LINCOLNSHIRE, ILL. — Graycor Construction Co. has completed the first two phases of renovations at the Chicago Marriott Lincolnshire Resort in Lincolnshire, a northern suburb of Chicago. Graycor renovated all 390 guest rooms and suites with new windows, HVAC, carpet, ceramic tile, shower door and bathroom fixtures, wall covering and fresh paint. Phase II also included the construction of the Lakeside Pavilion, a 5,000-square-foot, climate-controlled space for weddings and other events. Graycor has also completed nearly 75 percent of the final phase of renovations, which includes rebuilding of King’s Wharf into two new restaurants — Three Embers and Wright’s Brew & Bistro; renovating the lobby Brewpub; adding a Starbucks on the premises; and a new M-Club and Spa. Steven Crowley of Graycor led the project team. The Gettys Group and Stantec provided design services, while Daccord LLC provided project coordination services. LA RFMBG Lincolnshire LLC owns the property and The Bricton Group manages the hotel.
Midwest
ELK GROVE VILLAGE, ILL. — Seefried Properties has selected Principle Construction Co. to build a 107,000-square-foot industrial warehouse in Elk Grove Village. The speculative property will be located at 2080 Lunt Ave. The building will feature 32-foot clear heights with 16 dock positions, two drive-in doors and parking for 134 vehicles. The property will be able to accommodate a single user or multiple tenants. Completion is slated for December. Mark Augustyn, Darrin Dehmlow and Mark Frane are leading the project team for Principle. Harris Architects is the project architect.
CHICAGO — Interra Realty has arranged the sale of Everett Hyde Park in Chicago for $5 million. The 32-unit condominium building is located at 5454 S. Everett Ave. The property was renovated and converted to condominiums in 2007. Joe Smazal of Interra represented the condominium association and the purchaser, Chicago-based Tricap Residential Group. Under the Condominium Property Act in Illinois, condo unit owners can elect to sell a condo property if 75 percent of residents or more are in agreement. Sellers then have the option to either move out or to lease back the property from the new owner.
OLATHE, KAN. — Colliers International has brokered the sale of a 12,000-square-foot industrial building in Olathe for an undisclosed price. The property is located at 15150 South Keeler St. John Stafford of Colliers represented the seller, Fisher Properties LLC. Rob Holland of Cushman & Wakefield represented the buyer, March Properties LLC.
INDIANAPOLIS — CBRE has arranged the sale of three multifamily properties in the Indianapolis area for $69.1 million. Steve LaMotte Jr. of CBRE represented the seller in each of the separate transactions. Philadelphia-based Gold/Oller retained a management interest in Lighthouse Landings, a 336-unit property completed in 2001. Covenant Capital acquired Columns of Castleton, a 398-unit property located on the northeast side of Indianapolis. CBRE represented the seller, Samuel Geltman & Co., which had owned the property for nearly 30 years. The community will undergo a full renovation, including possible construction of a clubhouse and amenity area. Sundance Bay LLC purchased Eagle Pointe Apartments, a 256-unit property located on the west side of Indianapolis. Gold/Oller was the seller.
JEFFERSONVILLE, IND. — Ingram Micro has signed a 592,800-square-foot industrial lease in Jeffersonville, three miles north of Louisville, Ky. The technology and supply chain services provider will fully occupy Gateway 600 within the River Ridge Commerce Center. The property is located on 40 acres at 250 Hilton Lane. VanTrust Real Estate developed the speculative building, which was completed earlier this year. Matt Hartlage and Jake Sturman of JLL represented the tenant in the lease transaction. Kevin Grove of CBRE represented the landlord.
CHICAGO — Belmont Village Senior Living has broken ground on a 149-unit seniors housing community in Chicago’s Lincoln Park. Belmont Village Lincoln Park will feature 120,500 square feet of assisted living and memory care units. The property is being developed on a parcel of land that was originally part of the Children’s Memorial Hospital campus. The building was demolished earlier this year. The project, slated to open in summer 2019, is Belmont Village’s first property in the Chicago proper. The developer has previously completed properties in Buffalo Grove, Carol Stream, Glenview and Oak Park.
CINCINNATI — Colliers International has brokered the sale of a 39,385-square-foot office property in Cincinnati for $5.9 million. Built in 2010 and expanded in 2017, the building is located at 9655 Reading Road. EMCOR Inc., a mechanical and electrical construction services company, fully occupies the property. Steve Timmel, Jeff Johnston, Chris Prosser and John Gartner of Colliers represented the undisclosed seller. A real estate investment trust purchased the property.
ST. PAUL, MINN. — Marcus & Millichap has arranged the sale of a 25-unit apartment building in St. Paul’s Merriam Park neighborhood for $3 million. The property is located at 1880 Marshall Ave. Mox Gunderson, Dan Linnell, Josh Talberg and Evan Miller of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company, and secured the buyer, a partnership.
MILWAUKEE — Oak Realty Group Inc. (ORG) has acquired an 879,704-square-foot industrial portfolio in Milwaukee. The 10 buildings are situated on approximately 57 acres near Milwaukee’s General Mitchell International Airport. Originally constructed in phases through 2004 by a local developer, the buildings range in size from 40,000 to 215,000 square feet. ORG plans to upgrade and renovate the portfolio, as well as work with several tenants who want to expand. ORG partnered with The Africk Family Office for the acquisition.