Illinois

RPAI Acquires 182,000 SF Mixed-Use Property in Naperville, Illinois for $88M

by Kristin Harlow January 19, 2017

NAPERVILLE, ILL. — Retail Properties of America Inc. (RPAI) has acquired Main Street Promenade in Naperville for $88 million. The 182,000-square-foot mixed-use property includes 103,000 square feet of retail space and 79,000 square feet of office space. The property is currently 93 percent occupied by tenants such as Anthropologie, Ann Taylor, Sur la Table and White House Black Market. The acquisition also includes a vacant parcel that can be developed into 62,000 square feet of mixed-use space. Dwight and Ruth Yackley of BBM Inc. developed the project. CBRE represented the seller, Dwight Yackley.

January 19, 2017

Affordable Housing Illinois Midwest Multifamily

Evergreen Real Estate Starts Lease-up of $13.5M Affordable Housing Community in Mundelein, Illinois

by Kristin Harlow January 19, 2017

MUNDELEIN, ILL. — Evergreen Real Estate Group has begun pre-leasing at Fairhaven Crossing, an affordable housing community in Mundelein, about 35 miles northwest of Chicago. The $13.5 million project is part of a larger initiative to turn downtown Mundelein into a walkable mixed-use district. Located at 407 E. Hawley St., the transit-oriented development consists of 40 units. The site was previously home to an industrial building that was converted into the three-story residential building. The redevelopment was partially funded using $5.6 million in low-income housing tax credit financing secured by Evergreen Real Estate.

January 19, 2017

Illinois Midwest Office

Transwestern Arranges $10M Sale of Office Building in Deerfield, Illinois

by Kristin Harlow January 18, 2017

DEERFIELD, ILL. — Transwestern has arranged the sale of a three-story office building in Deerfield for $10 million. The 120,000-square-foot building is located at 155 N. Pfingsten Road. The property is 90 percent leased by 12 tenants and is anchored by NCH Marketing Services. Gary Nussbaum, Michelle Monhaut and Paige Gunn represented the seller, Colony Realty Partners. Brad Nichol of Boxer Property led the transaction on Boxer’s behalf. The company plans to upgrade building systems and add on-site tenant amenities.

January 18, 2017

Illinois Midwest Multifamily

McShane to Construct Luxury Apartment Complex in Oak Brook, Illinois

by Kristin Harlow January 18, 2017

OAK BROOK, ILL. — McShane Construction Co. has been selected by Interforum Holdings to construct Lakeside Village of Oak Brook, a 315-unit apartment complex in Oak Brook. The building will be constructed on a six-acre parcel located off Royce Boulevard. The four-story development will feature an urban “Texas donut” design in which the residential component is constructed around a central core parking garage. The property will consist of 40 one-, 263 two- and 12 three-bedroom floor plans. Amenities will include a fitness center, business center, swimming pool, playground, dog park and dog washing station. Construction will be completed in phases with move-ins beginning in early 2018. The entire development will be completed in late 2018. Baranyk Associates Ltd. is providing architectural services.

January 18, 2017

Illinois Midwest Office

FD Stonewater Acquires 164,845 SF Office Building in Evanston, Illinois

by Kristin Harlow January 17, 2017

EVANSTON, ILL. — FD Stonewater has acquired a multi-tenant office building in Evanston, 13 miles north of Chicago. The Class A, 164,845-square-foot building is located at 1007 Church St. Architect Helmut Jahn designed the building. The property was 79 percent leased upon acquisition to tenants in the education, healthcare and technology sectors. The building has been renamed Evanston MetroCenter. FD Stonewater, based in Arlington, Va., plans to make building improvements at Evanston MetroCenter and expand tenant services.

January 17, 2017

Healthcare Illinois Midwest

Baum Arranges $4.1M Sale of Medical Building in Park Ridge, Illinois

by Kristin Harlow January 17, 2017

PARK RIDGE, ILL. — Baum Realty Group LLC has arranged the sale of a medical building in Park Ridge for $4.1 million. The 13,925-square-foot building is located at 101 S. Washington Ave. The property is 100 percent leased. Medical practices have occupied the property for over 20 years. Danny Spitz and Greg Dietz of Baum represented the seller, a national developer. A Chicago-based investment group was the buyer.

January 17, 2017

Illinois Midwest Retail

Children’s Learning Place Leases 8,000 SF at Luxe on Chicago Apartment Building

by Kristin Harlow January 17, 2017

CHICAGO — Children’s Learning Place has leased 8,000 square feet in the base of Luxe on Chicago, a 59-unit apartment building developed by Fifield Cos. The property is located at 1850 W. Chicago Ave. Chris Irwin and Katie Whelan of Jameson Commercial LLC represented the developer in the transaction. Noah O’Neill represented the tenant, Children’s Learning Place. The early learning academy operates four other locations in Chicago.

January 17, 2017

Illinois Midwest Office

CBRE Arranges $12.7M Sale of Office Property in Schaumburg, Illinois

by Kristin Harlow January 16, 2017

SCHAUMBURG, ILL. — CBRE has arranged the sale of Parkway Corporate Place in Schaumburg for $12.7 million. Totaling 161,741 square feet, the three-building office property is located on 16.1 acres. The property is currently 88 percent leased. Sperry Equities LLC was the buyer. Bill Novelli, Derek Fohl, Robert Graham and Dan Bessey of CBRE represented the undisclosed seller in the transaction.

January 16, 2017

Illinois Industrial Midwest

NAI Hiffman Brokers Sale of 74,997 SF Industrial Building in Chicago

by Kristin Harlow January 16, 2017

CHICAGO — NAI Hiffman has brokered the sale of a 74,997-square-foot industrial building located at 830 W. 40th St. in Chicago. The building features 9,150 square feet of office space, 18-foot clear heights and three interior loading docks. Chris Gary and Joe Bronson of NAI Hiffman represented the buyer, Hog Shed Ventures LLC. George Maragos, Mitch Adams and Nicole Mentone of CBRE represented the seller, VK 830 W. 40th LLC. The building will be home to Frost Lighting, a full-service event production company.

January 16, 2017

Illinois Midwest Multifamily

Kiser Group Arranges $15.3M Sale of Multifamily Portfolio in Chicago

by Kristin Harlow January 12, 2017

CHICAGO — Kiser Group has brokered the sale of a multifamily portfolio in Chicago’s Edgewater neighborhood for $15.3 million. The portfolio consists of three apartment buildings totaling 109 units. The vintage buildings are located at at 6100 N. Winthrop, 6101 N. Winthrop and 6110 N. Winthrop. Sal Becovic of Becovic Properties was the buyer. Rae Ann and Bob Cecrle of B&R Developments were the sellers. Lee Kiser, Michael Feldstein, Luke Lesniewski and Steven Haen of Kiser Group brokered the transaction.

January 12, 2017

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