Illinois

CHICAGO — Waterton has received a $171.2 million loan for the refinancing of North Harbor Tower in Chicago’s Lakeshore East neighborhood. The 600-unit apartment building is located at 175 N. Harbor Drive adjacent to the six-acre Lakeshore East Park. Originally constructed in 1988, the 55-story tower comprises a mix of floor plans averaging 958 square feet. Community amenities include an indoor swimming pool, outdoor sundeck, 24-hour fitness center, party room and library. Stephen Skok, Stella Pappas and Gregory Napper of HFF arranged the seven-year, fixed-rate loan through Freddie Mac’s green advantage program. Waterton committed to reducing energy or water by at least 30 percent, with a minimum 15 percent in energy savings.

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ROCKFORD, ILL. — Hanley Investment Group Real Estate Advisors has brokered the sale of a retail building shadow-anchored by Walmart in Rockford for an undisclosed price. The three-tenant property is home to Aspen Dental, Sleep Number and Fastsigns. Built in 2008, the 9,000-square-foot building is situated on one acre at 7310 Walton St. Jeff Lefko and Bill Asher of Hanley represented the seller, Texas-based N3 Real Estate. Ronald Shunia of BOSC Realty Advisors represented the buyer, a California-based private investor. The cap rate was 7.23 percent.

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DES PLAINES, ILL. — Seefried Industrial Properties, along with a European capital partner, has purchased a 3.9-acre site in Des Plaines with plans to develop a 72,000-square-foot warehouse on a speculative basis. The project will feature a clear height of 30 feet, 15 dock doors, two drive-in doors and parking for 86 cars. Located on Wolf Road, the property will have convenient access to I-90. Construction is set to begin in October with completion slated for the second quarter of 2020.

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CHICAGO — Summit Design + Build LLC has completed the interior build-out of the new office for Golden State Foods in Chicago’s West Loop. The company, a supplier to the quick-service restaurant and retail industries, moved its regional operations from an office in Oak Brook following McDonald’s move. Golden State Foods now occupies 4,300 square feet on the fifth floor of an office building located at 322 S. Green St. The space includes a conference room, commercial test kitchen, customer experience area and guest lounge. Ware Malcomb served as the project architect and Cushman & Wakefield was the owner’s representative.

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ROCK ISLAND, ILL. — Berkadia has secured $34.2 million in construction-to-permanent rehabilitation financing for a two-property multifamily portfolio in Rock Island. The properties include Heather Ridge and Century Woods. Renovation plans call for new flooring, windows, heating and cooling systems, cabinets, countertops and appliances. Rick Price, Gemma Geldmacher, Mark Vogel and Dan Geuther of Berkadia originated the two HUD 221(d)(4) loans on behalf of Cleveland-based Millennia Cos. The financing features a 40-year term and a 90 percent loan-to-value ratio.

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CHICAGO — Play2Day, a childcare service for infants and toddlers ranging in age from 2 months to 5 years old, will open at Lincoln Common in Chicago. The 1,510-square-foot location is expected to open in the third quarter of this year. Play2Day joins the growing roster of Lincoln Common retailers, including Equinox, Velvet Taco, Philz Coffee, Athletico, Compass and Kohler Waters Spa. Developed by Hines and McCaffery, Lincoln Common features 100,000 square feet of retail space, 538 apartment units, 40 condominium units, a five-story office building, 850-stall parking garage, 156-room senior living community and more than an acre of open space.

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ITASCA, ILL. — Hamilton Partners has completed the renovation of its Hamilton Lakes Business Park in Itasca. The property is home to more than 3.5 million square feet of office space. In April, Hamilton completed renovations of 500 Park and One Pierce Place, which comprise approximately 1 million square feet. Balfour Pacific and Hamilton invested more than $7 million in both buildings. At One Pierce Place, Hamilton renovated the front entrance and lower lobby, adding a Wi-Fi lounge and conference center. At 500 Park, the renovation included an update to the entrance and lobby as well as the lower-level concourse level. Tenants now have access to a Wi-Fi lounge and a patio overlooking the walking path. Farmers Fridge and Foodsby have been added to increase food options. Hamilton also made updates to 555 Pierce, 333 Pierce and 150 Pierce, which now features a shared office space.

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CHICAGO — Skender has completed construction of Esperanza Brighton Park, a new 26,000-square-foot health center in Chicago’s Brighton Park neighborhood. Esperanza, which stands for “hope” in Spanish, is a two-story facility. It includes clinical office space, 30 exam rooms, space for additional diagnostic and treatment services, a retail pharmacy and 69 parking spaces. Skender, serving as general contractor, collaborated with architect JGMA and McNitt Consulting to complete the project.

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BEDFORD PARK, ILL. — PREMIER Design + Build Group has broken ground on a speculative warehouse project in Bedford Park on behalf of Bridge Development Partners. Bedford Park is located about 16 miles southwest of Chicago. The project will be completed in two phases. The first phase involves demolition of a large single-story building located on West 65th Street. During the second phase, PREMIER will oversee construction of a new 218,560-square-foot building. The new property will include 33 exterior truck docks, two drive-in doors and a clear height of 32 feet. The 12-acre site will accommodate parking for 180 cars and 44 trailers. Cornerstone Architects Ltd., Swift Structural Design and Spaceco make up the project team. A timeline for completion was not disclosed.

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GODFREY, ILL. — Life Care Services has completed a renovation project at The United Methodist Village, which has been renamed Asbury Village. The nonprofit continuing care retirement community, which opened in 1997, is located in Godfrey, approximately 25 miles north of St. Louis. The new amenities include communal spaces, a new library, activity areas, fireplace and coffee bar. The community also recently added a new wellness clinic. Life Care Services continues to manage the community, as it has for 17 years.

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