CHICAGO — Novak Construction has finished work on a 30,000-square-foot Whole Foods Market at the City Hyde Park development. The store, located at 5118 S. Lake Park Ave., features a secret society theme and pays homage to the University of Chicago. The store features a dark blue and brass color scheme and other décor related to the university. The project also included installing a mechanical system and an underground parking garage. Jeanne Gang designed the City Hyde Park project.
DEERFIELD, ILL. — Fulcrum Assets Advisors has acquired three office buildings in Deerfield, approximately 27 miles northwest of Chicago, for an undisclosed price. The facilities are located within the Parkway North complex, a six-building complex that was constructed between 1988 and 2000. The Class A, 1 million-square-foot property is located between the Lake Cook Road and Deerfield Road interchanges at I-94. The John Buck Company sold the three buildings, which total 484,328 square feet. Tenants at Parkway North include Mondelez International, CF Industries, GCG Financial, Walgreens, Lundbeck and Essendent. Fulcrum plans to upgrade the buildings. Colliers International is overseeing leasing for the property.
HIGHLAND TOWNSHIP, MICH. — Friedman Integrated Real Estate Solutions has negotiated the sale of a 45,538-square-foot retail center in Highland Township, approximately 45 miles northwest of Detroit. CGMT 2006-C5 Retail 2880 LLC sold Highland Town Center to North Michigan Hospitality Inc. through Ten-X.com. The retail center, located at 2780-2880 E. Highland Road, is situated on a 7.7-acre site. The center is comprised of three buildings and features tenants such as Rite Aid and ACE Hardware. Rich Deptula of Friedman represented both parties in the transaction.
DETROIT — Colliers International has arranged a 120,000-square-foot industrial lease in Detroit. Renaissance Global Logistics will occupy the space and use the facility for the distribution of auto parts. Detroit Holbrook Holdings LLC is the landlord. American Axle Manufacturing was the previous owner. Gary Glotzhober of Colliers International represented both parties in the transaction.
OVERLAND PARK, KAN. — McPherson Contractors is set to start construction in July on a $49 million mixed-use apartment project in downtown Overland Park, approximately 13 miles south of Kansas City. The Vue will include 219 luxury one- and two-bedroom units, 10,000 square feet of ground-floor retail space and a multi-level parking garage. Hoefer Wysocki will design the project, and Hunt Midwest is the developer. Amenities at The Vue will include a pool, outdoor grills, cyber café, game room, clubhouse, fitness center and bicycle parking. The project is slated for completion in 2018.
CREST HILL, ILL. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Willow Falls Senior Living, a seniors housing community in Crest Hill, approximately 40 miles southwest of Chicago. Dial Retirement Communities bought the property for an undisclosed price in a joint venture with a private equity fund. The seller is a pair of entities controlled by Greg and Renee Wolf, owners of the property since 1994. Dial will operate the community, which consists of 112 assisted living and memory care units and 76 independent living units.
WOODRIDGE, ILL. — Sinatra & Company Real Estate and Stadt Group have acquired a 304-unit apartment complex in Woodridge, approximately 30 miles southwest of Chicago, for $25 million. Timber Creek Apartments was built in 1974 and is located on 32.5 acres at 3421 Foxboro Drive. The buyers plan to replace the management and leasing platform and upgrade the amenities and units. The complex is comprised of six two-story buildings. Amenities at Timber Creek Apartments include a fitness center, swimming pool, sundeck, volleyball court, laundry rooms, tennis court and 3,000-square-foot clubhouse. The buyers plan to add a car care station and dog park. The seller in the transaction was undisclosed. The Pritzker/Vlock Family Office is financially backing the transaction.
BRAZIL, IND. — Exceptional Living Centers has opened Towne Park Assisted Living of Brazil, a 42-unit assisted living community located approximately 60 miles southwest of Indianapolis. The community is situated on the campus of Exceptional Living Center of Brazil, a 105-bed skilled nursing facility. The proximity will allow residents to age in place. Exceptional Living Centers is an operator of 16 facilities in the Midwest that span the continuum of care.
CHANUTE, KAN. — Block & Company Inc. has brokered the sale of a 15,447-square-foot strip center for $1.5 million in Chanute, approximately 110 miles east of Wichita. Bloomfield 2005 LLC and Metcalf Arlington SPE LLC sold the property, located at 2502-2510 Santa Fe Ave., to an undisclosed buyer. The 92 percent occupied center is anchored by a Walmart Supercenter and includes other tenants such as Shoe Department, Billy Sim’s BBQ, Maurices and GNC.
CHICAGO — CIM Group has closed on the purchase of a 1 million-square-foot office building at LaSalle Street and Congress Parkway in Chicago’s business and financial district for $191 million. The seller of the 40-story tower known as Four40 was TIER REIT Inc. The tower was built in 1984. The property consists of a 954,000-square-foot office tower with an 83,000-square-foot annex overlooking Congress Parkway, a 45,000-square-foot outdoor plaza with seating, a 5,000-square-foot retail outparcel, and a 325-car underground parking garage. Renovations to the property were completed in 2015 and included the addition of a 25,000-square-foot tenant amenity space on the building’s third floor. Amenities include lounges, conference centers, a cafeteria, restaurants and the Buckingham Club, a fitness center that includes a lap pool, driving range, basketball courts, saunas and racquetball courts. The building also includes the Buckingham Hotel, which is located on the 40th floor and offers 21 hotel rooms.
