Industrial N Illinois Chicago industrial market charges ahead It seems developers can’t bring industrial supply to market fast enough. Despite the incredible amount of activity, the Chicago-area vacancy rate declined yet again in the third quarter.
Multifamily N Illinois 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…
Office N Illinois 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 prev…
Net Lease N Illinois 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 Chicago Building Congress to honor Joe Antunovich with Award of Honor The Chicago Building Congress (CBC) will recognize Joseph M. Antunovich, FAIA, founder and president of Antunovich Associates, with the 2019 Award of Honor. The CBC gives this annual award to individuals who have distinguished themselves both in the community and in the construction industry as a whole.
Finance N Illinois Aries Capital adds to Chicago office Steve Adams has joined Chicago-based commercial real estate mortgage and investment banking firm, Aries Capital, as assistant vice president. The firm has also relocated its Chicago headquarters to 401 W. Ontario Street in River North.
Multifamily N Illinois West Loop apartment property hits the market Apartment Investment Advisers (AIA) recently brought an 18-unit apartment offering to market in Chicago’s West Loop. AIA exclusively listed and is currently marketing the property located at 25 N. Bishop Street on behalf of the original developer.
Industrial N Illinois Darwin Realty wraps up three Elgin industrial transactions Darwin Realty has completed a sale and two lease transactions in Elgin, Illinois. The industrial real estate deals totaled over 218,000 square feet.
Multifamily N Illinois Marcus & Millichap arranges sale of 24-unit apartment building in Glenwood, IL Marcus & Millichap brokered the sale of Glenwood Apartments, a 24-unit apartment property located in Glenwood, Illinios, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. Terms of the transaction were not disclosed.
Net Lease i Ohio Marcus & Millichap sells Bob Evans restaurant in Ohio Marcus & Millichap recently sold a 5,969-square-foot net-leased Bob Evans property in Eaton, Ohio. The asset sold for $738,889.
Office N Illinois Some Chicago suburbs shedding office tenants The overall suburban Chicago office market comprises nearly 110 million square feet of inventory. But as the suburbs lost more than a million square feet of absorption year-to-date, which areas and property types should investors focus on?
Industrial N Illinois Avison Young listing 497,682K SF industrial portfolio that includes two Chicago-area properties A 497,682-square-foot industrial portfolio that includes properties in the Chicago metro, is on the market. Avison Young was awarded the exclusive sale listing for the portfolio, which is owned by GHP Group, Inc.
CRE N Illinois First look at HOK's O'Hare Airport expansion HOK and Muller & Muller, Ltd., along with the Chicago Department of Aviation, are leading the design of more than 300,000 square feet of new space in Terminal 5. This will be the terminal’s first major expansion since it opened in 1993 and will allow O’Hare to comfortably welcome an increasing number of travelers.
CRE N Illinois Wright Heerema Architects hires new director of business development Chicago-based architectural and interior design firm, Wright Heerema Architects, has appointed Luke Heerema as the new director of business development. Heerema is a seasoned business development professional in the commercial real estate and architecture industry, with previous roles at Cresa Chicago and Interior Investments. In his new ro…
CRE N Illinois Got late-cycle jitters? Ignore the length of this bull market and focus on fundamentals There’s a psychological malady that affects professional athletes in a number of sports: the yips, usually impacting veteran players with years of experience in high-pressure situations. CRE professionals can get the yips too, abandoning what they know in the late stages of a cycle.
Office N Illinois Skender completes interior construction for IWG's coworking brand, Spaces Skender, serving as general contractor, recently completed interior construction of an eight-story, 80,000-square-foot Spaces location, a provider of creative, flexible workspaces, owned by IWG. Spaces has assumed occupancy of the former Sports Authority building at LaSalle and Ontario and, as sole tenant, will enjoy private access to the b…
CRE N Illinois Syska Hennessy promotes Josh Fluecke to principal International engineering firm, Syska Hennessy, has promoted Josh Fluecke to principal. Fluecke, who is based in Syska’s Chicago office, is a global practice leader for critical facilities.
Retail N Illinois Marcus & Millichap arranges $4M sale of Chicago retail property Marcus & Millichap closed the sale of Park Shops, a grocery-anchored center with 47,069 square feet of retail space located at 6400 W. 63rd Street in Chicago. The grocer, Fair Share Super Market, had been operating at the location for 27 years and recently extended for 10 years. The property was under contract within 14 days of going to mar…
Net Lease N Illinois Midwest Commercial Hall of Fame: Boulder Group's Jimmy Goodman Each year, Midwest Real Estate News inducts new members into its Commercial Real Estate Hall of Fame. We are running profiles of these new members each week on REjournals.com. This week, we feature Jimmy Goodman, partner with the Boulder Group in the Chicago suburb of Wilmette, Illinois.
Industrial N Illinois Brown Commercial negotiates 22,000-SF suburban Chicago industrial building sale Brown Commercial Group partner, Mike Antonelli, represented both the buyer and the seller in the sale of a 22,596-square-foot building at 330 Fay Avenue in Addison, Illinois, in Chicago’s DuPage County submarket. Financial details were not disclosed.