Office N Illinois
First look: The Post Office unpackaged

First look: The Post Office unpackaged

For over 20 years, it sat vacant and imposing, overlooking the westerly approach to Downtown Chicago. Now the Old Post Office is nearly ready to welcome its first office tenants to an adaptive reuse that has implications beyond the building’s footprint.

Industrial X Missouri
NAI Hiffman closes sale-leaseback of Missouri manufacturing facilities

NAI Hiffman closes sale-leaseback of Missouri manufacturing facilities

NAI Hiffman completed a sale-leaseback transaction on behalf of Young Innovations, Inc., a global manufacturer and distributor of consumable dental supplies and equipment. The assets, which sold for $17.1 million, include the company’s 95,000-square-foot headquarters building at 2260 Wendt St. in Algonquin, Illinois, as well as the firm’s three manufacturing and distribution facilities totaling 117,400 square feet in Earth City, Missouri, a suburb of St. Louis.

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.

CRE Midwest
2260 Wendt Street in Algonquin, Illinois.

NAI Hiffman arranges $17M sale-leaseback for Young Innovations in IL, MO

NAI Hiffman completed a sale-leaseback transaction on behalf of Young Innovations, Inc., a global manufacturer and distributor of consumable dental supplies and equipment. The assets, which sold for $17.1 million, include the company’s 95,000-square-foot headquarters building at 2260 Wendt Street in Algonquin, Illinois, as well as the firm’s three manufacturing and distribution facilities totaling 117,400 square feet in Earth City, Missouri, a suburb of St. Louis.

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.