclosed. Built in 1988, the property is 75 percent leased to tenants such as Ross Dress for Less, DD’s Discounts, Five Below, Dollar Tree, T-Mobile and H&R Block. Cermak Fresh Market shadow anchors the center, which is located at 1272 N. Lake St. Michael Nieder, Keely Polczynski and Caity Tirakian of JLL represented the seller, IRC Retail Centers. Sperry Equities was the buyer.
WAUKEGAN, ILL. — Interra Realty has brokered the $11 million sale of Westwood Apartments in the Chicago suburb of Waukegan. The 132-unit multifamily property is spread across 11 buildings and is located on Westwood Drive. Originally constructed in 1970, the community was 96 percent leased at the time of sale. Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented the local private buyer, which plans to make improvements to the building exteriors, common areas and unit interiors. The team also represented the seller, a local investment group. The transaction marked the largest by dollar amount in Waukegan in the past four years, according to CoStar.
ALSIP, ILL. — The Opus Group has broken ground on Alsip Park 294, a two-building speculative industrial development totaling 360,000 square feet in the southern Chicago suburb of Alsip. Opus is completing the project in a joint venture with Principal Asset Management. Alsip Park 294 will feature immediate access to a full I-294 interchange and visibility from the interstate. Building A will total 190,935 square feet and feature a clear height of 32 feet, 18 dock doors, two drive-in doors and 169 auto parking stalls. Building B will total 169,064 square feet and feature a clear height of 32 feet, 18 dock doors and 138 auto parking stalls. Both buildings have been designed to meet Green Globe certification. Examples of sustainable features include clerestory windows, storefront glazing, LED lighting, motion-activated bay lighting and drought-tolerant landscaping. All stone, precast walls, concrete and asphalt will be locally sourced. Completion is slated for August 2024. Opus is the developer, design-builder, architect and structural engineer. Brian Kling and Jake Spinell of Colliers are marketing the buildings for lease.