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Colliers Engineers Deal for St. Charles Mixed-Use Trophy
Colliers Chicago’s Peter Block, Tyler Hague and Lauren Stoliar represented First Street Development, LLC, in the sale of 1st Street Development, a trophy mixed-used development in St. Charles, IL. The project took 15 years to complete and is the epicenter of the city’s master planned downtown. Tabani Group, LLC, owners of several similar projects in the Chicagoland area, acquired the development for an undisclosed sum.
“This was a truly one-of-a-kind opportunity to acquire a stabilized investment with upside in a premier Chicago suburb,” said Block. “It’s an ideal site that supports multiple uses and an unrivaled location for investment returns and national exposure.”
The asset consists of approximately 92,000 square feet of retail and office space and a 16-unit apartment complex across five buildings. Notable tenants include Kilwin’s, Gia Mia, Alter Brewing, XSport Fitness, Coldwell Banker, Ohio Farmers Insurance and Regus, among others. It’s currently 97% leased.
- ◦Sale/Acquisition

