NAPERVILLE, ILL. — SVN | Chicago Commercial has arranged the sale of four retail buildings in downtown Naperville for $10.5 million. The buildings total 15,412 square feet and are located at 19-27 W. Jefferson Ave. Tenants at the buildings include Lululemon, Jimmy John’s, Adagio Teas, Francesca’s Collection and Cold Stone Creamery. Tim Franz of SVN represented the buyer, Jefferson Naperville LLC. The seller was not disclosed.
KIMBERLY, WIS. — Heritage Senior Living will open its 15th senior living community in Wisconsin at 825 Cobblestone Lane in Kimberly, east of Appleton. Aspire Senior Living will consist of 136 units and 140,000 square feet. The property will feature 45 independent living apartments, 48 assisted living apartments and 43 memory care suites. Independent living residents are expected to move in this June, followed by assisted living and memory care residents in July. Community amenities include two private dining rooms, a movie theater, a rehabilitation gym and pool, barber salon, pub, game room, bistro and convenience store. Rents for one-bedroom independent living units start at $1,990 a month, which includes parking, housekeeping and one meal a day.
DETROIT — Founders Brewing Co. has unveiled plans to open a taproom in the lower Cass Corridor neighborhood of Detroit. The 14,000-square-foot property will be located at 456 Charlotte St., directly behind the Detroit Masonic Temple. Construction is slated to begin this summer with a grand opening set to take place in winter 2017. The company will brew beers at this location, as well as serve year-round, seasonal and specialty beers on tap. Founders Brewing currently operates a taproom in Grand Rapids.
CHICAGO — Chase Bank will open a retail branch at the new Sienna apartment community located at 423 Ohio St. in Chicago’s Streeterville neighborhood. The branch will occupy 3,600 square feet on the ground floor and is slated to open this spring. Chase Bank will relocate from a branch approximately two blocks south. Sienna, which opened to residents in September 2016, consists of 50 apartment units. Golub & Co. and Diversified Real Estate Capital own the property.
ORANGE VILLAGE, OHIO — Fairmount Properties and the DiGeronimo Cos. have received a $142 million loan for the construction of Pinecrest, a 650,000-square-foot mixed-use project in the Cleveland suburb of Orange Village. More than 400,000 square feet of retail and restaurant space will include Whole Foods, REI, Silverspot Theaters, Pinstripes, West Elm, Williams Sonoma, Pottery Barn, Vineyard Vines and Kona Grill. The Offices at Pinecrest will consist of two adjoining 75,000-square-foot Class A office buildings, which will be positioned above the retail and restaurant component. Pinecrest will also feature a 145-room AC Hotel by Marriott, 87 high-end luxury apartments and a one-acre town center. The project is slated for completion in spring 2018. Trey Morsbach, Danny Kaufman and Jim Curtin of HFF arranged the loan with a syndicate of banks led by Huntington Bank, which also included KeyBank, First National Bank, First Commonwealth Bank and Flagstar Bank. HFF also assisted the developer in securing joint venture equity for the project in June 2016.
HARWOOD HEIGHTS, ILL. — Baum Realty Group has arranged the sale of a 32,171-square-foot retail center in Harwood Heights, approximately 13 miles northwest of Chicago, for $7 million. The property, 4600 Plaza, is located at 4600 N. Harlem Ave. The center was owned by an affiliate of Chicago-based Next Realty LLC. The company has completed major renovations and retenanting at the center over the past 18 months. Danny Spitz and Greg Dietz of Baum represented Next in the sales transaction. The buyer was an out-of-state investment group.
WAUKESHA, WIS. — Walker & Dunlop Inc. has provided a $5.3 million loan for the refinancing of Clearwater Apartments in Waukesha. The 55-unit multifamily property was newly constructed in 2015. The property features one- and two-bedroom units as well as a fitness center and barbecue stations. Jeff Schmidt and Tim Cotter of Walker & Dunlop originated the 15-year loan. The transaction served to refinance a bank construction loan.
CHICAGO — 33 Realty has negotiated the sale of the historic Weyland building located at 1970-84 N. Milwaukee Ave. in Chicago’s Logan Square neighborhood. Designed by Chicago architect John Ahlschlager and built in 1907, the three-story property includes four apartments and approximately 5,000 square feet of ground-floor retail space. CRG Real Estate Solutions, a wholly owned subsidiary of Clayco Inc., purchased the property with plans to transform it into 132 apartments and 7,000 square feet of retail space. Chet Kondas of 33 Realty represented the seller, Armitage Milwaukee Development. Justin Moore of Chicago Real Estate Resources represented the buyer. The sales price was not disclosed, but the asking price was $5 million.
CHICAGO — Essex Realty Group Inc. has brokered the sale of three multifamily properties in Chicago for $5 million. 2137 N. Sheffield is a four-unit building located in Lincoln Park. The units vary in size from 800 to 1,000 square feet. 3052 N. Seminary is a five-unit building with units ranging from one- to four-bedrooms. 821 W. Newport Ave. is a six-unit building located in Chicago’s Lakeview neighborhood. The units vary in size from 650 to 1,150 square feet. Doug Imber, Kate Varde and Clay Maxfield of Essex brokered the transaction. Neither the buyer nor the seller was disclosed.
CHICAGO — Starbucks Coffee Co. has unveiled plans to open a Starbucks Reserve Roastery in Chicago in 2019. Located on North Michigan Avenue and Erie Street on Chicago’s Magnificent Mile, the Chicago Reserve Roastery will be the company’s third Roastery location in the United States, following Seattle, which opened in December 2014, and New York City, which is slated to open in 2018. The 43,000 square-foot space will be dedicated to roasting, brewing and packaging the company’s small-batch Starbucks Reserve coffees from around the world. Tailored to the Chicago customer, the four-story building will offer multiple brewing methods, specialty Reserve beverages and mixology. Reserve Roastery locations also include artisan breads and bakery items from Italian-based Rocco Princi. Robert Wislow, Camille Julmy and Todd Siegel of CBRE represented the landlord, Gordon Segal, in the lease transaction. Segal is the founder of Crate & Barrel. Adam Secher of Baum Realty Group represented Starbucks.
