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.
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.
PROSPECT HEIGHTS AND BURR RIDGE, ILL. — Brookdale Senior Living will undertake a $4 million memory care conversion at its communities in the Chicago suburbs of Prospect Heights and Burr Ridge. The projects are part of a capital investment and community management joint venture between Brookdale and HCP, a large healthcare REIT. At both Brookdale Prospect Heights and Brookdale Burr Ridge, 26 existing assisted living apartments will be converted to memory care. Both communities offer skilled nursing in addition to the assisted living and memory care options.
NILES, ILL. — Molto Properties has acquired an industrial property in Niles, approximately 15 miles northwest of Chicago, for an undisclosed price. The facility, located at 7720 Lehigh Ave., is situated on eight acres and was built in 1954. MFRI Inc. was the seller. Molto plans to redevelop the existing site into a 136,650-square-foot, Class A distribution center. The property will feature 32-foot clear heights, 150 car parking spaces and 20 dock doors. The redevelopment is slated for completion by the end of the year.
CHICAGO — Brown Commercial Group has brokered the sale of two industrial meat processing facilities totaling 96,330 square feet in Chicago. Bobak Sausage Co., a global manufacturer and distributer of old-world sausages and deli meat, sold the properties for an undisclosed price. The deal includes a 43,382-square-foot building at 5275 S. Archer Ave. and a 52,948-square-foot building at 4630 W. 53rd St. El Cubano Wholesale Meat Inc., a meat packer and distributor that provides meats to restaurants and grocery stores, is the buyer. Dan Brown, Brian Lindgren and Maria McNeil of Brown Commercial represented the seller in the transaction. Ed Wabick, Jimena Sayavedra and Terry Lynch of Paine/Wetzel TCN Worldwide represented the buyer.
CHICAGO — Essex Realty Group Inc. has brokered the $2.7 million sale of a mixed-use building in Chicago’s Sheridan Park neighborhood. The buyer and seller in the transaction were undisclosed. The building, located at 4401 N. Clark St., is comprised of 12 apartment units and two street-level retail spaces. The units are a mixture of two- and three-bedroom units. Jim Darrow, Jordan Gottlieb, Doug Imber and Kate Varde of Essex brokered the transaction.
WILMINGTON, ILL. — Batory Foods will purchase a 678,000-square-foot industrial property at RidgePort Logistics Center in Wilmington, approximately 60 miles southwest of Chicago, for an undisclosed price. The building is a build-to-suit for Batory Foods and will be situated on 36 acres with the ability to expand an additional 22 acres. Construction on the distribution facility will begin this month, and Batory Foods is expected to begin occupying the space this October. The facility will feature an automatic gate system, an employee walking track and other outdoor amenities. Harris Architects Inc. is providing the architectural services, and Alston Construction is the general contractor. Ridge Development is the project developer. Newmark Grubb Knight Frank (NGKF) represented Batory Foods in the transaction.
CHICAGO — U.S. Cellular Corp. has extended and expanded its headquarters lease at the U.S. Cellular Plaza and now occupies 331,797 square feet of space. U.S. Cellular Corp. is the building’s largest tenant. FCA Partners LLC owns the building, which is located at 8410-8420 Bryn Mawr Ave. Constructed in 1981, U.S. Cellular Plaza is a three-building, 637,484-square-foot Class A office complex. U.S. Cellular signed its original lease in 1988 for just under 10,000 square feet. U.S. Cellular continues to occupy the entire 212,428-square-foot 8410 building and will now be expanding into an additional 119,369 square feet in the 8420 building on a long-term basis. Francis Prock and Jason Simon of Colliers International represented the landlord in the transaction.
ADDISON, ILL. — Turtle Wax Inc. will relocate its world headquarters from Willowbrook, Ill. to a 25,115-square-foot space in Addison, approximately 23 miles west of Chicago. Turtle Wax, a manufacturer of car care products, will occupy space at Meadows Office Center II, a two-story, 101,000-square-foot office building. The lease brings the facility, located at 2250 Pinehurst Blvd., to 70 percent occupancy. The asset is owned by a joint venture comprised of ACG Equities, Toft Asset Management and an undisclosed private investment fund. Daniel Nack of Cushman & Wakefield represented Turtle Wax in the transaction. Mark Smith and Bill Saviski of CBRE represented the landlord.
DOWNERS GROVE, ILL. — FM Capital has acquired a $5.7 million non-performing loan that is secured by a 37,780-square-foot medical property in Downers Grove, approximately 22 miles west of Chicago. The loan went into default when the borrower failed to make payments last summer. The Greenbriar Medical Office Building was constructed in 1972 and renovated in 2006. The property also includes a 125-space parking lot, conference facility and recently renovated common area. The property is currently 70 percent vacant.