Illinois

Quantum Real Estate Advisors brokers sale of a 47,158 SF shopping center in Lansing, Ill.

by Jonathan Mehall August 4, 2015

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.

August 4, 2015

Hospitality Illinois Midwest

Hyatt Centric The Loop Chicago Celebrates Grand Opening

by Jonathan Mehall August 3, 2015

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.

August 3, 2015

Healthcare Illinois Midwest

I.M. Construction Group Completes Construction of Illinois Bone and Joint Institute

by Jonathan Mehall August 3, 2015

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.

August 3, 2015

Illinois Midwest Retail

J.C. Anderson Inc. Selected to Complete Renovation for DePaul’s University Loop Cafeteria

by Jonathan Mehall August 3, 2015

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.

August 3, 2015

Illinois Midwest Multifamily

Marcus & Millichap Brokers Sale of 4,050 SF Plot in Chicago Neighborhood Lincoln Park

by Jonathan Mehall August 3, 2015

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.

August 3, 2015

Healthcare Illinois Midwest

Marcus & Millichap Brokers Sale of 6,780 SF Net-Leased Medical Facility in Elmhurst, Ill.

by Jonathan Mehall July 31, 2015

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.

July 31, 2015

Illinois Midwest Multifamily Seniors Housing

Caddis Partners With Pathway Senior Living to Develop Assisted Living Community in Peoria, Ill.

by Jonathan Mehall July 30, 2015

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.

July 30, 2015

Healthcare Illinois Midwest

Marcus & Millichap Brokers Sale of 11,200 SF Net-Leased Medical Center in Addison, Ill.

by Jonathan Mehall July 30, 2015

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.

July 30, 2015

Illinois Midwest Office

Bradford Allen Arranges Six Lease Deals at 520 W. Erie in Chicago

by Jonathan Mehall July 30, 2015

CHICAGO — Bradford Allen has arranged six lease transactions at 520 W. Erie St., a 45,000-square-foot brick and timber loft building in Chicago’s River North submarket. Owner Gamla Cedron Group hired Bradford Allen as the leasing agent for the property in late 2014. Since then the brokerage firm has secured 17,959 square feet of leases, bringing the building’s occupancy to 87 percent. Tenants of the River North property include SFP Commercial Real Estate, Stepbrand Enterprises, J.S. Graphics Inc. and Doors for Builders. The building features high ceilings, large windows and customizable suites and is located across from a park. Several shops, restaurants and public transportation options are nearby. Two suites, one totaling 2,968 square feet and the other 2,800 square feet, remain available. Craig Nadborne and John Skalla are the leasing agents on behalf of Bradford Allen.

July 30, 2015

Illinois Midwest Mixed-Use

Pre-Leasing for NorthShore 770 Mixed-Use Community Set for Aug. 1

by Jonathan Mehall July 29, 2015

NORTHBROOK, ILL. — Co-developers Morningside Group and Crossroads Development Partners have planned the pre-leasing of the luxury rental residences at NorthShore 770 for Aug. 1. The 347-unit luxury apartment community and 101,435-square-foot retail center features a Mariano’s grocery store at 770 Skokie Blvd. in Northbrook, 25 miles south of downtown Chicago. Other retailers and restaurants featured are Fuddruckers, Panera Bread, Kriser’s pet food, PNC Bank, and Chipotle. Renters at NorthShore 770 can choose from one-bedroom, one-bedroom plus study, two-bedroom and two-bedroom plus study plans measuring from 667 to 1,341 square feet. The building will also include 595 parking spaces for residents and their guests in a heated garage with a car wash and tire-fill station.

July 29, 2015

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