CHICAGO — Interra Realty has brokered the $7.1 million sale of a 21-unit elevator apartment building in Chicago’s Avondale community. The property is located at 2902-10 W. Belmont Ave. The apartment building includes two- and three-bedroom layouts and a first-floor parking garage. Joe Smazal and James Clough of Interra Realty represented the seller, a local developer. Ted Stratman of Interra Realty represented the buyer, a venture of CLK Properties, a New York-based investor.
SHILOH, ILL. — IMPACT Strategies has completed construction of the TAMAR II Office Building in Shiloh. The property is located at 1116 Hartman Lane. The $2 million project began in July 2014 and was completed three weeks ahead of its scheduled completion in January. TAMAR Properties is the owner and developer. The office building will primarily serve as HSHS Medical Group’s new 5,500-square-foot multi-specialty medical clinic. The building’s additional space will be occupied by Fulford Homes starting in March. IMPACT Strategies project manager Will Stajduhar managed the project along with project assistant Kari Stevens and superintendent Jason Jones. EWR Associates Inc. of Fairview Heights provided architectural services for the project.
CHICAGO — Essex Realty Group Inc. has arranged the $690,000 sale of an apartment property in Chicago. The 25-unit courtyard building is located at 7038 S. Chappel Ave. in Chicago’s South Shore neighborhood. The property is situated just one half-block from the intersection of the 71st Street commercial corridor and Jeffery Boulevard. Doug Imber and Bob O’Connell of Essex represented the seller and Jordan Gottlieb of Essex represented the buyer in the transaction.
SKOKIE, ILL. — STREAM Capital Partners has brokered the sale of a 73,000-square-foot retail property in Skokie. The property is under a long-term lease to Floor & Decor, a national retailer of flooring and tile products. Clark Street Development, a Chicago-based real estate company, sold the property to a private REIT for an undisclosed sales price. Jonathan Wolfe and Jordan Shtulman of STREAM Capital Partners represented the seller.
SHOREWOOD, ILL. — Bob’s Discount Furniture has leased a 751,966-square-foot warehouse and distribution building in Shorewood. The company is expanding its retail furniture business into the Chicago area. The Connecticut-based furniture retailer will move into the space in April. The newly constructed facility is located at the Heartland Corporate Center, about 40 miles southwest of Chicago’s central business district near the intersection of Interstate Highways 80 and 55. JLL represented Bob’s Discount Furniture in the transaction providing site selection, tenant representation, and business and economic incentive services.
URBANA, ILL. — The Bainbridge Cos. is developing Campus Circle Urbana, a 524-bed student housing community located directly across the street from the University of Illinois in Urbana. The property, located at 1008 W. University Ave., will include 181 rental apartments. Campus Circle Urbana will feature a design inspired by the retro “speakeasy” feel of Chicago’s popular restaurants and clubs. The project is scheduled to deliver starting in December.
LYONS, ILL. — Marcus & Millichap has arranged the $735,000 sale of a 24-unit apartment property in Lyons. The building is located at 3905-3913 Haas Avenue. The property includes one-bedroom units measuring approximately 500 square feet each. The complex also features off-street parking and an on-site laundry facility. Ryan Engle and Andrean Angelov of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a private investor and the buyer, a limited liability company.
ORLAND PARK, ILL. — Quantum Real Estate Advisors Inc. has brokered the $5.4 million sale of a 57,499-square-foot shopping center. Marley Creek Square is located at 18000-18092 Wolf Road in Orland Park. The center consists of three buildings — a 27,550-square-foot building inline with Jewel-Osco and anchored by Chase Bank; a 24,461-square-foot building anchored by Barraco’s restaurant; and a 5,488-square-foot outlot building anchored by Starbucks and Jimmy Johns. A local real estate operator sold the property to a Rolling Meadows, Ill.-based private real estate investor. Chad Firsel and Conor Bossy of Quantum represented the seller in the transaction.
NORTHBROOK, ILL. — Millennium Properties R/E has brokered the sale of seven office condominiums totaling 19,567 square feet in the Sky Harbor Business Park in Northbrook, a suburb of Chicago. The units were part of a recently developed two-story office building located at 304 Wainwright St., which included nine properties totaling 23,958 square feet. A medical user purchased the office condos for an undisclosed sales price. The new owner plans to occupy several units and lease the rest of the space. The seven units range from vanilla-box condition to move-in ready with two units leased at the time of sale. The Sky Harbor Business Park is located near Edens Expressway Spur (I-94) and the Tri-State Tollway (I-294).
CHICAGO — Brennan Investment Group LLC, in a joint venture with Goldman Sachs, has acquired a 23-building, 4.68 million-square-foot industrial portfolio for an undisclosed price. The properties, located throughout the Chicago metropolitan area, were purchased from Mirvac Industrial Trust, an Australian public REIT. CBRE and the Macquarie Group represented the seller in the transaction.
