CHICAGO—Holliday Fenoglio Fowler, LP recently arranged a $209 million construction loan for the development of 110 N. Carpenter St., the 567,000-square-foot future global headquarters of McDonald's Corp. located in Chicago's Fulton Market District. HFF worked on behalf of the developer, a partnership between Sterling Bay and investors advised by JP Morgan Asset Management, to place the construction loan with Bank of America and Wintrust Financial. HFF previously helped Sterling Bay secure construction financing through Bank of America for the Fulton West project, located six blocks northwest of McDonald's future home. Sterling Bay plans to deliver 110 N. Carpenter by Spring 2018. It will have 485,000 square feet of office space as well as ground floor retail and underground parking. The HFF team was led by senior managing director Michael Kavanau, managing director Tim Joyce and associate director Christopher Knight.

BRIDGEVIEW, IL—Darwin Realty has just completed the sale of 9900 Industrial Dr. in Bridgeview, IL, a 215,000 square foot industrial building. The firm's Noel S. Liston and Kevin D. Cooney represented the purchaser, Welch Packaging Group, Inc., a manufacturer of corrugated packaging. Welch will relocate from Countryside to the former crane facility to support their expanding Chicagoland operations. The facility offers heavy power, ample land for parking or trailer parking, and is located immediately off I-294. Welch plans to add significant improvements to the Bridgeview building. The seller was represented by Jeff Locascio of Transwestern.

BENSENVILLE, IL—Baum Realty Group, LLC has just completed the sale of a PNC Bank ground lease, 1151 S. York Rd. at Grand Ave. in Bensenville, IL. The Baum sales team of Brad Teitelbaum, Patrick Forkin and Graham Gold represented the seller, a private local investor. The property sold for $2,962,500 to a local, all-cash buyer. “Signalized hard corner grocery outlots with investment grade credit tenants on long term leases are rarely available in the Chicago MSA, which contributed to the strong sales price,” says Teitelbaum.

BUILDING BLOCKS

COLUMBUS, OH—The Columbus Downtown Planning Commission recently approved the second phase of Parks Edge, the luxury condominium development at the corner of Spring St. and Neil Ave. in the Arena District. Construction on the second phase, located directly to the east of the first phase, will begin next month. The developers expect to complete the 12-story building, which will feature 82-units, in spring 2018. Pricing for this East building will range from $465,000 to over $1 million. Initially announced in late 2015, the Parks Edge West building is scheduled for completion in spring 2017.

OAK BROOK, IL—Interforum Holdings of Northfield, IL celebrated a groundbreaking on the site of the newly planned Lakeside Village of Oak Brook rental community on December 16. The development will include 315 apartment homes in a four-story development on six acres. Located on Royce Blvd., one mile north of Butterfield Rd. and 1.5 miles east of Meyers Rd., the property sits on a parcel of unincorporated DuPage County. Architect Orest Baranyk refers to the design of the building as a “Texas Donut” that will include four stories of indoor parking in the center, surrounded by the luxury living spaces. “Offering this level of luxury living in a rental community is trending now,” says Baranyk. “There is a definite need and a very serious lack of supply.” McShane Construction is the contractor for the property. McShane's Mathew Dougherty, executive vice president and regional manager, says they should complete construction by the end of 2018.

DES PLAINES, IL—The Missner Group has just been selected as the general contractor for a new 225,000 square foot Toyota dealership at 6060 N. Western Ave. in Chicago on behalf of the Bob Loquercio Auto Group. Construction began earlier this month. The group owns and operates many auto dealerships around Chicagoland and will relocate from an existing location at 5625 N. Broadway St. The new Toyota dealership will feature a 45,000 square foot green roof, as well as 180,000 square feet of interior space with floor-to-ceiling glass walls throughout their office and sales floor. This interior space will feature a café, client lounge area with a custom aquarium, and a large children's play area.

NEWS & NOTABLES

CHICAGO—Rick M. Scheck has joined Mortenson Construction as a senior project development manager on the Chicago office's business development team. Scheck has more than 20 years of experience, and previously led business development for Scheck Industries, his family's $100 million industrial mechanical contracting business. In that position, he secured new capital and facility maintenance work in the refining, chemical, power, food and beverage, renewable energy and light industrial markets. “Rick brings an impeccable pedigree in Chicago construction to Mortenson,” says Greg Werner, senior vice president and head of Mortenson's Chicago office. “His knowledge and relationships will help us move into new markets while also strengthening our ties with subcontractor partners.” Scheck has worked on many significant projects including the University of Chicago North Residential Commons and US Bank Stadium.

DEALTRACKER

CHICAGO—Holliday Fenoglio Fowler, LP recently arranged a $209 million construction loan for the development of 110 N. Carpenter St., the 567,000-square-foot future global headquarters of McDonald's Corp. located in Chicago's Fulton Market District. HFF worked on behalf of the developer, a partnership between Sterling Bay and investors advised by JP Morgan Asset Management, to place the construction loan with Bank of America and Wintrust Financial. HFF previously helped Sterling Bay secure construction financing through Bank of America for the Fulton West project, located six blocks northwest of McDonald's future home. Sterling Bay plans to deliver 110 N. Carpenter by Spring 2018. It will have 485,000 square feet of office space as well as ground floor retail and underground parking. The HFF team was led by senior managing director Michael Kavanau, managing director Tim Joyce and associate director Christopher Knight.

BRIDGEVIEW, IL—Darwin Realty has just completed the sale of 9900 Industrial Dr. in Bridgeview, IL, a 215,000 square foot industrial building. The firm's Noel S. Liston and Kevin D. Cooney represented the purchaser, Welch Packaging Group, Inc., a manufacturer of corrugated packaging. Welch will relocate from Countryside to the former crane facility to support their expanding Chicagoland operations. The facility offers heavy power, ample land for parking or trailer parking, and is located immediately off I-294. Welch plans to add significant improvements to the Bridgeview building. The seller was represented by Jeff Locascio of Transwestern.

BENSENVILLE, IL—Baum Realty Group, LLC has just completed the sale of a PNC Bank ground lease, 1151 S. York Rd. at Grand Ave. in Bensenville, IL. The Baum sales team of Brad Teitelbaum, Patrick Forkin and Graham Gold represented the seller, a private local investor. The property sold for $2,962,500 to a local, all-cash buyer. “Signalized hard corner grocery outlots with investment grade credit tenants on long term leases are rarely available in the Chicago MSA, which contributed to the strong sales price,” says Teitelbaum.

BUILDING BLOCKS

COLUMBUS, OH—The Columbus Downtown Planning Commission recently approved the second phase of Parks Edge, the luxury condominium development at the corner of Spring St. and Neil Ave. in the Arena District. Construction on the second phase, located directly to the east of the first phase, will begin next month. The developers expect to complete the 12-story building, which will feature 82-units, in spring 2018. Pricing for this East building will range from $465,000 to over $1 million. Initially announced in late 2015, the Parks Edge West building is scheduled for completion in spring 2017.

OAK BROOK, IL—Interforum Holdings of Northfield, IL celebrated a groundbreaking on the site of the newly planned Lakeside Village of Oak Brook rental community on December 16. The development will include 315 apartment homes in a four-story development on six acres. Located on Royce Blvd., one mile north of Butterfield Rd. and 1.5 miles east of Meyers Rd., the property sits on a parcel of unincorporated DuPage County. Architect Orest Baranyk refers to the design of the building as a “Texas Donut” that will include four stories of indoor parking in the center, surrounded by the luxury living spaces. “Offering this level of luxury living in a rental community is trending now,” says Baranyk. “There is a definite need and a very serious lack of supply.” McShane Construction is the contractor for the property. McShane's Mathew Dougherty, executive vice president and regional manager, says they should complete construction by the end of 2018.

DES PLAINES, IL—The Missner Group has just been selected as the general contractor for a new 225,000 square foot Toyota dealership at 6060 N. Western Ave. in Chicago on behalf of the Bob Loquercio Auto Group. Construction began earlier this month. The group owns and operates many auto dealerships around Chicagoland and will relocate from an existing location at 5625 N. Broadway St. The new Toyota dealership will feature a 45,000 square foot green roof, as well as 180,000 square feet of interior space with floor-to-ceiling glass walls throughout their office and sales floor. This interior space will feature a café, client lounge area with a custom aquarium, and a large children's play area.