Office N Illinois Interior construction begins on Bank of America’s flagship Chicago office Skender recently started interior construction of the 536,000-square-foot office relocation for Bank of America’s (BofA) downtown Chicago offices. In addition to naming rights for the 56-story high-rise, the Charlotte, North Carolina-based financial institution will move into 17 floors of the new tower.
CRE N Illinois W.E. O'Neil Construction makes two project management hires W.E. O’Neil Construction welcomed two new project managers to its Chicago office, Dez Green and Matt Zarate.
CRE N Illinois Chicagoland Apartment Association welcomes Kellie DeVilbiss as new board president Kellie DeVilbiss has been named president of the Chicagoland Apartment Association’s (CAA) board of directors. CAA is a trade association representing thousands of apartment industry professionals including owners and managers of buildings ranging from two-flats to the largest publicly traded real estate investment trusts.
CRE N Illinois Mark Baumhart joins Lee & Associates of Illinois' Chicago regional office Lee & Associates announced that Mark Baumhart, CCIM has joined the company as principal. He will work with the industrial real estate brokerage group.
CRE N Illinois Avison Young appoints Ken Sacco as principal Ken Sacco has been appointed principal at Avison Young’s Chicago office. Previously with Accenture, Sacco will apply his extensive consulting expertise to align clients’ real estate portfolio strategies with their business and financial objectives. In doing so, he’ll partner with the firm’s transaction teams to maximize client business efficiency and performance.
Retail N Illinois Will experiential components be the kitsch of death for some retailers? In the internet age, brick and mortar retailers are repeatedly told, providing an experience is the key to bringing in more foot traffic. While that may be easy for bars and restaurants, what about merchants with physical goods for sale? There has to be a way that they can design around the Amazon effect.
CRE N Illinois CoreSite pursuing final incentive agreement that will bring new data center to Chicago in Q2 2020 CoreSite Realty Corporation, a provider of high-performance data center and interconnection solutions, announced that its application with the Illinois Data Centers Investment Program has been accepted by the Illinois Department of Commerce and Economic Opportunity. CoreSite is pursuing a final incentive agreement related to its new ground-up data center development in downtown Chicago.
Industrial N Illinois Golden State Foods acquires five distribution locations, three in Midwest Quality Custom Distribution (QCD), part of the Golden State Foods (GSF) family of companies, has acquired four distribution centers from Dedicated Logistics Inc. (DPI) in Chicago, Indianapolis, Boston and Washington, D.C., as well as a satellite depot in St. Louis. This acquisition expands QCD’s national footprint to 30 locations across the U.S.
CRE N Illinois Dayton Street Partners promotes Joe Moriarty to director – acquisitions Dayton Street Partners, a Chicago-based industrial and logistics real estate investment firm, announced that Joe Moriarty has been promoted to director – acquisitions. As such, Moriarty will play a larger role in sourcing commercial real estate projects for the firm.
Healthcare N Illinois C&W completes $7.7 million medical office sale in Roscoe, IL Cushman & Wakefield’s healthcare capital markets team has represented owner Glen Rock Development, LLC in the $7.7 million sale of a three-tenant, Class-A, 25,565 square foot medical office building at 4282 E. Rockton Road, in Roscoe, Illinois. Known as the SwedishAmerican Clinic & Immediate Care – Prairie Center, the asset was acquired by a U.S.-based, non-traded real estate investment trust focusing primarily on healthcare-related assets.
Industrial N Illinois Food and beverage industry getting hungrier for big warehouse space With consumers turning in larger numbers to home delivery of groceries, the food and beverage (F&B) sector has begun to take a greater portion of big box industrial leases. In fact, this activity is eating into the dominance that e-commerce has held in this space in recent history.
Multifamily N Illinois 62-unit multifamily property in Chicago's Grand Crossing seeks $5.3 million Essex Realty Group has been exclusively engaged to market 6800 S. Dorchester Avenue on Behalf of NOVO Properties. The 62-unit apartment building, located in Chicago’s Grand Crossing neighborhood, is listed for $5,300,000.
CRE N Illinois Construction begins on state-of-the-art infusion pharmacy center in Itasca McShane Construction Company has begun construction of a 50,000-square-foot, build-to-suit facility for Option Care Health, Inc. in Itasca, Illinois for developers Quadrangle Development Company and Janko Group. Approximately 55 percent of the single-story building will house office space, while the remaining 45 percent will incorporate licensed compounding pharmacy ambulatory infusion suites and support spaces for Option Care Health.
Net Lease N Illinois Marcus & Millichap brokers sale of net-leased Jason's Deli property in Schaumburg Marcus & Millichap arranged the sale of Jason’s Deli, a 5,145-square foot, net-leased property located in Schaumburg, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $2,742,500.
Industrial N Illinois ML Realty Partners completes 480,000 SF in Chicago-area lease transactions ML Realty Partners has completed 479,249 square feet in recent Chicagoland lease transactions. The leases were in Chicago, as well as suburban sites Des Plaines, Lockport and Skokie, Illinois.
CRE N Illinois Entre Commercial Realty expands property management team and portfolio Entre Commercial Realty announced that Tim Donohue has joined the firm as director of asset management. As a principal in the newly created Entre Asset Management LLC—along with Entre principals Dan Benassi, SIOR, Dan Jones, SIOR and Mike DeSerto—Donohue will lead the company’s continued expansion of its third-party property management services.
Industrial N Illinois Dayton Street Partners adds two Elk Grove properties to its portfolio Chicago-based Dayton Street Partners has closed on two industrial properties in Elk Grove Village, Illinois. The properties, at York and Elmhurst Roads, are situated directly across the street from Chicago O’Hare International Airport and offer direct access to O’Hare’s south cargo entrance via York Road and East Irving Park Road. The interstate system is immediately accessible to the north and south of the properties.
CRE N Illinois IREM Chicago PREMIER Awards slated for March 6 Registration is open for the 16th Annual IREM Chicago PREMIER Awards and Casino Night on March 6, 2020. The annual awards event is hosted by the Institute of Real Estate Management (IREM) Chicago Chapter and recognizes excellence in commercial property management.
Multifamily N Illinois Construction begins on mixed-use affordable living building in Oak Park A new four-story, 37-unit affordable housing development is underway on a vacant lot at the corner of Oak Park Avenue and Van Buren Street in Oak Park, Illinois. Boston-based nonprofit real estate developer, The Community Builders, is developing the project with a scheduled completion timeline of spring 2021.
CRE N Illinois On the Corner: LaSalle & Monroe LaSalle & Monroe is the reason I’ve spent the last four years in Chicago. It has been the hub of my life. It’s where I started my first job, was hired by my first manager, created lifelong friendships through the training program at the PrivateBank and it brought me to people I may not have met otherwise. It launched my career and will allow me start a new chapter in Colorado. LaSalle & Monroe is the reason for all of that. I’ve been able to chase dreams that many employers might not have even considered, let alone supported wholeheartedly. I would not be in Chicago if not for PrivateBank/CIBC at LaSalle & Monroe.