Illinois

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

Illinois Loans Midwest Minnesota Retail

Cronheim Mortgage Arranges Two Loans Totaling $16.9M for Gander Mountain Stores

by Christina Cannon August 1, 2016

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.

August 1, 2016

Healthcare Illinois Loans Midwest

Capital One Provides $11.9M Acquisition Loan for Medical Property in Illinois

by Christina Cannon August 1, 2016

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.

August 1, 2016

Illinois Midwest

Summit Design + Build Completes 12,000 SF Childhood Education Center in Chicago

by Christina Cannon August 1, 2016

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.

August 1, 2016

Illinois Midwest Multifamily

Ryan Cos., Lincoln Property Co. Top Out $100M Chicago Apartment Tower

by Christina Cannon July 29, 2016

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.

July 29, 2016

Healthcare Illinois Loans Midwest

Capital One Provides $33.6M Loan for Acquisition of Four Medical Office Properties Near Chicago

by Christina Cannon July 29, 2016

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.

July 29, 2016

Illinois Midwest Office

Cushman & Wakefield Arranges 18,044 SF Office Lease in Metro Chicago

by Christina Cannon July 29, 2016

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.

July 29, 2016

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