CHICAGO — Life Care Services has opened Clarendale Six Corners, a 258-unit seniors housing community in the Portage Park neighborhood of Northwest Chicago. Rising 10 stories at the intersection of Milwaukee Avenue and Irving Park Road, the property features 114 independent living units with one-, two- and three-bedroom layouts, 98 assisted living units and 46 memory care apartments.
MOUNT PROSPECT, ILL. — Principle Construction Corp. has completed a 21,427-square-foot office and manufacturing expansion for Avery Dennison in the Chicago suburb of Mount Prospect. The company manufactures retro-reflective sheeting. The project encompasses 11,576 square feet of manufacturing and warehouse space and 9,851 square feet of two-story office space. Cornerstone Architects was the project architect and Vivek Singla of CBRE served as project manager on behalf of Avery Dennison. The facility is located at 902 Feehanville Drive.
BARTLETT, ILL. — Lee & Associates has brokered the sale of a 3.4-acre vacant lot near the southeast corner of West Bartlett Road and Route 25 in the Chicago suburb of Bartlett. The sales price was undisclosed. A new multi-story, self-storage facility is planned for the site. Rick Scardino of Lee & Associates represented the seller, Abbott Land. Dan Lynch of Colliers represented the buyer, Berman-Lapetina.
CHICAGO — The Community Builders has begun development of 4715 N Western, a 63-unit affordable housing building in Chicago’s Lincoln Square neighborhood. The six-story property will feature 25 studios, 29 one-bedroom units and nine two-bedroom residences. The units will be reserved for those who earn no more than 80 percent of the area median income. Amenities will include a lounge, terrace, bike room, package room and resident parking. The development will also feature 5,500 square feet of ground-floor commercial space and 18 public parking spaces. The project is being built with financial support from the City of Chicago, CIBC, Stratford Capital Group, Benefit Chicago, Chicago Housing Authority and ComEd Energy Efficiency Program. Leopardo Cos. is the general contractor and DesignBridge Ltd. is the architect. A timeline for completion was not provided.
ANTIOCH, ILL. — Marcus & Millichap has arranged the $2.4 million sale of a 19,810-square-foot retail center in Antioch, a city in northern Illinois near the Wisconsin border. Advance Auto Parts is the anchor tenant at the property. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a partnership that had owned the center for over 20 years. The duo also secured and represented the buyer, a local private investor.
SCHAUMBURG, ILL. — Olympus Design and Development has broken ground on a $65 million logistics campus in the Chicago suburb of Schaumburg. The four-building development will house headquarters office, warehouse and distribution space for Experior Global & Transport as well as one speculative office and industrial building for other users. David Haigh of NAI Hiffman represented Experior in the acquisition of the property. Completion is slated for the fourth quarter of 2024. The campus will feature a 24-hour surveillance system, parking for 800 trucks and trailers, a fully equipped gas station and convenience store, and a truck sales and repair shop to be operated by Experior.
WEST CHICAGO, ILL. — Meridian Design Build has completed construction of Dupage Crossings, a 258,720-square-foot speculative industrial building in West Chicago. Stotan Industrial and Stonemont Financial Group developed the facility, which is located on 17 acres at 348 Charles Court. The property features a clear height of 36 feet, 32 loading docks, four drive-in doors, 212 auto parking spaces and 46 trailer parking stalls. Harris Architects and civil engineer Spaceco made up the project team. Brian Kling and Reed Adler of Colliers are marketing the building for lease. The project was 66 percent leased shortly after completion.
CHICAGO — Two tenants have expanded their leases within Fulton Labs, a 725,000-square-foot, two-building life sciences development in Chicago. The Chan Zuckerberg Biohub Chicago, a biomedical research institute launched by Priscilla Chan and Mark Zuckerberg, signed a lease for 28,200 square feet at 400 N. Aberdeen St. The tenant initially signed a lease earlier this year at Fulton Labs’ other building, which is located at 1375 W. Fulton St. Since there is no further space at 1375 W. Fulton, the biohub will move into a new space at 400 N. Aberdeen in the first quarter of 2024, and temporarily occupy space in a science-ready lab suite at 1375 W. Fulton until then. Venture accelerator Portal Innovations is expanding its lease from 6,000 to 55,000 square feet at 400 N. Aberdeen. ESG Architects, CRB Group and Power Construction are completing the interior build-outs for both tenants. Dan Lyne of CBRE represented ownership, Trammell Crow Co.
CHICAGO — Greystone Monticello, a bridge lending platform serving as a one-stop-shop provider of capital finance products and services for the multifamily and seniors housing sectors, has provided bridge financing for the $150 million acquisition of a portfolio of eight supportive living facilities in Illinois. The portfolio was financed with a two-year bridge loan and is intended to transition to long-term, fixed-rate financing with Greystone. Comprising 921 beds, the facilities are located in Elk Grove Village, Melrose Park, Country Club Hills, Bartlett, Vernon Hills and Chicago. The supportive living program in Illinois is an alternative to nursing home care for low-income persons requiring mid-range care needs. Eric Rosenstock of Greystone worked with both the buyer and seller and originated the bridge financing.
ST. CHARLES, ILL. — Marcus & Millichap has brokered the $4.1 million sale of a 31,650-square-foot retail property in St. Charles, a far west suburb of Chicago. Located at 300 S. 2nd St., the building was formerly home to Blue Goose Market, which closed in March 2022. The buyer, a developer, plans to redevelop the asset into a national-branded grocery store. The property was originally built in 2008. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a limited liability company, and the buyer.
