ELGIN, ILL. — Seefried Properties has sold a 144,414-square-foot industrial building in Elgin for an undisclosed price. Jason West and Doug Pilcher of Cushman & Wakefield represented Seefried in the sale. Noel Liston of Core Industrial Realty represented the buyer, a custom plastic molded parts manufacturer. Located at 1705 Madeline Lane, the property features a clear height of 32 feet, 19 dock doors, two drive-in doors and 205 car parking stalls. The facility is part of a two-building campus totaling 465,360 square feet. The second building is under construction, and Seefried is actively seeking users to lease or purchase the property.
Illinois
CHICAGO — Interra Realty has brokered the $3.2 million sale of a 12-unit apartment building in Chicago’s Buena Park neighborhood. Located on North Kenmore Avenue, the property was originally built in 1896 and last renovated in 2014. Situated three blocks from Wrigley Field, the asset was fully occupied at the time of sale. Joe Smazal, Patrick Kennelly and Paul Waterloo of Interra represented the buyer, Drexel Properties, and the seller, a private investor.
WAUKEGAN, ILL. — Marcus & Millichap has negotiated the $2.7 million sale of a two-tenant retail property in the Chicago suburb of Waukegan. The 7,100-square-foot asset is home to Tropical Smoothie Café and Ivy Hall dispensary. The property at 992 S. Waukegan Road serves as an outlot to a casino and hotel that are currently under construction and slated to open in 2025. Both tenants’ leases feature 10 percent rental increases every five years. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not released.
LAKE BLUFF, ILL. — Marcus & Millichap has negotiated the $9.9 million sale of a 67,879-square-foot industrial property in Lake Bluff, a northern suburb of Chicago. The property consists of two multi-tenant buildings located on North Skokie Highway. Adam Abushagur, Nicholas Kanich and Tyler Sharp of Marcus & Millichap represented the seller, a private investor. Buyer information was not provided.
OAK PARK, ILL. — Interra Realty has arranged the $1.4 million sale of a 19-unit apartment building in the western Chicago suburb of Oak Park. The four-story property on North Austin Boulevard comprises 15 one-bedroom units and four two-bedroom residences. Originally built in 1940, the asset has been partially updated. A recent fire impacted six units, which the new owner plans to fully gut and upgrade. The property was 85 percent occupied at the time of sale. Patrick Kennelly and Paul Waterloo of Interra represented the undisclosed buyer and seller.
CHICAGO — The Parking Spot (TPS), an owner and operator of near-airport parking properties, has acquired Park ’N Fly (PNF), a near-airport parking owner and operator with 13 owned, leased and managed facilities. Financial terms of the sale were not disclosed. The transaction will enable TPS to expand its footprint, broaden its third-party management offering and augment its proprietary revenue-management technology with PNF’s near-airport parking search aggregator. With this addition, TPS now operates 47 facilities containing more than 100,000 parking spaces at 28 airports. TPS is owned by investment funds sponsored by Chicago-based Green Courte Partners LLC.
RIVERSIDE, ILL. — The Feil Organization is underway on an $8 million renovation of North Riverside Park Mall, a 1.4 million-square-foot shopping center in the Chicago suburb of Riverside. The project team includes JP2 Architects and AECom Hunt Construction Group. Plans call for modernized flooring, updated ceilings and a revamped entrance. Completion is slated for October. Acquired by Feil in 2004, North Riverside Park Mall is home to 130 national and boutique stores, services and eateries. New tenant additions include Miniso, Pandora, Kids Empire, Kong Dog and Kids Foot Locker House of Play.
CHICAGO — Marquette Cos. has completed The Thompson at Fulton Market, a 210-unit apartment building located at 150 N. Ashland Ave. in Chicago’s Fulton Market district. The project transformed the former Mary Thompson Hospital into apartments. Named for Dr. Mary Thompson, Chicago’s first female doctor and the first woman known to have performed major surgery, The Thompson is comprised of a new 12-story building that is integrated with an original five-story building that was constructed in the 1920s as part of the hospital. Units range from 502 to 2,098 square feet, with monthly rents ranging from $2,155 to $5,350. In addition to the market-rate apartments, there are 32 affordable housing units. Amenities include The Collaboratory, a 24-hour coworking space; The Parlor, a social hub featuring a resident bar and lounge; a fitness center; and dog wash station. An outdoor courtyard features grill stations, seating and a covered terrace. The penthouse level includes an indoor lounge and a rooftop deck overlooking Union Park. Chicago-based artist Lefty Out There created several murals for the common areas. Marquette Management is the property manager, ParkFowler Plus served as the architect and Power Construction was the general contractor.
CHICAGO — McHugh Construction has completed the $30 million transformation of the historic Ramova Theatre in Chicago’s Bridgeport neighborhood. The long-shuttered, single-screen cinema is now an 1,800-person concert hall. The 36,000-square-foot project also included the build-out of a space for Other Half Brewing, an independent craft brewery and taproom; Ramova Grill, an 18-seat diner; and Ramova Loft, a second-floor, 200-person event venue. Ramova Theatre originally opened in 1929 and closed in 1985. After sitting dormant for nearly 40 years, the theater was added to the National Register of Historic Places in 2021. McHugh began the building’s restoration that same year. McHugh worked with O’Riley Office, Baum Revision and historic preservation specialists to restore the building’s architectural details with its original Spanish courtyard-style lobby and auditorium. Project funding came from investments from the local populace, tax-increment financing subsidies from the City of Chicago, a state grant and a Historic Places loan.
CHICAGO — Mintel has signed a 30,000-square-foot office lease at 203 N. LaSalle, a 27-story office tower totaling 624,724 square feet in Chicago’s Central Loop. The global market intelligence agency has relocated from its 26,000-square-foot office at 333 W. Wacker Drive in the West Loop. The Chicago office is the only address that the organization maintains in North America. Kathleen Bertrand, Eric Myers and John Nelson of Transwestern represented ownership, Sumitomo Corp. of Americas. Transwestern handles leasing and management of the building. Michelle Wiedman of Wiedman Real Estate represented Mintel.