Office N Illinois The Rosemont revival: What’s behind the O'Hare office market boom? Suburban millennials? Yes, they exist—and in fact, they like to work in the suburbs, too. Many people mistakenly assume that members of the millennial generation largely want to live in downtown areas. However, the generation that begins to turn 40 this year is more nuanced and geographically diverse than common assumptions would suggest.
Industrial N Illinois Transwestern sells 178,500-SF industrial building in O'Hare submarket Transwestern Development Co. (TDC) has sold a 178,516-square-foot industrial property on behalf of TDC Franklin Park Partners I LLC, a partnership with one of Transwestern Investment Group’s (TIG) accounts. The building, which is located at 9100 Belmont Avenue in Franklin Park, Illinois, was acquired by a global real estate investment manager.
Industrial N Illinois Duke Realty delivers new 154,000-SF warehouse in O'Hare submarket Duke Realty has completed a new, 154,000-square-foot logistics property at 901 Chase Avenue in Elk Grove Village, Illinois. The building, which was built on a speculative basis, is located in the high-demand O’Hare submarket near the north cargo gate of the airport and within minutes of the I-90 and I-290/355 interchanges.
Industrial N Illinois Bridge signs first tenant at largest O'Hare spec industrial project, now underway in Itasca Bridge Development Partners has announced the signing of the first lease at Bridge Point Itasca, a three-building, 741,621-square foot industrial campus in Itasca, Illinois. Keyence Corporation will begin occupancy of the space in Q3 of 2020.
Office N Illinois Intelligent Medical Objects gets new offices in the Loop and near O'Hare Leopardo recently completed a 44,000-square-foot headquarters build-out for Intelligent Medical Objects located at 9600 W. Bryn Mawr Avenue in Rosemont, Illinois and a 10,000-square-foot build-out at 30 W. Monroe Street in Chicago. Partners by Design provided interior design services on both projects.
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.
Office N Illinois Redeveloped Concourse Chicago draws corporate relocations to O'Hare submarket NAI Hiffman and Berger Asset Management have secured three leases totaling approximately 8,900 square feet of space at Concourse Chicago. Berger acquired the 12-building complex in 2018 and is currently renovating and repositioning the property, located in the O’Hare submarket.
Office N Illinois TransNational Payments takes 26,000 SF at Pointe O'Hare I in Rosemont Colliers International | Chicago’s Sven Sykes, Tom Volini and Brent Jacob represented TransNational Payments, Inc. in its 26,239-square-foot lease at Pointe O’Hare I, 9550 West Higgins Road in Rosemont, Illinois. The credit card processing services company had been subleasing space at the building for several years.
Industrial N Illinois Lee & Associates of Illinois brokers industrial building sales in O'Hare market Lee & Associates has closed two sale transactions in the O’Hare industrial submarket.
Industrial N Illinois Largest O'Hare spec industrial project breaks ground Bridge Development Partners has broken ground on Bridge Point Itasca, a three-building, 741,000-square-foot industrial project slated for delivery mid-2020. Chris Nelson and Jeff Janda, SIOR, principals of Lee & Associates’ Illinois office, represent Bridge in the marketing of this project.
Office N Illinois McShane delivers new O'Hare office property for Glenstar McShane Construction Company has completed construction of Glenstar O’Hare, a new-build office property on behalf of developer GlenStar Properties. The 150,000-square-foot building was constructed on a 3.5-acre greenfield site at the intersection of the Kennedy Expressway and Cumberland Avenue near Chicago’s O’Hare International Airport.
Industrial N Illinois CA Industrial begins construction on 146,000-SF warehouse near O'Hare Chicago-based CA Industrial, the industrial investment and development division of CA Ventures, has started construction on CA Elk Grove, a 146,029-square-foot, speculative, Class A warehouse at 550 E. Devon Avenue in Elk Grove Village, Illinois. The building, which offers a flexible layout to accommodate either single- or multi-tenant user…
Industrial N Illinois Seefried to develop 72,000-SF spec warehouse in O'Hare submarket Seefried Industrial Properties, along with a long-standing European capital partner, have recently purchased a 3.9-acre site at 2100 S. Wolf Road in Des Plaines, Illinois. Seefried will develop a 72,000-square-foot, spec distribution facility on the property, which is located less than half a mile north of O’Hare Airport.
Multifamily N Illinois Interra Realty nets highest per-unit price for O'Hare multifamily portfolio sale Interra Realty brokered the $3.84 million sale of a four-building, 27-unit portfolio that includes assets on Chicago’s far Northwest Side and in the nearby suburb of Harwood Heights, Illinois. The price equated to $142,370 per unit, the highest to date per CoStar for the submarket, which is less than 10 miles from O’Hare International Airport.
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.
CRE N Illinois City finalizes deal with Studio Gang-led team for $8.5B O'Hare expansion The city of Chicago has reportedly signed a contract with Studio ORD to implement an $8.5 billion expansion of O’Hare International Airport’s terminal space. Studio ORD is a joint venture led by Chicago-based Studio Gang along with Solomon Cordwell Buenz, STL Architects, Corgan Associates and Milhouse Engineering and Construction.
Office N Illinois Clear Height signs Danley's to office lease in O'Hare market Northbrook, Illinois-based custom garage builder, Danley’s, has completed a lease for 4,556 square feet of office space at 1400 S. Elmhurst Road in Elk Grove Village, Illinois, within the O’Hare submarket. Clear Height Properties has owned and managed since May 2018.
Industrial N Illinois Avison Young negotiates 25,000-SF industrial lease in Chicago’s O'Hare market Avison Young negotiated a 25,054-square-foot industrial lease at 1260 Lunt Avenue in Elk Grove Village, Illinois. The O’Hare submarket lease brings the 50,117-square-foot building to full occupancy.
Industrial N Illinois The Missner Group announces one new lease, two renewals in O'Hare submarket The Missner Group announced one new lease and two lease renewals, totaling close to 23,000 square feet for the first quarter of 2019. One renewal is for the firm’s Touhy Industrial Plaza, located at 500 E. Touhy Avenue in Des Plaines, Illinois. The new lease and second renewal is for their newly acquired property at 901-929 AEC Drive in Woo…
Industrial N Illinois ML Realty Partners acquires industrial property near O'Hare Patrick Shannon, senior vice president of ML Realty Partners, announced the acquisition of an industrial building at 701 Devon Avenue in Elk Grove Village, Illinois. The building is 218,000 square feet and features heavy power, 16 exterior docks and 24-foot clear height.