CHICAGO — NAI Miami has arranged the sale of a former Midas Total Car Care center located at 158 W. Grand Ave. in Chicago for $4 million. Jeremy Larkin and Joseph Gallaher of NAI Miami, along with Elan Rasansky and Al Rodenbostel of ARC Real Estate Group, represented the seller, TBC Corp. The buyer, Friedman Properties Ltd., developed the adjacent Moxy Hotel. The sales price equates to roughly $470 per square foot.
GURNEE, ILL. — Cawley Chicago has brokered the sale of a 31,000-square-foot industrial building in Gurnee, a city in Northeast Illinois. The sales price was undisclosed. The property is located at 3940 Tannahill Drive. Dustin Albers, Andrew Maletich and Matt Garland of Cawley Chicago represented the buyer, Imperial Lubes, which is relocating and expanding its operations from Elk Grove Village. Marc Samuels of Cushman & Wakefield represented the undisclosed seller.
MONTGOMERY, ILL. — Coldwell Banker Commercial Real Estate Group has brokered the $3.4 million sale of the US 30 Self Storage property in Montgomery, about 45 miles west of Chicago. The self-storage facility consists of 278 enclosed units and 268 paved parking spaces for boats and RVs. The property was originally constructed in 2005 with additional units added in 2021. Richard Faltz of Coldwell Banker Commercial represented the undisclosed buyer. The seller was also not provided.
OAK BROOK, ILL. — International Contractors Inc. has signed a 17,700-square-foot office lease at 1 Mid America Plaza in the Chicago suburb of Oak Brook. The tenant is a 40-year-old construction management firm. Daniel Cawley and Brayden Schiff of Cawley Chicago represented the tenant in the lease transaction. Josh Feldman of Cushman & Wakefield represented the landlord, Crowe LLC.
CHICAGO — Luxury Spanish bridalwear brand Rosa Clará has signed a 2,200-square-foot retail lease at 670 N. Wabash Ave. in Chicago near the Magnificent Mile. The store is slated to open later this fall. Jordan Karp of Savills represented the tenant. In Spain, Rosa Clará is expanding its footprint in Valencia and Cordoba.
MAYWOOD, ILL. — Skender has completed the redevelopment of the former Central Baptist Home, which has been listed on the National Register of Historic Places since 2017. Located in Maywood, a suburb of Chicago, the property is now home to a 100-unit assisted living facility for low-income seniors. The original building was constructed in several phases between 1929 and 1965. Skender’s restoration process included refurbishing the wood trim, stucco and brick facades, installing new windows, revamping the first-floor lobby, replacing the roof, restoring the commercial kitchen and dining area, and converting 100 rooms into supportive living units. Amenities now include a beauty salon, wellness clinic, laundry room, general store and recreation area. Celadon Partners was the developer and Gleason Architects was the architect. Financing came from NDC Corporate Equity Fund, KeyBank, US Bank and the Illinois Housing Development Authority.
CHICAGO — Kiser Group has arranged the $10 million sale of the South Shore Portfolio in Chicago. The 101-unit multifamily portfolio comprises the following properties: 7419 S. Colfax Ave., 6700 S. Chappel Ave. and 2445 E. 72nd St. Noah Birk and Aaron Sklar of Kiser brokered the transaction. New York-based Strahl Capital was the buyer. The sellers were undisclosed.
CHICAGO — A partnership between Mavrek Development, GW Properties, Luxury Living Chicago Realty and Double Eagle Development has received $102.2 million in financing from MSD Partners for the construction of a mixed-use development in Chicago. Named The Saint Grand, the 21-story project will include 248 luxury apartment units, 40,000 square feet of office space and 8,000 square feet of street-level retail space. Units will feature workspaces and private outdoor areas. Amenities will include a package receiving service, coworking lounge, fitness center and outdoor pool. Office tenants will also be able to enjoy the apartment amenities. The project will replace a parking garage located at 535 N. St. Clair. Demolition is underway and construction is expected to begin before the end of the year. The office portion is slated to be ready for tenant buildouts in the third quarter of 2023, with the residential portion slated for delivery in early 2024. NORR is the project architect. Chris Knight of JLL worked on behalf of the borrower to secure the four-year loan through MSD Partners.
LOMBARD, ILL. — Edgemark Commercial Real Estate Services LLC has brokered the sale of a 217,887-square-foot retail building formerly occupied by Carson Pirie Scott in Lombard, a western suburb of Chicago. The sales price was undisclosed. The three-story property is part of the Yorktown Center Shopping Mall. Mike Wesley and Joanne Sutryk of Edgemark represented the seller, an entity doing business as GMAC 2004-C1 Yorktown Mall LLC. A joint venture between Pacific Retail Capital Partners and Synergy Construction Group LLC purchased the building with plans to redevelop it into multifamily, retail and green space. Construction on the two-phase project is slated to begin in spring 2023 with completion of Phase I anticipated for spring 2025. The project is subject to final planning review by the Village of Lombard.
EVANSTON, ILL. — Energy, engineering and resource consulting firm Grumman/Butkus Associates has signed a 26,000-square-foot office lease renewal at 820 Davis Street in Evanston. The newly renovated building rises five stories and spans 85,985 square feet. The owner, Free Market Ventures, updated the exterior façade, lobby, common areas and amenities. Adam Showalter and Jessica O’Hara of Stream Realty Partners represented the landlord in the lease. Grumman/Butkus has occupied space in the building for the past 20 years.