Illinois

The Missner Group to Complete Build-Out of Medical Office Property in Chicago Suburb

by Christina Cannon January 21, 2016

GLENVIEW, ILL. — The Missner Group will complete a build-out of a medical office property for the Illinois Bone & Joint Institute (IBJI) in Glenview, approximately 20 miles northwest of Chicago. IBJI’s OrthoAccess facility is located at 2401 Ravine Way and treats fractures, sprains, sports injuries and problems from minor auto accidents. New construction on the existing building will include the addition of an entire floor of exam rooms, nursing stations, three waiting areas, an updated reception area and an X-ray suite. The project is scheduled for completion in this spring. Stephen Rankin Associates is providing the architectural services.

January 21, 2016

Illinois Midwest Multifamily

High Street Residential, The Carlyle Group Sell 115-Unit Apartment Community in Chicago Suburb

by Christina Cannon January 20, 2016

PARK RIDGE, ILL. — A joint venture consisting of High Street Residential and The Carlyle Group has sold a 115-unit apartment community to L&B Realty Advisors LLC for an undisclosed price. Park 205 is a three-story, Class A apartment community located in Park Ridge, a northwestern suburb of Chicago. ESG Architects designed Park 205, which was completed in the last quarter of 2015. The project offers one-, two- and three-bedroom units. Amenities include a pool and sun deck, outdoor fire pits and cabanas, a clubroom, Wi-Fi coffee lounge, fitness center, business center, dog spa, bicycle storage and covered and heated parking. The community also has the LEED Silver designation. John Jaeger of CBRE represented the joint venture in the transaction.

January 20, 2016

Illinois Industrial Midwest

CBRE Brokers Sale of 174,400 SF Industrial Facility in West Chicago

by Christina Cannon January 19, 2016

WEST CHICAGO, ILL. — CBRE has brokered the purchase of a 174,400-square-foot industrial facility in West Chicago, approximately 35 miles west of downtown, for an undisclosed price. Simpson Manufacturing purchased the new facility from CenterPoint Properties. Simpson Manufacturing will relocate to the facility at 2505 Enterprise Drive from its current 50,000-square-foot space in Addison. David Prell, Tyson Vallenari and Cal Payne of CBRE represented the buyer in the transaction. Britt Casey of Cushman & Wakefield represented CenterPoint Properties.

January 19, 2016

Healthcare Illinois Midwest

Marcus & Millichap Brokers Sale of 48,225 SF Medical Property in Rockford, Illinois

by Christina Cannon January 19, 2016

ROCKFORD, ILL. — Marcus & Millichap has brokered the sale of a property net leased to OSF Healthcare | Cardiovascular Institute in Rockford. The 48,225-square-foot asset sold for an undisclosed price. A joint venture fund managed by MBRE Healthcare purchased the facility located at 444 Roxbury Road. The building, which was constructed in 2007, is fully leased to OSF HealthCare System. Gino Lollio and Scott Niedergang of Marcus & Millichap listed the property on behalf of the seller. The duo also procured the buyer.

January 19, 2016

Illinois Midwest Retail

Baceline Investments Acquires 15,464 SF Shopping Center in Chicago Suburb

by Christina Cannon January 19, 2016

LISLE, ILL. — Baceline Investments LLC has acquired a 15,464-square-foot retail property in Lisle, approximately 20 miles west of Chicago, for an undisclosed price. Century Plaza was built in 2002 and is located at 2801 Ogden Ave. The shopping center consists of 10 stores including Dunkin’ Donuts, Jimmy John’s and Domino’s. The seller in the transaction was undisclosed. Denver-based Baceline Investments is a privately held boutique real estate investment and management company that specializes in the acquisition, management and sale of necessity-based shopping centers in the Midwest.

January 19, 2016

Illinois Midwest Retail

Mid-America Brokers $18.2M Sale of Retail Property in Chicago Suburb

by Christina Cannon January 18, 2016

OAK BROOK, ILL. Mid-America Real Estate Corp. has brokered the sale of a 67,143-square-foot retail property in Oak Brook, approximately 20 miles west of Chicago. Newport Capital Partners acquired The Oaks of Oak Brook on behalf of Newport Fund II for $18.2 million. The retail property is located at the intersection of Kingery Highway and 16th Street and features tenants such as Panera Bread, Atheltico, Wells Fargo and Sleepy’s. Joe Girardi and Ben Wineman of Mid-America represented the seller in the transaction, a joint venture between DLC Management and Hutensky Capital Partners.

January 18, 2016

Illinois Loans Midwest

RealtyMogual.com Arranges $16.8M Bridge Loan for Office Property in Chicago Suburb

by Christina Cannon January 18, 2016

ROLLING MEADOWS, ILL. — RealtyMogul.com has arranged a $16.8 million bridge loan and $1.5 million preferred equity investment for the acquisition of an office building in Rolling Meadows, approximately 30 miles northwest of Chicago. The facility is a non-recourse loan with proceeds being used to purchase the property and provide a facility for leasing costs. The combined terms of the debt and preferred equity offered the sponsor 81 percent of project costs. The sponsor is Schaumburg-based Helios Properties. 1600 Corporate Center is a 255,440-sqaure-foot, Class A facility that houses multiple tenants. The 12-story building is located close to Woodfield Mall. The sponsor plans to add a conference room and a gym. The building is currently 91 percent occupied with tenants suck as Bank of America, Alliant Credit Union, Fleetmatics and Regus.

January 18, 2016

Illinois Midwest Retail

Baum Realty Brokers $14.6M Sale of Retail Portfolio in Chicago

by Christina Cannon January 18, 2016

CHICAGO — Baum Realty Group LLC has brokered the sale of The Armitage Collection in Chicago for $14.6 million. The Armitage Collection is a 32,604-square-foot retail portfolio that is located at 1123 – 1133 W. Armitage Ave. The portfolio is 100 percent leased to five tenants and consists of four, two-story buildings. Greg Dietz and Danny Spitz of Baum Realty represented the private seller in the transaction. The buyer was undisclosed.

January 18, 2016

Illinois Midwest Multifamily Seniors Housing

William A. Randolph Breaks Ground on 100-Unit Seniors Housing Community in Chicago Suburb

by Christina Cannon January 18, 2016

LONG GROVE, ILL. — William A. Randolph Inc. has broken ground on Long Grove Senior Care, a project in Long Grove, approximately 35 miles northwest of Chicago. GART Partners selected William A. Randolph Inc. to serve as the general contractor for the two-story, 100-unit senior living community, which includes assisted living and memory care. The project will be situated on 10 acres and will feature a bistro, a pub and billiards room, outdoor patios, walking paths, gardens, a theater and a greenhouse.

January 18, 2016

Illinois Industrial Midwest

Ryan Cos. Completes 246,457 SF Industrial Project for Molto Properties in Elgin, Illinois

by Christina Cannon January 15, 2016

ELGIN, Ill. – Ryan Cos. has completed the construction of a 246,457-square-foot industrial project in Elgin, approximately 40 miles northwest of Chicago. The development, located at 2770 Alft Court within the Randall Crossings Business Park, was constructed on behalf of Molto Properties. Ryan Cos. has owned the master-planned, 70-acre Randall Crossings Business Park since 2005. The facility for Molto Properties is situated on a 13.5-acre site and features 50-foot bays, a 60-foot speed bay, 32-foot clear heights, 40 truck docks, four drive-in doors, parking for 188 vehicles and office space to-suit. Construction on the building began in the spring of 2015. With completion of this building, Randall Crossings Business Park includes more than 1 million square feet of space. There is still a 5.7-acre land parcel remaining for development.

January 15, 2016

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