CHICAGO — Capital One Multifamily Finance has provided a $21.4 million fixed-rate, HUD 232/223(f) loan to refinance a 186-bed skilled nursing facility in Chicago. The borrowers are operators who have assembled an extensive portfolio of skilled nursing facilities in the Midwest over the last decade. Joshua Rosen, who leads Capital One’s agency healthcare lending from the company’s Chicago office, originated the transaction for the borrowers. The 35-year loan is nonrecourse and fully assumable.
HUNTLEY, ILL. — Colliers International has arranged the $5.2 million sale of a 58,400-square-foot office building in Huntley, approximately 57 miles west of Chicago. Life Spine Inc. will occupy space in the former Duo-Fast Corp. building located at 13951 S. Quality Drive. Glenview, Ill.-based Illinois Tool Works Inc. sold the two-story, 44,000-square-foot Class A office building, which it acquired in 1999. The property was built in 1997. Life Spine, a spinal implant company, outgrew its 11,000-square-foot headquarters building at 2401 W. Hassell Road in Hoffman Estates and will move to the new location before the end of the year. Ned Frank of Colliers represented the buyer, Life Spine. Jeff Janda and Jim Planey of Lee & Associates represented the seller, Illinois Tool Works.
CHICAGO — Marcus & Millichap has brokered the $425,000 sale of a six-unit apartment property in Chicago. The property is located at 3145 N. Keating Ave. and features one- and two-bedroom units. The building also features an on-site laundry facility and a detached two-car garage. An undisclosed buyer purchased the property. Kyle Stengle and Tony Mazur of Marcus & Millichap’s Chicago downtown office represented the seller, an individual/personal trust.
OAK LAWN, ILL. — Quantum Real Estate Advisors Inc. has brokered the $1.9 million sale of a 13,265-square foot shopping center in Oak Lawn. 51st Avenue Station is located at 5114-5130 W. 95th St. The shopping center was approximately 75 percent occupied at the time of closing with tenants such as Chiro One Wellness Center, Cold Stone Creamery, Miracle Ear, Al’s Italian Beef and Nancy’s Pizza. Chad Firsel of Quantum represented the seller, an east coast large money-center bank , and the buyer, a Clarendon Hills, Ill.-based acquisition company.
CHICAGO — Interra Realty has brokered the $1.5 million sale of a 21-unit, apartment property in Chicago’s Rogers Park neighborhood. The building, built in 1960, is located at 6715-21 N. Hermitage Ave. and includes one-bedroom units. James Clough and Joe Smazal of Interra represented both the undisclosed buyer and the seller.
DOWNERS GROVE, ILL. — J.C. Anderson Inc. will complete a 30,000-square-foot office renovation for CompuSystems Inc. (CSI) in Downers Grove, an eastern suburb of Chicago. The property is located at 2655 Warrenville Road (Corridors II). The build-out at Corridors II will serve as the new headquarters for CSI, a major registration service provider for the convention trade show industry. The new space will include the addition of private offices, conference rooms, workstations, break rooms, training rooms as well as open work areas. Construction is scheduled for completion in December. The firm, previously located at 2805 S. 25th Ave. in Broadview, was founded in 1976 and employs approximately 200 people. Dawn Newman of Newman Architecture is providing the architectural services and Syska Hennessy Group is providing engineering services for the project. Jason Hawkins, Greg Garland and Bill Dennison led the J.C. Anderson construction team.
NAPERVILLE, ILL. — Morgan/Harbour has completed a 16,256-square-foot office build-out for Thatcher Technology Group in Naperville. The property is located at 55 Shuman Blvd. Founded in 1999, Thatcher Technology Group is a provider of sales performance management software to the direct selling industry. The firm has relocated to this new property from another Naperville location. The office build-out included the construction of private offices, conference rooms, a copy room and large break room. Clay Scheller, John Becker and Kieran Towe led Morgan/Harbour’s construction team. The DePalma Group provided architectural services for the project.
CHICAGO — Cohen Financial has secured $9.5 million in debt financing for the acquisition of a 37,415-square-foot retail condominium building in Chicago. The property is located at 2000-2056 Lincoln Park West and is fully leased to tenants including R.J. Grunts, a Lettuce Entertain You restaurant, PNC Bank and Starbucks. Dan Rosenberg of Cohen Financial’s Chicago office secured the $9.5 million acquisition loan with American Realty Capital, a full-service investment management firm. The borrower is LM Advisors, a San Diego- based affiliate of LM Capital Group, an investment management firm.
CHICAGO — Marcus & Millichap has arranged the $1.8 million sale of a 3,845-square-foot retail property in Chicago. Starbucks Anchored Retail | Lincoln Park is located at 1700 West Diversey Parkway on the northwest corner of West Diversey Parkway and North Paulina Street. The property is fully occupied with three long-term tenants Starbucks Coffee, No. 1 Nail Salon and Physicians Plus. Austin Weisenbeck, Adrian Mendoza and Sean Sharko of Marcus & Millichap’s Chicago Oak Brook office, and Kyle Stengle of the firm’s Chicago downtown office represented the seller, a limited liability company. Mendoza, Sharko and Weisenbeck also represented the buyer, a private investor.
MONEE, ILL. — Principle Construction Corp. has broken ground on a new 46,500-square-foot freezer/cooler building for Budreck Truck Lines in Monee. The site for the new facility is located at 6053 W. Industrial Drive. Principle will build 7,000 square feet of corporate offices, 4,000 square feet of truck driver lounge/warehouse support areas, 6,000 square feet of trailer maintenance and repair bays, 6,700 square feet of cooler space, 10,000 square feet of freezer space and 12,800 square feet of refrigerated dock space. Cooler and freezer spaces will boast 24-foot clear height ceilings and a “dry” type fire sprinkler system. The Principle Construction Corp. construction team consists of Mark Augustyn, Ken Lattanzi and Doug Brucato. Partners in Design’s Werner Briske designed the building. Jamie Putnam of Kimley-Horn is providing civil engineering services for the project. NAI Hiffman’s Chris Gary represented Budreck in the purchase of the site.