Illinois

Sedgwick Properties Breaks Ground on 30-Unit Apartment Building in Chicago

by Christina Cannon November 13, 2015

CHICAGO — Sedgwick Properties has broken ground on a 30-unit luxury apartment building in Chicago’s Wicker Park neighborhood. The five-story building, located at 1545 W. North Ave., is slated for completion in spring 2016. The apartment building will offer one-, two- and three-bedroom units that will range from $1,900 to $4,000. Unit amenities include custom cabinetry, quartz countertops, tile backsplashes, washers and dryers and private balconies. Community amenities include valet dry cleaning service, bicycle storage and gated parking. The development will also include 2,600 square feet of retail space. The building will be located two blocks from the Kennedy Expressway and will be a short walk to the Chicago Transit Authority’s Blue Line. Sedgwick Properties will serve as the architect, designer, developer and general contractor for the project.

November 13, 2015

Illinois Midwest Mixed-Use

Mixed-Use Facility in Chicago Suburb Nears Full Occupancy

by Christina Cannon November 13, 2015

GLENVIEW, ILL. — Midtown Square, a mixed-use development in the northern Chicago suburb of Glenview, is 90 percent leased, according to High Street Residential, a subsidiary of Trammell Crow Co. Situated on 2.7 acres, Midtown Square opened in November 2014. The four-story building is comprised of 138 Class A luxury apartment units and approximately 9,000 square feet of retail space. CorePower Yoga opened for business in early 2015 and occupies 5,000 square feet of the ground-floor retail. The apartments are one- and two-bedroom units that feature balconies or patios, quartz countertops, 9-foot ceilings, gas ranges, washers and dryers, a breakfast bar and walk-in closets. Community amenities include a clubroom, wine room, dog wash station, business center, bicycle storage, heated garage parking, storage lockers and a 24-hour fitness center.

November 13, 2015

Illinois Midwest

Jameson Commercial Brokers $1.1M Sale of Gas Station in Chicago Suburb

by Christina Cannon November 13, 2015

LINCOLNWOOD, ILL. — Jameson Commercial Real Estate has brokered the sale of a former Mobil gas station in Lincolnwood, a northern suburb of Chicago. The property, located at 7169 N. Crawford Ave., currently has eight pumps and two service bays. The facility, which is situated on 15,198 square feet of land, sold for $1.1 million. Mark Kishtow and Mark Jones of Jameson Commercial represented the seller in the transaction, a long-time operator and owner of the former Mobil gas station who is retiring. The buyer is a local multi-unit gas station operator who plans to remodel and reopen the station. Mark Ahmad of Century 21 represented the buyer.

November 13, 2015

Illinois Industrial Midwest

Transwestern Arranges Sale of Six-Building Industrial Portfolio in Metro Chicago

by Christina Cannon November 12, 2015

CHICAGO — Transwestern has arranged the sale of a six-building industrial portfolio in metro Chicago. Chicago Properties LLC sold the portfolio to Clear Height Properties for an undisclosed amount. Transwestern represented Chicago Properties in the transaction. The portfolio includes 21 tenants across the six properties. Tenants include Pace Suburban Bus Service, Stanley Black & Decker, Veltri Inc., Claridge Products, Red Barcode Planet Inc. and ECL Products LLC. Properties in the portfolio include: A 31,726-square-foot, multi-tenant property at 600 Northgate Parkway in Wheeling, Ill. A 30,000-square-foot, single-tenant property at 3847 Exchange Ave. in Aurora, Ill. A 27,600-square-foot, multi-tenant property at 921-927 State St. in Elgin, Ill. A 22,644-square-foot, single-tenant property at 3121 Tollview Drive in Rolling Meadows, Ill. A 20,000-square-foot, multi-tenant property at 72-92 N. Lively Blvd. in Elk Grove Village, Ill. A 14,372-square-foot, multi-tenant property at 2130 Oxford Road in Des Plaines, Ill.

November 12, 2015

Illinois Midwest Retail

Novak Construction Co. Breaks Ground on Whole Foods Market in Chicago

by Christina Cannon November 12, 2015

CHICAGO — Novak Construction Co. has broken ground on a new Whole Foods Market in Chicago. The grocery store will be located at the intersection of Ashland, Belmont and Lincoln avenues. The store under construction at 3201 N. Ashland Ave. is replacing the existing Whole Foods Market, which is located at 3300 N. Ashland Ave. The new 70,000-square-foot store will feature a second-story balcony for outdoor dining and additional indoor dining space. Completion of the new Whole Foods Market is slated for spring 2017.

November 12, 2015

Illinois Midwest Multifamily

Steadfast Apartment REIT Acquires 374-Unit Apartment Complex in Chicago Suburb for $58.5M

by Christina Cannon November 11, 2015

BOLINGBROOK, ILL. — Steadfast Apartment REIT has acquired a 374-unit apartment community located in Bolingbrook, approximately 25 miles southwest of Chicago, for $58.5 million. A public, non-traded REIT, Steadfast purchased the property from Friedkin Real Estate and Jackson Square Properties. Meadows at River Run offers one-, two- and three-bedroom apartments ranging from 670 square feet to 1,262 square feet. The community was built in 2001, and unit amenities include washers and dryers, walk-in closets and fireplaces. Community amenities feature a swimming pool, fitness center, business center and pet park. The complex was 93 percent occupied at the time of sale. Steadfast plans to complete improvements including new lighting, plumbing, stainless steel appliances, faux wood blinds and upgraded countertops. Marty O’Connell of HFF represented the sellers in the transaction. Steadfast Apartment REIT was self-represented.

November 11, 2015

Illinois Loans Midwest Retail

KeyBank Secures $9M CMBS Loan for Retail Property in Rockford, Illinois

by Christina Cannon November 11, 2015

ROCKFORD, ILL. — KeyBank Real Estate Capital has secured a $9 million CMBS loan for a retail property in Rockford in northern Illinois. Rockford Crossing is 118,650 square feet and is shadow anchored by Target and ULTA Beauty. The center is currently 97 percent leased. Randy Martin of KeyBank secured the loan from a CMBS lender. The borrower in the transaction was undisclosed.

November 11, 2015

Illinois Midwest Multifamily

Interra Realty Arranges $1.8M Sale of Two Multifamily Properties in Chicago

by Christina Cannon November 11, 2015

CHICAGO — Interra Realty has arranged the sale of two multifamily properties in Chicago’s South Shore neighborhood for a total of $1.8 million. The two courtyard buildings were constructed in 1920 and are located at 7625-33 and 7635-43 S. East End Ave. The two properties have a total of 51 one-bedroom units and comprise 42,129 square feet. Both properties have received recent upgrades including new windows, porches and roofs. David Goss and Jon Morgan of Interra represented the undisclosed seller. Brad Feldman of Interra represented the undisclosed buyer in the transaction.

November 11, 2015

Illinois Midwest Retail

CBRE Brokers Sale of 16,625 SF Retail Center in Plainfield, Illinois

by Christina Cannon November 11, 2015

PLAINFIELD, ILL. — CBRE has brokered the sale of a 16,625-square-foot retail center in Plainfield, approximately 37 miles southwest of Chicago, for an undisclosed price. Old Second National Bank sold Founders Plaza to COROC Management Group LLC. Located at 24000 W. Dayfield Drive, Founders Plaza was 32 percent occupied at the time of sale. COROC Management Group plans to occupy 10,000 square feet for the operation of a day-care center starting in 2016. Nicholas Peters of CBRE represented Old Second National Bank in the transaction.

November 11, 2015

Illinois Midwest Multifamily

Sinatra & Co. Acquires 272-Unit Multifamily Property in Aurora, Illinois for $34.5M

by Christina Cannon November 10, 2015

AURORA, ILL. — Sinatra & Company Real Estate has acquired a 272-unit multifamily complex in Aurora as part of joint venture with Stadt Group and National Property REIT Corp. The purchase price was $34.5 million. The complex is located at 1240 W. Indian Trail Road in Aurora, approximately 40 miles west of Chicago. Orchard Village Apartments was built in 2000 and is situated on 17.3 acres. Community amenities include a clubhouse, fitness center and an outdoor swimming pool with sundeck. Unit amenities include private entrances, washers and dryers and vaulted ceilings. Peter Evans of Moran & Co. represented the seller, Sherman Residential. Anthony Licata and Pablo Petrozzi of Taft Stettinius & Hollister LLP represented the joint venture. Sinatra & Company Real Estate invests in distressed and value-add real estate opportunities. Stadt Group is a Chicago-based residential property management and acquisitions firm, and National Property REIT Corp. is a private real estate investment trust controlled by Prospect Capital Corp.

November 10, 2015

Newer Posts

Older Posts