ILLINOIS POTTERY BARN TO OPEN AT WESTFIELD OLD ORCHARD MALL REDEVELOPMENT plans will be unveiled later this year. SKOKIE, ILL. — Home furnishing retailer Pottery Barn is relocating its store at West eld Old Orchard, joining Arhaus, Puttshack and Zara in the former Lord & Taylor space set to open in summer 2024. Unibail-Rodamco-West eld owns West eld Old Orchard shopping mall, which is undergoing redevelopment. The center is set to welcome six new retailers over the next year. Jewelry brand Little Words Project and Canadian women’s fashion brand Aritzia opened in December. Urban Out tters is opening in January, and Italian intimates store Intimissimi is slated to open in the spring. West eld Old Orchard will also welcome new dining options, including local all-day lounge Cupitol and Cafe Castemila, an independently owned café and bakery. The redevelopment of the former Lord & Taylor department store is part of a multi-phase plan at West eld Old Orchard that was rst announced in 2022. Plans also call for new residences, dining establishments, wellness facilities and outdoor amenities such as a public park and event space. More detailed PENN ENTERTAINMENT BREAKS GROUND ON $185 MILLION HOLLYWOOD CASINO JOLIET INTERRA REALTY BROKERS $9.6 MILLION SALE OF APARTMENT BUILDING JOLIET, ILL. — PENN Entertainment has broken ground on the $185 million Hollywood Casino Joliet at RockRun Collection in Joliet. The casino will anchor RockRun Collection, a 1 million-square-foot mixed-use development that is under construction. Cullinan Properties is the owner and developer for the 310-acre project. The land-based casino will feature approximately 850 slots and 44 live table games, including a baccarat room, retail sportsbook, bars and restaurants, and an approximately 10,000-square-foot event center with meeting areas. There will also be roughly 1,330 parking spaces. PENN expects to create 450 construction jobs and 515 permanent jobs at Hollywood Casino Joliet. The development will take about 24 months to construct. RockRun Collection is slated to include 570 apartment units, 500 hospitality rooms, 150,000 square feet of of ce space, 500,000 square feet of retail and restaurant space, an outdoor amenity area and entertainment space. CHICAGO — Interra Realty has brokered the $9.6 million sale of a 28-unit apartment building in Chicago’s Lincoln Park neighborhood. Located at 1900-16 N. Lincoln Ave., the property features a mix of studio, one-and two-bedroom units. The building, constructed in 1906, underwent a capital improvement program for new appliances, countertops, cabinets and oors. Joe Smazal of Interra represented the buyer, Chicago-based ICM Properties. He also represented the local private seller. The property was fully occupied at the time of sale. training room, cafeteria, tness center, outdoor volleyball court and walking path around Wood eld Lake. The building is situated just west of Wood eld Mall and is divisible for up to seven tenants. Alissa Adler and John Homsher of Colliers represented the seller, Orion Schaumburg LLC. A private investor purchased the asset. Jon Connor and Steve Kling of Colliers also assisted with the transaction. DMG CAPITAL ACQUIRES 72-UNIT ROSELLE LUXURY APARTMENTS COLLIERS ARRANGES SALE OF FORMER EXPERIAN HEADQUARTERS BUILDING SCHAUMBURG, ILL. — Colliers has arranged the sale of a 178,000-square-foot of ce building in the Chicago suburb of Schaumburg for an undisclosed price. The vacant building at 955 American Lane formerly served as Experian’s regional headquarters. Experian vacated the property in August 2023. Built in 1999, the four-story property features a shared parking deck, conference center, ROSELLE, ILL. — DMG Capital, the multifamily investment af liate of Chicago-based Daniel Management Group (DMG), has acquired Roselle Luxury Apartments in the Chicago suburb of Roselle for an undisclosed price. DMG Capital partnered with JDI Realty and The Wolcott Group, two Chicago-based real estate investment rms, to acquire the 72-unit apartment community. DMG has managed Roselle Luxury Apartments since September 2022. All of the property’s units are two-bedroom layouts. The seller was undisclosed. JLL BROKERS SALE OF 125,826 SF SHOPPING CENTER IN AURORA Expert knowledge, unmatched service. Over $1 Billion in apartment financings in Missouri and Kansas AURORA, ILL. — JLL Capital Markets has brokered the sale of Aurora Commons, a 125,826-square-foot, open-air shopping center in Aurora. The sales price was undisclosed. Built in 1988, the property is 75 percent leased to tenants such as Ross Dress for Less, DD’s Discounts, Five Below, Dollar Tree, T-Mobile and H&R Block. Cermak Fresh Market shadow anchors the center, which is located at 1272 N. Lake St. Michael Nieder, Keely Polczynski and Caity Tirakian of JLL represented the seller, IRC Retail Centers. Sperry Equities was the buyer. OPUS BREAKS GROUND ON 360,000 SF SPEC INDUSTRIAL DEVELOPMENT IN ALSIP Contact one of our loan officers today to discuss your financing needs! gershmaninvestmentcorp.com 7800 Forsyth Blvd, Suite 700 St. Louis, MO 63105 314-889-0600 ALSIP, ILL. — The Opus Group has broken ground on Alsip Park 294, a two-building speculative industrial development totaling 360,000 square feet in the southern Chicago suburb of Alsip. Opus is completing the project in a joint venture with Principal Asset Management. Building A will total 190,935 square feet and feature a clear height of 32 feet, 18 dock doors, two drive-in doors and 169 auto parking stalls. Building B will total 169,064 square feet and feature a clear height of 32 feet, 18 dock doors and 138 auto parking stalls. Completion is slated for August 2024. Opus is the developer, design-builder, architect and structural engineer. Brian Kling and Jake Spinell of Colliers are marketing the buildings for lease. 6 • January 2024 • Heartland Real Estate Business www.REBusinessOnline.com
Heartland Real Estate Business January 2024: 6
