ROUND LAKE BEACH, ILL. — Lee & Associates has arranged the $12.7 million sale and purchase of an 87,000-square-foot Kohl’s store located at 230 E. Rollins in Round Lake Beach. Al Apuzzo of Lee & Associates – North San Diego County represented the buyer, Nipoti LLC, which purchased the property as part of a 1031 exchange. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County, and founders of Barr & Bennett Net Leased Investment Group, represented the seller, Cadillac-Sand Realty LLC. The buyer plans to hold the property indefinitely. Kohl’s has more than 10 years left on its lease.
EVANSTON, ILL. — The Dow Hotel Co. (DHC) has completed the $8.6 million renovation of the 269-room, Hilton Orrington/Evanston. The hotel is located at 1710 Orrington Ave., just north of Chicago in the North Shore district. All guest rooms and baths were completely renovated to include new carpeting, televisions, furniture, lighting, beds, bedding, showers and tiling. The hotel’s 12,000-square-foot conference center, as well as its additional 20,000 square feet of meeting space, which includes the famous Grand Orrington Ballroom, were also upgraded with new furniture, art and carpeting. The hotel public space also was reconfigured to create new private dining areas as well as new carpeting and lighting. DHC and The Carlyle Group’s Carlyle Realty Partners VI own the hotel. DHC will also operate the property. DHC is a hotel owner/investor and operator.
CHICAGO — Marcus & Millichap has arranged the $3.6 million sale of 1400 S. Michigan Ave., an 8,260-square-foot retail property in Chicago. The property sold at 92 percent of its original list price. Located in Chicago’s South Loop, the multitenant retail property is situated on the ground floor of a 455-unit luxury condominium tower. Tenants at the property include Waffles Chicago, Square One Bar and Sanctuary Music & Aesthetics audio design solutions. Sean Sharko, Alan Katamanin and Austin Weisenbeck of Marcus & Millichap’s Chicago Oak Brook office represented the seller and the buyer, both limited liability companies.
CHICAGO — @properties Commercial has brokered the $4.6 million sale of a three-story property at 630 W. Lake St., in Chicago’s West Loop neighborhood. Located on the northeast corner of Lake and Des Plaines streets, the property features a 12,000-square-foot timber loft building including a basement, a 6,500-square-foot one-story warehouse annex and a 1,500-square-foot parking lot. Grand Stage Lighting Co. currently occupies the property, but is in the process of relocating. Chicago-based Windy City RE LLC purchased the property and plans to redevelop it into a mixed-use residential and retail building. Michael Weber and Ian Feinerman of @properties Commercial represented the seller, Tybec LLC.
CHICAGO — Reed Construction has completed two build-outs at 303 E. Wacker Drive for Chicago Venture Partners (CVP) and Smithfield Foods. In the first build-out, CVP, a private equity investment firm, relocated its offices from the 12th floor to the 10th floor of this property. Reed Construction completed the 12,000-square-foot renovation, which included the addition of new open office areas with exposed painted deck ceilings, large meeting rooms, a break room and lounge area. In the Smithfield Foods build-out, the food company is relocating its Chicago offices to the 28-story East Loop property from its previous location at 111 E. Wacker Drive. Reed Construction completed the 6,000-square-foot renovation, which included adding new open office areas, large meeting rooms and perimeter offices. Reed Construction’s Jack Hennessy was the project executive and Jon Zawiski was the project manager for the projects. Eastlake Studio provided architectural services. Hines represented building ownership for both projects.
BEDFORD PARK, ILL. — Paine/Wetzel TCN Worldwide has arranged a 17,000-square-foot industrial lease in Bedford Park, a suburb of Chicago. Midway Window and Door will occupy space located at 5123 W. 65th St. The door and window manufacturer recently expanded into this second Bedford Park location. Midway Window and Door selected the location for its proximity to its main plant located at 6750 S. Belt Circle Road in Bedford Park. Bill Kerrins of Paine/Wetzel represented the tenant. Mumford Property, the building’s landlord, was self-represented.
BUFFALO GROVE, ILL. — Molto Properties has acquired 351 Hastings, a 68,735-square-foot industrial building in Buffalo Grove. This is the first existing asset acquisition for its newly launched Molto Properties Fund II. JLL’s Kurt Sarbaugh and Robin Stolberg sourced the opportunity and approached Molto Properties with the transaction. A private investor was the seller. The property is located in the Chevy Chase Business Park north of Lake Cook Road and west of Milwaukee Avenue near the Chevy Chase Country Club. The industrial property features a 24-foot ceiling height, ample car parking, six exterior docks and five drive-in doors.
CHICAGO — Marcus & Millichap has brokered the $4.9 million sale of a 9,217-square-foot retail property in Chicago. The property is located at 1250 S. Michigan Ave. Located in Chicago’s South Loop, the multi-tenant retail property is situated on the ground floor of a 29-story condominium tower. Sean Sharko, Alan Katamanin and Austin Weisenbeck of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a limited liability company, and the buyer, another limited liability company.
CHICAGO — Chicago Real Estate Resources has arranged the sale of a retail property in Chicago. The three storefronts totaled 3,828 square feet, two of which were leased at the time of sale to Snippet’s Mini-Cuts and Edible Arrangements. The property is located at 3722-26 N. Southport Ave., in Lakeview’s Southport Retail Corridor Nate Gautsche of Chicago Real Estate Resources’ commercial office represented the local buyer in the acquisition of the value-add retail property.
CHICAGO — Paine/Wetzel TCN Worldwide has brokered the sale of a 21,750-square-foot industrial building located in the southwest side of Chicago. Vogue Cleaners, a commercial laundry company, is expanding its business and has purchased the property located at 2643 W. 19th St. for an undisclosed sales price. The building includes 17-foot ceiling heights and ample truck loading and vehicle parking spaces. The building has three-phase electrical power and a land site of 40,000 square feet for building expansion and parking. Ed Wabick and Al Schulman of Paine/Wetzel TCN Worldwide represented the seller, B& J Wire Inc., in the transaction. The buyer was self-represented.