REBusinessOnline

Peppercorn Capital Unveils Renovation Plans for 80,000 SF Office Building in Chicago’s Fulton Market

CHICAGO — Peppercorn Capital has unveiled renovation plans for 240 N. Ashland Ave. in Chicago’s Fulton Market. Plans call for lighted metal canopies and uniform signage. The west side of the office building will feature a new tenant entrance and lighting, along with a repaved parking lot and green space. Originally built in 1926, the adaptive reuse property formerly served as the headquarters for furnishings and décor company CB2. The building rises three stories and spans 80,000 square …

Development, Illinois, Midwest, Office

Affordable Housing Investment Brokerage Arranges $8.1M Sale of Levy House in Chicago

CHICAGO — Affordable Housing Investment Brokerage (AHIB) has arranged the sale of Levy House in Chicago’s East Rogers Park neighborhood for $8.1 million. AHIB partnered on the listing with Kiser Group. Kyle Shoemaker of AHIB represented the buyer, Preservation of Affordable Housing (POAH), as well as the seller, a nonprofit entity. Levy House is a 57-unit, seven-story apartment building that offers one-bedroom floor plans. POAH plans to preserve the property’s affordability status. POAH …

Acquisitions, Affordable Housing, Illinois, Midwest, Multifamily

Interra Realty Brokers $5.5M Sale of Two-Building Apartment Portfolio in Chicago’s South Shore

CHICAGO — Interra Realty has brokered the $5.5 million sale of a two-building apartment portfolio in Chicago’s South Shore neighborhood. The properties include the 30-unit 7646 S. Essex Ave. and the 33-unit 7800 S. Phillips Ave. The price per unit was $86,667. Both buildings were constructed in 1926 and offer a mix of one-, two- and three-bedroom floor plans. The properties were renovated to include in-unit HVAC, onsite laundry, key fob entry and security systems. They were 88 percent …

Acquisitions, Illinois, Midwest, Multifamily

Venture One Acquires 17,900 SF Industrial Building in Waukegan, Illinois

WAUKEGAN, ILL. — Venture One Real Estate has acquired a 17,900-square-foot industrial building located at 1161 S. Northpoint Blvd. in Waukegan for an undisclosed price. Constructed in 2000, the property was vacant at the time of acquisition. It features two exterior docks, one drive-in door, 2,476 square feet of office space and parking for 31 cars. Ralph Huszagh of JC Forney Realty Inc. represented the undisclosed seller and will be retained by Venture One to market the building for lease. …

Acquisitions, Illinois, Industrial, Midwest

Cannabis Facility Construction Completes 3,000 SF Dispensary in Suburban Chicago

CALUMET CITY, ILL. — Cannabis Facility Construction has completed the buildout of a recreational and medical dispensary occupied by Mission Dispensaries in Calumet City, about 23 miles south of Chicago. The 3,000-square-foot property is located at 1330 Torrence Ave. across from River Oaks Center. It includes back office space, an oversized vault and an advanced security system. 4Front Ventures Corp. was the

Development, Illinois, Midwest, Retail

Lendlease, Magellan Top Off Pair of Residential Towers Along Lake Michigan in Chicago

CHICAGO — Lendlease and Magellan Development Group have topped off Cirrus and Cascade, a pair of residential towers along Lake Michigan in Chicago’s Lakeshore East. Cirrus is a 47-story, 350-unit condominium tower at 211 N. Harbor Drive, while Cascade is a 37-story, 503-unit apartment tower at 455 E. Waterside Drive.Together, the two luxury properties represent one of the final phases of the Lakeshore East master plan. Cascade Park, a public green space connecting the two towers to the …

Development, Illinois, Midwest, Multifamily

Essex Brokers $21.6M Sale of Apartment Property in Suburban Chicago

HANOVER PARK, ILL. — Essex Realty Group Inc. has brokered the $21.6 million sale of Pebblewood Court Apartments in Hanover Park, a northwest suburb of Chicago. The 220-unit property is comprised of 11 buildings. Each building features 20 units along with storage lockers and a laundry room. Doug Imber, Kate Varde, Jaimie Steinher and Dan Shepherd of Essex represented the seller, a regional investment group. Brian Kochendorfer and Brian Karmowski of Essex represented the buyer, a local …

Acquisitions, Illinois, Midwest, Multifamily

Interra Realty Arranges Sales of Two Chicago-Area Multifamily Buildings for $14.1M

CHICAGO — Interra Realty has arranged the sales of two Chicago-area multifamily buildings for a total of $14.1 million. Craig Martin and Brian DiBasilio of Interra represented the buyers and sellers in both transactions. The duo arranged the $9 million sale of Vine Place Apartments in Park Ridge. The newly constructed property, located at 400 Talcott Road, features 22 units and one commercial space that is leased to STEM Studio, a daycare and preschool. Vine Place LLC sold the asset to DAG …

Acquisitions, Illinois, Midwest, Multifamily

Marcus & Millichap Brokers $9M Sale of Distribution Center in Spring Valley, Illinois

SPRING VALLEY, ILL. — Marcus & Millichap has brokered the $9 million sale of the Marmon Keystone Distribution Center in Spring Valley, about 55 miles north of Peoria. The 184,320-square-foot property was constructed as a build-to-suit for Marmon Keystone in 2010. The single-tenant, net-leased facility sits on 22 acres. Sean O’Brien of Marcus & Millichap marketed the property on behalf of the seller, a developer. The buyer was

Acquisitions, Illinois, Industrial, Midwest

Aries Capital Arranges $3.4M Loan for Acquisition of Restaurant Building Occupied by Hampton Social in Chicago

CHICAGO — Aries Capital has arranged a $3.4 million loan for the acquisition of an 8,700-square-foot restaurant building located at 164 E. Grand Ave. in Chicago’s Streeterville neighborhood. The Hampton Social fully occupies the property. Neil Freeman and Brandon Perdeck of Aries arranged the five-year, fixed-rate loan on behalf of the borrower, Rüger Holding, which is a Germany-based real estate owner and developer. A local bank provided the loan, which features an interest rate under 4 …

Illinois, Loans, Midwest, Restaurant, Retail
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