CHICAGO —TSP Value and Income Fund, a subset of Transwestern Investment Group, has purchased a five-property, industrial portfolio in the Chicago area for an undisclosed price. The portfolio, which is fully occupied, totals 1.4 million square feet. The properties include 3800 Sunset Ave. in Waukegan; 301-363 N. Third Ave. in Des Plaines; 5300 Proviso Drive in Melrose Park; 7400 Richards Road in Bridgeview; and 5100 W. 123rd St. in Alsip. The properties have clear heights ranging from 21 feet to 30 feet and all have some percentage of office finish. The portfolio features eight tenants including Dulin Metals Co., Permasteelisa North America, Midland Paper Co., Keystone Automotive Industries and Cornfields Inc. Christopher Carroll and Brian Carlton of HFF placed a five-year, fixed-rate acquisition loan for the portfolio with a life company.
ADDISON, ILL. — Transwestern has brokered the sale of a 40,000-square-foot industrial property in Addison, approximately 25 miles west of Chicago. Venture One Real Estate purchased the property, located at 120 Fairbank St., from a private seller for an undisclosed price. The facility, built in 1979, features six exterior docks, three drive-in doors and 1,500 square feet of office space. Justin Lerner and Joe Karmin of Transwestern represented the seller in the transaction.
HOMEWOOD, ILL. — ALTO Fund II, a New York-based real estate investment fund, in a joint venture with Besyata Investment Group, has acquired a 235,000-square-foot shopping center in Homewood, approximately 30 miles south of Chicago, for $32 million. Washington Park Plaza is 95 percent occupied and tenants include Starbucks, TJ Maxx, Ross Dress for Less, Petco and Party City. The seller in the transaction was undisclosed.
ROMEOVILLE, ILL. — The Boulder Group has brokered the sale of a three-tenant, net-leased shopping center in Romeoville, approximately 40 miles southwest of Chicago, for $4.2 million. The property is located at 253 S. Weber Road, and tenants include Chipotle, Dunkin’ Donuts and Sleepy’s. Target and Kohl’s shadow anchor the center, which was built in 2014. The buyer was a Northeast-based real estate investment company in a 1031 exchange transaction. The seller was a Midwest real estate company. Dunkin’ Donuts and Chipotle have approximately eight years remaining on their lease, and Sleepy’s has six years remaining on its lease.
CHANNAHON, ILL. — IDI Gazeley has broken ground on a 749,554-square-foot speculative industrial building in Channahon, approximately 55 miles southwest of Chicago. The facility is the first of four buildings to be constructed at the Channahon Corporate Center, a 100-acre, master-planned industrial and logistics park that will offer approximately 2 million square feet of space once complete. The first building, located at 23700 W. Bluff Road, is scheduled for completion in the first quarter of 2017. The facility will be expandable to 1.3 million square feet and will include amenities such as 36-foot clear heights, 86 loading docks, 440 parking spaces and 192 trailer spaces.
CHICAGO — Cenveo Corp., a paper products company, has sold two industrial buildings located in Chicago in a sale-leaseback transaction for an undisclosed price. An affiliate of Hackman Capital Partners LLC acquired the facilities, which total 195,436 square feet. The adjacent property consists of a 150,084-square-foot manufacturing facility at 3001 N. Rockwell St. and a 45,351-square-foot warehouse and distribution building at 2950 N. Campbell Ave.
SOUTH ELGIN, JONESBORO AND MACOMB, ILL. — Pillar has originated $9.9 million in loans to refinance three skilled nursing facilities in Illinois. The three loans consist of $5.4 million for an 80-unit property in South Elgin, $2.3 million for a 76-unit property in Jonesboro and $2.2 million for a 56-unit property in Macomb. Petersen Health Care, one of the largest seniors housing owner-operators in the state, was the borrower. The names of the specific facilities were not disclosed. All three HUD-insured loans feature a fixed rate, 30-year term and 30-year amortization schedule. Evan Hom of Pillar’s New York office originated the loans.
TINLEY PARK, ILL. — Anthem Memory Care has opened its ninth community, Porter Place, in Tinley Park, approximately 30 miles southwest of Chicago. Development costs were estimated at $12.5 million for the 82-bed memory care community. LTC Properties Inc., a real estate investment trust that primarily invests in seniors housing and healthcare properties, financed the development and construction. CB Two Architects designed the community. Adair Group and Pickus Construction served as general contractors. Woolpert Inc. handled civil engineering services.
GRAYSLAKE, ILL. — Principle Construction Corp. has completed two industrial buildings for Saia LTL Freight. The buildings, located at 2260 S. Midlothian Road in Grayslake, will serve as administrative, maintenance and operations space for Saia. The two buildings are situated on 33 acres and total 70,000 square feet. Amenities at the property include 16-foot clear heights, over 100 docks and a fueling facility with 12 service bays and two wash bays. The project also features parking for 94 automobiles, 294 trailers, 34 tractors and 30 dollies. Larry L. Christian Architects designed the project, and Cushman & Wakefield represented Saia.
ROMEOVILLE, WOODRIDGE AND NEW LENOX, ILL. — Englewood Construction has broken ground on three projects in Chicago’s west and southwest suburbs. The developments include the ground-up construction of the Chicago area’s first Blain’s Farm & Fleet in Romeoville, the renovation of a Sam’s Club in Woodridge and the interior remodeling of an AMC Theatre in New Lenox. In the first project, Englewood is constructing a 120,690-square-foot Blain’s Farm & Fleet at 451 S. Weber Road in Romeoville. Set to open this fall, the project will be the sporting goods retailer’s 37th location. Charlotte, N.C.-based Little Diversified Architectural Consulting is the project architect. In the second project, the renovated AMC Theatre at 1320 Maple St. in New Lenox is scheduled to open late this summer. The installation of recliners is part of Englewood’s interior remodeling of the venue’s 14 auditoriums. The 51,269-square-foot project also includes renovations to the box office, guest services area, lobby, concessions and restrooms. Kansas City, Mo.-based Lickel Architecture is the project architect. In the third project, Englewood is remodeling the interior of the 139,325-square-foot Sam’s Club at 7300 Woodward Ave. in Woodridge for national client Wal-mart Stores Inc. The project is scheduled for completion in late July. …