Contact Us
News

This Week's Chicago Deal Sheet: 17-Building Industrial Portfolio Trades Hands

SL Industrial Partners, a member of The Silverman Group, acquired a 17-building portfolio totaling 925K SF of industrial flex space across three business parks in the Lake County and Northern Fox Valley submarkets.

Placeholder
SL Business Center in Elgin

The properties in Buffalo Grove, Vernon Hills and Elgin are 92% leased. The sales price wasn't disclosed. The acquisition grows SL Industrial Partners’ presence in the Chicago market from 800K SF to just under 2M SF. 

“Smaller flex space has proven to be a critical asset for businesses looking for highly functional and well-located industrial facilities,” Silverman Group President Blake Silverman said in a press release. “Expanding our presence in Chicago further underscores our confidence in the strength and resilience of both the product and the market.”

An institutional owner sold the portfolio, with Cushman & Wakefield's Mike Tenteris, Adam Tyler and Jim Carpenter representing the seller.

PEOPLE

Daniel Management Group made four promotions across its senior leadership team. The company promoted Kenia Rivera to vice president of property management, Jonathan Sheil to vice president of operations, Lauren Evett to senior regional property manager and Hannah Murray-King to senior people operations manager. 

***

The Inland Real Estate Group named Stacey Gore-Brown its new chief human resources officer and executive vice president. Gore-Brown will be responsible for developing and executing the human resources strategy in support of the overall business plan and strategic direction of the organization. In 2023, Gov. J.B. Pritzker appointed Gore-Brown to the Illinois Labor Advisory Board. The Illinois Senate confirmed the appointment.

***

Lee & Associates of Illinois promoted Michael Petrik to senior associate. Petrik joined Lee & Associates in 2021 as a retail specialist focused on the metropolitan Chicago and central Illinois markets. He represents tenants and landlords in retail property sales and leasing.

***

Dave Lancaster joined Cushman & Wakefield as executive managing director of the firm’s equity, debt and structured finance platform. Based in Chicago, Lancaster will provide EDSF services focused on capital markets advisory for production homebuilders throughout the U.S. 

SALES

Legal & General acquired Arkadia, a luxury 350-unit apartment building in the West Loop, for an undisclosed price. Arkadia is a 35-story luxury apartment built in 2015. L&G worked with Taurus on the acquisition and will continue to partner with the firm and its strategic energy affiliate, EcoSmart Solution, to execute real estate and decarbonization strategies enhancing property value. 

***

Placeholder
Arkadia West Loop

An East Coast-based buyer purchased a multitenant loft office property at 405 W. Superior St. for about $5.3M from Expansive. The property features a diverse tenant mix, including one retail tenant and full-floor occupants spanning a variety of technology, energy and marketing companies. Greenstone Partners' Jason St. John and Danny Spitz represented the seller. Newmark's Mitchell Loveman and Jimena Sayavedra represented the buyer. 

***

Wayland Real Estate Capital bought The Andersonville Collection, a contiguous four-parcel mixed-use asset at 5300-5310 N. Clark St. in Andersonville for $8.3M from the Stotis family. Wayland also procured fixed-rate debt with a 10-year term from Stancorp, the lending arm of Standard Life Insurance. Baum's Ari Topper, Tyler Dechter and Owen Wiesner represented the seller. 

***

Hernandez Development and Xsite Real Estate closed for $2M on a 6-acre parcel in Deer Park for a future Class-A self-storage facility. The project will include a 123K SF climate-controlled self-storage facility, a 6K SF multitenant building with a drive-thru and a dedicated drive-thru-only for Scooter’s Coffee. 

***

Range Group and HSA Commercial Real Estate acquired two adjacent parcels totaling 2.25 acres in the Kinzie Planned Manufacturing District on the Near West Side for an undisclosed price. The firms plan to develop a pair of 35K SF small-bay warehouses on the sites at 2519 W. Fulton Ave. and 2520 W. Lake St.

***

Autumn Ridge paid about $4.9M to Fortec for the redeveloped Barrington School District headquarters. The Nest Schools signed a 17-year lease after the property was redeveloped, which will transfer to Autumn Ridge. The 12K SF building serves approximately 200 students between the ages of 6 weeks and 12 years old. 

LEASES

ComPsych Corp. signed a 50K SF, long-term headquarters lease on the seventh floor of One Pru. The company will make the move from NBC Tower, where it occupies 152K SF, in Q1 2027. JLL’s Brian Means and Kellen Monti represented ComPsych, while Riverside Investment & Development's Annie Kwasigroch and Dan Heckman represented Wanxiang America Real Estate Group, the building's owner.

CONSTRUCTION AND DEVELOPMENT

Placeholder
A rendering of Deerfield Supportive Living

Skender broke ground on Deerfield Supportive Living, a 105K SF project that will provide supportive senior housing at 1101 Lake Cook Road in Deerfield. Developed by Celadon Partners, the four-story building consists of 147 units of affordable senior living apartments. The project is expected to be completed by mid-2026.

***

Premier Design + Build Group recently completed Phase 1 at The Logistics Campus, a master-planned logistics campus for industrial real estate developer Dermody Properties. The first phase of The Logistics Campus consists of more than 1.2M SF across five buildings, with more than 2M SF available for future phases.

FINANCING

Placeholder
A rendering of the Residences at Eastbank

Waterton announced a $16M preferred equity investment for the development of the Residences at Eastbank, a five-story, 258-unit mid-rise apartment building at 100 N. Broadway in downtown Aurora. The project is sponsored by Chicago-based DAC Developments with additional support from the city of Aurora. The investment was arranged by Wheaton-based Geneva Capital Group, which also provided the $45M senior loan for the project on behalf of its bank syndication program. Construction began in May 2024 and is expected to be completed in 2026.