RE Journals – The Midwest’s leading source for commercial real estate news
The latest headlines from
Illinois Real Estate Journal
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CRE Future Leaders: Chris Mergenthaler of DarwinPW Realty
Currently Vice President, Chris joined Darwin Realty/CORFAC International after graduating from the nationally-recognized Florida State University College of Business where he studied finance and entrepreneurship, with a specialization in real estate.

A Miracle on Michigan Avenue: Black Friday/Cyber Monday sales shatter records across the U.S.
Another Black Friday in the books. Gone are the days, it seems, of waking up at 5 a.m. to get a jump on the day’s deals, but that doesn’t equal less activity. In fact, 2022 saw the highest numbers in a while.

Crystal Lake is the clear leader for real estate business development
The City of Crystal Lake continues to grow, leading to strong retail, office and industrial real estate markets with outstanding, ongoing opportunities for growth.

Midwest Industrial Funds announces full occupancy at Joliet spec building
Midwest Industrial Funds, a vertically integrated national real estate investment company, announced achieving 100% occupancy at its 187,522-square-foot warehouse at 101 Dollar Tree Lane in Joliet. The industrial development is located on 14.26 acres in Will County with access to the interchange of I-80 and Route 53. This Class-A facility features precast concrete with glass construction, high image office entrances, 32-foot clear ceiling heights, up to 50 dock doors, 72 off-dock trailer positions and an ESFR fire suppression system.

Metro Edge reveals team for $257 million data center at IMD
Metro Edge Development Partners, a commercial real estate development firm and minority business enterprise (MBE), announced it has finalized agreements with Corgan, Clune Construction, Power Construction, and Ujamaa Construction to design and build its data center in the Illinois Medical District (IMD). They join T5 Data Centers as the team that will design, construct, and operate the data center. 

Essex Realty closes unique $4 million Fulton River transaction
Chicago-based multifamily brokerage firm Essex Realty Group, Inc. recently facilitated the sale of 401 North Milwaukee Ave., a mixed-use property located in Chicago’s Fulton River District.

Industrial Outdoor Ventures announces plans to serve industrial users at Illinois-Wisconsin border
With the acquisition of two parcels totaling 56 acres of land near the Illinois-Wisconsin border in Zion, Industrial Outdoor Ventures (IOV) is moving forward with the development of its Trumpet Park Spec Development, a pair of planned Industrial Service Facilities (ISFs). Combined, the two projects could offer almost 1,200 truck trailer parking spaces, more than 26,000 square feet of maintenance and service buildings and have a construction cost in excess of $35 million.

Baird & Warner breaks ground on custom-built office to house 400-500 real estate agents in Naperville
Baird & Warner, Illinois’ largest family-owned independent real estate services company, broke ground on a new office at 1528 Aurora Ave., in Naperville, Illinois. The 15,000-square-foot, built-to-suit office is designed to house up to 500 Baird & Warner agents when it opens in 2023.

Bratt Capital Partners launches high-velocity logistics facility near Chicago
Locally based Bratt Capital Partners has broken ground on a nearly 100,000-square-foot logistics facility in suburban Chicago and selected Cushman & Wakefield’s Al Caruana and Britt Casey to market the property to prospective tenants.

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