Retail N Illinois CBRE completes three Chicago-area deals with Planet Fitness CBRE recently represented three separate landlords in leases to Planet Fitness for a combined 60,404 square feet in Chicago’s northwest suburbs. In each transaction, Joe Parrott, CRX, CLS, senior vice president at CBRE, represented the landlord.
Finance N Illinois HFF arranges $171M financing for North Harbor Tower in Chicago's Lakeshore East Holliday Fenoglio Fowler, L.P. (HFF) arranged $171.2 million in financing for North Harbor Tower, a 600-unit, high-rise apartment building in Chicago’s Lakeshore East neighborhood. HFF worked on behalf of the borrower, Waterton, to secure the seven-year, fixed-rate loan through Freddie Mac’s Green Advantage program.
CRE N Illinois Marcus & Millichap arranges sale of mixed-use Oak Park building Marcus & Millichap closed the sale of a 10,800-square foot, mixed-use property located in Oak Park, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset, located at 109 N. Oak Park Avenue, sold for $1,800,000.
Finance N Illinois Lodge Financial arranges over $2.5M in financing for two Chicago properties Lodge Financial recently closed $2,560,000 in loans for two Chicago properties. The buildings are both multifamily properties, one in the North Side neighborhood of West Ridge and the other on the South Side in Bronzeville.
CRE N Illinois HOK expands interiors leadership team in Chicago HOK has announced the promotions of three interior design leaders in its Chicago studio. The three—Sarah Oppenhuizen, AIA, LEED AP, WELL AP, Mike Goetz, AIA, IIDA, LEED AP and Javier Buscaglia-Pesquera, AIA, LEED AP BD+C—have extensive expertise in design, project management and operations.
Multifamily N Illinois HFF announces sale of luxury apartment community in St. Charles, Illinois Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Prairie Winds of St. Charles, a 250-home, luxury townhome-style apartment community in the Chicago suburb of St. Charles, Illinois. HFF marketed the property on behalf of the seller, Executive Capital Corporation. TLC Management Co. purchased the offering for an undisclosed amount.
Hospitality N Illinois Do not disturb: Investors ready to hibernate on hospitality Booming economies lead to higher hotel demand, and since the end of the recession the sector has seen incredible expansion. But by the end of the year, real estate investors may be ready to check out of hospitality for a while.
Industrial N Illinois ML Realty Partners acquires 77,330-SF industrial building ML Realty Partners recently acquired a fully leased industrial building at 7750 Industrial Drive in Forest Park, Illinois. The facility is 77,330 square feet and features 12 exterior docks, 24-foot clear height and a one-acre parking lot.
CRE N Illinois Brown Commercial Group facilitates five suburban leases Brown Commercial Group recently represented businesses in five transactions totaling 32,744 square feet in Chicago’s suburban market. The properties are located in Bartlett, Downers Grove, Elgin and St. Charles, Illinois.
CRE N Illinois Graycor adds Weston Tanner as director, construction technology and innovation Graycor, Inc., an Oakbrook Terrace, Illinois-based provider of construction, maintenance and facilities services, has hired Weston Tanner as director, construction technology and innovation. He brings over 15 years of successful technology leadership to his new role helping to shape Graycor's technology strategy related to project delivery.
Retail N Illinois Hanley Investment Group arranges sale of three-tenant retail property in Rockford Hanley Investment Group Real Estate Advisors has arranged the sale of a multi-tenant, pad building in Rockford, Illiinois that is shadow-anchored by a Walmart Supercenter. The 9,000-square-foot building is occupied by Aspen Dental, Sleep Number and FASTSIGNS. The sale cap rate was 7.23 percent.
CRE N Illinois Influential Chicago architect, Stanley Tigerman, dead at 88 Stanley Tigerman, a principal in the Chicago architectural and design firm of Tigerman McCurry and a Fellow of the American Institute of Architects, has died. According to a report in the American Institute of Architects Journal, the architect died at his Chicago home due to complications from chronic obstructive pulmonary disease. He was 88 years old.
Multifamily N Illinois The Paragon, a 500-unit apartment building in Chicago's South Loop, welcomes first residents The first residents have begun moving in at The Paragon, a 500-unit, 47-story apartment building at 1326 S. Michigan Avenue in Chicago. Tenants can now occupy the first 25 floors of the building and will start moving into the remaining 22 floors once interior finishing work is completed in August. The property also includes 7,500 square feet of ground floor retail space.
Industrial N Illinois Industrial Insider: Current trends in industrial property construction With the construction of new industrial buildings currently in full swing, we thought it would be helpful to be aware of the latest trends in planning and implementing the development of a new spec and/or user facility.
Retail N Illinois Kudan Group facilitates two suburban restaurant leases Kudan Group’s Daniel Rubinow completed closings in southwest suburban Evergreen Park, Illinois and north suburban Wheeling, Illinois.
Hospitality N Illinois Convexity Properties proposes new hotel in Chicago's Loop Convexity Properties has proposed building a 13-story, 307-key hotel at 180 W. Randolph Street, which currently contains a non-operational surface parking lot. According to an email from 42nd Ward Alderman Brendan Reilly to his constituents, the select-service hotel would include a lobby and small hotel bar on the ground floor, as well as meeting space on the second floor not to exceed 2,500 square feet.
Industrial N Illinois Lee & Associates negotiates long-term, 308,782-SF lease Lee & Associates of Illinois has closed a long-term lease renewal and expansion for a 308,782-square-foot industrial space located at 880 S. Rohlwing Road in Addison, Illinois. The tenant, Ferguson Enterprises, is renewing their lease on 260,099 square feet and expanding into an additional 48,683 square feet.
Finance N Illinois Berkadia secures $34M in HUD rehab financing for multifamily portfolio Berkadia announced the origination of $34.27 million in construction-to-permanent substantial rehabilitation financing for a two-property portfolio in Rock Island, Illinois, where 100 percent of the units are covered by project-based HAP contracts. The construction loan features an interest-only construction period, a 40-year term with 40-year amortization and a 90 percent loan-to-value ratio.
Student Housing N Illinois For campus-adjacent housing affordability, Illinois comes out on top Proximity to campus is the strongest determining factor for where college students decide to live during their time at school, leading to worries about rent costs. On a new ranking of the most affordable areas near top universities, Illinois had three of the top 10 spots, including number one.
Office N Illinois NAI Hiffman assists National Louis University in lease renewal NAI Hiffman vice president Brian Edgerton represented higher education client, National Louis University (NLU), in its office lease renewal at the Corporetum Office Campus. Owner LNR Partners, LLC was represented by Darren Rogow, director of leasing at Friedman Real Estate.