Two construction firms will join forces to build the first phase of the AT&T Corporate Center, a development by Stein & Co. on the southeast corner of Monroe and Franklin Streets. Mayfair Construction Co. and Blount Brothers Corp. will begin work on the 60-story tower in March. AT&T has leased 650,000 square feet, or 46 percent, of the first tower, which along with a proposed 34-story second structure on the site are expected to cost $600 million. The 60-story tower was designed by Skidmore, Owings & Merrill and will be leased by Stein & Company Brokerage. Initial occupancy is expected in early 1989.
Compri opens in Schaumburg
The Midwest`s first Compri Hotel franchise has opened at North State Parkway at Woodfield Road in northwest suburban Schaumburg. The $12 million, six-story, 188-room hotel is designed for the frequent business traveler and features the 5,000-square-foot Compri Club, which the hotel chain describes as an ”innovation where guests can socialize in a residential environment, conduct business in groups or work alone.” The Compri Club amenities include a lounge, bar, library, work desks with telephones, conference room and large- screen television. In addition to the Schaumburg hotel, 13 other Compri hotels are open or under construction around the country. Company officials said 30 hotels will be open or under construction by year`s end.
Preservationists set meeting
Historic architecture of the Mississippi riverfront community of Quincy will highlight the seventh Statewide Preservation Conference scheduled for June 5-7 by the Landmarks Preservation Council of Illinois (LPCI), Illinois Association of Historic Preservation Commissions (IAHPC), Quincy Preservation Commission and Illinois Historic Preservation Agency. Workshops will address economic development, historic preservation and tourism, rural preservation, and setting up preservation organizations. Conference attendees also will have opportunities to visit nearby Carthage and Nauvoo, Ill.; Hannibal, Mo., and Keokuk, Iowa. Registration will cost $15 for LPCI and IAHPC members and $20 for non-members and does not include room and board. Information can be obtained by contacting the Landmarks Preservation Council of Illinois, 53 W. Jackson Blvd., Suite 752, Chicago, Ill. 60604; telephone 922-1742.
Buck opens 190 S. LaSalle
The law firm of Mayer Brown & Platt has completed a move of its 825-person staff and 50,000-volume law library to its new headquarters on the 30th through 40th floors of John Buck Co.`s latest office skyscraper in downtown Chicago, 190 S. LaSalle St. Mayer is Buck`s anchor tenant there, occupying approximately 30 percent of the 42-story, 785,000-square-foot building. Buck also is the project`s leasing and management agent.
Schaumburg Hampton Inn
The Schaumburg Hampton Inn hotel has opened to complete the second phase of development in the 42-acre mixed-use Woodfield Financial Centre located at Higgins and Meacham Roads in the northwest suburb. The four-story, 130-room hotel, which is owned by the Holiday Corporation and managed by North American Hospitality Inc., is the first of three planned for the Chicago area. One is under construction in Lombard and the third is planned for Oak Brook.
Industrial park in Lansing
First National Realty & Development Co. of Chicago has broken ground for an industrial-distribution park in south suburban Lansing that will include a 460,000-square-foot warehouse-distribution center for Highland Superstores. Highland will employ up to 200 persons there. When completed, the 65-acre industrial park at 175th Street and Torrence Avenue will contain 2 million square feet of buildings, according to First National, which is nearing completion of the 573,173-square-foot Landings shopping center immediately to the west. Land planner and architectural coordinator for the industrial project is Lawrence Design Collaborative, Chicago.
Clockmaker buys plant
Elgin Industries has purchased a 126,000-square-foot industrial building at 3350 N. Kedzie Ave., Chicago, for use as a manufacturing and distribution center for its Welby Clock division. The seller was Colonial Hospital Supply, according to Goode and Associates, a Des Plaines real estate brokerage that represented Colonial in the transaction. John Buck Co., Chicago, represented the purchaser. The property`s asking price was $2.4 million. The actual selling price was not disclosed.
Marriott moves to Rosemont
Marriott Corp. has moved its Midwest regional headquarters and approximately 75 employees to 17,500 square feet of offices at 6250 River Rd. in northwest suburban Rosemont from Chicago`s Northwest Side. The move consolidates Marriott`s food service management group, which serves business, educational and health care clients, and the hotel merchandising, national sales, procurement and regional hotel operations of Marriott Hotels and Resorts.
Topping to lease Clybourn loft
Dean Topping & Co. has been named exclusive leasing agent for 1960 N. Clybourn Ave., a 15,000-square-foot office and retail building in an area known as Clybourn Row on Chicago`s North Side. The industrial loft property has been rehabbed for offices on the second floor, with the first floor and lower level converted to retail use.
Sheridan on industrial binge
Robert Sheridan & Partners, a real estate investment firm based in New York and Chicago, has announced that it will seek to acquire $100 million worth of industrial property across the United States in 1987. Primarily a converter of luxury apartments to condominiums, Sheridan is entering the industrial property market in order to diversify its portfolio, according to managing partner Robert Sheridan. The company is looking at buildings in Hartford and Dallas, as well as Chicago and New York.
New offices in Wood Dale
Construction has begun on the Thorndale Business Center, 925 Dillon St., in west suburban Wood Dale. The project of Anderson-Allabastro & Associates, an Elk Grove Village architecture and development firm, will contain six 2,400-square-foot units when completed. Indust-Realty Inc. has been named exclusive leasing agent for the property, where first occupancies are expected this spring.
ITW/Nexus takes space
ITW/Nexus has signed a long-term lease for nearly 25,000 square feet of office and warehouse space at Highpoint Business Center, a Vantage Companies development in west suburban Wood Dale. The firm will use the Highpoint location as a sales and distribution center for its fastener products. ITW/
Nexus was represented in the negotiations by Coldwell Banker Commercial Real Estate Services Schaumburg office.
Spectra builds in Wheeling
Spectra Tool has started construction on a 40,700-square-foot service center in the Palwaukee Business Center at the corner of Waltz and Chaddick Drives in northwest suburban Wheeling. Spectra Tool, a maker of precision molds for the plastics industry, will move from Elk Grove Village when its $1.5-million facility is completed in late spring. McLennan & Thebault Inc. is the designer and building contractor for the project.
Matt-Son buys in Barrington
Baird & Warner announced the sale of a 28,350-square-foot office/
warehouse building in northwest suburban Barrington to Matt-Son Inc., a manufacturer and distributor of water treatment systems. Baird & Warner represented the seller in the transaction, Jeco Industries Inc., a window frame fabricator. Red Carpet Village Realty of Carol Stream represented Matt- Son. Asking price for the nine-year-old, one-story building at 28W005 Industrial Ave. was $895,000.
Elk Grove industrial deal
A three-unit industrial building in northwest suburban Elk Grove Village has been purchased by K&K Greenleaf Partnership. The announcement was made by Paine/Wetzel Associates, which represented both K&K and seller Marie Rothbauer. The 93,500-square-foot facility located at 2400 Greenleaf St. houses a metal fabricating manufacturer and heating and air conditioning equipment supplier. A 26,500-square-foot unit is available for lease.
Nardi sells corporate HQ
Warehouse Equipment Co. of Chicago has purchased a 50,000-square-foot building at 2500 N. York Rd. in northwest suburban Elk Grove Village for use as a corporate headquarters. Nardi and Company represented the seller, Comet Manufacturing Co. Coldwell Banker Commercial Real Estate Services was the cooperating broker. Asking price was $1.3 million.
