CHICAGO — The American Dental Association (ADA) is relocating its headquarters to 401 North Michigan Avenue in Chicago. In the first quarter of 2025, the tenant will begin occupying the top three floors of the building and a portion of the 32nd floor for a total of 69,574 square feet. ADA’s lease encompasses 9.4 percent of the building’s total rentable space, bringing the occupancy to 88.4 percent. Tenants at the property have access to an outdoor work park, direct access to University of Chicago Gleacher Center conference facilities, a tenant lounge and conference center, Pine Street Kitchen, a 7,500-square-foot professionally managed fitness center and indoor valet parking. ADA’s move comes after spending 60 years at its previous headquarters at 211 East Chicago, which was sold to Lurie Children’s Hospital. Erica Marshall of Stream Realty Partners and Howard Meyer of Zeller represented ownership, Walton Street Capital. Jeff Liljeberg and Jaime Fink of JLL represented ADA.
Midwest
MINNEAPOLIS — Wells Fargo has provided $65.5 million in construction financing for Opportunity Crossing. The 110-unit affordable housing project marks the first mixed-use affordable housing development to be built in South Minneapolis since the 2020 social uprisings, according to a news release. In addition to the units, the six-story property will feature first-floor commercial space for small businesses and a new Wells Fargo branch. Wells Fargo’s Community Lending and Investment Group provided $29.5 million in total construction financing, a $6.5 million permanent loan commitment and a $24.5 million Low-Income Housing Tax Credits equity investment. The redevelopment at 3030 Nicollet Ave. is the result of a community outreach process that included eight community listening sessions hosted by the developer, Project for Pride in Living, as well as the Cultural Wellness Center and Wells Fargo.
PLAINFIELD, IND. — Marathon Electric LLC has signed a full-building industrial lease totaling 233,618 square feet at Terminus at Hobbs Station in the Indianapolis suburb of Plainfield. The owner and developer, Chicago-based HSA Commercial Real Estate, recently completed the two-building speculative development near the Indianapolis International Airport. The 497,540-square-foot project is now 45 percent leased. Marathon Electric expects to take occupancy in September following an interior build-out. The manufacturer of motors and generators will use most of the space for warehousing and distribution. The building features a clear height of 32 feet, 36 dock doors, three drive-in doors, 163 car parking spots and 48 trailer parking stalls. The adjacent building, which is still available for lease, spans 263,922 square feet. Andrea Hopper of Colliers represented ownership in the lease with Marathon Electric. Jimmy Cohoat and Darren Ross of Colliers represented the tenant.
CHICAGO — R.M. Chin & Associates has signed a 15,473-square-foot office lease at the newly renovated Canal Station building at 801 S. Canal St. in Chicago. The tenant represents clients in the aviation, buildings and transportation environments with program management, project management, construction management, and design and public involvement services. The lease marks the first at the property. Bill Sheehy and Brady Wolfe of CBRE represented the tenant, while Jeff Dowdell and Matt Whipple of Telos represented ownership, 601W. Purchased in 2019 by 601W, the former Northern Trust building began undergoing redevelopment in 2021. The six-story, 680,000-square-foot property features new windows; a new hospitality-focused amenity center with a fitness center, tenant lounge and 8,000-square-foot terrace; and a grand entrance and lobby with a four-story media wall. Gardner Builders was the general contractor, and Solomon Cordwell Buenz was the architect.
WARRENVILLE, ILL. — SVN Chicago Commercial has brokered the $3 million sale of an 11,916-square-foot restaurant property in the Chicago suburb of Warrenville. The two-building asset is located at 28258 Diehl Road. Ronald Weissenhofer of SVN represented the buyer, the owner of Simply South Indian Cuisine. The transaction marks the first Midwest location for Simply South Indian Cuisine, which plans to expand across the country. The seller was undisclosed.
CHICAGO — McHugh Construction has completed a multimillion-dollar renovation of a 191-room, 14-story hotel in Chicago. The property opened in June as L7 Chicago and marks the first L7-branded property in North America from South Korea-based Lotte Hotels & Resorts. McHugh also completed the build-out of Perilla Korean American Steakhouse, the hotel’s anchor restaurant on the ground floor, as well as a new lobby. In late August 2023, McHugh began demolition of the restaurant and lobby of the former Kimpton Hotel Monaco at 225 N. Wabash Ave. and erected temporary walls so that the hotel remained in operation throughout the renovation. McHugh started renovating the top floor in November and worked its way down one floor at a time. The project included new carpet, wall coverings, finishes and furniture for hotel rooms, suites and corridors; reupholstered window seats in each room; and new tiles on the wall alongside each guest room door. The project team included interior designer AvroKo and Grec Architects. Located steps from the Chicago Riverwalk and the Magnificent Mile, the building was originally constructed in 1912 and served as a hat factory and headquarters of D.B. Fisk Co., the largest wholesale millinery in the country until 1932. …
ELMHURST, ILL. — Ryan Cos. US Inc. has opened Vyne on Haven, a 200-unit luxury apartment community in the western Chicago suburb of Elmhurst. Located at 100 N. Haven Road, the property is steps away from the Elmhurst Metra station. Monthly rents start at $1,800 for studios. Some of the large penthouse units rent for more than $5,000 per month. Amenities include an outdoor entertainment deck with a pool, cabanas, dining areas, grilling stations and firepits; a secondary tranquil outdoor deck known as the Zen Garden; a fitness center with Peloton bikes and a separate training studio; a clubroom with indoor-outdoor connectivity with the pool deck; and a sky lounge with fireplace, resident games and private dining area. Ryan A+E Inc., the design studio of Ryan, was the architect. MetLife Investment Management and Ryan are the owners of the property. Ryan served as developer and design-builder. Greystar is the operating partner.
GRIMES, IOWA — Covetrus has signed a lease to relocate its operations to an 80,000-square-foot distribution center at Prairie Business Park in Grimes, a northwest suburb of Des Moines. The animal health technology and services company is expanding its footprint by 27,000 square feet. From its new location, Covetrus will serve veterinarians and their practices across several states. Austin Barrett of Savills represented Covetrus. R&R Realty Group owns the property.
PLYMOUTH, MINN. — CBRE has arranged the sale of Creekside Apartments, a 204-unit multifamily property in the western Minneapolis suburb of Plymouth. Heartland Realty Investors Inc. purchased the community from Creekside Apartment Homes LLP for an undisclosed amount. CBRE’s Keith Collins, Ted Abramson and Abe Appert represented the seller. Built in 2000, Creekside Apartments underwent significant unit and common area improvements over the past four years. Units average 986 square feet. Amenities include a community room, mezzanine workspaces, a fitness center, virtual bike studio, outdoor grilling areas and underground parking.
CHICAGO AND NILES, ILL. — Cannabis Facility Construction (CFC) has completed two Bud & Rita’s-branded dispensaries in metro Chicago. Nature’s Grace and Wellness, a family-owned and operated Illinois cannabis firm, pursued an operational partnership approach for both locations. The company partnered with Illinois Cannabis Co. for the property at 5960 W. Touhy Ave. in Niles and Green & Randle for the dispensary at 3425 W. Belmont Ave. in Chicago’s Avondale neighborhood. The design of both facilities draws inspiration from 1950s diners. Half of the 6,000-square-foot Avondale location is designated as open space for hosting community event. The Niles location is larger at 7,600 square feet. In addition to Eastlake Architects, the project team included Boulder for engineering work, Quick Electric for security and IT, Bataglia and Parkside for electrical installations, Dunaway for carpentry, Tim’s Glass for the installation of storefront glass and Right Way Signs for the exterior and interior signage as well as painted murals.