Industrial N Illinois
1600 Fleetwood in Elgin, Illinois.

Midwest Industrial sells part of portfolio for $21 million

Midwest Industrial Funds recently closed on the sale of the first phase of a three‐building, $21 million sale to Plymouth Industrial REIT. The first phase included over 280,000 square feet of fully leased properties at 1600 Fleetwood in Elgin, Illinois and 3 W. College Drive in Arlington Heights, Illinois. 1600 Fleetwood was leased long term to Stamar Packaging, a leading distributer of packaging, shipping and industrial supplies, and 3 W. College was leased to Arrows‐Up, an affiliate of Denver-based Omnitrax, who provides containerized bins for the blending of sand/silica used in the oil and fracking industries.

Office N Illinois
The Spaces Fulton Market facility at 159 N. Sangamon Street in Chicago.

ARCO/Murray completes two coworking spaces in Chicago

ARCO/Murray recently completed two coworking office, event and work environments for Spaces, an Amsterdam-based company, in Chicago’s Fulton Market and Lincoln Park neighborhoods. The 32,000-square-foot Fulton Market facility is located at 159 N. Sangamon Street and the 24,000-square-foot Lincoln Park facility is located at 1500 N. Halsted Street.

CRE N Illinois
Tom Boyle;Lee & Associates

Lee & Associates of Illinois welcomes Tom Boyle

Tom Boyle has joined Lee & Associates of Illinois, specializing in the sale and leasing of industrial properties. Since 1992, Boyle has managed a variety of real estate projects. He has worked with numerous national developers and completed transactions in all of Chicago’s 23 submarkets.

Multifamily N Illinois
CBRE brings Lake Shore Drive condo building to market for deconversion

CBRE brings Lake Shore Drive condo building to market for deconversion

The homeowners’ association of 540 N. Lake Shore Drive, a 150-unit condo building, have retained CBRE as the building’s listing agent. CBRE is positioning the property as a deconversion opportunity, offering the brick-and-timber loft condos in a bulk sale through a competitive bidding process. The listing also contains the adjacent, 10,780-square-foot parking garage with 73 spaces at 450 E. Grand Avenue befitting new construction.

CRE N Illinois
CRE Future Leaders: Jeff Provenza

CRE Future Leaders: Jeff Provenza

As part of our series, CRE Future Leaders, we caught up with Jeffrey J. Provenza, vice president of Darwin Realty, where he offers a full range of brokerage services, including tenant/buyer/ownership representation, build-to-suit projects, site acquisitions and investment deals. His primary area of concentration is the O’Hare market.

CRE N Illinois
2.46-acre Fulton Market land portfolio up for sale

2.46-acre Fulton Market land portfolio up for sale

A four-parcel land portfolio totalling 2.46 acres has gone on the market in the Fulton Market neighborhood of Chicago. The premier land portfolio, being shopped around by JLL as a development opportunity, represents the biggest offering of the past year in one of the country’s most sought-after neighborhoods

Multifamily N Illinois
River North condo building 56 W. Huron tops out

River North condo building 56 W. Huron tops out

Chicago-based Gilbane Building Company recently topped out the 56 W. Huron Condo project in Chicago’s River North neighborhood. A ceremony for this high-profile residential project was attended by representatives from Kiferbaum Development Group, Gilbane and subcontractor partners. The event took place on the project site with a beam signing ceremony to commemorate the special occasion.

Legal N Illinois
Five ways to avoid a commercial lease dispute

Five ways to avoid a commercial lease dispute

Rent is one the largest recurring expenses for many businesses. As a result, disputes about commercial leases pose the potential to have significant impacts on businesses. And commercial lease disputes can hurt the land owner or property manager too. For example, from the owner’s side, conflict about a lease can tie up property while halting or delaying receipt of revenue. The point is that disputes are costly and distracting for both sides.

Industrial N Illinois
HSA Commercial sells 218,500 SF warehouse in Lake County

HSA Commercial sells 218,500 SF warehouse in Lake County

Chicago-based HSA Commercial Real Estate announced the completed sale of a 218,500-square-foot industrial building in the Delany Commerce Center—a multi-phase, 22.7-acre development east of the Tri-State Tollway in Waukegan, Illinois. The firm developed the distribution center in 2013 in partnership with Washington Capital Management Inc. and recently sold the building to a private investor.

Office N Illinois
The success of Sterling Bay’s ambitious Lincoln Yards development may depend on extensive transit infrastructure changes.

The central business district, decentralized

It wasn’t that long ago that Chicago’s central business district was confined to the Loop. Over the years, office space has crept outward, spilling over the banks of the river to the north and to the west. So just what is it that entices corporations to move out to the fringes of the CBD?

CRE N Illinois
McShane Construction named one of the Best Places to Work in Illinois

McShane Construction named one of the Best Places to Work in Illinois

McShane Construction Company was recently named as one of the 2018 Best Places to Work in Illinois. The awards program began in 2006 and is promoted by The Daily Herald Business Ledger in partnership with the Human Resources Management Association of Chicago, the Illinois Chamber of Commerce, MRA -The Management Association, the Small Business Advocacy Council and Best Companies Group.