Illinois

Associated Bank Provides $17.7 Million Loan for Land Acquisition, Construction of Shopping Center Near Chicago

by Alex Tostado February 26, 2020

Glenview, Ill. — Associated Bank has provided a $17.7 million loan for the acquisition of land and development of a 62,540-square-foot shopping center in Glenview, about 20 miles northwest of Chicago. Known as Willows Crossing, the multi-tenant center will be located at the southwest corner of Willow and Pfingsten roads. Previously signed leases at the project include Mission BBQ, First Watch Café and an undisclosed 35,000-square-foot grocery tenant. Completion is slated for spring 2021. Daniel Barrins of Associated Bank managed the loan and closing on behalf of the borrower and …

February 26, 2020

Illinois Investment sales News Retailers

Mid-America Negotiates Sale of 177,165-Square-Foot Shopping Center in Oak Brook, Illinois

by Alex Tostado February 19, 2020

Oak Brook, Ill. — Mid-America Real Estate Corp. has negotiated the sale of The Shops at Oak Brook Place in suburban Chicago for an undisclosed price. An institutional buyer purchased the 177,165-square-foot shopping center, which is located at the southeast corner of 22nd Street and Midwest Road. Anchor tenants include Nordstrom Rack, T.J. Maxx, Ulta, Old Navy and Nike. Rick Drogosz and Joe Girardi of Mid-America represented the seller, a Canadian real estate investment trust.

February 19, 2020

Development Entertainment Illinois News

CMX CinéBistro Set to Open This Week at Wheeling Town Center in Suburban Chicago

by Alex Tostado February 13, 2020

Wheeling, Ill. — CMX CinéBistro is set to open at Wheeling Town Center on Friday, Feb. 14 in suburban Chicago. The movie theater anchors the retail portion of the mixed-use project. Spanning 40,000 square feet CMX CinéBistro Wheeling will offer a bar and lounge area, seven screens, reclining seats and tables for food and beverage service. After 8 p.m., movie goers must be 21 years of age or older. Previous tenants who have opened at Wheeling Town Center include Starbucks, Inland Bank, AT&T and City Works. The apartments at the …

February 13, 2020

Illinois Investment sales News Retailers

Marcus & Millichap Brokers $5 Million Sale of Retail Building in Wheaton, Illinois

by Alex Tostado February 13, 2020

Wheaton, Ill. — Marcus & Millichap has brokered the sale of an 8,808-square-foot retail building in Wheaton for $5 million. Located at 2040 S. Naperville Road, the newly constructed property is fully leased to four tenants. Dunkin’ anchors the building and maintains a 15-year lease. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a developer. The team also procured the buyer, a limited liability company.

February 13, 2020

Illinois Investment sales News Retailers

Baum Arranges $4.6 Million Sale of Multi-Tenant Retail Property in Wheaton, Illinois

by Alex Tostado January 29, 2020

Wheaton, Ill. — Baum Realty Group LLC has arranged the sale of a net-lease retail property spanning 12,996 square feet in Wheaton for $4.6 million. Tenants include Starbucks, Qdoba, AT&T, Supercuts and UPS. The building is situated near a 116,000-square-foot Jewel-Osco. Patrick Forkin of Baum represented both the undisclosed seller and the buyer, a regional real estate investor.

January 29, 2020

Illinois Investment sales News Retailers

Jameson Commercial Brokers $21.9 Million Sale of Retail Portfolio in Chicago

by Alex Tostado January 22, 2020

Chicago — Jameson Commercial has brokered the sale of a retail portfolio in Chicago’s South Loop for $21.9 million. The portfolio includes a single-tenant Chick-fil-A, a 7-Eleven gas station and an 8,000-square-foot retail building anchored by Aspen Dental. Mark Kishtow of Jameson represented the seller, GW Properties, as well as the buyer, Park 1 Chicago.

January 22, 2020

Illinois Investment sales News Retailers

Mid-America Brokers $1.1 Million Sale of Retail Building in Metro Chicago

by Alex Tostado January 17, 2020

Evergreen Park, Ill. — Mid-America Real Estate Corp. has brokered the $1.1 million sale of an outlot at Evergreen Marketplace in Evergreen Park, about 15 miles south of Chicago. The 5,851-square-foot retail building is home to Cousins Subs, Hair Cuttery and The Crazy Crab. Ben Wineman and Emily Gadomski of Mid-America represented the seller, Sterling Bay. A private buyer purchased the asset.

January 17, 2020

Finance Grocery-anchored Illinois News Retailers

Cohen Financial Arranges $45 Million Refinance Loan for Six Retail Properties in Southeast, Midwest

by Alex Tostado January 15, 2020

Chicago — Cohen Financial, a division of Truist Bank, has arranged a $45 million refinance loan for a 552,143-square-foot retail portfolio spanning Mississippi, North Carolina, Alabama, Ohio, Kentucky and Indiana. Dan Rosenberg and Matt Terpstra of Cohen’s Chicago office represented the borrower, Midland Atlantic Properties, in the loan transaction. Goldman Sachs provided the 10-year, fixed-interest-rate loan. Five of the six properties are grocery anchored. The five grocery anchored properties in the portfolio are: Parkside Square, a 150,344-square-foot, Rouses Markets-anchored property located in Ocean Springs, Mississippi; Maysville Marketsquare, a 144,945-square-foot, Kroger-anchored …

January 15, 2020

Illinois Investment sales News Retailers

JLL Brokers Sale of 193,536-Square-Foot Retail Center in Broadview, Illinois

by Alex Tostado January 10, 2020

Broadview, Ill. — JLL Capital Markets has brokered the sale of Broadview Village Square, a 193,536-square-foot retail center in the Chicago-area community of Broadview. The sales price was undisclosed. Tenants include Ross Dress for Less, Subway, Marshalls, PetSmart, GNC and Sally Beauty. The property sits on 15.9 acres at 700 Broadview Village Square. Amy Sands, Clinton Mitchell and Janice Sellis of JLL represented the undisclosed seller. Bridge33 Capital LLC purchased the asset.

January 10, 2020

Illinois Investment sales News Retailers

Hanley Investment Group Brokers $3.1 Million Sale of Two-Tenant Retail Building in Palatine, Illinois

by Alex Tostado January 9, 2020

Palatine, Ill. — Hanley Investment Group Real Estate Advisors has brokered the sale of a newly constructed, two-tenant retail building in Palatine for $3.1 million. Aspen Dental and T-Mobile occupy the 5,250-square-foot property, which is located on East Dundee Road about 30 miles northwest of Chicago. Completed in 2019, the building is situated near other retailers such as Walmart, Home Depot and Target. Jeff Lefko and Bill Asher of Hanley, along with Greg Dietz and Danny Spitz of Greenstone Partners, represented the seller, a Chicago-based real estate investment and development …

January 9, 2020

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