Illinois

Mid-America Arranges $46.5M Sale of The Heritage Shops at Millennium Park in Chicago

by Christina Cannon May 4, 2016

CHICAGO — Mid-America Real Estate Corp. has arranged the $46.5 million sale of The Heritage Shops at Millennium Park, a 98,547-square-foot street retail property located in Chicago. Joe Girardi and Stan Nitzberg of Mid-America represented the seller, Acadia Realty Trust, in the sale of the property to Texas-based Hunt Investment Management. The asset is located at the southeast corner of Randolph Street and Wabash Avenue. Tenants at the property include LA Fitness Signature Club, McDonald’s, Fifth Third Bank, Ann Taylor LOFT, Lane Bryant/Cacique, Fannie May Candies, Intelligentsia Coffee and Sugar Bliss Cake Boutique.

May 4, 2016

Illinois Industrial Midwest

Venture One Purchases 21,672 SF Distribution Center in Gurnee, Illinois

by Christina Cannon May 4, 2016

GURNEE, ILL. — Venture One Real Estate LLC has purchased a single-tenant 21,672-square-foot distribution center in Gurnee, approximately 45 miles northwest of Chicago, for an undisclosed price. Chenille Kraft Co. sold the building, which is located on 1.4 acres at 65 Ambrogio Drive. Venture One plans to rehab the property. David Liebman of Merit Partners represented the seller, and Venture One was self-represented.

May 4, 2016

Hospitality Illinois Midwest

First Hospitality Group to Develop 200-Room Hotel at Chicago’s Navy Pier

by Christina Cannon May 3, 2016

CHICAGO — The City of Chicago has unveiled plans for a 200-room hotel at Navy Pier. Construction on the $90 million project is slated to start next year and be complete by the later half of 2018. The five-story hotel will be built next to Festival Hall on the east end of the pier and will anchor the dining and entertainment portion of the Navy Pier’s Centennial Vision, a reimagination and redevelopment of the 100-year-old pier. KOO is the architect for the hotel, and First Hospitality Group will develop and manage the property. James McHugh Construction Co. will build the hotel. The brand of the hotel has yet to be determined. Originally opened in 1916 as a shipping and recreation facility, Navy Pier showcases more than 50 acres of parks, restaurants, attractions, retail shops, sightseeing and dining cruise boats, exposition facilities and more.

May 3, 2016

Illinois Industrial Midwest

HSA Commercial Arranges 120,249 SF Industrial Lease in Waukegan, Illinois

by Christina Cannon May 3, 2016

WAUKEGAN, ILL. — HSA Commercial Real Estate has arranged a 120,249-square-foot industrial lease at the Delany Commerce Center in Waukegan, approximately 40 miles north of Chicago. Trifinity Partners, a third-party logistics firm, will occupy space at the distribution center located at 2431 Delany Road. HSA Commercial and Great Point Investors developed the 218,500-square-foot building. There is approximately 100,000 square feet of space still available at the facility, which features 30-foot clear heights, 14 truck docks, a drive-in door and 300 parking spaces. Tim Thompson of HSA Commercial represented the ownership in the transaction, and Tom Boyle and Jared Paff of Transwestern represented the tenant.

May 3, 2016

Illinois Loans Midwest Multifamily Seniors Housing

Capital Funding Group Provides $19.8M HUD Loan for Seniors Housing Community in Arlington Heights, Illinois

by Christina Cannon May 2, 2016

ARLINGTON HEIGHTS, ILL. — Capital Funding Group has provided a $19.8 million Section 232 HUD construction loan for Transitional Care of Arlington Heights. Transitional Care of Arlington Heights is a planned 120-bed skilled nursing facility in the northwest Chicago suburb of Arlington Heights. The loan, which will finance the construction of the community, has a 40-year term. Craig Casagrande of Baltimore-based Capital Funding Group originated the loan.

May 2, 2016

Illinois Midwest Multifamily

Interra Realty Brokers $2.5M Sale of 24-Unit Apartment Building in Chicago

by Christina Cannon April 29, 2016

CHICAGO — Interra Realty has brokered the $2.5 million sale of a multifamily property in Chicago’s Rogers Park neighborhood. The 24-unit property, located at 7526 N. Seeley Ave., features one- and two-bedroom units. Recent renovations include new porches, a new HVAC system, granite countertops, stainless steel appliances, hardwood floors and all new copper plumbing and electric wiring. A group of local investors sold the property to an undisclosed buyer. Interra Realty was the sole broker in the transaction.

April 29, 2016

Illinois Midwest Mixed-Use

CBRE Arranges $8.5M Sale of Three Mixed-Use Properties in Chicago

by Christina Cannon April 28, 2016

CHICAGO — CBRE has arranged the sale of three assets in Chicago in separate transactions totaling $8.5 million. New York-based Jenel Management Corp. purchased the mixed-use buildings and has plans to demolish all three properties and build a new retail and residential development. Joe and Annie Doppes sold a 9,885-square-foot property and a 4,800-square-foot lot at 1437-36 N. Wells St. The building was comprised of 5,660 square feet of commercial space and three residential units. Jenel also purchased a 5,000-square-foot retail property and 2,400-square-foot lot, located at 1435 N. Wells St., from Metro Park. The last property, situated at 1443 N. Wells St., is a 4,927-square-foot property with a 2,400-square-foot lot that was acquired from an undisclosed seller. Keely Polczynski, James Otto and Michael Gendell of CBRE brokered the transactions.

April 28, 2016

Healthcare Illinois Midwest

The Missner Group Completes Build-Out for Illinois Bone & Joint Institute

by Christina Cannon April 28, 2016

GLENVIEW, ILL. — The Missner Group has completed a medical office build-out for Illinois Bone & Joint Institute (IBJI) OrthoAccess. The property, located at 2401 Ravine Way in Glenview approximately 20 miles northwest of Chicago, is a walk-in clinic designed to treat sports injuries and minor auto accident injuries. The build-out included the addition of an entire floor of exam rooms, nursing stations and three waiting areas. The new space for IBJI also features an on-site X-ray suite and renovated reception area. Stephen Rankin Associates provided the architectural services for the project.

April 28, 2016

Illinois Midwest Retail

Sedgwick Properties Completes 43,000 SF LA Fitness in Chicago’s Gage Park

by Christina Cannon April 27, 2016

CHICAGO — Sedgwick Properties has completed the development of a 43,000-square-foot LA Fitness in Chicago’s Gage Park neighborhood. The building is located at 55th Street and Kedzie Avenue. Other retailers in the surrounding area include Walgreens, Wendy’s, Marquette Bank, Pete’s Fresh Market, T-Mobile, McDonald’s and a Bank of America branch. This LA Fitness facility features free weights, a cardio center, swimming pool, basketball court, fitness studios, indoor cycling, a childcare service and locker rooms with saunas and whirlpool spas. The project is located near the Chicago Transit Authority’s Orange Line and is the retailer’s 13th location in Chicago. Sedgwick served as the designer, developer and general contractor for the facility.

April 27, 2016

Illinois Industrial Midwest

Transwestern Brokers Acquisition of 52,962 SF Industrial Building in Chicago Suburb

by Christina Cannon April 27, 2016

HODGKINS, ILL. — Transwestern has brokered the acquisition of a 52,962-square-foot industrial building in Hodgkins, approximately 20 miles southwest of Chicago. Bear Real Estate LLC acquired the property, which is located at 7515 Santa Fe Drive, from Shamrock Real Estate LLC for an undisclosed amount. Event Equipment Sales, an affiliate of Bear Real Estate, will occupy the building. Built in 1998, the facility features 18-foot ceilings, four drive-in doors, two loading docks and parking for over 25 vehicles. Improvements to the facility are underway and include a new concrete floor, improved lighting system and updates to 8,100 square feet of office space. Jeff Locascio and Scott Mueller of Transwestern represented Bear Real Estate in the transaction.

April 27, 2016

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