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.
BOLINGBROOK, ILL. — McDonald’s (NYSE: MCD) has announced plans to test CosMc’s, a new smaller format concept featuring a beverage-led menu with new food and drink items. The first location will open this month in the Chicago suburb of Bolingbrook, where the first McDonald’s franchise location opened in 1955. By the end of 2024, the company plans to open 10 pilot locations for the concept, with target markets set to include the Dallas-Fort Worth and San Antonio metropolitan areas. CosMc’s will offer digital and drive-thru ordering formats only, with dynamic menu boards, cashless payment devices and pick-up windows. The concept’s menu will be beverage-focused, including specialty lemonades and teas, blended beverages and cold brew coffees. Drink offerings — which will include churro- and s’mores-flavored coffees, sour cherry energy drinks and lemonades — will be customizable, to include the addition of boba, energy and Vitamin C shots. CosMc’s locations will also feature a small lineup of food items, including new offerings like a spicy queso sandwich and pretzel and hash brown bites, alongside traditional menu standbys like Egg McMuffin sandwiches and McFlurrys. The new concept is named after CosMc, a mascot that McDonald’s launched in the late 1980s. Chicago-based McDonald’s is …
AURORA, ILL. — Colliers has brokered the sale of Tollway Corporate Center in Aurora for approximately $75 million in two separate transactions. The industrial property consists of two buildings. The first building, which totals 543,638 square feet and is leased to Ryder Integrated Logistics, sold to a large financial institution. The second building, which spans 104,978 square feet and is leased to two tenants, sold to The Brimel LLC as part of a 1031 exchange. Jeff Devine and Steve Disse of Colliers represented the seller, a joint venture between Opus Development and Principal Asset Management.
EDWARDSVILLE, ILL. AND SHAKOPEE, MINN. — Sam’s Club, a division of Walmart Inc., plans to open two new distribution centers in early 2024 in metro St. Louis and Minneapolis. The retailer says the new facilities are part of a multi-year growth plan to transform the supply chain at Sam’s Club. The first center will open in the greater St. Louis area in Edwardsville, Ill., in January. The 370,000-square-foot property will serve as a distribution and fulfillment center, creating more than 100 jobs across the area. The second facility will be located in Shakopee, Minn., and is scheduled to open in March. The 365,000-square-foot property will serve as a multipurpose distribution center and will employ more than 80 associates.
NAPERVILLE, ILL. — Quantum Real Estate Advisors Inc. has arranged the $7.1 million sale of Design Pointe, a 78,000-square-foot retail center in the Chicago suburb of Naperville. Built in the mid-2000s, the property is located at 1320 N. Route 59. At the time of sale, the center was 95 percent leased to Studio 41, Brain Balance, Fancy Free Holidays and other tenants. Brett Berlin of Quantum represented the seller, an Illinois-based investor. The buyer was also a private investor based in Illinois.