EUREKA, ILL. — Marcus & Millichap has brokered the sale of Enchanted Gardens Mobile Home Park, a 152-lot manufactured home community in Eureka, about 20 miles east of Peoria. The sales price was undisclosed. The community, situated at 508 Reagan Drive, features convenient access to Route 24 and I-74. Andrean Angelov, Ryan Engle and Brad Kreppel of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also secured and represented the buyer, a private investor.
ILLINOIS — In order to maximize COVID-19 containment, on Friday, March 20, Illinois Governor J.B. Pritzker issued a statewide “shelter in place” directive in effect until Tuesday, April 7. Under this order, only “essential” businesses and employees are allowed to leave their homes. First responders, emergency management personnel, law enforcement personnel, healthcare workers and others working to support essential businesses and essential government functions like grocery stores and pharmacies are exempt from the order. In addition, local government units across the state are ordered to halt all evictions and ban gatherings of more than 10 people. On Sunday, the Illinois Department of Public Health announced 296 new cases of coronavirus disease in the state and three deaths. The total number of cases in Illinois has risen to 1,049 cases within 30 counties.
CHICAGO — First Western Properties has brokered the sale of an 11-unit multifamily building located at 1712-1716 W. 87th St. in Chicago’s Beverly neighborhood. The sales price was undisclosed. The property includes 10 paved parking spaces. Paul Tsakiris and Melsi Bifsha of First Western brokered the transaction. Buyer and seller information was not disclosed.
CHICAGO —Much Shelist is among the first law firms to donate to the Chicago Small Business Resiliency Loan Fund, a new initiative by the city of Chicago to support local businesses devastated by the COVID-19 crisis. Much, a full-service law firm, has donated $25,000. Mayor Lori Lightfoot announced the fund Thursday, March 19. It will provide targeted, low-interest loans to highly impacted small businesses. Much has called Chicago home for 50 years.
CHICAGO — Feeding America, a hunger-relief charity, will relocate its headquarters to 161 North Clark in Chicago. The 61,324-square-foot lease represents a 32 percent expansion for the nonprofit, which will move from 35 E. Wacker when the new lease commences in the fourth quarter. Mindy Saffer of Cresa and Rob Schmidt of JLL represented Feeding America in the lease transaction. Newmark Knight Frank represented the landlord. The 50-story office tower is situated in Chicago’s Central Loop and features a conference center and outdoor terrace.
ROMEOVILLE, ILL. — The Boulder Group has brokered the $18.6 million sale of a single-tenant property net leased to Jewel-Osco in Romeoville, located about 30 miles southwest of Chicago. The 67,507-square-foot building sits on 7.5 acres at 20 S. Weber Road. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Southwest-based private real estate investment company. A West Coast-based private investor purchased the asset in a 1031 tax-deferred exchange. Jewel-Osco has operated at the property since 2002 and recently executed a 20-year lease.
CHICAGO — The Park Hyatt Chicago and Peninsula, both luxury hotels in downtown Chicago, have temporarily closed their doors due to the coronavirus outbreak. The 198-room Park Hyatt will not accept room, restaurant, bar or other reservations until April 30. No reservations will be available until further notice at the 339-room Peninsula, according to the hotel’s website. These properties are the first two downtown Chicago hotels to close because of the coronavirus and other closures will likely follow, according to Crain’s Chicago Business.
CHICAGO — SVN Chicago Commercial has brokered the $2 million sale of a 44,500-square-foot industrial property located at 4417 S. Springfield Ave. in Chicago’s Archer Heights neighborhood. Beverly Hayes and John McDermott of SVN represented the undisclosed seller. A Chicago-based company purchased the asset due to its location and loading capacity, according to Hayes.
BARRINGTON, ILL. — Avalon Equities has purchased Barrington Station, a 5,780-square-foot retail building in Barrington, a northwest suburb of Chicago. The purchase price was undisclosed. Tenants at the property include Starbucks, Verizon, Briddick Tile & Stone and Skinovatio Medical Spa. CBRE represented the seller, GK Development.
CHICAGO — Sheba Medical Center will anchor a global health and wellness innovation hub in Phase I of a 100-acre mixed-use project to be developed on the former Michael Reese Hospital site in Chicago’s Bronzeville neighborhood. GRIT, a joint venture comprised of Farpoint Development, Bronzeville Community Development Partnership, Chicago Neighborhood Initiatives, Draper and Kramer, Loop Capital and McLaurin Development, is developing the project in partnership with Kaleidoscope Health Ventures. Known as the ARC Innovation Center, the building will include wet labs, incubators and other life sciences offices and commercial facilities. The entire project will include multifamily, affordable housing, retail, senior living, community space and a proposed new Metra station. Construction on Phase I is expected to begin in 2021.