CHICAGO — CBRE has arranged a 40,254-square-feet office lease for Harrison Street Real Estate Capital LLC, which will occupy a 52-story tower currently under construction in Chicago. Harrison Street will relocate its headquarters from 71 S. Wacker Drive to River Point, located at 444 W. Lake St. The developer, Ivanhoe Cambridge & Hines, will deliver the building in 2016. Harrison Street will nearly double its current footprint when it begins occupying the space in the first quarter of 2017. Cal Wessman and Mark Cassata of CBRE represented the tenant in the transaction. Greg Van Schaack and Laura Hines of Hines represented Ivanhoe Cambridge & Hines.
CHICAGO — CBRE has arranged a 6.1-acre land sale in Chicago. The site, located at 3440 N. Kedzie Ave., will be the location of a new 130,000-square-foot car dealership for Berman Automotive Group. A new and used car dealer, Berman Automotive plans to begin construction on the project in the spring of 2016. Mike Nardini of CBRE represented Berman Automotive Group in the purchase of the land, and Mitch Adams of CBRE represented the seller, Federal Mogul. The project will result in 70 permanent jobs, 250 temporary construction jobs and $3.67 million in property tax revenue, according to CBRE.
CHICAGO — Holliday Fenoglio Fowler (HFF) has arranged the $168.2 million sale of an office building in Chicago’s West Loop. 200 West Adams is a 32-story, LEED Gold-certified building that spans 683,730 square feet. Sterling Equities and Lincoln Property Co. sold the asset to Gerding Edlen. The buyer also secured a $133.9 million acquisition loan through AEW Capital Management LP. The floating-rate loan is for a period of three years. 200 West Adams is located at the northwest corner of Adams and Wells Streets and was built in 1985. The building is 91 percent occupied by tenants such as the Government Services Administration, BMO Harris Bank and law firm Lowis & Gellen. The retail space on the lobby level is leased to Starbucks, Walgreens and Au Bon Pain. Jeff Bramson and Jaime Fink of HFF represented the seller in the transaction. Tim Joyce of HFF originated the loan.
WAUKEGAN, ILL. — Berkadia has brokered the $7.4 million sale of a multifamily property in Waukegan, located about 47 miles north of Chicago. Westwood is a 132-unit apartment complex that was built in 1970 and is located at 2720-2732 Westwood Drive. The sales price reflects a price per unit of $56,061. Westwood was 95 percent occupied at the time of sale. The property features all two-bedroom floor plans. Community amenities include a playground, picnic area and laundry rooms in each building. VCP Westwood Apartments LLC sold the property to Haoyue Investments. Ralph DePasquale of Berkadia brokered the transaction.
ROMEOVILLE, ILL. — Morgan/Harbour Construction has broken ground on a 28,928-square-foot medical office building for Presence Health Group in Romeoville, approximately 30 miles southwest of Chicago. The Presence Senior Healing Arts Pavilion will be located at 500 S. Weber Road. The facility will include a full imaging suite with MRI, CT, X-ray, mammogram, ultrasound and bone density capabilities. The building will also feature 26 exam and procedure rooms, physical therapy training facilities, labs, treatment rooms, private offices and a cafe. Construction is slated for completion in summer 2016. Hammes Co. is the project manager, and Jensen & Halstead Ltd. will provide architectural services.
CHICAGO — Interra Realty has arranged the sale of two properties in Chicago for a total of $2.4 million in separate transactions. A 12-unit mixed-use property, located at 5355 W. Irving Park Road, sold for $1.5 million. Built in 1927, the property includes 10 two-bedroom/one-bathroom apartment units and two retail spaces leased to a barbershop and fitness studio. A 12-unit apartment building, located at 2854 N. Lowell Ave., sold for $975,000. Constructed in 1930, the building contains all one-bedroom units. Joe Smazal and James Clough of Interra represented both parties in the two transactions. Patrick Kennelly also assisted in brokering the sale of the property located at 2854 N. Lowell Ave. All parties in the transactions were undisclosed.
SCHAUMBURG, ILL. — The Boulder Group has arranged the sale of a single-tenant, net-leased retail property in Schaumburg for $2.2 million. The 4,500-square-foot building, located at 1430 E. Algonquin Road, is leased to Culver’s, a fast-casual restaurant chain, which has 15 years remaining on its lease. The property is positioned as an outparcel to an Aldi-anchored shopping center. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a Midwest-based developer. The buyer was a high-net-worth individual.
CHICAGO — Marcus & Millichap has brokered the sale of 7-Eleven Lincoln Park in Chicago. The 4,788-square-foot property sold for $1.4 million. The property is the retail component of a multi-story condo building that is located at 2020 N. Lincoln Park West Ave. Evan Lyons, George Ghattas and Kyle Stengle of Marcus & Millichap listed the property on behalf of the seller, a private investor. The buyer was undisclosed.
OSWEGO, ILL. — Senior Living Investment Brokerage Inc. (SLIB) has arranged the sale of The Tillers, a 106-bed skilled nursing facility in Oswego, approximately 50 miles southwest of Chicago, for $13.4 million. The community was built in 1972 and was 93 percent occupied at the time of sale. The Tillers was expanded in 1985 and 2008, and renovated in 2009. Symphony Post Acute Network purchased the property from a family-owned business looking to exit the long-term care industry. Symphony plans to further expand the facility. Ryan Saul of SLIB arranged the transaction.
NORTHBROOK, ILL. — Avison Young has brokered the sale of a 63,305-square-foot showroom and warehouse in Northbrook, approximately 25 miles northwest of Chicago. The asking price for the property was $4.6 million, but the final sales price was not disclosed. Underwriter Laboratories acquired the property located a 750 Anthony Trail from Damar Natural Stone, which previously occupied the building. The asset is situated on a 4.2-acre site in the Sky Harbor Industrial Park. The building includes 12,000 square feet of office space, 34-foot clear heights and 72-foot deep loading docks. Brett Kroner, Keith Puritz and Eric Fischer of Avison Young represented the seller in the transaction. Al Caruana and Britt Casey of Cushman & Wakefield represented the buyer.