CHICAGO — Marcus & Millichap has arranged the sale of a three-story apartment building with an adjacent buildable lot at 1656 W. Erie St. in Chicago. The six-unit asset sold for $1.2 million. Kyle Stengle and Joseph Bergman of Marcus & Millichap’s downtown Chicago office represented the seller, a private investor, and secured the buyer, a private investor, in the transaction.
CHICAGO — I.M. Construction Group (IMCG) has completed an office renovation at 1101 W. Monroe in Chicago for Belgravia Group Ltd. The project included the demolition and build-out of two floors with the addition of private offices, open workspaces, a design center and conference rooms with full-height glass doors. Additionally, IMCG constructed two breakrooms featuring quartz countertops and stainless steel appliances. Belgravia Group is relocating to the new office space from space in Chicago’s River North district. Bob Nomellini of IMCG led the construction team and Len Corso, also of IMCG, was the project superintendent. Hirsch Associates provided architectural services for the project.
RIVER FOREST, ILL. — Mid-America Asset Management Inc. has brokered a 28,220-square-foot retail lease at 7501 W. North Ave. in River Forest. Fresh Thyme Farmers Market, a natural grocer, will occupy the space, a former Dominick’s supermarket location. Mike George and Richard Spinell of Mid-America represented the landlord, while Andy Robbins and Al Rodenbostel of ARCORE Real Estate Group represented the tenant in the lease transaction.
BEDFORD PARK, ILL. — Developer Weglarz Co. and general contractor William A. Randolph have completed the development of Hyatt Place Hotel at Midway Airport in Bedford Park, a Chicago suburb. Located at 6500 Cicero Ave., the six-story property features 148 rooms, an indoor swimming pool, fitness center, putting green, bar/café, lounge and meeting room facilities. Legat Architects provided architectural design services and Tech 3 Consulting served as civil engineer for the project.
ELMWOOD PARK, ILL. — Marcus & Millichap has brokered the sale of an apartment building located at 2646-50 N. Harlem Ave. in Elmwood Park. The 12-unit property sold for $850,000. The property consists of two one-bedroom/one-bath units, two two-bedroom/one-bath units and eight two-bedroom/one-bath units. Andrean Angelov, Ryan Engle and Jordan Gilbert of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a private investor, and secured the buyer, a limited liability company, in the transaction.
CHICAGO — Chicago-based Amata Office Solutions has completed the renovation of its shared office/co-working center at 150 N. Michigan Ave. in Chicago’s East Loop. The renovation included the upgrades of 55 private offices and the reconfiguration of common areas to offer a greater variety of workspaces catering to the increasingly mobile workforce. The renovated center features modern lounges with breakout rooms, micro offices for short-term use and a separate workroom with unassigned seating for persons participating in Amata’s co-working program, which offers 24/7 access to all common areas and amenity spaces.
CHICAGO — Marcus & Millichap has arranged the sale of a mixed-use property located at 1606 N. Harding Ave. in Chicago. The 9,050-square-foot property sold for $830,000. The property consists of six two-bedroom and three one-bedroom apartment units, and two commercial spaces. Joseph Bergman and Kyle Stengle of Marcus & Millichap’s Chicago represented the seller, a private investor, in the transaction.
LANSING, ILL. — Marcus & Millichap has brokered the sale of Riverwood Apartment Homes, an apartment complex located at 3647 173rd Court in Lansing, a southern suburb of Chicago. The 354-unit asset sold for $23 million, or $65,000 per unit. Built in 1974, the property features six 48-unit mid-rise building and three two-story buildings totaling 66 units. On-site amenities include a clubhouse with party room, an outdoor pool with sun deck, a fitness center, basketball court, sport court, dog walk area, on-site laundry and on-site storage. Eric Bell of Marcus & Millichap’s Chicago O’Hare office represented the seller and buyer, both of which were not disclosed, in the transaction.
CHICAGO — Capital One has provided a $23.7 million fixed-rate, HUD 232/223(f) loan for the refinancing of a skilled nursing facility in Northern Illinois. Built in 1972, the property features 400 beds. Joshua Rosen of Capital One’s Chicago office originated the transaction.
WESTMONT AND HIGHLAND PARK, ILL. — Berkadia’s Chicago office has secured two loans, totaling $9.1 million, for two properties in Westmont and Highland Park. In Westmont, Bob Toland and Michael Slovitt of Berkadia arranged a $6.5 million loan for the acquisition of a two-tenant retail center, which is occupied by Hobby Lobby and Micro Center. Berkadia provided the 10-year loan through a life insurance company correspondent on behalf of the borrower, SCP Realty Fund II – Westmont LLC. In the second transaction, Aaron Abelson and Slovitt of Berkadia secured a $2.6 million loan to facilitate the acquisition of Fresenius Medical Care Highland Park, a dialysis treatment center in Highland Park. Berkadia arranged the 20-year loan through a life insurance company correspondent for the borrowers, Shepard-Warrenville I LLC and Shepard Warrenville II LCC.