Illinois

Sedgwick Properties Breaks Ground on 69-Unit Luxury Apartment Building in Chicago

by Christina Cannon May 24, 2016

CHICAGO — Sedgwick Properties, a Chicago-based developer, has broken ground on a 69-unit luxury apartment building in Chicago’s Old Town neighborhood. The seven-story building, located at 301 W. North Ave., will offer a mix of one-, two- and three-bedroom apartments, with individual units ranging from 601 to 1,300 square feet. Building amenities will include a rooftop terrace with a wading pool and cabanas, outdoor kitchen, fire pit and lounge seating. Other amenities include a fitness center, community room with a demonstration kitchen, bicycle storage, secure heated parking and package concierge system. The pet-friendly building also will include approximately 4,500 square feet of retail space. The building is slated for delivery by fall 2017.

May 24, 2016

Illinois Midwest Retail

Baum Realty Arranges $14.1M Sale of 31,920 SF Retail Property in Chicago

by Christina Cannon May 24, 2016

CHICAGO — Baum Realty Group LLC has arranged the sale of a retail property in Chicago’s Edgewater neighborhood for $14.1 million. A local developer sold the ground-floor retail space at The Granville to a private east-coast investor. ALDI anchors the fully leased property, which includes four other tenants. The 31,920-square-foot asset also features 106 covered parking spaces. Danny Spitz and Patrick Forkin of Baum Realty represented the seller in the transaction.

May 24, 2016

Illinois Loans Midwest Multifamily

Cohen Financial Arranges Three Loans Totaling $35.9M for Multifamily Properties Near Chicago

by Christina Cannon May 23, 2016

PARK FOREST AND UNIVERSITY PARK, ILL. — Cohen Financial has arranged three acquisition loans totaling $35.9 million for multifamily properties in the suburbs of Chicago. The Ferndale Realty Group LLC is the borrower. In the first deal, Dan Rosenberg of Cohen Financial secured a $4.7 million loan for Governors House Apartments, a 96-unit property in University Park. Rosenberg also arranged an $11.4 million loan for the 220-unit Central Park Apartments and a $19.8 million loan for Autumn Ridge Apartments, a 384-unit property. Both Central Park Apartments and Autumn Ridge Apartments are located in Park Forest. All three fixed-rate loans featured a 10-year term with 30-year amortization schedule and were financed through Morgan Stanley’s CMBS program.

May 23, 2016

Illinois Industrial Loans Midwest

Wool Finance Partners Secures $3.8M Loan for 36,730 SF Industrial Property in Chicago

by Christina Cannon May 23, 2016

CHICAGO — Wool Finance Partners has arranged a $3.8 million refinancing loan for a 36,730-square-foot industrial property in the Fulton Market district of Chicago. The single-tenant, net-leased building is situated on a nearly one-acre site. Matt Lebenson of Wool Finance Partners originated the floating-rate, three-year loan through an undisclosed regional bank.

May 23, 2016

Illinois Loans Midwest Multifamily

Grandbridge Arranges $26.2M Refinancing Loan for 308-Unit Apartment Community in Chicago Suburb

by Christina Cannon May 20, 2016

LISLE, ILL. — Grandbridge Real Estate Capital has arranged a $26.2 million refinancing loan for a 308-unit multifamily property in Lisle, approximately 30 miles west of Chicago. Arboretum Village Apartments features amenities such as an outdoor pool, playground, Internet café and 24-hour fitness center. The fixed-rate, non-recourse loan features a 10-year term. Ben Fazendin of Grandbridge Real Estate Capital originated the Fannie Mae financing for the undisclosed borrower.

May 20, 2016

Illinois Midwest Retail

The Boulder Group Brokers $6.9M Sale of Building Net Leased to Bank of America

by Christina Cannon May 20, 2016

GLENVIEW, ILL. — The Boulder Group has arranged the sale of a building net leased to Bank of America for $6.9 million. The property is located at 1400 Waukegan Road in Glenview, approximately 20 miles northwest of Chicago. Other retailers in the immediate area include Walgreens, Trader Joe’s, Jewel-Osco, Ace Hardware, Staples and Starbucks. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate development company, in the transaction. The buyer was a local 1031 exchange investor. The Bank of America ground lease has over 13 years remaining and expires in December 2029. The ground lease features 10 percent rental escalations every five years throughout the primary term and renewal option periods.

May 20, 2016

Illinois Midwest Office

Chicago Post Office Sells for $130M, Buyers Plan $500M Redevelopment Project

by Christina Cannon May 19, 2016

CHICAGO — International Property Developers North America (IPDNA) has sold Chicago’s Old Post Office and adjacent sites to 601W Cos. for $130 million. The new owners have unveiled plans for a five-year, $500 million redevelopment of the sprawling building. The conversion will turn the 2.7 million-square-foot building into office space and will add a three-acre rooftop park, outdoor cafes, event space, a fitness center, basketball and paddle tennis courts and a quarter-mile running track. The redevelopment, to be conducted in three phases, is slated for completion in 2018. HFF represented 601W Cos. in the transaction, and Savills represented IPDNA.

May 19, 2016

Illinois Midwest Retail

Cushman & Wakefield Brokers $15M Sale of Fabyan Randall Plaza in Batavia, Illinois

by Christina Cannon May 19, 2016

BATAVIA, ILL. — Cushman & Wakefield has arranged the $15 million sale of Fabyan Randall Plaza, a 91,415-square-foot shopping center located in the Chicago suburb of Batavia. The center is anchored by Trader Joe’s and Walgreens, and is home to tenants including Smashburger, Sports Clips, Edward Jones and Papa John’s. Evan Halkias, Michael Marks and Nick Kanich of Cushman & Wakefield’s Retail Investment Advisory Group represented the seller, InvenTrust Properties. The buyer was Dallas-based Netco Investments Inc.

May 19, 2016

Illinois Midwest Retail

Quantum Brokers $4.1M Sale of 17,562 SF Retail Property in Metro Chicago

by Christina Cannon May 18, 2016

STREAMWOOD, ILL. — Quantum Real Estate Advisors Inc. has arranged the $4.1 million sale of a 17,562-square-foot, multi-tenant retail center in Streamwood, approximately 35 miles northwest of Chicago. Willow Pond Marketplace, located at 1040-1060 S. Sutton Road, features tenants such as GameStop, Jimmy John’s, Sport Clips and Kiddie Academy. A local private investor purchased the property from a California-based investor. Chad Firsel and Daniel Waszak of Quantum Real Estate Advisors were the sole brokers in the transaction.

May 18, 2016

Illinois Midwest Retail

Mid-America Arranges Sale of 18,700 SF Retail Property in Metro Chicago

by Christina Cannon May 18, 2016

SKOKIE, ILL. — Mid-America Real Estate Corp. has arranged the sale of the multi-tenant portion of Touhy Marketplace, an 18,700-square-foot retail property located in the Chicago suburb of Skokie. Ben Wineman of Mid-America arranged the sale on behalf of the seller, a private developer. An undisclosed private investment group acquired the property. Tenants at Touhy Marketplace, which is shadow-anchored by a Walmart Supercenter, include Sleepy’s, Supercuts, T-Mobile, Jimmy John’s, Moe’s Southwest Grill and M Burger. The PNC Bank, Just Tires and Jollibee locations at the center are separately owned and were not included in the sale.

May 18, 2016

Newer Posts

Older Posts