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?
Retail Midwest Metro Commercial Real Estate brokers 10 new locations for The Edge Fitness Clubs Metro Commercial Real Estate has brokered ten new locations for The EDGE Fitness Clubs in the Chicago, Detroit, St. Louis and Philadelphia markets. The leasing team from Metro was led by senior vice president Brandon Anapol and vice president Scott Benson. Metro is the exclusive regional broker for The EDGE Fitness Clubs throughout the Midw…
Office N Illinois The Shuman opens for business, bringing urban office vibe to the suburbs Franklin Partners has officially opened the doors of The Shuman, a socially activated office building that brings urban vibes to a suburban location. Located at 263 Shuman Boulevard in Naperville, Illinois, The Shuman features an extensive amenity floor to deliver a comprehensive workplace experience outside of Chicago’s central business di…
Multifamily N Illinois CBRE negotiates sale of 206-unit River Run Apartments in Naperville CBRE recently represented the seller, a joint venture between the Marquette Companies and an affiliate of global real estate investment management firm Heitman, in the sale of River Run at Naperville Apartments, a 206-unit multifamily property at 1015 Preserve Avenue in Naperville, Illinois. The property sold to Bridge Capital Partners and …
Multifamily N Illinois A 48-unit apartment property in Naperville sells for $4.6 million Marcus & Millichap closed the sale of Maple Court Apartments, a 48-unit apartment property located in Naperville, Illinois. The asset, which sold for $4,600,000, is located at 1135 W. Ogden Avenue, a strong location with limited turnover making units in high demand.
Office N Illinois Chicago's downtown office market outpaces the 'burbs The Chicago metro area added 63,000 jobs between February 2018 and 2019, according to the U.S. Bureau of Labor Statistics—a 1.4 percent increase. As many of these are high-wage jobs, this employment growth is adding fuel to the fiery downtown office market.
Retail N Illinois Cushman & Wakefield represents seller on Naperville Crossings Cushman & Wakefield closed on the sale of Naperville Crossings, a premier open-air retail center located in the affluent Chicago suburb of Naperville, Illinois. The property was acquired by Phillips Edison & Company. The Cincinnati-based owner, operator, acquirer and developer of shopping centers reportedly paid $49.9 million for the property.
CRE N Illinois Higher Grounds Education purchases new location in Naperville D.B.J Corporation has sold the former Alder School daycare facility located at 5051 Ace Lane in Naperville, Illinois to Higher Ground Education, based out of Lake Forest, California. Linda Kost and Dave Schmidt, partners with Algonquin, Illinois-based Realty Metrix Commercial, represented D.B.J Corporation in the transaction.
Multifamily N Illinois Assessing the multifamily sector, from deconversions to affordable housing The multifamily sector is one of Chicago’s most active asset classes right now. But there are still so many unknowns and evolving trends—from deconversion to affordable housing, co-living to Class A amenities—that it can be hard to get a handle on this lively real estate segment.
Seniors Housing N Illinois Expanded and refurbished affordable senior housing project headed to Naperville Evergreen Real Estate Group has announced plans to upgrade and expand Martin Avenue Apartments, a 122-unit affordable senior housing community in Naperville, Illinois. The $38.6 million project will be completed in partnership with the community’s owner, Naperville Elderly Homes Inc.
Multifamily N Illinois Rockwell Partners completes 356-unit condo deconversion in Naperville Rockwell Partners, a Chicago-based real estate investment and property management firm, has successfully deconverted Huntington Condominiums, a 356-unit residential complex located in Naperville, Illinois, a western suburb approximately 30 miles west of Chicago.
Office N Illinois Chicago’s East-West Corridor underperforms, depending on where you’re looking Chicago’s East-West Corridor runs along I-88, from Westchester out to the fringes of the MSA at the Fox River, with communities like Aurora and St. Charles. But the submarket is bifurcated by another highway, and the performance of office spaces were much different at the close of 2018, depending on which side of I-355 one is looking.
Finance N Illinois Cushman & Wakefield arranges $12M loan for River Square refinancing Cushman & Wakefield’s equity debt and structured finance team has arranged a $12 million loan for the refinancing of River Square, a retail center in Naperville, Illinois.
Multifamily N Illinois Evergreen Real Estate Group grows national affordable housing portfolio Chicago-based Evergreen Real Estate Group has been retained to manage nine affordable housing communities comprising a total of 1,071 units across Illinois, Kansas, Ohio and Wisconsin. The assignments include a mix of affordable housing for families, seniors and people with disabilities, expanding Evergreen’s management portfolio to more th…
Industrial N Illinois Venture One fund acquires 68,676-SF industrial property in Naperville Venture One Real Estate—through its acquisition fund, VK Industrial IV, LP, a partnership between Venture One and Kovitz Investment Group—has closed on the sale-leaseback acquisition of a 68,676-square-foot, two-building industrial property located at 1555-1567 Frontenac Road in Naperville, Illinois.
CRE N Illinois Historic Naperville building sells for $3.6 million Marcus & Millichap announced the sale of the Joseph Naper Building, the oldest building in Naperville, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The 7,050-square-foot, mixed-use property sold for $3,654,000.
Office N Illinois Naperville office building has new name, new look After hinting at their plans in July, Franklin Partners has finally unveiled its redevelopment plans for The Shuman, the five-story office building at 263 Shuman Boulevard in Naperville, Illinois. The Shuman will become a suburban destination for multiple office tenants, offering extensive amenities designed to build community among buildin…
Seniors Housing N Illinois McShane Construction breaks ground on senior housing facility for Avenida Partners As the baby boomer generation continues to age, the need for additional senior housing also grows. McShane Construction Company was recently contracted by Avenida Partners LLC to create an active living apartment community for seniors in Naperville, Illinois. A groundbreaking ceremony was held on Wednesday, September 26th, 2018 where Bob Ma…
Office N Illinois The state of the suburban Chicago office market HFF director Bryan Rosenberg is speaking at our 3rd Annual State of the Suburban Office Market conference on September 20. The event features two panel discussions, “State of the Suburban Office Market,” for which Rosenberg is a panelist, and “Reassessing the Suburban Workplace: Keys to Attracting, Retailing Tenants.” The conference begins …
Office N Illinois Chicago tech firm, SMS Assist, to open second location in Naperville One of Chicago’s fastest-growing technology companies, SMS Assist, announced a major expansion with the opening of a second area office in suburban Naperville. The office will open next month in 2135 CityGate Lane and serve as a call center with up to 400 employees.