Net Lease N Illinois Marcus & Millichap arranges sale of net-leased KFC in Rockford Marcus & Millichap facilitated the sale of a 1,999-square foot, net-leased KFC in Rockford, Illinois. The asset, which is located at 1502 N. Kilburn Avenue in a desirable, highly trafficked location, sold for $700,000.
Industrial N Illinois The rising value of close-in distribution space Once thought of largely as opportunities for conversion to residential lofts and open offices, the close-in urban warehouse is having a resurgence in popularity. Accelerating growth of e-commerce and rising demand from consumers for next-day delivery has highlighted the need for companies to locate warehouses and distribution centers close to densely populated city centers.
Industrial N Illinois Marcus & Millichap closes $3.6 million industrial sale in Effingham Marcus & Millichap closed the sale of Nova Solutions Sale Leaseback, a 110,000-square-foot industrial property in Effingham, Illinois. The asset sold for $3.6 million, which was 95 percent of asking price, to an out-of-state 1031 exchange buyer.
Multifamily N Illinois Sales start for PLSN Condos in Chicago's Pilsen neighborhood Chicago-based @properties has announced the start of sales for PLSN Condos, located in the 800 block of West Cullerton Street in Pilsen. The 23-unit project is one of only a handful of new condominium developments being built in the rapidly emerging neighborhood on Chicago’s Near South Side.
Retail N Illinois Outdoor gear retailer YETI opens store in Wicker Park YETI Holdings, Inc., a leading premium outdoor brand, announced the opening of a new retail location in Chicago’s Wicker Park neighborhood. The 4,900-quare-foot store is located at 1572 N. Milwaukee Avenue.
Industrial N Illinois CA Industrial appoints CRE veteran Michael Podboy as president Chicago-based CA Industrial, the industrial investment and development division of CA Ventures, has appointed Michael Podboy, a veteran of the commercial real estate industry who has overseen more than $750 million in development, as president for the division. Podboy will build on the success of CA Industrial, launched in July 2018 with a goal of investing $500 million in speculative industrial development and acquisition opportunities throughout the U.S. over the next five years.
CRE N Illinois Holland expands pre-construction team with addition of Brian Wheeler Brian Wheeler has joined Holland Construction Services’ pre-construction team as senior pre-construction manager. He comes to Holland with an architectural skillset and background that will help the team develop, analyze and coordinate the best possible solutions to fit the clients’ needs.
Retail N Illinois CIBC cuts ribbon on Little Village location CIBC marked the grand opening of its newest banking center in Chicago’s Little Village neighborhood with a ribbon cutting celebration attended by city officials and CIBC bank representatives.
Industrial N Illinois ML Realty Partners closes 280,000 SF in recent Chicagoland lease transactions ML Realty Partners recently completed 279,711 square feet in recent Chicagoland lease transactions. The deals included one in Chicago and two in Elk Grove Village, Illinois.
Seniors Housing N Illinois Evergreen Real Estate Group cuts ribbon on co-located senior housing/library in Irving Park Evergreen Real Estate Group recently joined public-private partners for a ceremonial ribbon-cutting to celebrate the completion of Independence Apartments, a six-story, 44-unit affordable senior rental community located above the new Independence Branch Library in Chicago’s Irving Park neighborhood.
Industrial N Illinois PREMIER, Bridge break ground on two-building industrial development in DuPage County PREMIER Design + Build Group has broken ground on a two-building industrial project for client Bridge Development Partners. The facility will include a new home for tenant Forward Space LLC, a provider of innovative workplace solutions. The two-building redevelopment, known as Bridge Point Wood Dale, is located in Wood Dale, Illinois.
CRE N Illinois Landmark Partners adds industry veteran to it’s property management division Landmark Partners has hired industry veteran Noel Rolle to its property management division as senior property manager. Rolle has over thirty years’ experience in the property management industry and is accredited for overseeing the operations, maintenance, renovations and enhancement of nearly 3 million square feet of governmental, commercial, hotel and conference properties, as well as over 850 acres of land throughout Illinois.
Finance N Illinois JLL arranges $9.4M refinancing for Chicago recreational facility JLL arranged a $9.4 million refinancing for The Armoury, a 46,040-square-foot infill industrial facility repurposed as an entertainment trampoline park and athletic training facility in Chicago. JLL worked on behalf of the borrower, a partnership between Clear Height Properties and Diamond Realty Holdings, to place the 9.4-year, fixed-rate loan with a financial holding company.
Healthcare N Illinois Rush, Chicago Design Network cut ribbon on facility for returning vets Architecture firm Chicago Design Network recently completed the latest space for The Road Home Program at Rush, located at 325 S. Paulina Street. The Road Home Program at Rush is a non-profit organization that helps veterans face the challenges of life after deployment, offering aid regardless of discharge status or ability to pay.
Office N Illinois Cannabis tech startup Fyllo finds new home in Fulton Market Fyllo, the Chicago-based tech startup focused on cannabis advertising, is relocating their headquarters to 845 W. Washington Street in the West Loop.
Multifamily N Illinois Kiser Group closes sale of 11-property multifamily portfolio in Rogers Park Kiser Group has successfully brokered the sale of an 11-building Rogers Park portfolio for $28.5 million. Lee Street Management, which had assembled the properties over two decades, sold the portfolio to Becovic Properties; the firm’s property management arm, Becovic Management Group, will manage the buildings.
Multifamily N Illinois Cushman & Wakefield partners with Six Peak Capital to raise $1B in co-living debt and equity Cushman & Wakefield has been exclusively retained to secure an initial $1 billion in programmatic debt and equity for New York-based Six Peak Capital—a leading asset manager in the co-living space—to expand its footprint across U.S. gateway markets.
Office N Illinois Avison Young takes on 1 MSF in property management for AAM Effective immediately, Avison Young will assume operation of Alter Asset Management’s (AAM) 1 million square feet of class A office property management assignments across multiple states. The portfolio includes properties in Illinois, as well as Pennsylvania, Georgia and New Jersey. The portfolio includes properties owned by AAM’s parent, national developer Alter, as well as other third-party ownership groups.
CRE N Illinois CRE Future Leaders: Julia Stoner Since joining Spaces Real Estate in 2013, broker Julia Stoner has generated more than $4 million in revenue. She and Roman Serra were recently tapped to spearhead Spaces Invest, the firm’s new multifamily sales division.
Multifamily N Illinois Glen Ellyn mixed-use project clears lawsuit A DuPage County judge has granted multiple motions to dismiss a lawsuit brought by Schoub Properties and Citizens for Glen Ellyn Preservation seeking to halt the development of Apex 400, a mixed-use development to be located at the northwest corner of Main Street and Hillside Avenue in Glen Ellyn, Illinois’ CBD.