The curtain is going up on a new scene along the Edens Expressway in north suburban Northbrook.
The 33-acre site-which once was the home of the Edens Theaters, a bowling alley, and retail uses-is being transformed into the Village Square of Northbrook, a 335,000-square-foot shopping center.
The theaters and other buildings were razed last fall, and construction is well under way on the red-brick shops that will feature varied rooflines, covered sidewalks and landscaped parking areas.
The new shopping center is being built along the east side of Skokie Highway, south of Lake-Cook Road, and just west of the Edens Expressway.
The developer is ORIX TMK Northbrook Venture, a combined project of ORIX Real Estate Equities Inc. of Chicago and TMK Development Ltd. of Bannockburn. Gary Greenfield, vice president of Tanguay Burke Stratton, represents the developer as exclusive leasing agent.
“The first phase, consisting of 93,000 square feet, is 100 percent preleased and will open this fall,” said Jim Puriton, ORIX executive vice president.
The co-anchors in the first phase are Linens & Things (36,000 square feet) and Today’s Man (24,000 square feet).
Phase 2, consisting of 242,000 square feet, is 90 percent preleased, with the first stores expected to open just before Christmas and the rest in the spring of 1996.
Stores in Phase 2 will include the Sports Authority (42,000 square feet), Circuit City (43,000 square feet), Super Crown (20,000), the Container Store (24,000 square feet), Marshall’s (33,000 square feet), Fresh Fields (25,000 square feet), Nordstrom Rack (35,000 square feet), and the Great Frame Up (1,800 square feet).
Architect for the Village Square of Northbrook is John T. Staub Associates of Lincolnshire. Phase 1 general contractor is Crane Construction Co. of Northbrook and Phase 2 general contractor is W.E. O’Neil Construction of Chicago.
Northbrook’s planning director Tom Poupard said the village is pleased with the ORIX TMK concept.
“This is a highly visible site running for almost a half-mile stretch,” he said. “The architecture and landscaping are consistent with the image of excellence the village wants to maintain.”
Edens Theater I was called the “world’s largest hyperbolic paraboloid structure” when it was built in 1963. The more architecturally subdued Edens II was constructed nearby in 1969.
First Oak Brook high-rise sold
Oak Brook Executive Plaza, a 370,000-square-foot office complex in Oak Brook, has been purchased by RREEF Funds of Chicago. The seller was Toronto-based Manufacturers Life Insurance Co.
CB Commercial Real Estate Group arranged the sale of the complex, which is located on 12.5 acres and includes two 11-story buildings with a connecting walkway and adjacent four-story building. It is at the southwest corner of 22nd Street and Spring Road.
Oak Brook Executive Plaza was Oak Brook’s first office high-rise in 1966. It was developed by a private venture that included Paul Butler, Del Webb and Howard Hughes. Expanded in 1968 and again in 1980, it currently is 97 percent leased with a tenant roster that numbers 117.
New publishing headquarters
Paddock Publications, which publishes the Daily Herald, has purchased the 147,373-square-foot office building at 155 E. Algonquin Rd., Arlington Heights, for its new headquarters.
Baird & Warner Commercial arranged the sale of the five-story building, which was listed at $3.5 million. Grubb & Elllis represented the seller, Massachusetts Mutual Life Insurance Co.
Paddock will move into the structure this fall, as it consolidates four existing offices, two in Arlington Heights and two in Rolling Meadows.
The new headquarters is near the Northwest Tollway and offers such exterior features as terraces and covered parking.
Paddock will continue to have separate offices in Du Page County (Lisle), Lake County (Vernon Hills), the Fox Valley (Elgin), and a printing plant in Arlington Heights.
Build-to-suit in Wheeling
VTECH, a manufacturer and distributor of children’s electronic educational products, has acquired 8.16 acres for the construction of a 125,000-square-foot build-to-suit at Corporate Square II in Wheeling, according to Stein & Co.
Northern Builders of Schiller Park will handle construction, with completion scheduled for September. The site is at the southwest corner of Palatine and Wolf Roads. VTECH is relocating from two other Wheeling locations.
New Bedford Park facility
Construction is under way on the 30,000-square-foot office and warehouse facility for Riverside Distributers at 6709 W. 73rd St., Bedford Park. The general contractor is Waner Enterprises Inc. of Chicago Ridge. Occupancy is scheduled for June 1. The architect was David Dearlove & Associates of Lombard.
Other sales and leases
– The 317,000-square-foot industrial building at 5151 S. 73rd St., Bedford Park, has been sold to a Chicago area manufacturer, according to Edward E. Kellman & Co. On 20 acres of land, the building, with 22 loading docks, 28-foot ceilings and a railroad siding, formerly was owned by a division of Reckitt & Colman, whose products include French’s Mustard, Durkee Foods, Lysol, Air Wick, and Woolite.
– Naperville Financial Center has been purchased by a local private investment group from the Prudential Insurance Co. of America, according to Colliers Bennett & Kahnweiler Inc.
The five-story, 63,753-square-foot building at the southeast corner of Diehl Road and Washington Street was built in 1986. It includes terraces on the top two levels, shared conference room, and covered parking for 179 vehicles. Naperville Financial Center is 87 percent leased and anchored by Northern Trust Bank.
– Baxter Healthcare Corp. has sold a 62,000-square-foot research and development/light manufacturing faclity at 6600 W. Touhy Ave., Niles, to Preston Industries, a Niles-based publisher of trade publications and laboratory refrigeration equipment.
The single-story property, built in 1965, includes 14,500 square feet of office space. It served as the headquarters of the V. Mueller surgical instruments division, which is being consolidated into other Baxter operations.
CB Commercial Real Estate Group and Trammell Crow Co. represented Baxter in the sale, while Preston Industries was represented by the Rose Group. The asking price was $2.5 million.
– Staley General Transportation Co. has leasesd 90,000 square feet of industrial space at 201 E. 171st St., Harvey, according to Cushman & Wakefield. Staley General is using the expanded space for a warehouse and distribution of its lines of confectionery food products.
The transaction was valued in excess of $1 million. The 116,788-square-foot industrial property is owned and managed by Oakbrook Terrace-based Richmond Asset Management.
– West Star Packaging, a cardboard distribution firm, has leased and taken occupancy of a 66,490-square-foot industrial building at 1135 Baker in Itasca, according to Colliers, Bennett & Kahnweiler Inc. Some 20 persons are expected to be employed at the new site. West Star Packaging relocated from 901 Hilltop in Itasca.
Formerly occupied by Canon USA, the facility features 22-foot ceilings, six docks, 4,240 square feet of office space, and a 42-car parking lot. The building became available following Canon’s relocation to a build-to-suit in Hanover Park.
