CRG Starts Construction On 364K SF Industrial Campus: The Chicago Deal Sheet
CRG kicked off construction on The Cubes at Roosevelt & Kostner, a two-building, 364K SF industrial campus.
The project is on a 20.8-acre site at the southwest corner of Roosevelt Road and Kostner Avenue in North Lawndale and is being developed in a joint venture with Related Midwest and 548 Development. The development will bring online modern logistics facilities and community amenities, with the first buildings scheduled for delivery in the third quarter of 2026.
“The Cubes at Roosevelt & Kostner will bring much-needed Class A industrial space to one of Chicago’s most supply-constrained infill markets,” Susan Bergdoll, CRG senior vice president and partner for the Midwest region, said in a release.
The development will have two 182K SF industrial buildings, each featuring 36-foot clear heights. Together, the facilities will offer 54 dock-high loading doors, four drive-in doors, 323 car parking spaces and 84 trailer parking stalls.
The campus was designed by Lamar Johnson Collaborative and Ware Malcomb.
PEOPLE
Hiroshi Sango joined Baker Barrios Architects as associate principal and technical director, focusing on the firm’s mixed-use practice. He was previously an associate principal for Goettsch Partners.
***
Transwestern Real Estate Services appointed Blake Johnson as executive managing director, Chicago market leader. Johnson will oversee the firm’s Chicago operations and drive strategic growth. He was most recently an executive vice president and senior partner with CBRE.
SALES
Alterra IOS acquired a 2.8-acre industrial outdoor storage site with more than 35K SF of accompanying warehouse space in Elmhurst for an undisclosed price. The property at 216 W. Diversey Ave. is fully leased to a company in the heavy-duty truck sector. One Commercial Real Estate's Alessandra Bianchi represented Alterra in the acquisition.
***
Continuum Development acquired Church Street Plaza, a 145K SF retail complex in Evanston, for $31.2M. The property at 900-950 N. Church St. is 98% occupied, with tenants including a 12-screen AMC movie theater and a Sky Zone indoor entertainment park. Continuum has proposed a 27-story, 358-unit residential tower on the northwest portion of the site.
***
A REIT purchased Pebblewood Commons, a 20K SF neighborhood shopping center in Naperville, for an undisclosed price from Northern Builders. The center, at 1975-1979 McDowell Road, was built in 2008.
LEASES
Rowan Electric Appliance signed a 133K SF lease with ML Realty Partners in a new industrial building at 2110 Wallace Way in Woodridge. The freestanding building features 32-foot clear heights, 38 exterior truck docks and two drive-in doors. Topsky Realty's Alex Zhang and Cloudup Realty's Pengfei Zhang represented Rowan Electric in the deal, and NAI Hiffman's Mark Moran, Dan Leahy and John Whitehead represented ML Realty Partners.
***
Jensen-Souders and Associates signed a 105K SF lease at 3905-3925 Morreim Drive in Belvidere. The company renewed and extended its 60K SF lease and added 45K SF to occupy the entire building. Lee & Associates' Jeff Janda and Jeff Galante represented the tenant, while LandMark Real Estate Group's Shane Van Sickle represented landlord Stag Industrial.
***
Tishman Speyer secured lease agreements with Rewards Network and CVS Health to occupy 82K SF at 525 West Monroe, a renovated 900K SF office tower in the West Loop. Rewards Network will relocate its headquarters to the tower’s 41K SF sixth floor in September 2026. CVS Health's new office will span 41K SF across the tower’s fifth floor.
CONSTRUCTION AND DEVELOPMENT
Continental Properties opened Authentix South Elgin, a residential community offering 336 garden-style apartment homes at 1300 N. Lancaster Road in South Elgin. The community features a mix of studio, one-, two- and three-bedroom apartment homes.
***
UrbanStreet Group broke ground on Veridian’s 30-acre retail district in Schaumburg. The first phase of the district will deliver 100K SF of retail and international cuisine and 321 apartments. At full build-out, the district will include more than 200K SF of retail and restaurant space and over 600 residential units.
FINANCING
Marquette Cos. launched its Marquette SE Fund 25, a co-investment sponsor equity fund with a target size of $15M for investment in high-quality multifamily developments with value-add opportunities.
While not restricted by geography, the focus of the fund will be on properties in the Midwest, with acquisitions taking place over the next 18 months. The fund is open to high net worth individuals, family offices, wealth management advisers and other accredited investors.
THIS AND THAT
Coldwell Banker Commercial launched Coldwell Banker Commercial Carris Capital, a newly formed commercial real estate advisory firm led by Jim Carris. Based in Libertyville, the firm will serve downtown Chicago and its surrounding suburbs. Carris has held senior roles with Colliers, CBRE and JLL.
