This Week's Chicago Deal Sheet: Google Set To Open First Midwestern Retail Store
Google will open its first brick-and-mortar retail store in the Midwest on Friday.
The store, at 63 Oakbrook Center in Oak Brook, is Google's fifth retail location, following openings in Boston, Chelsea and Williamsburg in New York, and Mountain View, California. The Chicago area store is also the company's first in a shopping center.
Visitors to Google's Oakbrook store will get a hands-on experience with its products, services and AI experiences, the company said in a release. Shoppers will be able to browse and buy a selection of products made by Google at the Oakbrook site.
“For the first time ever, shoppers in the Chicago area will be able to have hands-on experiences in a dedicated retail space with products made by Google, such as Pixel phones, watches and tablets, Nest cameras, Fitbit trackers and branded merchandise,” the company said in a release.
PEOPLE
Cross Street hired Erin Higgins as its national leasing director. Higgins comes to the role with over a decade of experience in the industry, most recently working as vice president of leasing and marketing for CA Ventures.
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Lee & Associates promoted Andrew Block to principal from executive vice president. Block has been a key member of the firm’s industrial services group for more than eight years, focusing on Chicago’s west suburban market, specifically the Interstae 88 Corridor and Fox Valley areas.
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Daniel Management Group promoted Lyndi Merced to regional property manager. Merced will help manage DMG’s portfolio of more than 4,000 units and continue the growth of its pipeline.
SALES
AES USA Corp. bought a 20K SF industrial warehouse at 989 Pauly Drive in Elk Grove Village for $1.9M. from Rumco Acquisition Corp. Brown Commercial Group Vice President Mason Hezner represented the buyer, while CBRE represented the seller.
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Imports Unlimited bought a 0.79-acre land parcel at 4015 Grove Avenue in Gurnee for an undisclosed price from Abbott Land. Lee & Associates principal Rick Scardino represented the seller, while Coldwell Banker's Paul Proano represented the buyer.
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A local private buyer purchased The Bel, a mixed-use building at 937-941 W. Belmont Ave., for $12.1M from a local private developer. The building features 37 apartments and two ground-floor commercial spaces. Interra Realty's Joe Smazal and Mark Dykstra represented the buyer, and Smazal, Dykstra and Interra's Lucas Fryman represented the seller.
LEASES
A local transportation company leased a 22K SF logistics facility at 30 Sangra Court in Streamwood. The company is relocating its headquarters to the location.
@Properties represented the tenant in the deal, while Entre Commercial Realty's Mike DeSerto and Cory Kay represented the landlord.
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The Office of the State Appellate Defender and Masuda Funai renewed leases at 203 N. LaSalle St. OSAD inked a deal for 36K SF in the building, while Masuda Funai signed a lease for 16K SF. Transwestern's Kathleen Bertrand, Eric Myers and John Nelson represented building ownership, Sumitomo Corporation of Americas, in the deals.
CONSTRUCTION & DEVELOPMENT
Skender started construction on United Yards, a master-planned affordable housing development in Back of the Yards. The three-building project, set to deliver in October 2025, is a joint venture partnership between developers Celadon Partners and Blackwood Group. Designed by architect DesignBridge, the project consists of a 45-unit, six-story apartment building with a ground-floor business entrepreneur hub and youth programming space at 4703 S. Justine St., plus two three-flat modular apartment buildings at 1639 and 1641 W. 47th St.
FINANCING
JLL Capital Markets secured $63M in financing for a portfolio of five Class-A industrial buildings in the Chicago area. Stream Realty Partners received the fixed-rate, five-year loan. These distribution and warehouse facilities total 704K SF, featuring suites ranging from 25K SF to 174K SF.
