SPRINGFIELD, ILL. AND DES MOINES, IOWA — Maverick Commercial Mortgage Inc. has arranged a $12.7 million first-mortgage loan on behalf of MHPI Inc. for a portfolio of four manufactured housing communities located in Springfield, Ill. and Des Moines. The portfolio includes a combined 303 pad sites. The three Springfield communities were built within the last 15 years. The community in Des Moines features a clubhouse, swimming pool, community room and small self-storage facility. Benjamin Kadish of Maverick arranged the seven-year, fixed-rate loan with an undisclosed national lender. Proceeds paid off the existing lender and paid for closing costs. Arnold Weinberg of Much Shelist represented MHPI.
CHICAGO — OC Ventures has acquired Automatic Lofts, a 482-bed student housing community located adjacent to the University of Illinois at Chicago campus. The property — originally built as a telephone factory in 1901 — offers one-, three- and four-bedroom, loft-style units. Shared amenities include a fitness center, study lounges on each floor, a café, recreation room and laundry services. The new ownership plans to implement capital improvements such as building out a larger fitness center, renovating lobby and study areas and updating apartment furniture. Varsity Campus will manage the community. The seller and terms of the transaction were undisclosed.
CHICAGO — Egg Harbor Café has opened at Optima Signature, a 47-story, 490-unit luxury apartment tower in Chicago’s Streeterville neighborhood. The Streeterville location is the first downtown Chicago restaurant for Egg Harbor Café, which specializes in breakfast, brunch and lunch and maintains 20 locations in Illinois, Wisconsin and Georgia. Optima Inc. is the developer behind Optima Signature, which features 60,000 square feet of retail and office space. Egg Harbor occupies 4,905 square feet. There is one 490-square-foot retail space remaining at the apartment property, which opened in 2017. Other retailers include GoodVets, Guidepost Montessori, Runaway Fitness and Bedazzled Nails & Spa.
EVANSTON, ILL. — Chicago-based developers CA Ventures and Focus have opened a nine-story, 241-unit apartment development at 811 Emerson St. in Evanston, Illinois, near Northwestern University. Known as LINK Evanston, the property includes studio, one-, two- and three-bedroom floor plans varying from 400 to 1,100 square feet. Amenities include a 9,000-square-foot courtyard with a pool, grilling stations and a fire pit. Indoor amenities include a social lounge/game room, business center with conference rooms, and fitness and wellness center. On-site parking, located on the lower, ground and mezzanine levels, accommodates a total of 174 vehicles, with designated public and private spaces. 7-Eleven, a previous occupant of the site, has moved into a 3,300-square-foot, ground-floor retail space along Emerson Street. The architect was bKL Architecture. Focus served as the general contractor and co-developer for the project.
CHICAGO – Huron has renewed its 134,000-square-foot headquarters lease in Union Tower located at 550 W. Van Buren St. in Chicago. Colliers International’s David Burden and Michael Marrion represented Huron in the lease negotiations, and Cushman & Wakefield represented the building landlord, Onni Group. Huron is a global management consulting company offering services to the healthcare, higher education, life sciences and commercial industries. Onni Group owns the 17-story, 332,000-square-foot office building and has aided Huron in its tenant improvements as well as agreeing to additional upgrades to common areas of the building. The building is currently undergoing renovations to its fitness center and tenant lounge, with expected completion by the end of the year.
CHICAGO —Interra Realty has brokered the sale of 5827 N. Ridge Ave., a four-story, 18-unit apartment building in Chicago’s Edgewater neighborhood, for $3.7 million. Built in 1926, the property was gut-renovated in the past year, and the apartments were fully occupied at the time of sale. It is located near public transportation and is approximately 10 miles from downtown Chicago. Patrick Kennelly and Paul Waterloo of Interra represented both the seller, Campbell Street Asset Management Inc., and the buyer, a local private investor, in the transaction. At $205,555 per unit, the sale represents the second-highest per-unit price in Edgewater so far in 2019, according to data from CoStar Group.
CHICAGO — Developer Fifield Cos. has topped off 740 N. Aberdeen in Chicago’s River West neighborhood. The 11-story building will include 188 apartment units and 2,400 square feet of ground-floor retail space. Completion is slated for fall 2020. The project team includes Fitzgerald Associates Architects and McHugh Construction. Morgante Wilson Architects designed the apartment and amenity interiors. Units at the property will range from 540 to 1,513 square feet. Amenities will include a fitness club, resident lounge, party room, coffee bar, coworking space and bike storage. A sun terrace on the third floor will feature a pool, dining areas and grilling stations. In addition, Hitchcock Design Group is developing a public park adjacent to the building that will include a dog park and dedicated access for residents.
HOFFMAN ESTATES, ILL. — Harbert Management Corp. has acquired Poplar-Prairie Stone Crossing, a 316,575-square-foot shopping center in Hoffman Estates. The purchase price was not disclosed. Tenants include TJ Maxx, Ross Dress for Less, Cost Plus World Market, PetSmart, Old Navy and Ulta. Target shadow anchors the property. CBRE represented the seller, Walton Street Capital.
ITASCA, ILL. — Keyence Corp. has signed an industrial lease for 80,849 square feet at Building II in Bridge Point Itasca, a three-building industrial campus currently under development in Itasca. Keyence, a manufacturer of automation sensors, barcode readers, measuring instruments and digital microscopes, is the first tenant to sign a lease at the 741,621-square-foot project. Bridge Development Partners is the landlord. Keyence is slated to take occupancy in the third quarter of 2020. Building II, spanning 247,176 square feet, will feature a clear height of 32 feet, 34 exterior docks, two drive-in doors and parking for 234 cars. Chris Nelson and Jeffrey Janda of Lee & Associates represented Bridge in the lease transaction. David Haigh of NAI Hiffman and Mike Nicholson of Acclaim Group represented Keyence.
DOWNERS GROVE, ILL. — Crown Castle has leased 48,000 square feet of office space at Highland Landmark II in Downers Grove. The provider of communications infrastructure is consolidating all five of its Chicago-area locations into the new space. Highland Landmark II, located at 3025 Highland Parkway, is a 284,000-square-foot building within a 42-acre office park. Amenities include a deli, conference center and fitness center. David Burden, Tom Berarducci and Jay Kyle of Colliers International represented Crown Castle in the lease transaction. Jeff Shay and Karla Harmon of JLL represented the building owner, James Campbell Co.