Midwest

Mid-America Brokers $18.2M Sale of Retail Property in Chicago Suburb

by Christina Cannon January 18, 2016

OAK BROOK, ILL. Mid-America Real Estate Corp. has brokered the sale of a 67,143-square-foot retail property in Oak Brook, approximately 20 miles west of Chicago. Newport Capital Partners acquired The Oaks of Oak Brook on behalf of Newport Fund II for $18.2 million. The retail property is located at the intersection of Kingery Highway and 16th Street and features tenants such as Panera Bread, Atheltico, Wells Fargo and Sleepy’s. Joe Girardi and Ben Wineman of Mid-America represented the seller in the transaction, a joint venture between DLC Management and Hutensky Capital Partners.

January 18, 2016

Illinois Loans Midwest

RealtyMogual.com Arranges $16.8M Bridge Loan for Office Property in Chicago Suburb

by Christina Cannon January 18, 2016

ROLLING MEADOWS, ILL. — RealtyMogul.com has arranged a $16.8 million bridge loan and $1.5 million preferred equity investment for the acquisition of an office building in Rolling Meadows, approximately 30 miles northwest of Chicago. The facility is a non-recourse loan with proceeds being used to purchase the property and provide a facility for leasing costs. The combined terms of the debt and preferred equity offered the sponsor 81 percent of project costs. The sponsor is Schaumburg-based Helios Properties. 1600 Corporate Center is a 255,440-sqaure-foot, Class A facility that houses multiple tenants. The 12-story building is located close to Woodfield Mall. The sponsor plans to add a conference room and a gym. The building is currently 91 percent occupied with tenants suck as Bank of America, Alliant Credit Union, Fleetmatics and Regus.

January 18, 2016

Illinois Midwest Retail

Baum Realty Brokers $14.6M Sale of Retail Portfolio in Chicago

by Christina Cannon January 18, 2016

CHICAGO — Baum Realty Group LLC has brokered the sale of The Armitage Collection in Chicago for $14.6 million. The Armitage Collection is a 32,604-square-foot retail portfolio that is located at 1123 – 1133 W. Armitage Ave. The portfolio is 100 percent leased to five tenants and consists of four, two-story buildings. Greg Dietz and Danny Spitz of Baum Realty represented the private seller in the transaction. The buyer was undisclosed.

January 18, 2016

Illinois Midwest Multifamily Seniors Housing

William A. Randolph Breaks Ground on 100-Unit Seniors Housing Community in Chicago Suburb

by Christina Cannon January 18, 2016

LONG GROVE, ILL. — William A. Randolph Inc. has broken ground on Long Grove Senior Care, a project in Long Grove, approximately 35 miles northwest of Chicago. GART Partners selected William A. Randolph Inc. to serve as the general contractor for the two-story, 100-unit senior living community, which includes assisted living and memory care. The project will be situated on 10 acres and will feature a bistro, a pub and billiards room, outdoor patios, walking paths, gardens, a theater and a greenhouse.

January 18, 2016

Industrial Midwest Ohio

NGKF Arranges 1 MSF Industrial Lease in Columbus Suburb

by Christina Cannon January 18, 2016

GROVEPORT, OHIO — Newmark Grubb Knight Frank (NGKF) has arranged a 1 million-square-foot lease for an industrial facility located in Groveport, a southeastern suburb of Columbus. Saddle Creek Logistics Services will occupy the newly completed building located at 6606 Pontius Road in February, which is inside the Groveport Industrial Park. Benton Benalcazar and Ladson Montgomery of NGKF represented Saddle Creek, which signed a long-term lease for the warehouse and distribution facility. The property features 36-foot clear heights, ample car and trailer parking, a cross-dock warehouse, 100 dock positions, fours drive-in doors and an ESFR sprinkler system. The lease also features a 15-year, 100 percent real estate tax abatement.

January 18, 2016

Illinois Industrial Midwest

Ryan Cos. Completes 246,457 SF Industrial Project for Molto Properties in Elgin, Illinois

by Christina Cannon January 15, 2016

ELGIN, Ill. – Ryan Cos. has completed the construction of a 246,457-square-foot industrial project in Elgin, approximately 40 miles northwest of Chicago. The development, located at 2770 Alft Court within the Randall Crossings Business Park, was constructed on behalf of Molto Properties. Ryan Cos. has owned the master-planned, 70-acre Randall Crossings Business Park since 2005. The facility for Molto Properties is situated on a 13.5-acre site and features 50-foot bays, a 60-foot speed bay, 32-foot clear heights, 40 truck docks, four drive-in doors, parking for 188 vehicles and office space to-suit. Construction on the building began in the spring of 2015. With completion of this building, Randall Crossings Business Park includes more than 1 million square feet of space. There is still a 5.7-acre land parcel remaining for development.

January 15, 2016

Illinois Midwest Office

South Street Capital Sells Office Loft Building in Chicago’s West Loop for $7.1M

by Christina Cannon January 15, 2016

CHICAGO – South Street Capital has sold a 30,000-square-foot office loft building in Chicago’s West Loop neighborhood for $7.1 million. The three-story asset is located at 1130 W. Monroe St. and was originally acquired by South Street Capital in 2013. Following the original acquisition, South Street Capital made updates and improvements to the common areas and mechanical systems. The buyer in the transaction was undisclosed.

January 15, 2016

Illinois Midwest Retail

Lee & Associates Brokers Sale of 16,803 SF Retail Property in Mundelein, Illinois

by Christina Cannon January 15, 2016

MUNDELEIN, ILL. – Lee & Associates has brokered the sale of a 16,803-square-foot neighborhood retail center for an undisclosed price. Inland Real Estate Corp. sold the property located at 1460-1492 Townline Road in Mundelein, approximately 40 miles northwest of Chicago to an undisclosed private investor. Mundelein Plaza, built in 1989, is a 100 percent occupied center, which includes tenants such as Stone Habitat, Mundelein Polish Deli and Posterworks Gallery & Frame. The plaza is an outparcel to The Great Escape, a retailer of home leisure products. Rick Scardino and Edward Winslow of Lee & Associates represented the seller in the transaction.

January 15, 2016

Industrial Midwest Wisconsin

The Dickman Co. Arranges Sale of 7,000 SF Industrial Building in Kenosha, Wisconsin

by Christina Cannon January 15, 2016

KENOSHA, WIS. – The Dickman Co./CORFAC International has arranged the sale of a 7,000-square-foot industrial building in Kenosha for an undisclosed price. Bone Dry Products Inc. purchased the facility located at 9009 58th Place from Neal R. Rusecki and Nancy J. Rusecki. Zach Noble and Cale Berg of The Dickman Co. represented the seller in the transaction. Mike Pitts Jr. of Pitts Brothers & Associates represented the buyer.

January 15, 2016

Illinois Midwest Retail

Mid-America Brokers $20M Sale of 149,526 SF Retail Center in Chicago Suburb

by Christina Cannon January 14, 2016

ORLAND PARK, ILL. — Mid-America Real Estate Corp. has brokered the $20 million sale of a Home Depot-anchored retail center in Orland Park, approximately 28 miles southwest of Chicago. Cole Real Estate Income Strategy Inc. purchased the 149,526-square-foot center, which is located at the intersection of Harlem Avenue and 159th Street. Other tenants in the center include Sleepy’s, Five Guys and Supercuts. VEREIT Inc. represented Cole Real Estate in the transaction. Ben Wineman and Joe Girardi of Mid-America represented the undisclosed seller, an Ohio-based publicly traded real estate investment trust.

January 14, 2016

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