Midwest

TEI Acquires 340,849 SF Power Center in McHenry, Illinois for $32M

by Kristin Harlow May 7, 2018

MCHENRY, ILL. — Time Equities Inc. has acquired the Shops at Fox River in McHenry, about 50 miles east of Rockford, for $32 million. The power center, built in 2007, features 340,849 square feet. Tenants include TJ Maxx, Ross Dress for Less, Dick’s Sporting Goods, Bed Bath & Beyond, DSW, Ulta Beauty, Old Navy and PetSmart. A 30,000-square-foot box space and a 12,000-square-foot suite remain available for lease. Additionally, a nearly two-acre out parcel is available for further development. Ben Wineman of Mid-America Real Estate Corp. represented the seller, DDR Corp.

May 7, 2018

Development Midwest Minnesota

Stahl Breaks Ground on $9.6M School Addition in Otsego, Minnesota

by Kristin Harlow May 7, 2018

OTSEGO, MINN. — Stahl has broken ground on a $9.6 million renovation project for Prairie View Elementary and Middle School in Otsego, about 30 miles northwest of Minneapolis. The 124,000-square-foot facility, which serves students ranging from early childhood through eighth grade, will be expanded by an additional 42,000 square feet to include a classroom wing, gymnasium, support spaces and an exterior storage building. Interior renovations and site work will also be completed. Wold Architects and Engineers designed the project in collaboration with the school district. Completion is slated for May 2019.

May 7, 2018

Acquisitions Illinois Midwest Multifamily

Interra Negotiates $5.7M Sale of Apartment Building in Chicago

by Kristin Harlow May 7, 2018

CHICAGO — Interra Realty has negotiated the sale of a 32-unit apartment building in Chicago’s Uptown neighborhood for $5.7 million. The three-story property is located at 5022-30 N. Winthrop Ave. Originally constructed in 1916, the building recently underwent a renovation that included new windows, new decks and an intercom entry system. Brad Feldman and Adam Saxon of Interra represented the buyer, 5022 North Winthrop LLC, which was completing a 1031 exchange. Joe Smazal of Interra represented the sellers, 1425 West Chase Associates LLC and 3030 Princeton Associates LLC.

May 7, 2018

Acquisitions Illinois Midwest Office

Podolsky Circle Arranges $2.7M Sale of Office Building in Schaumburg, Illinois

by Kristin Harlow May 7, 2018

SCHAUMBURG, ILL. — Podolsky Circle CORFAC International has arranged the sale of a 43,800-square-foot office building in Schaumburg for $2.7 million. The fully leased property is located at 1000 E. State Parkway within the Woodfield Business Center. Alissa Adler, John Homsher and Paul Tesdal of Podolsky Circle represented the seller, Clear Height Properties. Kelly Joyce of Colliers International represented the buyer, a private investor.

May 7, 2018

Acquisitions Illinois Midwest Restaurant Retail

Premier Brokers Sale of 5,085 SF Building Formerly Occupied by Fradillio’s Restaurant in Algonquin, Illinois

by Kristin Harlow May 7, 2018

ALGONQUIN, ILL. — Premier Commercial Realty has brokered the sale of a 5,085-square-foot building formerly occupied by Fradillio’s restaurant in Algonquin. The property, located at 2321 Algonquin Road, includes a drive-thru. Bruce Kaplan and Kevin Kaplan of Premier represented the seller, North Shore Bank. Eddie Hernandez of Casa Grande Realty represented the buyer, who plans to open a Burrito Parrilla Mexicana restaurant. There are currently six other Burrito Parrilla Mexicana locations in Illinois.

May 7, 2018

Development Illinois Midwest

Skender Begins Interior Construction of 207,000 SF Office Space for C.H. Robinson in Chicago

by Kristin Harlow May 4, 2018

CHICAGO — Skender has begun interior construction of a new, 207,000-square-foot office space for C.H. Robinson in Chicago’s Lincoln Park. The office is located within Sterling Bay’s Lincoln Yards development. The third-party logistics and supply chain management provider is relocating from its current office at 1840 N. Marcey St. The new space will feature open office workstation areas, private offices, conference rooms, two reception areas, a café, 5,000-square-foot roof terrace and an open atrium. Skender is working with designers Vocon and SOM for the project. Completion is slated for this July.

May 4, 2018

Illinois Loans Midwest Multifamily Seniors Housing

ASC Secures $5.8M Refinancing for Skilled Nursing Facility in Sterling, Illinois

by Kristin Harlow May 4, 2018

STERLING, ILL. — American Street Capital (ASC) has secured a $5.8 million loan for the refinancing of Sterling Healthcare, a 121-bed skilled nursing facility in northwest Illinois. Services at the property include short-term rehabilitation, memory, post-surgical and long-term care. Igor Zhizhin of ASC arranged the five-year loan, which features a 25-year amortization schedule. The lender was not disclosed.

May 4, 2018

Acquisitions Hospitality Illinois Midwest

HREC Arranges Sale of Embassy Suites Hotel in Schaumburg, Illinois

by Kristin Harlow May 4, 2018

SCHAUMBURG, ILL. — HREC Investment Advisors has arranged the sale of the 209-room Embassy Suites by Hilton Chicago in Schaumburg. The sales price was not disclosed. The hotel is located nine miles from Chicago O’Hare International Airport. Scott Kaniewski of HREC represented the seller, a joint venture between Hotel Capital and ORIX Real Estate Americas. Pearlshire Capital Group purchased the asset.

May 4, 2018

Acquisitions Midwest Office Ohio

CBRE, NKF Broker Sale of 336,000 SF Office Building in Dayton, Ohio

by Kristin Harlow May 4, 2018

DAYTON, OHIO — CBRE and Newmark Knight Frank have brokered the sale of the 130 Building in downtown Dayton for an undisclosed price. The 23-story, 336,000-square-foot office building is located at 130 W. Second St. The buyer, Brian Lash, plans to add a number of amenities to the property, including a fitness center, co-working spaces, a banquet hall and additional meeting space. Matt Arnovitz of CBRE and Jim Vondran and Keith Yearout of NKF represented the seller, Titan Capital Investment Fund.

May 4, 2018

Acquisitions Midwest Missouri Retail

Baceline Acquires Retail Center in St. Louis for $2.2M

by Kristin Harlow May 4, 2018

ST. LOUIS — Baceline Investments LLC has acquired Grand Marketplace in St. Louis for $2.2 million. The 9,971-square-foot retail center, constructed in 2007, is located just north of Highway 40 and North Grand Boulevard. The property is fully leased to tenants such as City Gear, Instant Tax Service, Boost Mobile and Check n’ Go. Save-A-Lot and Walgreens shadow anchor the property.

May 4, 2018

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