Ikea To Open Gurnee Store In U.S. Expansion Push: The Chicago Deal Sheet
Ikea unveiled plans Tuesday to open a 66K SF retail outlet in suburban Gurnee, the Swedish retailer's third location in the Chicago area and part of a broader expansion push into the U.S.
The company plans to open 10 new stores across the U.S., including the first city-center store in Los Angeles and three locations in Texas.
The move comes after Ikea opened 14 stores and nine “plan and order points” in the U.S. and Canada during its 2025 fiscal year, bringing the total to 55 stores in the U.S. and 16 in Canada.
"Looking ahead to FY26, we will build on this momentum, focusing on continued investment in the U.S. to make Ikea more affordable, accessible and sustainable," Rob Olson, interim CEO of Ikea U.S., said in a statement.
The company's other Chicago-area locations are in Schaumburg and Bolingbrook.
PEOPLE
Lee & Associates hired Eric Luhrsen as a vice president. Luhrsen joins the firm with over eight years of commercial real estate brokerage experience, most recently with Marcus & Millichap, where he specialized in early education facilities, retail properties and single-tenant net lease investment sales. Luhrsen will bring a clear vision to build a net lease investment sales platform for the company.
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Nixon Peabody promoted Spenser Sotolongo to counsel in its affordable housing and real estate division. Sotolongo's practice encompasses real estate matters throughout the Chicagoland area and the Midwest, including development, acquisitions, dispositions, leasing and financing.
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KTGY made a host of promotions in its Chicago office, as Timothy Schwarz was named a principal and Jessica Alexander was promoted to interior design director. The company named Quinn Andersen interior design manager, while Rachel Feit was promoted to interiors resource manager and Cristy Worden was named senior interior designer. Also, Landry Cazier was named interior designer II, and Kirsten Juskiewicz was promoted to interior designer III.
SALES
JAB Real Estate bought a 50-unit multifamily building at 520 W. Stratford Place in Lakeview for $14M. Built in 1927, the courtyard building features 13 studio, 24 one-bedroom, one three-bedroom and six four-bedroom layouts. Interra Realty's Joe Smazal represented JAB and the seller.
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An undisclosed buyer purchased a 19K SF industrial building on 1.56 acres at 3500 Grand Ave. in Gurnee. The property features 15-foot clear ceiling heights, about 9K SF of showroom space, expansion land, one exterior dock and one drive-in door. Entre Commercial's Brian Bocci represented the seller in the transaction.
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A New York-based buyer scooped up 1455 N. Milwaukee Ave., a mixed-use retail and medical property in Wicker Park. The two-story, 11K SF property is occupied by Barry's Bootcamp on the ground floor, and the upper level is leased to medical services provider Kindbody. Greenstone Partners’ Danny Spitz and Brewster Hague represented the seller and procured the buyer.
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A private partnership based in Illinois paid about $3.1M for 633 S. Laflin St., a 16-unit, value-add multifamily property in Little Italy. The three-story building is about 11K SF and features a mix of one- and two-bedroom apartments. Greenstone Partners’ Tom Galvin and Brewster Hague represented both parties in the deal.
