BLUE ISLAND, ILL. — Clark Construction Group, in collaboration with the U.S. Army Corps of Engineers, has completed the transformation of the MetroSouth Medical Center, a shuttered hospital just south of Chicago, into an alternate care facility to treat COVID-19 patients. Located in Blue Island, the facility now features 585 beds, including 265 high-acuity beds for critically ill patients. Clark completed the project in 22 days. The project team also included architect Perkins and Will, engineer Salas O’Brien, Hill Mechanical, Titan Electric, RG Construction and Consolidated Flooring. The MetroSouth Medical Center closed in late 2019.
MILAN, ILL. — Berkadia has negotiated the $8.7 million sale of Village Woods in Milan near the Quad Cities. The 96-unit, garden-style multifamily property was built in 1998. Amenities include a pool, fitness center and new leasing center. Ralph DePasquale, Parker Stewart and Alex Blagojevich of Berkadia represented the seller, Minnesota-based Dominium Inc. Pete Benedetto of Berkadia secured acquisition financing on behalf of the buyer, Colorado-based Monarch Investment and Management Group.
CHICAGO — Hines has completed the development of Wolf Point East, a 698-unit luxury apartment tower in Chicago. Units located on floors 41 through 55 are known as the Lake Collection. Monthly rents for these units range from $2,695 to $5,605, and residents will begin moving into the tower in mid-May. Units located on floors 56 through 58 comprise the Penthouse Collection. There are six units per floor that average 1,700 square feet. Residents will begin moving into the penthouses in July. For units located below floor 41, monthly rents range from $2,095 to $3,995. First move-ins for these units began in January. Wolf Point East’s amenity space spans three floors. Amenities include a full-floor fitness center as well as The Sports Club, which features social games, a golf lounge and swing simulator, an indoor pool and sundeck. Additional common areas can be found on the 40th floor, including a coworking space, an outdoor dog run, dining and entertaining spaces and a gathering space known as Mirror Lounge. Soucie Horner Ltd. served as the designer for the amenity interiors and model units. Pelli Clarke Pelli Architects, in partnership with Pappageorge Haymes Partners, designed Wolf Point East, which is located at …
ELMHURST, ILL. — Bellwether Enterprise Real Estate Capital LLC has provided a $28.8 million Freddie Mac loan for the acquisition, rehabilitation and preservation of Elmhurst Terrace, a 315-unit affordable housing property in Elmhurst. Phil Melton of Bellwether Enterprise’s Dallas office originated the 10-year, fixed-rate loan. Developer Cohen-Esrey was the borrower. In addition, Bellwether’s parent company, Enterprise Community Investment Inc., along with BMO Harris Bank and Cohen-Esrey, have invested $17 million for the rehabilitation and preservation. Located about 20 miles south of downtown Chicago, Elmhurst Terrace was originally constructed in 1947. Monthly rents range from $975 to $1,400. Unit renovations will include new kitchen appliances and finishes, flooring and light fixtures. Plans also call for exterior improvements as well as the addition of a pet park and barbecue stations. The renovations are scheduled for completion in the next one to two years.
CHICAGO — Skender has completed interior construction of the 90,000-square-foot headquarters for Mondelez International in Chicago’s Fulton Market district. Mondelez, a global snacking company, is the anchor tenant at the new five-story building, which is located at 905 W. Fulton St. The office space features a café, two connecting stairwells, outdoor roof gardens, open workstations, private offices and conference rooms. Skender collaborated with design firms HPA and SCB as well as engineering consultant IMEG Corp.
CHICAGO — Cawley Chicago has arranged the sale of a 30,000-square-foot, rail-served warehouse in Chicago for $4 million. The facility is located on 10.5 acres at 3710 S. California Ave. Matt Garland, Frank Melchert and Stevan Arandjelovic of Cawley represented the seller, Romar Transportation. A private investor purchased the asset.
CHICAGO — A partnership between North Park Ventures and MF Development has purchased a nearly 20,000-square-foot land site in Chicago’s Fulton Market district for $19 million. The partnership plans to redevelop the site into a hotel and retail project. The sale included three existing properties: a two-story restaurant building at 204 N. Halsted St., a three-story restaurant building at 804-808 W. Lake St., and a two-story retail building and adjacent parking lot at 810-816 W. Lake St. Marty Casey and Matt Scales of @properties Commercial arranged the sale and worked with three different sellers to assemble the site.
PALATINE, ILL. — Conor Commercial Real Estate will develop a 162,000-square-foot industrial facility on behalf of a major e-commerce retailer in Palatine, a northwest suburb of Chicago. Amazon is the tenant, according to Crain’s Chicago Business. The build-to-suit distribution center will serve as a last-mile logistics facility. The project, initially planned as a speculative facility known as Northwest Commerce Center, has been adjusted to fit the tenant’s needs. It will feature 146,750 square feet of distribution and warehouse space and 15,250 square feet of office space. Other features include a clear height of 36 feet, 20 truck docks, 14 loading doors and a conveyor system. Completion is slated for October. McShane Construction Co. is the general contractor and Ware Malcomb is the architect.
ILLINOIS AND WISCONSIN — HSA PrimeCare, the national healthcare real estate division of HSA Commercial Real Estate, has sold a four-building medical office portfolio to Irvine, Calif.-based IRA Capital. The buildings, spanning a total of 107,828 square feet, are located in Illinois and Wisconsin. HSA PrimeCare will continue to manage the assets on behalf of IRA. Mike Wilson and Erik Foster of Avison Young represented HSA PrimeCare in the transaction. The properties include: Advocate Good Samaritan South in Downers Grove, Ill.; Hawthorn Surgery Center in Vernon Hills, Ill.; Advocate Aurora Health Beverly Clinic in Chicago; and Advocate Aurora Health Muskego Clinic in Muskego, Wis. IRA Capital is a private equity firm that invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, family offices and individuals. IRA primarily invests in commercial real estate assets throughout the United States, with an overweight concentration within the medical/healthcare sector.
ILLINOIS — Illinois Gov. J.B. Pritzker has extended the state’s stay-at-home order through the end of May in effort to fight the spread of the coronavirus. There are also new modifications to the executive order. For example, state parks will begin a phased reopening under guidance from the Department of Natural Resources. Golf will be permitted under strict safety guidelines. Greenhouses, garden centers and nurseries may reopen as essential businesses. Non-essential retail may reopen to fulfill telephone and online orders through pickup or delivery. Beginning May 1, individuals will be required to wear a face covering or a mask when in a public place where they can’t maintain a six-foot distance. The new requirement applies to all citizens over the age of 2. Essential businesses and manufacturers will be required to provide face coverings to employees and follow occupancy limits. Educational institutions may now allow and establish procedures for pickup of necessary supplies or student belongings. Dormitory move-outs must follow public health guidelines. The Illinois Department of Public Health (IDPH) will also be issuing guidance to surgery centers and hospitals to allow for certain elective surgeries for non-life-threatening conditions beginning May 1. As of Thursday, April 23, there were 36,934 …