Illinois

High Street Residential, Carlson Break Ground on Luxury Apartment Community in Downers Grove, Illinois

by Kristin Harlow April 18, 2017

DOWNERS GROVE, ILL. — Developer High Street Residential and general contractor Carlson Construction have broken ground on Maple&Main, a 115-unit luxury apartment community in Downers Grove, a western suburb of Chicago. The six-story building will include 4,000 square feet of ground-floor retail space. The community will offer one-, two- and three-bedroom units. Amenities will include a pet spa, bike lounge, coffee station, fitness center, yoga studio, pool and sky deck. Maple&Main is slated to open for occupancy in the second quarter of 2018. ESG Architects is the project architect. David Paino and Jerry Ebert of High Street Residential are overseeing project development. Jacob Dell of CBRE is handling retail leasing.

April 18, 2017

Illinois Midwest Office

InvenTrust Signs 22,000 SF Office Lease in Downers Grove, Illinois

by Kristin Harlow April 18, 2017

DOWNERS GROVE, ILL. — InvenTrust Properties Corp. has signed a 22,000-square-foot office lease at the Highland Landmark II building in Downers Grove, a suburb of Chicago. The real estate investment trust will occupy the space at 3025 Highland Parkway. InvenTrust is moving its corporate headquarters currently located at 2809 Butterfield Road in Oak Brook, Ill. The company expects to complete the move this summer. Jon Springer and Gary Fazzio of CBRE represented the tenant in the lease transaction.

April 18, 2017

Illinois Loans Midwest Multifamily

Dougherty Mortgage Arranges $5.2M Supplemental Loan for Apartment Property in Palos Hills, Illinois

by Kristin Harlow April 17, 2017

PALOS HILLS, ILL. — Dougherty Mortgage LLC has arranged a $5.2 million Fannie Mae supplemental loan for Green Oaks Apartments in Palos Hills, a southwest suburb of Chicago. The property consists of 384 apartment units. The 7.9-year loan includes a 30-year amortization schedule, and was a supplemental loan for a previously closed refinancing. Dougherty’s Brentwood, Tenn. office arranged the loan for the borrower, Green Oaks at Palos Hills LP.

April 17, 2017

Illinois Midwest Retail

Boulder Group Brokers $3.3M Sale of Retail Center in Glendale Heights, Illinois

by Kristin Harlow April 17, 2017

GLENDALE HEIGHTS, ILL. — The Boulder Group has brokered the sale of a retail strip center anchored by Target in Glendale Heights for $3.3 million. The 5,000-square-foot building is located at 177-179 West Army Trail Road. Sleep Number and Union Bank occupy the property, which is an outparcel to the 166,000-square-foot Target store. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a Midwest-based private real estate investor in a 1031 exchange. A national real estate developer was the seller.

April 17, 2017

Illinois Industrial Loans Midwest

New York Life Originates $59.4M Mortgage Loan for Industrial Portfolio in Chicago Metro

by Kristin Harlow April 13, 2017

CHICAGO — New York Life Real Estate Investors has originated a $59.4 million mortgage loan for a cold storage industrial portfolio scattered across metro Chicago. The portfolio consists of four buildings spanning 710,000 square feet. The buildings are located in Chicago, Bartlett and Lyons, Ill. The floating-rate loan has a five-year term. The borrower was an institutional investor.

April 13, 2017

Illinois Midwest Multifamily

Essex Brokers $1.7M Sale of Multifamily Property in Chicago

by Kristin Harlow April 13, 2017

CHICAGO — Essex Realty Group Inc. has brokered the sale of a two-building multifamily property in Chicago’s Roscoe Village for $1.7 million. The buildings are located at 2101 W. Fletcher St. The first building consists of three units, including one- and two-bedroom units. The second building includes two four-bedroom units. Both buildings were renovated in 2015. Doug Fisher and Matt Welke of Essex represented the undisclosed seller, while Doug Imber, Kate Varde and Clay Maxfield represented the undisclosed buyer.

April 13, 2017

Illinois Midwest Multifamily

Crevo Capital to Develop $35M Apartment Property in Shiloh, Illinois

by Kristin Harlow April 12, 2017

SHILOH, ILL. — Crevo Capital has unveiled plans to develop a $35 million apartment property in Shiloh, about 22 miles east of St. Louis. The Savannah will consist of 300 luxury apartments on 26 acres. Amenities will include a health club and community lounge. Floor plans will consist of one-, two- and three-bedroom layouts. Housing Studio is designing the buildings and site layout. Fairview Heights, Ill.-based IMPACT Strategies will provide construction services. Pending approval from the Village of Shiloh, Crevo Capital expects to begin construction this fall with units available for occupancy in early 2019.

April 12, 2017

Illinois Midwest Retail

Boulder Group Arranges $24.3M Sale of Retail Property in Chicago

by Kristin Harlow April 11, 2017

CHICAGO — The Boulder Group has arranged the sale of Archer Station in Chicago for $24.3 million. The retail property is fully leased to four tenants including LA Fitness, Ross Dress for Less, AT&T Wireless and Athletico Physical therapy. The property is located at 2640 W. Pershing Road. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the seller, a Midwest-based real estate development company, and the buyer, an institutional investor.

April 11, 2017

Healthcare Illinois Midwest Top Stories

Care Capital Properties to Acquire Six Behavioral Health Hospitals for $400M

by Katie Sloan April 11, 2017

CHICAGO — Care Capital Properties Inc. (NYSE: CCP) has entered into a definitive agreement to acquire six behavioral health hospitals in a sale-leaseback transaction for $400 million. The six-property portfolio contains a total of 712 beds in California, Arizona and Illinois. The hospitals primarily provide acute inpatient and outpatient psychiatric care, addiction services, geriatric psychiatric care and child and adolescent psychiatric care. Signature Healthcare Services LLC, one of the largest privately owned behavioral healthcare providers in the United States, currently owns the properties. As part of the transaction, CCP has agreed to fund up to $50 million in expansion and improvements within the portfolio. CCP will also have an option, exercisable beginning in the fourth quarter of 2018, to purchase one additional building for an amount that is expected to be approximately $20 million. Acquired properties include Aurora Charter Oak Hospital in Covina, Calif.; Aurora Vista del Mar Hospital in Ventura, Calif.; Aurora San Diego Hospital in San Diego; Aurora Arizona West in Glendale, Ariz.; Aurora Arizona East in Tempe, Ariz.; and Aurora Chicago Lakeshore Hospital in Chicago. Upon completion of the transaction, which is slated for the second quarter of 2017, CCP will lease the properties to affiliates of …

April 11, 2017

Illinois Midwest Retail

Federal Realty Acquires 211,000 SF Shopping Center in Chicago for $107M

by Kristin Harlow April 6, 2017

CHICAGO — Federal Realty Investment Trust has acquired Riverpoint Center in Chicago’s Lincoln Park for $107 million. The 211,000-square-foot grocery anchored shopping center sits on 17 acres at the corner of West Fullerton and North Clybourn avenues. Riverpoint Center is currently 97 percent occupied and is anchored by Jewel-Osco, Marshalls and Old Navy. Federal Realty anticipates increasing the value of the property over time through the re-leasing of space currently leased at below market rents and the potential to increase density at the infill site, according to a news release.

April 6, 2017

Newer Posts

Older Posts