CHICAGO — Prudential Real Estate Investors has acquired the Roosevelt Collection, a Class A mixed-use property in the South Loop of Chicago. Terms of the transaction were not disclosed. Located at 150 Roosevelt Road, the LEED-certified, mixed-use property includes two eight-story buildings with 326,098 square feet of retail space, 342 loft-style apartment units, and a three-level parking garage. (LEED stands for Leadership in Energy and Environmental Design, a standard developed by the U.S. Green Building Council.) The acquisition also includes an adjacent land lot that is part of a planned 400-unit, 43-story high-rise multifamily project. Retail components of the Roosevelt Collection feature a 16-screen Kerasotes ShowPlace ICON Movie Theatre, Container Store, lululemon and Banana Republic.
GRANITE CITY, ILL. — IMPACT Strategies has completed construction of the second phase of the federally funded Granite City Green Communities in Granite City, about 10 miles northeast of St. Louis. IMPACT Strategies constructed 20 new units within six buildings for a total of 63 units at the development. Granite City Green’s design and construction are focused on sustainable and energy-efficient criteria. The project incorporates the use of solar panel and bioretention rain gardens in an effort to maximize the development’s environmental impact and performance. The Granite City Housing Authority hired Impact Strategies to lead construction of the project, which began last August and wrapped up at the end of July The first phase of Granite City Green was developed in 2012. Farr Associates, a sustainable architecture and urban planning firm in Chicago, designed the project.
LANSING, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 47,158-square-foot multi-tenant retail center for $2.9 million located at 17030 S. Torrence Ave. in Lansing, about 27 miles south of Chicago. A Dollar General anchors the property. The retail center was 75 percent occupied at the time of sale. A local real estate investor based in Schaumburg, Ill., sold the property. The buyer was a private real estate investor based in Milwaukee. Chad Firsel and Daniel Waszak of Quantum were the sole brokers in the transaction.
CHICAGO — Hyatt Centric The Loop Chicago, located downtown at 100 W. Monroe St., celebrated its grand opening on Thursday, July 30. The 22-story historic building was originally constructed in 1927. Hyatt Centric The Loop Chicago features 257 guestrooms, 2,500 square feet of meeting space, a 24-hour fitness center, rooftop bar and a French bistro restaurant. Located in the Loop district, the hotel puts guests near many external attractions such as Millennium Park, Navy Pier and The Art Institute of Chicago. Integrated Clark Monroe LLC owns Hyatt Centric The Loop Chicago, which is operated by Interstate Hotels & Resorts.
LIBERTYVILLE, ILL. — I.M. Construction Group (IMCG) has completed the construction of a 7,500-square-foot, single-story building for the Illinois Bone & Joint Institute (IBJI) located at 724 Florsheim Drive in Libertyville, a northern suburb of Chicago. Construction included the demolition of the existing interior and the build-out of new medical office space with therapy areas and exam rooms. IBJI is relocating its physical and occupational therapy space to the new building from an adjacent location at 720 Florsheim Drive, where it will also continue to maintain operations. Brubaker Architects provided architectural services for the project.
CHICAGO — J.C. Anderson Inc. has been selected to complete a 9,000-square-foot build-out to DePaul University’s Chartwells Cafeteria on the Loop Campus located at 1 E. Jackson St. Renovations on the 11th floor cafeteria space include an all new dining area, new equipment and food prep stations. Construction is scheduled for completion in September. Nvironment Architecture is providing the architectural services. Katrina Latendorf from DePaul University is coordinating construction management responsibilities.
CHICAGO —Marcus & Millichap brokered the sale of a 4,050-square-foot plot located in Lincoln Park at 738 W. Schubert Ave. in Chicago. The property sold for nearly $1.1 million. The lot is 25 feet wide by 162 feet deep and has RT-4 zoning (three flat, townhouses). The buyer plans on demolishing a vacant building currently on the land. Kyle Stengle of Marcus & Millichap’s Chicago office had the listing to market the property on behalf of the seller, a private investor. Stengle also secured the buyer, a local developer.
ELMHURST, ILL. — Marcus & Millichap has brokered the sale of a net-leased 6,780-square-foot medical facility in Elmhurst, approximately 20 miles west of Chicago. Elmhurst Memorial Medical sold for $1.98 million, 97 percent of its original listing price, and is located at 429 N. York St. The recent merger of Elmhurst Memorial Healthcare and Edward Hospital & Health Services created one of Illinois’ largest integrated health systems with 50 locations. Combined, the health system’s total revenue equals $1 billion. In addition to the 50 locations, Elmhurst Medical has three hospitals, 7,700 employees and 1,680 staff physicians. Austin Weisenbeck, Sean Sharko and Adrian Mendoza of Marcus & Millichap’s Chicago office had the exclusive listing to market the property on behalf of the seller, a developer. The buyer, a private South Dakota-based investor, was also secured by Sharko, Weisenbeck and Mendoza.
PEORIA, ILL. — Healthcare real estate firm Caddis has partnered with Pathway Senior Living LLC to develop a senior living community in Peoria. Heartis Peoria will be a 94-unit assisted living and memory care facility encompassing 97,000 square feet. Among the amenities at Heartis Peoria will be two interior courtyards, a large dining room and private dining room, an arts and crafts room and a media room. Construction is slated for completion in the fall of 2016. Caddis will own the property and Pathway Senior Living will manage the facility. The architect for the project is Austin, Texas-based KATUS, and the general contractor is McShane Construction Co. LLC, which is headquartered in Rosemont, Ill. Bank of Texas is providing construction financing.
ADDISON, ILL. — Marcus & Millichap has brokered the sale of Alexian Brothers Health System, an 11,200-square-foot, net-leased medical center located at 1339 W. Lake St. in Addison, approximately 22 miles west of Chicago. The asset sold for $3 million. The medical center is open 24 hours and is a full-service facility providing immediate medical care, diagnostic imaging and an array of other services. The facility includes a large assortment of imaging equipment. Sean Sharko, Valerie Cook and Austin Weisenbeck of Marcus & Millichap’s Oakbrook office marketed the property on behalf of the seller, a limited liability company. Sharko and Weisenbeck also represented the buyer, a limited liability company.