|Inland Real Estate Acquisitions' Lou Quilici, on behalf of Inland Diversified Real Estate Trust, arranged the acquisition of the 128k SF South Elgin Commons for $25M. It's fully leased and is anchored by Ross Dress for Less, Toys ‘R’ Us, and LA Fitness. A pad with 11k SF of capacity was part of the sale. The shopping center is shadow-anchored by Super Target and Home Depot.
|Podolsky Northstar CORFAC International's John Homsher and Adam Tarantur repped the seller in the sale of a 32k SF office/flex building in the Woodfield business district. It was 35% occupied, but the buyer, Larry Aronson of Aronson Advertising, will use another 10k SF.
PowerLink Electric, repped by Newmark Knight Frank Epic's Tom Boyle and Jared Paff, bought the 25k SF 400 Corporate Woods industrial building in Vernon Hills. Paine/Wetzel/TCN Worldwide's Whit Heitman, Samuel Badger, and Brad Weiner repped the seller, Brevini USA.
Wells Core Office Income REIT bought the 172k SF, five-story Four Pkwy N in Deerfield from JBC Funds Parkway North LLC for $41M. It's fully leased to CF Industries Holdings and Lundbeck.
Kinter's former HQ in Gurnee, a 30k SF industrial building at 3982 Ryan Rd, has sold to Eirich Machines, which occupies the building next door. Newmark Grubb Knight Frank's Thomas Boyle repped the seller.
Newcastle Ltd acquired the 13,500 SF 1542 N Damen Ave and the 18-unit 2010 W Pierce Ave apartment building in Bucktown for $9.9M on behalf of its $500M Chicago real estate investment platform. 1542 Damen is leased to Penny's Noodles, Blue Line Bar & Grill, Greener Cleaner, and two office tenants, and the apartments are fully leased.
The Boulder Group's Randy Blankstein and Jimmy Goodman repped the seller in its $1.1M sale of the 2,500 SF Budget Rent a Car at 8940 S Cicero Ave in Oak Lawn to a Canadian high-net-worth individual. Budget has a net lease with four years remaining and two renewal options.
Rock Prairie Partners bought 8,000 SF of retail at 7-19 Prairie Ave in Highwood. Lee & Associates' Rick Scardino worked on the deal. School of Rock will occupy half the building.
***Lee & Associates' Terry O’Hara repped American Chartered Bank in its sale of three acres at 3920 Hawthorn Court in Waukegan to ECS Roofing.
Indorama Ventures (Oxide & Glycols) leased 7,000 SF at Riverwoods Corporate Center. Podolsky Northstar CORFAC International's Corey Chase repped the landlord, RCC JV LLC, and Randy Podolsky and Adam Tarantur repped the tenant.
Kudan Group's Scott Reinish repped The Shops at Aptakisic, the landlord of the former Dragon Fire at 1663 Buffalo Grove Rd, in a new lease to Firewood Kabob, which was repped by his colleague Frank Trenholm. The 2,000 SF restaurant will open in September.
Kudan Group also negotiated the lease of the former Sushi Luxe at 5204 N Clark in Andersonville to the owners of Shiso Japanese Restaurant and Sushi Bar in Old Town, Sansern Nitithanyaratana and Nantakarn Chotipunyo, who plan to open a Thai-fusion restaurant in the space this fall.
Lee & Associates completed the following leases:
|CONSTRUCTION & DEVELOPMENT
|Oxford Development Partners selected Principle Construction Corp to demolish the interior of a 43k SF former Wicks Furniture at 825 S Rand Rd in Lake Zurich and expand a parking lot from 184 to 300 spaces for an LA Fitness. Mike Long is project manager and Tom Sterbenz is superintendent. Amstadter Architects & Civilech are providing architectural services.
Design + Build completed healthcare communications consultants Emmi
Solutions' 20k SF HQ in the top floor of the historic, 12-story 300 W Adams in the West Loop. Dave Mooney was senior project manager and Josh Halagiere was project engineer. Eastlake Studios was the architect.
***Reed Construction won the award to build Silver Cross and Cadence Health's Angio Neuro Bi-Plane Lab at New Lenox's 1900 Silver Cross Blvd. Brian Courtney will lead construction, and RTKL Associates will handle architecture. RLB Garrison repped the owner.
Thornton Tomasetti promoted Thomas Polous to senior principal and Edward Peck, Robert Stadler, and Adam Abbesyala to VP.
IA Interior Architects hired Tish Kruse as director of workplace strategy from JLL. She has also led HOK Chicago's interiors practice.
***Pine Tree Commercial Realty appointed Vatsal Desai creative director and property associate. He interned at Gensler Chicago and Gilfillan Callahan Nelson Architects and has a Master of Architecture degree from the University of Illinois at Urbana-Champaign.