Chicago

Evergreen Real Estate Group commenced construction on the $81-million project at 4515 N. Winchester Ave. in Chicago's Ravenswood neighborhood last week.

The initiative is part of a $100-million strategy announced last Friday by Fifth Third Bank to invest in Qualified Opportunity Zones across the nation

The planned complex will total 221,000 square feet and once completed will be the largest building on the campus.

Completed in 2017 as a spec development, the class-A industrial facility located in DuPage County will include more than 330,000 square feet of warehouse space, in addition to 40,000 square feet of temperature-controlled space and 8,500 square feet for corporate offices.

Locally-based John Buck is reportedly in contract to sell the former CNA Center to a partnership of SHVO, Deutsche Finance and BLG Capital.

Last year's activity marked a 2.5% increase from 2018 and was in fact the strongest leasing volume for the decade, according to Cushman & Wakefield.

Cushman & Wakefield reports US Foods has signed a lease renewal for 275,000 square feet at 9399 W. Higgins Road, part of the Riverway office campus. The lease renewal includes an option for further expansion at Riverway.

Eliadis most recently served at Walgreen Co. for nine years in the real estate and finance divisions. His appointment follows the October 2019 hiring of CEO Joe Brady, who previously had served as divisional VP for real estate at Walgreen Co.