Illinois

McDonald’s U.S. Sales Rise 4.6 Percent in Third Quarter

by Alex Tostado November 9, 2020

Chicago — McDonald’s Corp. has reported its third-quarter sales rose 4.6 percent year-over-year in the United States. The Chicago-based restaurant chain cited its utilization of delivery, digital orders and drive-thru to recover from its second-quarter sales dip. Globally, sales were still down on a year-over-year basis, dropping 2.2 percent in the third quarter, which ended Sept. 30. The chain’s total revenues were also down 2.2 percent from the third quarter of 2019. McDonald’s reported revenues reached $5.42 billion, which beat economists’ forecast of $5.4 billion. The revenues show a promising …

November 9, 2020

Illinois Investment sales News

Colliers Brokers Sale of Walmart-Anchored Shopping Center in Chicago

by Katie Sloan November 5, 2020

Chicago — Colliers International has brokered the sale of a Walmart Neighborhood Market-anchored shopping center located at 4720 S. Cottage Grove Ave. in Chicago. A private investor purchased the fully leased center for an undisclosed price. Other tenants include Burger King, Subway, Associated Bank and Snipes. Built in 2014, the 54,932-square-foot center is part of a larger development that includes a three-story, 72-unit apartment asset. Alex Perez, Chris Garavaglia and Chris Irwin of Colliers represented the seller, Skilken Gold Real Estate Development. The team also procured the buyer.

November 5, 2020

Finance Grocery-anchored Illinois News Retailers

JLL Arranges $15.7 Million in Acquisition Financing for Retail Center in Libertyville, Illinois

by Alex Tostado October 26, 2020

Libertyville, Ill. — JLL Capital Markets has arranged $15.7 million in post-acquisition financing for Red Top Plaza, a 147,840-square-foot retail center anchored by Jewel-Osco in the suburban Chicago town of Libertyville. The property is also home to a mix of service, essential, restaurant and medical tenants. Christopher Drew, Brian Gaswirth, Christopher Knight and Michael DiCosimo of JLL worked on behalf of the borrower, Florida-based Sterling Organization. An undisclosed insurance company provided the 10-year, fixed-rate loan.

October 26, 2020

Illinois Leasing News Restaurants

Marijuana-Themed Sandwich Shop Cheba Hut to Open First Location in Illinois on Oct. 19

by Alex Tostado October 16, 2020

Chicago — Cheba Hut will open its first Illinois location in Chicago’s Wicker Park on Monday, Oct. 19. The marijuana-themed sandwich shop is located at 1948 W. Division St. The “toasted” sub shop offers over 30 signature sub sandwiches, as well as a variety of treats, salads and munchies and a full-service bar. Drinks like the Dirty Hippie, Hot Box and Cheba Rita are all Cheba Hut signatures. The restaurant will enforce current COVID-19 guidelines, including heightened sanitation protocols, social distancing requirements and requiring all guests and staff to wear …

October 16, 2020

Illinois Investment sales News Retailers

JLL Arranges $2.7 Million Sale of Three-Tenant Retail Building Near Chicago

by Alex Tostado October 14, 2020

South Holland, Ill. — JLL Capital Markets has arranged the $2.7 million sale of a three-tenant retail building in South Holland near Chicago. The 5,000-square-foot property is home to Chipotle, JJ Fish & Chicken and an unnamed corporate wireless provider. Alex Sharrin, Alex Geanakos and Eric Cline of JLL represented the seller, Glazier Corp., which is a local Chicago developer. A Southern California-based private investor purchased the asset.

October 14, 2020

Development Entertainment Illinois News Restaurants

Knoebel Construction Builds Drake’s Restaurant in O’Fallon, Illinois

by Alex Tostado September 30, 2020

O’Fallon, Ill. — Knoebel Construction has completed building a new Drake’s restaurant in O’Fallon near St. Louis. The 6,014-square-foot restaurant and entertainment venue features two full-service bars and a covered patio. Drake’s, an entity of parent company Bluegrass Hospitality Group, is a Kentucky-based chain with 15 locations across the Midwest and Southeast. The restaurant offers more than 20 craft beers on tap as well as sandwiches, salads, burgers and sushi. Drake’s says it is closely following government guidelines for reopening during COVID-19 and working alongside state and local officials to …

September 30, 2020

Illinois Investment sales News Retailers

Marcus & Millichap Brokers $5.1 Million Sale of 7-Eleven Property in Metro Chicago

by Alex Tostado September 21, 2020

Alsip, Ill. — Marcus & Millichap has brokered the $5.1 million sale of a 4,000-square-foot property occupied by 7-Eleven in Alsip, a southern suburb of Chicago. The build-to-suit property is located on 127th Street. The tenant has a 15-year lease. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a local developer. The duo also secured and represented the buyer, an out-of-state investor completing a 1031 exchange.

September 21, 2020

Illinois Investment sales News Retailers

Boulder Group Brokers $4.9 Million Sale of Chicago CVS Property

by Alex Tostado September 8, 2020

Chicago — The Boulder Group has brokered the sale of single-tenant CVS Pharmacy property in downtown Chicago for $4.9 million. The 8,781-square-foot store is located on the ground floor of a 180-unit condo building at 520 S. State St. Randy Blankstein and Jimmy Goodman of Boulder represented both the seller, a local real estate owner, and the buyer, a Southeast-based real estate investment firm. CVS has more than 10 years remaining on its lease.

September 8, 2020

Grocery-anchored Illinois Investment sales News Retailers

Cleeman Realty Group Arranges Sale of Kent Plaza Shopping Center in Springfield, Illinois

by Alex Tostado August 10, 2020

Springfield, Ill. — Cleeman Realty Group has arranged the sale of Kent Plaza in Springfield for an undisclosed price. County Market anchors the 94,260-square-foot retail center, which sits on 9.4 acres. The property was more than 90 percent occupied at the time of sale. Michael Cleeman and Sam Seelenfreund of Cleeman brokered the transaction. A Maryland-based private investment firm purchased the asset from the property’s original owner.

August 10, 2020

Grocery-anchored Illinois Investment sales News Retailers

NARE Investments Acquires 142,195-Square-Foot Shopping Center in Metro Chicago

by Alex Tostado July 31, 2020

Harwood Heights, Ill. — NARE Investments has acquired Harwood Commons, a 142,195-square-foot shopping center in metro Chicago’s Harwood Heights. The purchase price was undisclosed. Harwood Commons, located at 4701 N. Harlem Ave. and built in 1981, is home to Burlington, Marshalls and Aldi. CBRE’s National Retail Partners Midwest team represented the seller, Icahn Enterprises.

July 31, 2020

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