CARY, ILL. — Midwest Industrial Funds has sold a 76,000-square-foot industrial building in Cary, about 45 miles northwest of Chicago. An affiliate of Illinois Lift Equipment purchased the property. Midwest Industrial acquired the vacant property in 2015, and repositioned and modernized it by demolishing over 60,000 square feet of office and warehouse mezzanine space. The firm also designed and built a new custom exterior entrance, painted the entire exterior, improved drainage as well as installed new larger dock doors, energy-efficient windows, HVAC, lighting and landscaping enhancements. Dan Jones, Dan Benassi and Mike DeSerto of Entre Commercial Realty represented Midwest Industrial in the transaction, while Steve Morken of Morken & Associates represented Illinois Lift Equipment.
CHICAGO — CIM Group has acquired two newly constructed buildings in Chicago’s Wicker Park for an undisclosed price. Built in 2016, 1643 N. Milwaukee Ave. is a mixed-use property comprising, residential, office and retail space. 1237 N. Milwaukee Ave., a mixed-use property consisting of residential and retail space, just received a certificate of occupancy. Together, the buildings include 96 apartment units, 23,000 square feet of street-level retail space and 17,400 square feet of office space.
CHICAGO — Essex Realty Group Inc. has arranged the sale of a 26-unit condominium building in Chicago’s Lincoln Park for $7.8 million. The property, located at 512 W. Belden Ave., includes a mix of one- and two-bedroom units. Steven Livaditis and Joe Scheck of Essex marketed the property for sale on behalf of the seller, 512 Belden Association. The team also represented the buyer, a local real estate investor.
CHICAGO — Marcus & Millichap has brokered the sale of Canal Street Self Storage in Chicago for an undisclosed amount. The 66,063-square-foot, 792-unit self-storage facility is located at 1601 S. Canal St. Canal Street Self Storage offers elevator access, 24-hour hour lockers, large truck and trailer access and two levels of docks for loading and unloading. The facility has a wide range of storage options such as eco-friendly storage containers, business documentation storage, climate-controlled units, uncovered boat/recreational vehicle parking spaces and wine storage. Sean Delaney and Michael Mele of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company based in the West.
SWANSEA, ILL. — BARBERMurphy Group has arranged the sale of a 108-unit apartment property in Swansea, about 15 miles east of St. Louis. The sales price was not disclosed. The building, located at Cantwell Lane and Old Collinsville Road, consists of 113,400 square feet. BARBERMurphy represented the seller, Dan L. Sheils LLC. Swansea Applegate Apartments LLC purchased the property.
CHICAGO — Essex Realty Group Inc. has brokered the sale of a 44-unit multifamily building in Chicago’s Sheridan Park neighborhood for $6.1 million. The property, located at 4706 N. Beacon St., consists of studio, one- and two-bedroom apartments. The building was fully renovated in 2007, including all major building systems. Doug Fisher of Essex represented the undisclosed seller. Doug Imber and Kate Varde of Essex represented the undisclosed buyer.
PARK RIDGE, ILL. — Draper and Kramer Inc. has acquired a three-acre commercial development site in Park Ridge, a suburb of Chicago. The parcel is located at the corner of Greenwood Avenue and Busse Highway. The firm was self-represented in the transaction. Paul Buckingham and Terry Alexa of Newmark Grubb Knight Frank represented the seller, the American Society of Anesthesiologists. Following the acquisition, Draper and Kramer sold a portion of the site to a developer for a luxury seniors housing development. Jason Gustavson of Stone Real Estate is marketing the remaining parcel on behalf of Draper and Kramer.
CHICAGO — LM Commercial has brokered the sale of a 67,305-square-foot industrial building in Chicago’s Montclare neighborhood. The property is located at 2701 N. Normandy Ave. The listing price was $1.5 million, but the final sales price was not disclosed. Martha Winter, Mike Merry and Brian Wabick of LM Commercial brokered the transaction.
ELK GROVE VILLAGE, ILL. — The Opus Group has completed a new corporate headquarters for MC Machinery Systems Inc. in Elk Grove Village, a northwest suburb of Chicago. The 175,000-square-foot property consists of two buildings located off I-90. The new headquarters features 50,000 square feet of office space, 75,000 square feet of warehouse and storage space and a 50,000-square-foot industrial machinery showroom to showcase the company’s equipment and host customer walkthroughs. MC Machinery Systems, a subsidiary of Mitsubishi Corp., develops, sells and supports seven different types of manufacturing equipment used primarily for metalworking. Opus Design Build was the design-builder, Opus AE Group was the structural engineer of record and Heitman Architects was the architect of record and the design architect.
HUNTLEY, ILL. — Midwest Industrial Funds has purchased a 71,000-square-foot industrial building in Huntley, about 50 miles northwest of Chicago. The property is located at 12007 Smith Drive. The building features 22-foot clear heights, eight exterior docks and parking for 60 cars. An additional three acres at the site can be developed separately. The facility is currently fully leased to one tenant that uses the property for warehousing and light manufacturing. Midwest Industrial plans to improve the exterior façade, install new windows, perform landscaping enhancements and eventually perform interior improvements to reposition the property in the marketplace. Dan Tobin of CTK Chicago Partners represented Midwest Industrial in the purchase. Michael Magliano of Cushman & Wakefield represented the seller, a private investor. The purchase price was not disclosed.