CHICAGO — Essex Realty Group Inc. has brokered the sale of a 44-unit multifamily building in Chicago’s Sheridan Park neighborhood for $6.1 million. The property, located at 4706 N. Beacon St., consists of studio, one- and two-bedroom apartments. The building was fully renovated in 2007, including all major building systems. Doug Fisher of Essex represented the undisclosed seller. Doug Imber and Kate Varde of Essex represented the undisclosed buyer.
PARK RIDGE, ILL. — Draper and Kramer Inc. has acquired a three-acre commercial development site in Park Ridge, a suburb of Chicago. The parcel is located at the corner of Greenwood Avenue and Busse Highway. The firm was self-represented in the transaction. Paul Buckingham and Terry Alexa of Newmark Grubb Knight Frank represented the seller, the American Society of Anesthesiologists. Following the acquisition, Draper and Kramer sold a portion of the site to a developer for a luxury seniors housing development. Jason Gustavson of Stone Real Estate is marketing the remaining parcel on behalf of Draper and Kramer.
BROOKFIELD, WIS. — Marcus & Millichap has arranged the sale of Executive III office property in Brookfield for $3.3 million. The 55,863-square-foot, multi-tenant building is located at 125 N. Executive Drive adjacent to Brookfield Square Mall. Joe Powers and Frank Roti of Marcus & Millichap marketed the property on behalf of the seller, a loan servicer. The team also procured the buyer, a private investor based in Illinois.
CHICAGO — LM Commercial has brokered the sale of a 67,305-square-foot industrial building in Chicago’s Montclare neighborhood. The property is located at 2701 N. Normandy Ave. The listing price was $1.5 million, but the final sales price was not disclosed. Martha Winter, Mike Merry and Brian Wabick of LM Commercial brokered the transaction.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the sale of a 13,718-square-foot industrial building in Milwaukee. The sales price was not disclosed. The property is located at 5711 West Douglas Ave. Samuel M. Dickman Jr., Samuel D. Dickman and Zach Hansen of the Dickman Co. represented the seller, Olympic Supply Co. Brett Deter and Joe Carollo of RFP Commercial represented the buyer, Bellot LLC.
SHAKOPEE, MINN. — Meritex has acquired 1080 Park Place, a 299,600-square-foot industrial property in Shakopee, about 25 miles southwest of Minneapolis. The class A property is 100 percent leased to two tenants. The building features 38-foot clear heights, an ESFR sprinkler system and trailer parking with convenient access from Minnesota State Highways 169 and 101. Steve Dorff of Meritex will manage the property. The sales price was not disclosed.
ELK GROVE VILLAGE, ILL. — The Opus Group has completed a new corporate headquarters for MC Machinery Systems Inc. in Elk Grove Village, a northwest suburb of Chicago. The 175,000-square-foot property consists of two buildings located off I-90. The new headquarters features 50,000 square feet of office space, 75,000 square feet of warehouse and storage space and a 50,000-square-foot industrial machinery showroom to showcase the company’s equipment and host customer walkthroughs. MC Machinery Systems, a subsidiary of Mitsubishi Corp., develops, sells and supports seven different types of manufacturing equipment used primarily for metalworking. Opus Design Build was the design-builder, Opus AE Group was the structural engineer of record and Heitman Architects was the architect of record and the design architect.
CINCINNATI — NorthMarq Capital has arranged a $7.2 million loan for the refinancing of Park 42 office property in Cincinnati. The 396,000-square-foot building is located at 3600 Park 42 Drive. Noah D. Juran of NorthMarq arranged the 10-year loan, which includes a 20-year amortization schedule. First Financial Bank provided the loan. The borrower was a real estate investment and management company.
HUNTLEY, ILL. — Midwest Industrial Funds has purchased a 71,000-square-foot industrial building in Huntley, about 50 miles northwest of Chicago. The property is located at 12007 Smith Drive. The building features 22-foot clear heights, eight exterior docks and parking for 60 cars. An additional three acres at the site can be developed separately. The facility is currently fully leased to one tenant that uses the property for warehousing and light manufacturing. Midwest Industrial plans to improve the exterior façade, install new windows, perform landscaping enhancements and eventually perform interior improvements to reposition the property in the marketplace. Dan Tobin of CTK Chicago Partners represented Midwest Industrial in the purchase. Michael Magliano of Cushman & Wakefield represented the seller, a private investor. The purchase price was not disclosed.
ROGERS, MINN. — Marcus & Millichap has arranged the sale of a retail property net leased to KinderCare in Rogers, about 25 miles northwest of Minneapolis, for $2.9 million. The 9,500-square-foot childcare center is located at 14080 Northdale Blvd. The property was built in 2007 and is located near elementary schools, parks and residential areas. Tammy A. Saia and Joseph Mirante of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Dominic Sulo, also of Marcus & Millichap, secured and represented the buyer, a limited liability company. Craig Patterson assisted in closing the transaction.
