Multifamily N Illinois
Interra Realty brokers sale of multifamily property in West Suburban Chicago

Interra Realty brokers sale of multifamily property in West Suburban Chicago

Interra Realty brokered the sale of 1917-23 S. Grove Avenue, a four-story, 34-unit building in Berwyn, Illinois, a western suburb of Chicago. Interra managing partner, Pat Kennelly, and director, Paul Waterloo, represented both the seller, Riverside-based Property Rental Inc., and the buyer, BAM 1917 Grove LLC, which plans to undertake a $1 million gut rehab of the building.

Office N Illinois
Dinsmore & Shohl LLP moving to larger offices in Franklin Center

Dinsmore & Shohl LLP moving to larger offices in Franklin Center

The Chicago branch of Dinsmore & Shohl LLP has moved into its new office at 222 W. Adams Street, on the top floor of Tishman Speyer’s Franklin Center. Since opening in March of 2014, Dinsmore has grown its attorney roster in Chicago; the new space, custom-designed to fit the firm’s full-service offerings, is 150 percent larger than its previous home at the adjacent 227 W. Monroe Street.

Net Lease N Illinois
Morton, IL net-leased property sells for $1.3M

Morton, IL net-leased property sells for $1.3M

Marcus & Millichap facilitated the sale of Enterprise Truck Rental Ground Lease, a 3,034-square foot net-leased property located in Morton, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $1,365,000.

CRE N Illinois
Allan Swaringen of JLL Income Property Trust

JLL Income Property Trust launches 1031 exchange platform

JLL Income Property Trust, an institutionally-managed daily NAV REIT based in Chicago, has launched a 1031 tax-deferred exchange program designed to provide accredited investors with the opportunity to defer taxes on gains from the sale of appreciated real estate. The JLL Exchange (JLLX) program will offer a series of private placements through the sale of interests in Delaware statutory trusts (DSTs) holding real properties sourced from Income Property Trust’s portfolio or from third parties.

CRE N Illinois
CRE Future Leaders: John Feeney

CRE Future Leaders: John Feeney

A senior vice president at The Boulder Group, John Feeney assists clients in the acquisition and disposition of net lease properties. Additionally, as the head of The Boulder Group's research division, he has published over 50 net lease investment research reports.

Industrial N Illinois
Pizzuti Companies developing Romeoville logistics facility for Crate & Barrel

Pizzuti Companies developing Romeoville logistics facility for Crate & Barrel

The Pizzuti Companies has been selected to develop a build-to-suit, Class A industrial facility for Crate & Barrel in Romeoville, Illinois. The new logistics facility is being developed at Pinnacle Business Center, located in the heart of Chicago’s I-55 corridor, and the property is owned by an affiliate of Heitman LLC, a global real estate investment management firm.

Seniors Housing N Illinois
Atria Highland Park begins pre-leasing

Atria Highland Park begins pre-leasing

Atria Senior Living has announced pre-leasing at Atria Highland Park, a new luxury senior living community located at the intersection of Deerfield Road and Central Avenue in Highland Park, Illinois. The property, which will feature 86 apartments offering assisted living and memory care is slated for a summer 2020 opening.

CRE N Illinois
Marijuana cultivation facility set to double in size

Marijuana cultivation facility set to double in size

Freehold Properties, a newly formed real estate investment company focused on specialized agricultural, industrial and cannabis properties, will provide up to $28.75 million in real estate capital expansion funding to Revolution Global, a Chicago-based, multi-state cannabis operator. Revolution plans to use the capital to more than double the capacity of its flagship cultivation facility in Delavan, Illinois.

CRE N Illinois
First look at HOK's O'Hare Airport expansion

First look at HOK's O'Hare Airport expansion

HOK and Muller & Muller, Ltd., along with the Chicago Department of Aviation, are leading the design of more than 300,000 square feet of new space in Terminal 5. This will be the terminal’s first major expansion since it opened in 1993 and will allow O’Hare to comfortably welcome an increasing number of travelers.

CRE N Illinois
Luke Heerema;Wright Heerema Architects

Wright Heerema Architects hires new director of business development

Chicago-based architectural and interior design firm, Wright Heerema Architects, has appointed Luke Heerema as the new director of business development. Heerema is a seasoned business development professional in the commercial real estate and architecture industry, with previous roles at Cresa Chicago and Interior Investments. In his new role, he is charged with leading the firm’s business development team and enhancing the firm’s pipeline of architecture and interior design work.