WOODBURY, MINN. AND JOLIET, ILL. — Cronheim Mortgage has arranged two loans totaling $16.9 million to refinance two Gander Mountain stores in the Midwest. The buildings, located in Woodbury, Minn. and Joliet, Ill., are each approximately 66,000 square feet. David Turley, Janet Proscia and Jeff Pacailler of Cronheim Mortgage arranged the non-recourse, fixed-rate bank loans. Both the lender and borrower in the deal are undisclosed.
MOKENA, ILL. — Capital One has provided an $11.9 million acquisition loan for a 28,000-square-foot medical property in Mokena, approximately 40 miles southwest of Chicago. MedProperties Holdings LLC acquired the Center for Minimally Invasive Surgery, which features four operating rooms, a 14,000-square-foot surgery center and a 5,350-square-foot recovery center. The seller and terms of the loan were undisclosed.
CHICAGO — Summit Design + Build LLC has completed a 12,000-square-foot early childhood education center in Chicago’s Wicker Park/Bucktown neighborhood. The Michael R. Lutz Family Center is a two-story building located at 2129 W. North Ave. The center is owned and run by the Jewish Council for Youth Services. The facility features seven classrooms, staff offices and a 2,000-square-foot outdoor play area. OKW Architects provided architectural services for the project.
CHICAGO — Ryan Cos. and Lincoln Property Co. have topped out a 368-unit, luxury apartment building in Chicago’s Gold Coast neighborhood. Aurélien is a 31-story, $100 million project that will be located at 833 N. Clark St. Construction on the project began in July 2015 and is slated to be completed by early 2017. Daiwa House Texas Inc. is the primary equity investor in Aurélien. When completed, the building will offer 78 studios and convertibles, 209 one-bedroom units, 75 two-bedroom units and six penthouse apartments. The majority of unit sizes will range from 563 square feet to 1,252 square feet, while penthouse apartments will range from 1,179 square feet to 3,250 square feet.
CHICAGO — Capital One has provided a $33.6 million loan for the acquisition of four medical office buildings near Chicago. A joint venture between Harrison Street Real Estate Capital and MedProperties Group purchased the assets. The seller in the transaction was undisclosed. The portfolio of properties includes the 51,632-square-foot Lockport Crossing in Lockport; the 22,467-square-foot Dryer Medical Clinic in Batavia; the 62,808-square-foot Arlington Heights Medical Center in Arlington Heights; and the 17,374-square-foot Batavia Medical Campus II in Batavia.
OAKBROOK TERRACE, ILL. — Cushman & Wakefield has arranged an 18,044-square-foot office lease in Oakbrook Terrace, approximately 20 miles west of Chicago. Hyundai Motor America is relocating the office portion of its central regional offices to the top floor of TransAm Plaza Two. Hyundai’s service training center and parts distribution subsidiary, Mobis, will remain at an industrial facility located at 1705 Sequoia Ave. in Aurora, Ill. JBS Commercial represented the landlord, American Landmark Properties, in the transaction.
CHICAGO —TSP Value and Income Fund, a subset of Transwestern Investment Group, has purchased a five-property, industrial portfolio in the Chicago area for an undisclosed price. The portfolio, which is fully occupied, totals 1.4 million square feet. The properties include 3800 Sunset Ave. in Waukegan; 301-363 N. Third Ave. in Des Plaines; 5300 Proviso Drive in Melrose Park; 7400 Richards Road in Bridgeview; and 5100 W. 123rd St. in Alsip. The properties have clear heights ranging from 21 feet to 30 feet and all have some percentage of office finish. The portfolio features eight tenants including Dulin Metals Co., Permasteelisa North America, Midland Paper Co., Keystone Automotive Industries and Cornfields Inc. Christopher Carroll and Brian Carlton of HFF placed a five-year, fixed-rate acquisition loan for the portfolio with a life company.
ADDISON, ILL. — Transwestern has brokered the sale of a 40,000-square-foot industrial property in Addison, approximately 25 miles west of Chicago. Venture One Real Estate purchased the property, located at 120 Fairbank St., from a private seller for an undisclosed price. The facility, built in 1979, features six exterior docks, three drive-in doors and 1,500 square feet of office space. Justin Lerner and Joe Karmin of Transwestern represented the seller in the transaction.
HOMEWOOD, ILL. — ALTO Fund II, a New York-based real estate investment fund, in a joint venture with Besyata Investment Group, has acquired a 235,000-square-foot shopping center in Homewood, approximately 30 miles south of Chicago, for $32 million. Washington Park Plaza is 95 percent occupied and tenants include Starbucks, TJ Maxx, Ross Dress for Less, Petco and Party City. The seller in the transaction was undisclosed.
ROMEOVILLE, ILL. — The Boulder Group has brokered the sale of a three-tenant, net-leased shopping center in Romeoville, approximately 40 miles southwest of Chicago, for $4.2 million. The property is located at 253 S. Weber Road, and tenants include Chipotle, Dunkin’ Donuts and Sleepy’s. Target and Kohl’s shadow anchor the center, which was built in 2014. The buyer was a Northeast-based real estate investment company in a 1031 exchange transaction. The seller was a Midwest real estate company. Dunkin’ Donuts and Chipotle have approximately eight years remaining on their lease, and Sleepy’s has six years remaining on its lease.
