LINCOLNWOOD AND CHICAGO, ILL. — Baum Realty Group LLC has brokered the sale of three Chicagoland properties for $49.5 million. In the first deal, Baum Realty represented an undisclosed seller in the disposition of a 45,000-square-foot retail center anchored by CVS. The property is located at 7175 N. Lincoln Ave. in Lincolnwood and sold for $9.8 million. In the second transaction, Baum Realty represented the buyer of a 90,000-square-foot mixed-use property in Chicago. Located at 3115 N. Broadway, the facility consists of ground-floor retail and a four-level parking garage. The buyer plans to convert the property, acquired for $5.7 million, for multifamily use. Lux24 is a 73-unit apartment tower in Chicago’s West Loop that sold for $34 million. Baum Realty brokered the off-market transaction of the 66,000-square-foot property. Danny Spitz and Greg Dietz of Baum Realty brokered all three transactions.
CHICAGO — Marcus & Millichap has arranged the sale of a four-unit apartment property in Chicago for $1 million. A local partnership purchased the asset, located at 2014 W. Cortez St. in the Ukrainian Village historic district, from another undisclosed partnership. The property consists of a two-bedroom/two-bathroom duplex unit, a top floor three-bedroom/two-bathroom unit and two separate two-bedroom/one-bathroom units. Kyle Stengle and Joseph Bergman of Marcus & Millichap listed the property on behalf of the seller and secured the buyer.
CHICAGO — Cushman & Wakefield has arranged the sale of two newly renovated industrial properties along Chicago’s I-55 corridor for $14.3 million. 51st Holdings LLC purchased the assets, which total 391,483 square feet, from Venture One Real Estate LLC. Venture One acquired the properties in 2014 and completed a renovation that included restored roofs, facade improvements, updated loading docks, revamped office space, lighting and electrical upgrades, and interior and exterior painting. 6500 West 51st St. was vacant at the time of sale, while 6400 West 51st St. was fully occupied by NADC Group, a logistics and supply chain management firm. Larry Goldwasser, Sally Macoicz, Colin Green and Michael George of Cushman & Wakefield represented both parties in the transaction.
ST. CHARLES, ILL. — Adelphia Properties has brokered the sale of a 4,350-square-foot retail building net leased to Gabby’s Kitchen for an undisclosed price. Geneva State Bank sold the property to a local independent restaurant operator. The second-generation freestanding building was built in 2010 and is located at 1650 W. Main St. in St. Charles, approximately 45 miles west of Chicago. George Spirrison and Simeon Spirrison of Adelphia Properties represented both parties in the transaction.
LAKE FOREST, ILL. — Colliers International has arranged a 7,811-square-foot office lease in Lake Forest, approximately 35 miles northwest of Chicago. LifeWorking Enterprises signed a long-term lease for space at 717 N. Forest Ave. LifeWorking Enterprises will create a network of productivity and collaboration spaces in Chicago and its suburbs. The Lake Forest property is the venture’s first location. The mixed-use building is located in Lake Forest’s historic Market Square and consists of a two-story building with ground-floor retail. Dougal Jeppe of Colliers represented LikeWorking Enterprises in the transaction, and Chris Cummins and Jonathon Connor of Colliers represented the property owner, L3 Capital.
SAN ANTONIO AND CHICAGO — San Antonio-based USAA Real Estate Co. and HSA PrimeCare, a division of Chicago-based HSA Commercial Real Estate, have formed a joint venture to acquire and develop outpatient healthcare real estate assets across the Midwest. Along with the announcement, the joint venture also made its first acquisition, a 97,375-square-foot portfolio, for an undisclosed price. The three-property portfolio consists of the Advocate Christ Outpatient Center in Tinley Park, Ill., the Coffee Creek Medical Office Building in Chesterton, Ind. and the APAC Medical Plaza in Crown Point, Ind. The joint venture will acquire an array of medical buildings such as medical office buildings, cancer centers, ambulatory surgery centers, medical wellness centers and other specialty centers. HSA PrimeCare will provide investment analysis, development, leasing and property management services to the partnership.
LOCKPORT, ILL. — RJW Logistics has signed a 512,265-square-foot lease for a distribution facility in Lockport, approximately 35 miles southwest of Chicago. ML Realty Partners LLC owns the building located within the Heritage Crossing Corporate Center, a 228-acre business park. The facility is located at 14908 S. Gougar Road and features 32-foot clear heights. There are a total of 12 buildings planned for the Heritage Crossing Corporate Center. Dan Leahy, Mark Moran and John Whitehead of NAI Hiffman represented ML Realty Partners in the transaction. Dominic Carbonari of JLL represented RJW Logistics.
NORTHBROOK AND BARTLETT, ILL. — Brown Commercial Group has brokered the sale of two industrial buildings. In the first transaction, Bill’s Plumbing acquired a 17,290-square-foot building located at 1855 Holste Road in Northbrook, approximately 25 miles northwest of Chicago. The plumber is expanding from a 2,600-square-foot space in Skokie. Trinity Scurto of Brown Commercial represented the buyer, and Juanita Song of Coldwell Banker represented the seller. In the second deal, Care Investments LLC sold a 2,642-square-foot industrial facility to an undisclosed buyer. The building is located at 1292 Humbracht Circle in Bartlett, approximately 35 miles west of Chicago. Brian Lindgren and Dan Brown of Elk Grove, Ill.-based Brown Commercial represented the seller, and Dan Smolensky of Taurus Modal Group represented the buyer. Financial terms of the transactions were not disclosed.
CHICAGO — SVN | Chicago Commercial has brokered the sale of a 32-unit multifamily building in the Uptown neighborhood of Chicago for $5.1 million. Kam Ying Lee sold the asset, located at 5022-30 N. Winthrop Ave., to a private partnership. The 32,000-square-foot building, constructed in 1913, features all two-bedroom units. Units include stainless steel appliances and washers and dryers. Dawn Overstreet of SVN | Chicago Commercial was the sole broker in the transaction.
CHICAGO — PREMIER Design + Build LLC has completed Phase II of the Chicago Innovation Exchange. The project consisted of renovating the core and shell of the Doerr Building, which houses high-tech facilities for the Chicago Innovation Exchange, an innovation hub for the University of Chicago and other startup companies. The new space features a digital fabrication lab, co-working spaces, new offices and conference rooms. Built Form LLC and Beyer Blinder Belle provided architectural services for the project. TGRWA LLC and Advance Consulting Group International Inc. provided engineering services.