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.
Industrial N Illinois Venture One fund adds to its Chicagoland portfolio with two acquisitions 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 acquisition of a 160,012-square-foot, two-building industrial portfolio. The properties are located at 1020 Frontenac Road in Naperville and 1850 Greenleaf Avenue in Elk Grove Village, Illinois.
Multifamily N Illinois Ryan Companies unveils concepts for Naperville rail-adjacent projects After months of meetings with Naperville community members, stakeholder groups, city staff and the City Council, Ryan Companies released a first round of concepts for its Fifth Avenue project, in anticipation of the public meeting scheduled for August 22nd. Ryan was directed by the City Council on July 17, 2018 to create initial concepts fo…
Industrial N Illinois Peak Construction awarded Black Creek Group’s Naperville development Peak Construction Corporation has been awarded Black Creek Group’s Naperville DC project. The 131,040-square-foot, speculative facility located on Frontenac Road will feature 32-foot clear height, 149 parking spaces, 22 dock positions and two drive-in doors. The project recently broke ground and is expected to be completed by the end of the year.
Office N Illinois Aldi expands corporate footprint in Naperville Discount grocer Aldi will expand its headquarters in Illinois, leasing additional space in the Naperville Woods Office Center at 1000-1100 E. Warrenville Road in Naperville. NAI Hiffman has been retained by the property owner, Agellan Commercial REIT, to lease and manage the two buildings.
Office N Illinois Chasing millennial workers—but to the suburbs or the city? Millennials, we are constantly told, desire something different than previous generations. They want to live closer to where they work. They eschew cars for transit cards and suburban homesteads for downtown apartments.