Illinois

Conor Commercial Finalizes Tenants at New Industrial Business Park in Bolingbrook, Illinois

by Kristin Harlow January 12, 2017

BOLINGBROOK, ILL. — Black Horse Carriers and Trane U.S. Inc. have signed leases at Conor Commercial’s new Fountain Square Commerce Center. The 70-acre industrial business park is located at Remington Boulevard and South Schmidt Road in Bolingbrook, a suburb of Chicago. Black Horse Carriers, a provider of dedicated fleet and private fleet replacement services for companies that require specialized trucks and equipment, has leased all 109,354 square feet in Building 1. Trane U.S., which specializes in air-conditioning systems, has leased 44,179 square feet within Building 3. The building totals 162,394 square feet. George Pappas of Hartford Associates represented Black Horse Carriers in the lease transaction, while Jim Cummings and Brian Carroll of Newmark Grubb Knight Frank and Jim Estus and David Bercu of Colliers International represented the owner. Mike Magliano of Cushman & Wakefield represented Trane U.S., while Bercu and Estus represented Conor Commercial. McShane Construction Co. and Ware Malcomb, the original design/build team for the industrial business park, will complete the interior build-outs on behalf of both tenants.

January 12, 2017

Illinois Loans Midwest Mixed-Use

ASC Arranges $4.1M Acquisition Loan for Mixed-Use Property in Chicago

by Kristin Harlow January 12, 2017

CHICAGO — American Street Capital has arranged a $4.1 million loan for the acquisition of a mixed-use property in Chicago’s Lincoln Park. Originally built in 1889, the building was recently renovated and consists of one ground-floor retail unit and eight residential units. The 20-year loan includes a 30-year amortization schedule and was funded through the Freddie Mac small balance program. Igor Zhizhin of ASC originated the loan.

January 12, 2017

Illinois Midwest Office

The Missner Group Acquires 138,000 SF Office Property in Chicago Suburb

by Kristin Harlow January 11, 2017

LAKE FOREST, ILL. — The Missner Group has acquired Cadence at Conway Park in the Chicago suburb of Lake Forest. The sales price was not disclosed. The 138,000-square-foot Class A office building is located at 300 N. Field Drive along I-294. The building was originally constructed in 2007 and was developed by Duke Realty. The property features 34,500-square-foot floor plates with layouts including multiple conference and training spaces, a two-story atrium-style lobby, commercial kitchen, game room and Wi-Fi lounge. The Missner Group purchased the property from Hospira, which was acquired by Pfizer in 2015. Hospira purchased the property for $28.8 million in 2007. Jason Simon and Darryl Silverman of Colliers International will market the property on behalf of The Missner Group. Barry Missner and Ed Adler of The Missner Group led the acquisition for the firm. James Ward, Jonathan Metzl and Adam Showalter of Cushman & Wakefield represented the seller in the transaction.

January 11, 2017

Illinois Industrial Midwest

Realty Metrix Brokers Sale of 24,600 SF Industrial Building in West Chicago

by Kristin Harlow January 11, 2017

CHICAGO — Realty Metrix Commercial has brokered the sale of a 24,600-square-foot industrial building located at 450 Wegner Drive in West Chicago. The sales price was not disclosed. The property consists of a 24,600-square-foot industrial building situated on 1.3 acres. Siegwerk Environmental Inks, a German-based manufacturer of water-based inks, occupies the space. Dave Schmidt and Linda Kost of Realty Metrix represented the buyer, LMK LLC. Tom Bosshart of Norwood-O’Hare Realty Group Inc. represented the seller.

January 11, 2017

Illinois Midwest Multifamily Seniors Housing

CA Ventures, Pathway Open $28M Senior Living Community in Grayslake, Illinois

by Kristin Harlow January 10, 2017

GRAYSLAKE, ILL. — CA Ventures LLC and Pathway Senior Living have opened Travanse Living at Grayslake, a 96-unit senior living community. The building is located at 1865 E. Belvidere Road in Grayslake, about 40 miles north of downtown Chicago. The community features 68 assisted living suites and 28 memory care residences. The assisted living suites consist of 29 studios, 37 one-bedroom and two two-bedroom units. Located on the third floor, the 28 memory care residences consist of 20 studios and eight two-bedroom units. The community is located two miles from Northwestern Medicine Grayslake Outpatient Center. Chicago-based Worn Jerabek Wiltse Architects designed the community. CA Ventures was the project developer, and Pathway will operate the community. Travanse Living communities are also located in Olathe, Kan. and Wheaton, Ill.

January 10, 2017

Illinois Midwest Multifamily

Origin Investments, Draper and Kramer Acquire Apartment Property in Chicago Suburb for $48M

by Kristin Harlow January 9, 2017

PALATINE, ILL. — Origin Investments, in partnership with Draper and Kramer Inc. and LEM Capital, has acquired Village Park of Palatine in the Chicago suburb of Palatine for $48 million. The 448-unit apartment complex features 15 two- and three-story buildings on a 28-acre site. The unit mix includes 154 studio and one-bedroom units averaging 706 square feet, 195 two-bedroom units averaging 994 square feet and 99 three-bedroom units averaging 1,225 square feet. At the time of acquisition, the property was 92 percent occupied. Over the next 30 months, Origin and its partners plan to upgrade all units in the complex, which was originally developed in 1977 and renovated in 1997. New appliances, cabinets, countertops and hardware will be installed. The partnership will oversee extensive common area upgrades as well.

January 9, 2017

Illinois Industrial Midwest

Deka Immobilien Acquires 717,000 SF Amazon Gateway Distribution Center Near St. Louis for $42.3M

by Kristin Harlow January 9, 2017

EDWARDSVILLE, ILL. — Deka Immobilien Investment GMBH, a real estate investment company based in Germany, has acquired the Amazon Gateway Distribution Center in Edwardsville near St. Louis for $42.3 million. The 717,000-square-foot building was developed by a joint venture between Tristar Cos. and Pacific Coast Capital Partners (PCCP). Robert Stamm of Colliers International led the negotiation of the transaction. In addition, Brian Corrigan, Brandon McMenomy, Andres Roldan and Steven Ward of Colliers represented Deka. Steve Disse and Jeff Devine of Colliers Chicago represented Tristar and PCCP.

January 9, 2017

Illinois Loans Midwest Multifamily

Mission Capital Arranges $170M Construction Loan for Luxury Apartment Building in Chicago

by Kristin Harlow January 6, 2017

CHICAGO — Mission Capital Advisors has arranged a $170 million loan for the construction of Essex on the Park in Chicago. The 56-story, 479-unit luxury apartment building will be located at 808 S. Michigan Ave. As part of the project, the adjacent Essex Inn will be expanded to 271 rooms and repositioned as the Hotel Essex. Opening of the entire project is slated for 2019. The apartments will include a mix of studios, convertibles, and one-, two- and three-bedroom units. The top two residential floors of the building will include four penthouse duplexes. Jordan Ray, Ari Hirt, Steven Buchwald and Jamie Matheny of Mission Capital advised ownership and sourced the financing from a global investment bank. Oxford Capital Group LLC and Quadrum Global are co-developing the project.

January 6, 2017

Illinois Midwest Multifamily

Crescent Heights Breaks Ground on Apartment Tower in Chicago’s South Loop

by Kristin Harlow January 6, 2017

CHICAGO — Crescent Heights has broken ground on One Grant Park in Chicago’s South Loop. The 76-story apartment building, located at 1200 S. Indiana Ave., will include 792 luxury apartments. Completion is slated for early 2019. Rafael Viñoly designed the tower, and Rockwell Group will design the interiors of the units. The building will include a mix of studio, one-, two- and three-bedroom apartments. S. Loop Chicago Development LLC purchased the three-acre site in 2012.

January 6, 2017

Illinois Loans Midwest Mixed-Use

Associated Bank Provides $36.3M Syndicated Construction Loan for Mixed-Use Development in Chicago

by Kristin Harlow January 5, 2017

CHICAGO — Associated Bank has provided $36.3 million in syndicated financing for a new mixed-use development under construction in Chicago. The 11-story tower will be located at 165-171 N. Aberdeen St. and will include 13,895 square feet of street-level retail space and 43,438 square feet of office space on the fourth and fifth floors. Floors six through 10 will contain 75 apartment units consisting of 10 studios, 50 one-bedroom units and 15 two-bedroom units. The project is scheduled for completion in October 2017. MCZ Development was the borrower. @Properties is marketing the tower. Associated Bank was the lead arranger/administrative agent and provided $18.1 million. The Private Bank was co-lead arranger and also provided $18.1 million. Michael Olson of Associated Bank managed the loan and closing.

January 5, 2017

Newer Posts

Older Posts