This Week's Chicago Deal Sheet
Mexican cinema chain Cinemex continues to move forward establishing a presence in the Chicago area. The company will be the anchor tenant at the under-construction Wheeling Town Center. Cinemex signed a 40k SF lease for a 10-screen CMX luxury multiplex movie theater.
Expected to break ground in spring, Wheeling Town Center will feature 300 luxury apartments, 100k SF of dining, retail and entertainment, and a pedestrian plaza. Developer The Lynmark Group named NGKF as the exclusive leasing agent for the retail component; senior managing directors Jim Schutter and Terry Alexa and director Luke Sementa will lead Wheeling Town Center’s brokerage team. The development will be delivered in spring 2018.
Wheeling Town Center will be the third CMX multiplex in the Chicago area. Cinemex is opening at Skokie’s Old Orchard Shopping Center in May and will be one of the anchor retail tenants at Addison & Clark, the mixed-use development from Bucksbaum Retail Properties and M&R Development, across from Wrigley Field.
Entre Commercial Realty’s Brian Bocci repped the buyer, World Bioproducts, and CTK’s Dan Tobin repped the seller in the $3.2M disposition of a 50k SF industrial building at 1600-1648 Northwind Blvd in Libertyville. The buyer acquired the building as part of an expansion and relocation from Mundelein.
Essex Realty’s Steve Livaditis and Joe Scheck repped the seller in the $3.4M sale of Brookside Plaza, an 18k SF shopping center at 6700 Joliet Road in Indian Head Park.
Interra Realty completed the following transactions:
- Dan Byrne, David Goss and Jon Morgan repped the buyer in the $3.25M sale of a 62-unit apartment building at 6800 South Dorchester Ave in Chicago.
- Brad Feldman and Adam Saxon repped both parties in the $1.7M sale of a 24-unit apartment building and adjacent lot at 350 East 59th St in Chicago.
- Jon Morgan repped the Cedar St Co in the $7.25M sale of an office building at 1025 West Sunnyside in Chicago.
Brown Commercial Group completed the following transactions:
- Mason Hezner repped both parties in the sale of a 62k SF industrial building at 1340-1400 Higgins Road in Elk Grove Village. The buyer, Northern Glass, will occupy 40k SF at 1400 Higgins Road while leasing the remaining portions at 1340 and 1370 Higgins Road to Protopak Engineering Corp and Impact Printing and Lithographers, respectively. The seller was SLP Realty.
- Mike Antonelli repped the seller, and Jim Pietrarosso repped buyer SD&S Properties, in the sale of a 64k SF industrial building at 302-318 Roma Jean Pkwy in Streamwood. The building was fully leased at the time of the sale.
Quantum Real Estate Advisors’ Dan Waszak repped the buyer in the $1.3M sale of a multi-tenant retail property at 2061 M-139 in Benton Harbor, MI.
HFF’s Jaime Fink, Jeff Bramson, Mark Katz, Bryan Rosenberg and Patrick Shields repped both parties in the sale of Riverway, a three-building, 869k SF TOD office complex in Rosemont. The buyer is Adventus Realty Trust.
Mid-America Real Estate’s Joe Girardi repped both parties in the sale of Shorewood Crossing, a 174k SF shopping center in Shroewood. The seller was Regency Centers and the buyer was Phillips Edison & Co.
FMI will relocate its HQ from Elk Grove Village to Lincolnshire and consolidate several of its regional facilities to one 71k SF space. Cushman & Wakefield’s Chris Lydon and Britt Casey repped FMI, and Nicholson, Porter & List’s Adam Stokes repped the landlord, UBS, in the 10-year HQ lease at 500 Bond St in Lincolnshire.
SomerCor 504 completed the following refinancings:
- Mobil-Bolingbrook Food Mart obtained $1M in financing to construct a 6,100 SF gas station/convenience store/service restaurant on a 2.81-acre site at 419 South Joliet Road, Bolingbrook.
- Comfort Inn Romeoville acquired $1.1M in financing to purchase a 71-room hotel at 1235 Lakeview Drive, Romeoville.
- Weaver Partners obtained $151k in financing to purchase a 1,900 SF building at 112 Spring St, Batavia.
- DuPage Lighting acquired $305k in financing to purchase a 9,200 SF industrial building at 3990 Commerce Drive, St. Charles.