CHICAGO — Kiser Group has negotiated the $17.4 million sale of 5411 N. Winthrop, a multifamily property in Chicago’s Edgewater neighborhood. The asset, which was 99 percent occupied at the time of sale, underwent a full renovation in 2013. Jacob Price and Katie LeGrand of Kiser brokered the sale. Chicago-based Becovic Residential was the buyer. The property went under contract within a month of listing.
CHICAGO — Mid-America Real Estate Corp. has brokered the sale of a 17,706-square-foot retail property occupied by The Fresh Market in Chicago’s Lincoln Park neighborhood. The sales price was undisclosed. The grocery store is located at the corner of Halsted Street and Diversey Parkway. Joe Girardi and Nick Kohlmann of Mid-America represented the seller, and the asset sold to a private buyer.
PEKIN, ILL. — Ross Dress for Less, Marshalls and Five Below have joined the tenant lineup at East Court Village in Pekin, about 10 miles south of Peoria. The retailers are slated to open in fall 2025. East Court Village, owned by Cullinan Properties, is currently undergoing significant upgrades and improvements.
AURORA, ILL. — Core Industrial Realty has arranged the sale of a 356,000-square-foot industrial property located at 2200 Sullivan Road in Aurora. The speculative building was developed by Panattoni in 2022 and was 75 percent leased at the time of sale. There are two tenants with leases totaling 260,000 square feet. Total consideration for the project, inclusive of both lease transactions and the sale of the building, exceeded $70 million. Noel Liston and Nick Krejci of Core brokered the sale. The buyer, Ares Management Corp., has retained Core as the leasing agent for the property.
COLLINSVILLE, ILL. — Contegra Construction Co. has completed Eastport Commerce Center, a 75,000-square-foot office and distribution center in Collinsville, a northeast suburb of St. Louis. BHMG Engineers has leased 25,000 square feet at the property. The space replaces BHMG’s existing 5,000-square-foot office at 1902 Vandalia St. in Collinsville. The building features a clear height of 28 feet, four dock doors, three drive-in doors and 160 parking spaces.
BENSENVILLE, ILL. — Krusinski Construction Co. has completed an industrial redevelopment project for developer Dayton Street Partners in the Chicago suburb of Bensenville. Krusinski revitalized an existing building by completing selective demolition and enhancing the space with a more efficient layout. The original facility was converted into a 33,000-square-foot terminal with 37 newly installed dock doors and an attached 2,000-square-foot, two-story office. The interior refresh included new bathrooms, flooring, paint and mechanical, electrical and plumbing upgrades. Krusinski also completed upgrades to the storm systems, installed new concrete aprons and performed select paving improvements. The project team included Space Co and A+M Architects.
CHICAGO — Berkadia has negotiated the $27 million sale of 1344 North Dearborn, a 94-unit multifamily property in Chicago’s Gold Coast neighborhood. Built in 1967, the asset had been converted into individual condominiums but then de-converted back to a fully rental community. Ralph DePasquale of Berkadia represented the seller, Illinois-based Ravinia Capital Group. The buyer was Bill Silverstein, owner of Beal Properties. The building was 95 percent occupied at the time of sale.
EAST PEORIA, ILL. — Boot Barn and Best Buy have joined the tenant lineup at The Levee District, a mixed-use center and shopping destination owned by Cullinan Properties in East Peoria. Both stores are expected to open in 2025. Best Buy is moving from its current location in metro Peoria. The Levee District is home to anchor retailers Target, Costco, Slumberland Furniture, Ulta and Ross Dress for Less. The development features a 137-room Holiday Inn & Suites hotel and is home to the City of East Peoria offices and the Fondulac Public Library.
CHICAGO — JLL Capital Markets has originated a $113.7 million Freddie Mac loan for the refinancing of K2 Apartments, a 34-story apartment tower in Chicago’s Fulton Market district. The 496-unit property is located at 365 N. Halsted St. just west of the Chicago River. Constructed in 2013, K2 Apartments features a range of units from studios to three-bedroom layouts. Amenities include a pool, terrace lounge, movie theater room, 24-hour concierge service, a dog park and indoor basketball court. Danny Kaufman, Medina Spiodic and Rebecca Brielmaier of JLL arranged the seven-year, fixed-rate loan on behalf of the borrower, Georgetown Co.
CHICAGO — Northwind Group has provided a $62.5 million first mortgage, senior secured acquisition and lease-up loan collateralized by 303 East Wacker Drive, a 30-story office building in Chicago. The property totals more than 1 million square feet and includes a 282-space parking garage. Situated on the Chicago River in the East Loop submarket, the building was roughly 75 percent occupied at the time of loan closing. A joint venture between 601W Cos. and David Werner Real Estate Investments was the buyer. The financing facilitated the acquisition from the existing lender via a deed-in-lieu of foreclosure from prior ownership, Beacon Capital Partners. The building has been recently renovated and modernized with over $32 million of upgrades and tenant-focused improvements. A new amenity center on the entire 30th floor overlooks Lake Michigan. John Vavas of Polsinelli Law Firm represented Northwind.