COLLINSVILLE, ILL. — Integra Real Estate Capital has negotiated a $3.2 million non-recourse loan for the acquisition of Orchards Shopping Center in Collinsville, 15 miles east of St. Louis. Dollar General, Asia Gardens and HSHS Medical Group anchor the 65,143-square-foot center. Meyer Perlman of Integra secured the 10-year, fixed-rate loan through a CMBS lender on behalf of the borrower, a New York-based investment group.
PEORIA, ILL. — Caddis has opened Heartis Village Peoria in Peoria, north of Springfield. The 108-unit, 97,000-square foot senior living community is located at 8201 N. Illinois Route 91. The community consists of two adjoined components: a single-story, 36-unit memory care residence and a three-story residence with a total of 72 assisted living apartments. Heartis Village Peoria offers a wide variety of amenities, including a salon and spa with a therapeutic tub, two interior courtyards, a large dining room and more. The community is owned by Caddis and managed by Pathway, a senior living operations management company headquartered in Chicago. Austin, Texas-based Katus LLC served as architect and Rosemont, Ill.-based McShane Construction served as general contractor.
GLENVIEW, ILL. — Baum Realty Group LLC has brokered the sale of a retail building in Glenview, a suburb of Chicago, for $1 million. The 4,150-square-foot building is located at 1107 Waukegan Road. Danny Spitz and Greg Dietz of Baum represented the undisclosed seller. A Chicago-based investment group purchased the property in a 1031 exchange.
NORMAL, ILL. — A joint venture between ALTO Real Estate Funds and M & J Wilkow Ltd. has acquired The Shoppes and Plaza at College Hills located in Normal, just north of Bloomington. The 441,995-square-foot, open-air shopping center was 95 percent leased at the time of sale to tenants including Gordmans, Hobby Lobby, Francesca’s, Chico’s, J.Jill and White House/Black Market. M & J Wilkow will manage the shopping center, and The Pollard Group will serve as leasing agent. HFF arranged $13.4 million in acquisition financing for The Shoppes. Benefit Street Partners LLC provided the 10-year, fixed-rate loan. HFF also marketed the property on behalf of the seller, Miller Capital.
ELK GROVE VILLAGE, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of an industrial building in Elk Grove Village, adjacent to O’Hare International Airport, for $2.2 million. The 34,856-square-foot, single-tenant property is located at 1331 Greenleaf Ave. Jason Caplan of Quantum represented the buyer, a Chicago-based, private real estate investor. An investment group based in the northern suburbs was the seller.
EVANSTON, ILL. — Marcus & Millichap has arranged the sale of The Chandler’s Building in Evanston, 12 miles north of Chicago, for $5.7 million. The building is located at 630 Davis St. near Northwestern University. The mixed-use property features office space and 23,929 square feet of ground-floor retail space. The property was built in 1910 with renovations completed in 2010. The building was 70 percent occupied at the time of sale. The buyer was a private real estate investor satisfying a 1031 exchange. The seller was 630 Davis Street LLC. Stephen Lieberman and Kyle Stengle of Marcus & Millichap represented the sale on behalf of ownership.
CHICAGO — Mid-America Real Estate Corp. has arranged the sale of 3030 North Broadway in Chicago for $81 million. The 137,618-square-foot shopping center is located between Barry and Wellington avenues. Ohio-based DDR Corp. purchased the center, which is anchored by grocer Mariano’s. Other tenants include XSport Fitness, Starbucks and PNC Bank. Ben Wineman and Joe Girardi of Mid-America represented the sellers, a joint venture between Barrett & Porto Real Estate, The Taxman Corp. and Newport Capital Partners.
PARK RIDGE, ILL. — McShane Construction Co. has completed construction of the latest Fitness Formula Clubs (FFC) location in Park Ridge. The 67,000-square-foot fitness facility is located at 826 W. Touhy Ave. FFC Park Ridge features two stories as well as a mezzanine level. The facility includes cardio and strength training spaces, group exercise rooms, studios, an indoor basketball court, six-lane lap pool and three-story indoor climbing wall. McShane completed the facility two months ahead of schedule. McShane has provided construction services for several other FFC locations in the Chicago area, including the signature facility at the former Chicago Mercantile Exchange building at Union Station.
SCHAUMBURG, ILL. — Retail Properties of America Inc. (RPAI) has renamed the office property formerly known as Zurich Towers to Schaumburg Towers. RPAI also signed two new leases at the property with Great American Insurance Group and Swiss Re for approximately 78,000 square feet. Schaumburg Towers is an office building with twin 20-story towers totaling approximately 895,000 square feet and is located in Schaumburg, Ill. The property is situated adjacent to Woodfield Mall, a Class A shopping mall. Great American Insurance Group and Swiss Re are both insurance companies. Steven Kling and David Florent of Colliers International are marketing the property for lease. Mark Kolar of JLL represented Great American Insurance Group, while Sven Sykes and Thomas Volini of Colliers International represented Swiss Re. Zurich Insurance relocated to a new 783,000-square-foot headquarters in Schaumburg near the corner of Meacham Road and Interstate 90.
CHICAGO — Jameson Commercial Real Estate has brokered the sale-leaseback of a mixed-use property in Chicago’s Fulton Market district for $1.7 million. The building, which consists of 6,000 square feet of office and retail space, is located at 1360 W. Lake St. A longtime occupant of the building, the seller was a distributor of medical devices for the orthopedic and arthroscopic markets. An East Coast-based investor was the buyer. Ari Topper of Jameson brokered the transaction.
