ATHENS, OHIO — Construction is currently underway on River Gate, a 232-bed student housing property located near the Ohio University campus in Athens, located in the southeastern part of the state. The complex, developed by Columbus Pacific Properties and Homestead U, will offer fully furnished two-, three- and four-bedroom apartments. Community amenities include a resident life center featuring a bistro with gourmet coffee and a cyber lounge, a resort-style pool, private study rooms, a 24-hour fitness center, gaming room and an underground parking garage.
RACINE, WIS. — Mid-America Real Estate Corp.’s investment sales team has arranged the sale of Regency Point Shopping Center, a 163,252-square-foot retail center located in Racine, approximately 30 miles south of Milwaukee. Bed Bath & Beyond, DSW, Hobby Lobby and T.J. Maxx anchor the center. Rick Drogosz, Ben Wineman and Dan Rosenfeld of Mid-America represented the seller, The Redmond Co., in the sale of the property to Bonnie Management Corp. for an undisclosed price.
CHICAGO — Marcus & Millichap has arranged the sale of a 49-unit apartment property in Chicago for $2.9 million. A private investor purchased the asset from a group of tenant-in-common owners. The property is located at 2231 E. 67th St. in the South Shore neighborhood. The seven-story building was constructed in 1928 and consists of 24 three-bedroom/three-bathroom units, 24 four-bedroom/three-bathroom units and one six-bedroom/six-bathroom penthouse that is two stories.
IRONTON, OHIO — Blueprint Healthcare Real Estate Advisors has arranged the sale of Sunset Nursing Center, a 60-bed skilled nursing facility in Ironton, in the southeast corner of Ohio near the Kentucky and West Virginia borders. A joint venture between a regional operator and a value-add investor bought the facility from an undisclosed seller. The purchase price equates to $35,000 per bed. Jacob Gehl and Connor Doherty were the lead advisors on the transaction.
LINCOLNWOOD AND CHICAGO, ILL. — Baum Realty Group LLC has brokered the sale of three Chicagoland properties for $49.5 million. In the first deal, Baum Realty represented an undisclosed seller in the disposition of a 45,000-square-foot retail center anchored by CVS. The property is located at 7175 N. Lincoln Ave. in Lincolnwood and sold for $9.8 million. In the second transaction, Baum Realty represented the buyer of a 90,000-square-foot mixed-use property in Chicago. Located at 3115 N. Broadway, the facility consists of ground-floor retail and a four-level parking garage. The buyer plans to convert the property, acquired for $5.7 million, for multifamily use. Lux24 is a 73-unit apartment tower in Chicago’s West Loop that sold for $34 million. Baum Realty brokered the off-market transaction of the 66,000-square-foot property. Danny Spitz and Greg Dietz of Baum Realty brokered all three transactions.
IOWA CITY, IOWA — A partnership between Grand Living and Ryan Cos. has unveiled plans to develop a 170-unit senior housing community in Iowa City. Grand Living in Iowa City will provide independent, assisted living and memory care services. The complex will offer a variety of floor plans ranging from studios to two-bedroom apartment homes. Construction on the community is scheduled to begin this fall. Amenities at Grand Living in Iowa City will include a variety of dining options, a salon, indoor pool, exercise studio, library, performance theater, chapel, activity and art studios, music practice rooms, pet grooming center and wood working shop.
DAVENPORT, IOWA — Homewood Suites by Hilton has opened a new 102-room hotel in Davenport. Homewood Suites by Hilton Davenport is Hilton Worldwide’s newest property and features studio, one- and two-bedroom suites. Davenport Lodging Group developed and owns the hotel. Amenities at the hotel include complimentary breakfast, Wi-Fi, a basketball court, grocery shopping service, fitness center and indoor swimming pool with hot tub. The hotel is located at 4750 Progress Drive.
CHICAGO — Marcus & Millichap has arranged the sale of a four-unit apartment property in Chicago for $1 million. A local partnership purchased the asset, located at 2014 W. Cortez St. in the Ukrainian Village historic district, from another undisclosed partnership. The property consists of a two-bedroom/two-bathroom duplex unit, a top floor three-bedroom/two-bathroom unit and two separate two-bedroom/one-bathroom units. Kyle Stengle and Joseph Bergman of Marcus & Millichap listed the property on behalf of the seller and secured the buyer.
WAUWATOSA, WIS. — Siegel-Gallagher has arranged a 3,728-square-foot office lease at The Forum in Wauwatosa, approximately seven miles west of Milwaukee. Larson Engineering Inc. will occupy the space at 3333 N. Mayfair Road. Mayfair Forum LLC is the landlord. John Dulmes and Dan Walsh of Siegel-Gallagher brokered the transaction.
CHICAGO — Cushman & Wakefield has arranged the sale of two newly renovated industrial properties along Chicago’s I-55 corridor for $14.3 million. 51st Holdings LLC purchased the assets, which total 391,483 square feet, from Venture One Real Estate LLC. Venture One acquired the properties in 2014 and completed a renovation that included restored roofs, facade improvements, updated loading docks, revamped office space, lighting and electrical upgrades, and interior and exterior painting. 6500 West 51st St. was vacant at the time of sale, while 6400 West 51st St. was fully occupied by NADC Group, a logistics and supply chain management firm. Larry Goldwasser, Sally Macoicz, Colin Green and Michael George of Cushman & Wakefield represented both parties in the transaction.