Office N Illinois Sterling Bay hires Joy Jordan to market Lincoln Yards to office users Sterling Bay has lured Joy Jordan away from the brokerage she helped found, The Telos Group, to oversee office leasing at the developer’s megaproject, Lincoln Yards. She comes aboard as executive vice president of leasing.
Retail N Illinois Multi-tenant retail property in Chicago's Austin neighborhood sells for $6.1M Marcus & Millichap completed the sale of Roosevelt Plaza, a 27,150-square foot retail property located in Chicago, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. After multiple offers, the asset sold to a Chicago-based private investor for $6,100,000.
Industrial N Illinois STREAM Capital Partners executed two sale-leasebacks totaling $49M STREAM Capital Partners, LLC has arranged two sale and leaseback transactions. The first was a four-property portfolio of refrigerated, food production and distribution facilities in Boston and the Midwest. STREAM also handled the sale-leaseback of a 240,000-square-foot industrial packaging facility in west suburban Chicago.
Multifamily N Illinois Dearborn Homes community in Chicago's Bronzeville set to go solar In a first of its kind public and private sector innovation project for Chicago, the Dearborn Homes public housing development that serves more than 600 families in Chicago’s Bronzeville neighborhood is producing renewable energy via private solar panels primarily on its rooftops. This solar installation completed this month supports ComEd’sBronzeville Community microgrid, a small power grid that can generate its own power to keep electricity flowing to customers and support critical public services when there’s an interruption on the main grid.
Multifamily N Illinois Wheeling Town Center residences open The ONE luxe apartments complex at Wheeling Town Center officially opened in Wheeling, Illinois. CallisonRTKL served as the architect, working in partnership with Wheeling Town Center’s developer, The Lynmark Group. The residences are phase I of a two-part Wheeling Town Center master plan.
Industrial N Illinois Where did Chicago's giant industrial deals go? During this cycle, developers have been eager to deliver big box industrial buildings to feed the voracious appetite of large users. However, the banquet may be oversupplied, as the number of large, speculative warehouses has dropped off.
Student Housing N Illinois Corvias partners with Illinois Tech to deliver 330 new residential beds by fall 2020 Corvias and the Illinois Institute of Technology will renovate Bailey Hall in order to provide new living space for 330 freshmen and sophomores by fall semester of 2020, as part of Illinois Tech’s student housing program. The partnership is comprised of Corvias for development and management, Dirk Denison Architects for design and Gilbane Building Company for construction.
Multifamily N Illinois The Opus Group completes luxury mixed-use development in Elmhurst The Opus Group has completed The Marke of Elmhurst, a luxury mixed-use development in Elmhurst, Illinois, a western Chicago suburb. The six-story, 164-unit development includes one-, two- and three-bedroom units, upscale amenities and 7,600 square feet of Class A retail space that is available in a burgeoning area of redevelopment.
CRE N Illinois Lee & Associates of Illinois closes trio of transactions in Chicago suburbs Lee & Associates of Illinois has closed two lease transactions and one sale in Chicago’s north and northwest suburbs. The subject properties were located in Arlington Heights, Schaumburg and Wood Dale, Illinois.
Multifamily N Illinois Essex Realty closes $6.3M sale of rental property in Chicago's Portage Park Essex Realty Group, Inc. completed the sale of The Portage Park Theater Apartments, located at 4044-4060 N. Milwaukee Avenue in the heart of Chicago’s Portage Park neighborhood. The property consists of 34 apartments and four fully leased commercial spaces totaling 5,460 square feet.
Multifamily N Illinois SVN Chicago brokers sale of multifamily portfolio on Chicago's South Side SVN Chicago Commercial has closed the first round of multifamily properties in the 206-unit, six-building EquityBuild Portfolio. The properties are located in Chicago’s South Shore, Greater Grand Crossing, Chicago Lawn and East Chatham neighborhoods.
CRE N Illinois CRE Future Leaders: Aaron Sklar Since joining mid-market multifamily specialists Kiser Group in February 2015, Aaron Sklar, 31, has successfully completed transactions in excess of $110,000,000 on behalf of his clients as well as brokered the sale of over 1,900 units.
Industrial N Illinois Marcus & Millichap arranges sale of 395-unit self-storage facility in Plano Marcus & Millichap closed the sale of Store More on Route 34, a 49,500-square foot, 395-unit self-storage facility located in Plano, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. Terms of the transaction were not disclosed.
Multifamily N Illinois Interra Realty nets highest per-unit price for O'Hare multifamily portfolio sale Interra Realty brokered the $3.84 million sale of a four-building, 27-unit portfolio that includes assets on Chicago’s far Northwest Side and in the nearby suburb of Harwood Heights, Illinois. The price equated to $142,370 per unit, the highest to date per CoStar for the submarket, which is less than 10 miles from O’Hare International Airport.
CRE N Illinois Tom Cuculich named executive director of Chicagoland Associated General Contractors The Chicagoland Associated General Contractors (CAGC), a trade association serving the Chicagoland commercial construction industry and local chapter of the Associated General Contractors of America, announced the appointment of Tom Cuculich as executive director. He will begin his role effective July 15.
Office N Illinois Wight & Company completes interiors for downtown Chicago HQ of Legacy.com Chicago-based integrated design and delivery firm Wight & Company has completed the new headquarters for Legacy.com, the nation’s leading online publisher of life memorials and end-of-life resources. The 18,000-square-foot space located at 230 W. Monroe Street in Chicago’s Loop, consolidates 100 of Legacy’s technology, customer service and administrative employees from two different suburban locations.
Multifamily N Illinois The Collective unveils plans for first purpose-built Chicago co-living location New York-based co-living provider The Collective confirmed plans to expand into Chicago; following a trio of acquisitions in New York, Chicago becomes the second city in The Collective’s U.S. expansion. The announcement includes plans to create a purpose-built co-living project in the South Loop neighborhood of Printer’s Row.
Office N Illinois The former Oak Brook HQ of McDonald's Corp. sells to Paul Mitchell co-founder John Paul DeJoria, co-founder of John Paul Mitchell Systems, a Los Angeles-based hair care company, has acquired the Oak Brook, Illinois campus that formerly served as the corporate headquarters for McDonanld’s. It’s unclear what plans he has in store for what had been the most high-profile office property on the market in the Chicago area.
Multifamily N Illinois Exploring the Lightfoot platform, part one: Affordable housing Though the bull market that has charged out of the Great Recession continues apace, Chicago residents overwhelmingly voted in progressive candidates during the April elections, including a new mayor, Lori Lightfoot. What impact might a more reform-minded agenda have on the city’s market-rate and affordable housing?
Net Lease N Illinois The Boulder Group facilitates sale of ground lease Portillo's property The Boulder Group, a Wilmette, Illinois-based net leased investment brokerage firm, has completed the sale of a single-tenant, ground-leased Portillo’s property located at 202 Landmark Drive in Normal, Illinois for $4,400,000. This sale marked the lowest cap rate for a Portillo’s property since 2017, according to CoStar.