Illinois

CHICAGO — Interra Realty has brokered the $13.7 million sale of 3264-70 N. Clark St. in Chicago’s Lakeview neighborhood. The buyer, North Park Ventures, plans to convert the property’s 30 condominium units into apartments, as well as develop a new 22-unit apartment building on an adjacent surface lot. Located at the intersection of School and Clark streets near Wrigley Field, the existing building includes six ground-floor retail spaces comprising 7,600 square feet. The upper residential floors include a mix of one-, two- and three-bedroom units. Residents also have access to a shared dog run, courtyard, bike room and storage lockers. David Goss, Jon Morgan and Joe Smazal of Interra represented both parties in the sales transaction. The seller was not disclosed.

CHICAGO — Golub & Co. and USAA Real Estate have formed a joint venture to acquire Century Tower in the heart of Chicago’s Loop for an undisclosed price. The 292-unit luxury condominium tower is located at 182 W. Lake St. Built in 1930, the building was converted from office to multifamily units in 2001, and then condominiums in 2006. The buyer plans to renovate the residential units and convert them back to rental apartments. Upgrades will also be made to the amenity spaces, including a fitness center, co-working space, game and lounge room and roof deck. Collin McKenna of Golub led transaction negotiations on behalf of the joint venture. The seller was not disclosed.

CHICAGO — Castle Lanterra Properties (CLP) has sold Midpointe Apartments in Chicago to an unnamed fund manager for $49.5 million. CLP acquired the 424-unit multifamily property in 2014 for $28.5 million. The company invested millions in upgrades to the property that included the construction of a new leasing office, resident lounge and fitness center. Other improvements included the installation of energy-efficient roofs, LED lighting, new elevators, parking lot resurfacing and renovations to 30 percent of the units. CLP refinanced the property for $40 million in June 2017.