Illinois

Cohen Secures $9.5M Acquisition Loan for Retail Condominium Property

by Danielle Everson October 24, 2014

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.

October 24, 2014

Illinois Midwest

M&M Arranges $1.8M Sale of 3,845 SF Retail Property

by Danielle Everson October 23, 2014

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.

October 23, 2014

Illinois Midwest

Principle Construction Corp. to Build Cooler/Freezer Building in Monee, Ill.

by Danielle Everson October 22, 2014

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.

October 22, 2014

Illinois Midwest Office

Morgan/Harbour to Complete Renovation, Expansion for Midtronics Headquarters in Illinois

by Danielle Everson October 21, 2014

WILLOWBROOK, ILL. — Morgan/Harbour will complete a 26,000-square-foot office renovation and a 5,000-square-foot office expansion for Midtronics in Willowbrook. The property is located at 7000 Monroe St. in the southwest suburb of Chicago. Construction at the headquarters will feature the addition of 140 office workstations, new AV systems, a new executive boardroom and two meeting rooms. Morgan/Harbour will also complete extensive millwork, replace all flooring, apply new paint and lighting throughout as well as replace all light fixtures and install new acoustical ceiling tiles. A mezzanine will be constructed above the cafeteria to serve as additional seating for meetings or collaborative *breakout areas. Construction is scheduled for completion in late spring 2015. Morgan/Harbour’s construction team included Ben Warriner, Graeme Foster, Scott Heguy and Keith Zagroba. Ware Malcomb is providing architectural services. Midtronics develops and markets technologies for battery management.

October 21, 2014

Illinois Loans Midwest Retail

Envoy Provides Financing for Walgreens Store in Chicago

by Danielle Everson October 20, 2014

CHICAGO — Envoy Net Lease Partners LLC has provided a first mortgage bridge loan for a single-tenant, net-leased Walgreens drug store property in Chicago. Envoy worked with its senior bank partner to provide the subordinated “B-Piece” financing, which gave the borrower the necessary loan proceeds to close on time to qualify for the tax-free exchange treatment. The bridge loan also allows the borrower to negotiate the lease extension after closing. The transaction was the first to be completed under Envoy’s new bridge loan program. The program allows investors to secure 85 percent loan-to-purchase price financing.

October 20, 2014

Illinois Industrial Midwest

Entre Commercial Realty Brokers Sale of 47,500 SF Industrial Building

by Danielle Everson October 20, 2014

FRANKLIN PARK, ILL. — Entre Commercial Realty LLC has brokered the sale of a 47,500-square-foot industrial facility in Franklin Park. The property is situated on more than an acre located at 9201 King St. The facility features heavy, well-distributed power with 1,200 amps, 21-foot clear heights with exiting racking in the warehouse space, five loading docks and covered garage parking. Anilroshi LLC purchased the property for an undisclosed sales price. Anilroshi, a manufacturing and distribution company with a location in Maywood, is expanding to this Franklin Park facility. Entre’s Mark Deady and Tom Boucher represented the seller, a private investor, 9201 King LLC. Veronica Tapia of Chicago-based Tapia Real Estate represented the buyer.

October 20, 2014

Illinois Midwest

Wood Partners, Golub & Co. Begin Construction on 270-Unit Luxury Apartments

by Danielle Everson October 17, 2014

OAK PARK, ILL. — Wood Partners and co-developer Golub & Co. have broken ground on Lake + Forest, a 1.6-acre, 270-unit luxury apartment community in Oak Park. The property is located on the former site of a city-owned parking structure on Forest Avenue. Gensler designed the 21-story, 240,000-square-foot building. The property will include one- and two-bedroom units, approximately 25,000 square feet of retail/office space fronting Lake Street and a total of 588 private and public parking spaces. Tishman Construction is the general contractor for the project. Golub & Co. and JLL will handle leasing for the property. Construction is expected to be complete by spring 2016.

October 17, 2014

Illinois Industrial Midwest

Europa International Acquires 47,650 SF Industrial Facility in Vernon Hills, Ill.

by Danielle Everson October 17, 2014

VERNON HILLS, ILL. — Entre Commercial Realty LLC has arranged the sale of a 47,650-square-foot industrial facility in Vernon Hills. Europa International purchased the property located at 225 Corporate Woods for an undisclosed sales price. The eyewear and sunwear manufacturer is relocating and expanding from its current location in Buffalo Grove. In addition, the company’s manufacturing facility in California is also moving to the new Vernon Hills site. Brian Bocci of Entre represented Europa in the transaction. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CBRE represented the undisclosed seller.

October 17, 2014

Illinois Midwest Mixed-Use

Baum Realty Group Arranges $3.4M Sale of Mixed-Use Property in Chicago

by Danielle Everson October 17, 2014

CHICAGO — Baum Realty Group LLC has brokered the $3.4 million sale of a mixed-use property in Chicago’s Bucktown/Wicker Park neighborhood. The 8,368-square-foot building is located at 1747- 1749 N. Damen Ave. Greg Dietz, Danny Spitz and Adam Secher of Baum represented the buyer, Repak Real Estate Acquisition LLC. The seller was undisclosed.

October 17, 2014

Illinois Midwest Multifamily

M&M Arranges $4.5 Sale of 10-Unit Apartment Building in Chicago

by Danielle Everson October 16, 2014

CHICAGO — Marcus & Millichap has brokered the sale of a 10-unit apartment in Chicago. The property is located at 1429 N. Sedgwick St. and includes a commercial space. Kyle Stengle of Marcus & Millichap’s Chicago downtown office represented the seller and the buyer, both limited liability companies.

October 16, 2014

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