Illinois

CHICAGO — Waterton has acquired an 81-unit apartment property in Chicago’s West Loop for an undisclosed price. Formerly known as Aberdeen Place, the property has been rebranded as The Aberdeen West Loop. Located at 20 N. Aberdeen St., the property is situated near Randolph Street’s Restaurant Row, Google’s Midwest headquarters and McDonald’s future global headquarters. The four-building property features a mix of studio, one-, two- and three-bedroom units. All units feature bamboo hardwood flooring, granite countertops and private patios.

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NORTH RIVERSIDE, ILL. — Adelphia Properties has arranged the sale of a 4,765-square-foot retail building in North Riverside, a suburb of Chicago. The sales price was not disclosed. The building is located at 8409 W. Cermak Road. Tenants include Sliccily Pizza Pub, Lacey’s Place and a law office. Simeon Spirrison of Adelphia represented the seller, a Chicago-based private investor. A Chicago-based investment group purchased the property.

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DOWNERS GROVE, ILL. — Essex Realty Group Inc. has brokered the sale of a 32-unit apartment property in the Chicago suburb of Downers Grove for $5.3 million. Comprised of four buildings, the complex is located at 1200-1224 71st St. All units are two-bedroom units and measure approximately 1,200 square feet. Doug Imber and Brian Kochendorfer of Essex brokered the transaction. Neither the buyer nor the seller were disclosed.

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FRANKLIN PARK, ILL. — Clarius Partners LLC has unveiled plans for a 99,000-square-foot industrial building in Franklin Park, approximately 18 miles northwest of Chicago. The 6.2-acre property is located at 9300 King Ave. A joint venture between Clarius Partners and Wanxiang America Real Estate Group LLC purchased the site earlier this month. An existing 154,800-square-foot building will be demolished in order to construct the new speculative facility, which is scheduled for completion by the end of the year. The facility will feature 32-foot clear heights, 10 exterior docks, four drive-in doors and office space. Thomas Gath, Adam Marshall and Mark Deady of Newmark Grubb Knight Frank will market and pre-lease the property.

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BOLINGBROOK, ILL. — XPO Last Mile and Vision Works have renewed and expanded their industrial leases at One Gateway Court in Bolingbrook. The space was vacated by a previous tenant, then divided and split between the two current tenants to accommodate both expansions. Keeley Construction is providing construction services for the private owner. Russell Perry Real Estate represented XPO Last Mile in the renewal and expansion of 96,350 square feet, while KW Commercial represented Vision Works in the renewal and expansion of 94,500 square feet. David Prioletti of CBRE represented the landlord in the transaction.

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CHICAGO — The Howard Hughes Corp. has received unanimous approval from the Chicago Plan Commission for the development of 110 N. Wacker Drive, a 51-story office tower downtown. The company will again collaborate with Riverside Investment & Development, Goettsch Partners and CBRE, the team behind the recently completed 150 N. Riverside Plaza office tower. The 1.3 million-square-foot tower will be located between Wacker Drive and the Chicago River. Amenities will include retail and dining options, a conference center and a fitness facility. The project includes a voluntary $19.5 million payment into the City’s Neighborhood Opportunity Bonus system due to its size. The new high-rise will take approximately two-and-a-half years to build. A construction start date has not been finalized.

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CHICAGO — American Street Capital (ASC) has arranged an $11.1 million loan for the acquisition of a 40-unit mixed-use property in Chicago’s North Center neighborhood. Built in 2009, the building consists of six ground-floor retail units and 34 residential units with a mix of two- and three-bedroom apartments. Additional amenities include in-unit washers and dryers, balconies, rooftop decks and indoor parking. Igor Zhizhin of ASC originated the seven-year loan, which includes a 30-year amortization schedule.

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MELVILLE, N.Y. — A&G Realty Partners will handle the sale of 58 MC Sports leases in seven states across the Midwest following the retailer’s Chapter 11 bankruptcy filing. The locations range in size from 11,000 to 46,000 square feet. The stores are located in Iowa, Illinois, Indiana, Michigan, Missouri, Ohio and Wisconsin. Bids are due no later than the close of business on Friday, April 7. MC Sports filed for Chapter 11 bankruptcy protection on Feb. 14 in the U.S. Bankruptcy Court, Western District of Michigan, Grand Rapids. A joint venture between Tiger Capital Group and Great American Group is currently conducting the going-out-of-business sale.

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FAIRVIEW HEIGHTS, ILL. — Acadia Strategic Opportunity Fund IV has acquired Lincoln Place in Fairview Heights near St. Louis for $35.4 million. The 272,060-square-foot shopping center is located at 5905-6109 North Illinois St. Lincoln Place is nearly fully leased to a mix of national tenants, including Kohl’s, Ross, Old Navy, Marshalls, Famous Footwear, Five Below, Pier 1 Imports, Saint Louis Bread Co. and Mattress Firm, in addition to a separately owned Lowe’s, Chili’s and Chick-fil-A. Developed in 1999, the center was renovated in 2005. Amy Sands and Clinton Mitchell of HFF represented the seller, Spirit Realty Capital. Timothy Joyce of HFF secured a $23.1 million acquisition loan for the new owners. A national bank provided the five-year loan. Acadia Strategic Opportunity Fund IV is managed by Acadia Realty Trust.

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NAPERVILLE AND GENEVA, ILL. — Essex Realty Group Inc. has brokered the sale of two apartment properties in suburban Chicago for $10.1 million. The larger asset, 7-20 Simpson St., is a 56-unit apartment complex located in Geneva. The property consists of three two-story buildings. All units measure approximately 900 square feet and are two-bedroom units. The second property, 1330 E. Chicago Ave., is a 34-unit apartment building located in Naperville. The property consists of 31 one-bedroom units and three two-bedroom units. Doug Imber, Brian Kochendorfer and Brian Karmowski of Essex brokered the transaction.

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