Midwest

CIM Group Finishes 690-Unit Apartment Tower in Chicago

by Christina Cannon June 2, 2016

CHICAGO — CIM Group has completed the construction of Marquee at Block 37, a 690-unit apartment tower in Chicago. The 34-story apartment building sits on top of the four-story Block Thirty Seven retail center. Marquee at Block 37, which is located at 25 W. Randolph St., offers studio, one-, two- and three-bedroom units. Amenities include an outdoor pool and sundeck, fire pits, rooftop hot tub, dog run and wash, fitness center, event room, business center and outdoor terraces. Block Thirty Seven is 275,000 square feet and includes an 11-screen AMC Dine-In Theatre. Construction began on Marquee at Block 37 in October 2014.

June 2, 2016

Illinois Midwest Retail

Inland Private Capital Corp. Arranges $25M Sale of Mariano’s Fresh Market Near Chicago

by Christina Cannon June 2, 2016

ELMHURST, ILL. — Inland Private Capital Corp. has arranged the $25 million sale of a Mariano’s Fresh Market on behalf of one of its 1031 exchange investment programs. The 75,922-square-foot store is located at 678 N. York Road in Elmhurst, approximately 16 miles west of Chicago. The single-story building was constructed in 2013 and is situated on 5.7 acres. The buyer in the transaction was undisclosed.

June 2, 2016

Indiana Midwest Multifamily

RESOURCE Arranges Sale of 328-Unit Apartment Complex in Indianapolis

by Christina Cannon June 2, 2016

INDIANAPOLIS — RESOURCE Commercial Real Estate has arranged the sale of a 328-unit apartment community in Indianapolis. ROCO-Abington Apartments LLC purchased the property from Abington Apartments LLC for an undisclosed price. Built in 1981, Abington Apartments consists of 26 two- and three-story buildings. Amenities at the property include a clubhouse, fitness center, pool, business center, lake, carports, tennis court, extra storage, laundry room and playgrounds. The complex also offers five floor plans from which to choose. Michael Wernke of RESOURCE Commercial Real Estate brokered the transaction.

June 2, 2016

Illinois Midwest Office

Marcus & Millichap Brokers $5M Sale of 55,829 SF Office Property in Metro Chicago

by Christina Cannon June 2, 2016

OAKBROOK TERRACE, ILL. — Marcus & Millichap has brokered the sale of a 55,829-square-foot office property in Oakbrook Terrace, approximately 20 miles west of Chicago. A limited liability company sold Terrace Oaks to a developer for over $5 million. Located at 17W645 Butterfield Road, the building features a marble lobby, three-story glass atrium, ample parking and conference room. John Abuja of Marcus & Millichap listed the property on behalf of the seller and represented the buyer in the transaction.

June 2, 2016

Illinois Industrial Midwest Office

Ryan Cos. Breaks Ground on 146,560 SF Office/Warehouse Facility in Suburban Chicago

by Christina Cannon June 2, 2016

JOLIET, ILL. — Ryan Companies US Inc. has broken ground on a 143,560-square-foot corporate headquarters and warehouse facility for Cadence Premier Logistics. The building will be located at 2250 Chicago St. within the Laraway Crossings Business Park in Joliet, approximately 45 miles southwest of Chicago. The facility will be situated on 44.5 acres and is slated for completion by the end of the year. The facility will feature 22,050 square feet of office space, an additional 22,050 square feet of mezzanine office space for future growth and expansion, 74,620 square feet of warehouse space and 24,840 square feet of breakout area. The building, which is expandable by approximately 94,500 square feet, will be a steel structure with precast concrete wall panels. The facility will also include 184 car stalls, 442 tractor-trailer spaces and an indoor soccer field. Harris Architects Inc. will serve as the architect of record, and Hefner Associates is the civil engineer.

June 2, 2016

Midwest Wisconsin

Miron Construction Breaks Ground on $75M Science Building for University of Wisconsin-Stevens Point

by Christina Cannon June 1, 2016

STEVENS POINT, WIS. — Miron Construction Co. has broken ground on a $75 million science building for the University of Wisconsin-Stevens Point, located 100 miles west of Green Bay. The four-story, 176,500-square-foot chemistry building will include classrooms, lecture halls, research and teaching labs, faculty and staff offices and a tropical conservatory. The facility, which is slated for completion in 2018, is the first major freestanding building constructed on the campus since 1971. The building is designed to use 40 percent less energy and 26 percent less water compared with a conventional design through the utilization of large windows, highly efficient mechanical and electrical systems, bioswales and rain gardens. HOK and Potter Lawson are designing the building.

June 1, 2016

Illinois Midwest Office

Opus Starts Construction on 175,000 SF Headquarters for MC Machinery Systems in Suburban Chicago

by Christina Cannon June 1, 2016

ELK GROVE VILLAGE, ILL. — The Opus Group has broken ground on a 175,000-square-foot corporate headquarters for MC Machinery Systems Inc. in Elk Grove, approximately 25 miles northwest of Chicago. MC Machinery Systems, a subsidiary of Mitsubishi Corp., sells high-tech manufacturing equipment used for metalworking and fabrication. The building will feature 50,000 square feet of office space, 75,000 square feet of ancillary office and storage areas and a 50,000-square-foot showroom. The facility will also include spaces for customer product demonstrations, research and development, machine refurbishment and a customer support call center. Construction is slated for completion by this December.

June 1, 2016

Industrial Midwest Ohio

CBRE Brokers $4.5M Sale of Industrial Building in Cincinnati Suburb

by Christina Cannon June 1, 2016

WEST CHESTER, OHIO — CBRE Group Inc. has arranged the $4.5 million sale of an industrial property in West Chester, approximately 25 miles north of Cincinnati. Ohio Eagle Distributing, a wholesale distributer of domestic, imported and craft beers, purchased the 136,550-square-foot building from Bakery Crafts LLC. The facility, located at 9300 Allen Road, features an office area with break room, hospitality and tasting room, private offices and a warehouse area. The building is situated on 15 acres. Robert Bunton of CBRE represented the seller in the transaction, and Rod MacEachen from SqFt Commercial represented the buyer. Ohio Eagle Distributing will relocate from its current space at 150 Lawton Ave. in Monroe after the building is retrofitted to Anheuser-Busch specifications.

June 1, 2016

Illinois Midwest Multifamily

Marcus & Millichap Negotiates $1.2M Sale of Apartment Property in Waukegan, Illinois

by Christina Cannon June 1, 2016

WAUKEGAN, ILL. — Marcus & Millichap has arranged the $1.2 million sale of a 38-unit apartment property in Waukegan, approximately 40 miles north of Chicago. A fund manager sold Waukegan Apartments and Townhomes, located at 766 Linden Ave., to an undisclosed buyer. The property consists of 20 three-bedroom/one-bathroom townhomes, 16 one-bedroom/one-bathroom apartments and four two-bedroom/one-bathroom apartments. Kyle Stengle and Joseph Bergman of Marcus & Millichap listed the property on behalf of the seller.

June 1, 2016

Industrial Midwest Ohio

NAI Cummins Arranges Sale of a 25,600 SF Industrial Facility in Ohio

by Christina Cannon June 1, 2016

WADSWORTH, OHIO — NAI Cummins has brokered the sale of a 25,600-square-foot industrial property in Wadsworth, approximately 40 miles south of Cleveland, for an undisclosed price. Koorsen Fire and Security purchased the facility at 875 Seville Road and is relocating from a smaller facility in Akron. The seller is a Massachusetts-based private entity. Bob Raskow, Scott Raskow and Jeff Davis of NAI Cummins represented both the buyer and seller in the transaction.

June 1, 2016

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