Illinois

Hammes Co., Centegra Health System to Open $230M Hospital in Illinois

by Christina Cannon August 5, 2016

HUNTLEY, ILL. — Hammes Co. and the Centegra Health System will open the $230 million, 128-bed Centegra Hospital-Huntley on Tuesday, Aug. 9. Hammes began developing the hospital, located approximately 50 miles northwest of Chicago, in February 2014. In addition to general medical and surgical services, the hospital also features a cardiac catheterization lab, two Level II trauma rooms, a Family Birth Center, a special care nursery and a helipad for critical Flight for Life situations. Centegra Hospital-Huntley created 800 construction jobs and 1,000 permanent jobs. Power Construction was the general contractor, and Kahler Slater was the architect of record. Korda/Nemeth Engineering provided engineering services.

August 5, 2016

Illinois Midwest Mixed-Use Multifamily

Joseph J. Duffy Co. Breaks Ground on $12.5M Mixed-Use Building in Chicago

by Christina Cannon August 5, 2016

CHICAGO — Joseph J. Duffy Co. has broken ground on a $12.5 million mixed-use building in Chicago’s Woodlawn neighborhood. Trianon Lofts, to be located at 803 E. 61st St., will consist of 24 two-bedroom/two-bathroom units and 7,000 square feet of retail space. Units, which will average from 900 to 950 square feet, will include 10-foot ceilings, stainless steel appliances, granite countertops, in-unit washers and dryers and be predominantly market rate. Preservation of Affordable Housing (POAH) is the developer, and Urban Works is the project architect. The project is part of the city of Chicago and POAH’s Choice Neighborhoods Partnership, which is redeveloping the former Grove Parc apartments.

August 5, 2016

Illinois Midwest Multifamily Seniors Housing

Colliers Brokers $6M Land Sale for Future Development of Seniors Housing Facility Near Chicago

by Christina Cannon August 5, 2016

LINCOLNWOOD, ILL. — Colliers International has brokered the sale of 13 acres in Lincolnwood, roughly 13 miles northwest of Chicago, for over $6 million. South Bay Partners acquired the land and plans to develop a seniors housing facility, which will include assisted living and memory care, on the site. The property, located at 3400 W. Pratt Ave., is the former headquarters site for Bell and Howell, a media equipment supplier. Steven Kohn of Colliers International represented the seller, CenterPoint Properties, in the transaction.

August 5, 2016

Illinois Midwest Multifamily

Inland Arranges $8.1M Sale of Apartment Property in Metro Chicago

by Christina Cannon August 4, 2016

PALATINE, ILL. — Inland Real Estate Brokerage & Consulting Inc. has arranged the sale of an apartment portfolio totaling 102 units in Palatine, approximately 30 miles northwest of Chicago, for more than $8.1 million. The portfolio consists of 17 six-unit buildings located within the Long Valley Apartment complex and a controlling interest in the apartment association. The buildings, constructed in the 1970s, provide a mix of 80 percent two-bedroom units and 20 percent one-bedroom units. Both parties in the transaction are undisclosed.

August 4, 2016

Illinois Midwest Mixed-Use Office Retail

Colliers International Brokers $7.4M Sale of Mixed-Use Property in Chicago Suburb

by Christina Cannon August 4, 2016

WOODRIDGE, ILL. — Colliers International has brokered the $7.4 million sale of a five-building, mixed-use development in Woodridge, approximately 30 miles southwest of Chicago. A private investor sold the property located at 6315-6440 Main St. Built in 2007, the property consists of one office building and four retail buildings that total 55,626 square feet. Tenants at the buildings include Loyola University Medical, Jimmy John’s, Sport Clips, Salon Aria, Aurelios, ATI Holdings, Seven Bridges Eye Care, Little Kids Learning, Sunburst Innovations, DMB Dental, Cherry Creek Mortgage and 3Vue. Main Street at Seven Bridges is part of a larger lifestyle center and was 93 percent leased at the time of sale. Joseph Yendrek of Equitable Realty Group represented the undisclosed buyer in the transaction.

August 4, 2016

Illinois Midwest Office

Equus Capital Partners Acquires 414,442 SF Office Property in Metro Chicago

by Christina Cannon August 3, 2016

OAKBROOK TERRACE, ILL. — An affiliate of Equus Capital Partners Ltd. has acquired a Class A office property in Oakbrook Terrace, approximately 20 miles west of Chicago, for an undisclosed price. Mid America Plaza is a 414,442-square-foot complex that includes two 10-story buildings. The property was 87 percent leased at the time of sale. Mid America Plaza, built in 1985, features amenities such as a conference center, deli, restaurant, a 16,600-square-foot fitness center, picnic areas, walking trails, a softball field and a pond. The complex is also located across the street from the Oakbrook Center Mall, which is currently undergoing a $150 million expansion. Mark Katz and Bryan Rosenberg of HFF represented the undisclosed seller in the transaction.

August 3, 2016

Illinois Midwest Office

Fifield Cos. Completes Renovation of 106,000 SF Office Building in Chicago’s West Loop

by Christina Cannon August 3, 2016

CHICAGO — Fifield Cos. has completed a 12-month renovation of a 106,000-square-foot office property in Chicago’s West Loop. The eight-story Burnham 600 is located at 600 W. Jackson Blvd. and was designed by Daniel Burnham in 1912. After purchasing the building in 2015, Fifield Cos. renovated the lobby, hallways and elevators, and added new signage and a security desk. Fifield Cos. also made renovations to the building’s sixth floor, where the company’s 6,500-square-foot headquarters office is located. Other tenants in the building include Assemble, Bravo Foods, Evan Law Group, Family Health Network, Gibraltar Capital Advisors, Mark IV Realty, OKW Architects, Reed Construction, Seneca Real Estate Advisors and Starwood Hotels.

August 3, 2016

Illinois Midwest Retail

Quantum Real Estate Advisors Arranges $3.4M Sale of Retail Building in Chicago

by Christina Cannon August 3, 2016

CHICAGO — Quantum Real Estate Advisors Inc. has brokered the sale of a 5,215-square-foot retail building for $3.4 million. iFLY, an indoor skydiving facility, occupies the building, which is located at 800 W. Scott St. in Chicago. A Chicago-based private real estate investor acquired the property from a Chicago-based developer. Chad Firsel of Quantum Real Estate Advisors represented both parties in the transaction.

August 3, 2016

Illinois Loans Midwest Retail

NorthPoint Capital Arranges $1.3M Loan for 16,300 SF Retail Center in Metro Chicago

by Christina Cannon August 3, 2016

CAROL STREAM, ILL. — NorthPoint Capital Funding Inc. has arranged a $1.3 million acquisition loan for a 16,300-square-foot retail center in Carol Stream, approximately 30 miles west of Chicago. Elk Trail Center was built in 1984 and was fully occupied by 11 tenants at the time of funding. The center is located at 257-281 W. Elk Trail Road. NorthPoint Capital placed the 20-year, fully amortizing loan with Farm Bureau of Michigan. The undisclosed borrower was in a 1031 exchange.

August 3, 2016

Illinois Loans Midwest Office

HFF Arranges $233.3M Construction Loan for Trophy Office Tower in Chicago’s West Loop

by Christina Cannon August 2, 2016

CHICAGO — HFF has arranged a $233.3 million construction loan for a 35-story office tower in Chicago’s West Loop. The John Buck Company will develop the Class A CNA Center at 151 N. Franklin St. The building will serve as the new world headquarters for CNA, an insurance organization and the principal subsidiary and operating company of CNA Financial. The tower will also house the national headquarters for Hinshaw & Culbertson LLP, an international law firm. The LEED Gold-certified building will boast 807,137 square feet of space and a 500-stall parking garage. Amenities at 151 N. Franklin will include a 4,200-square-foot rooftop terrace and bar, 10,000 square feet of courtyards, a fitness center, 250-seat conference center, restaurant, bike room and a café and coffee bar. The project is slated for completion in the summer of 2018. Michael Kavanau and Danny Kaufman of HFF placed the loan with Bank of the Ozarks. John Ronan Architects and Adamson Associates are the project designers.

August 2, 2016

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