Sunday, July 26, 2026
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Midwest

IllinoisMidwestMissouri

Associated Bank Provides $14.4M in Loans for Self Storage Facility, Parking Project

by Christina Cannon

SKOKIE, ILL. AND ST. LOUIS, MO. — Associated Bank has financed the development of a new storage facility and parking garage for $14.4 million. Metro Storage received $8.1 million to acquire and reposition a vacant retail center at 3240 W. Touhy Ave. in Skokie, Ill., a Chicago suburb. The facility will be converted into 83,000 square feet of self-storage units that are climate-controlled. Metro Storage currently operates in 12 states. Green Courte Partners and The Parking Spot received $6.3 million for the acquisition and repositioning of a 1,758-space parking garage at Lambert-St. Louis International Airport in St. Louis. Edward Notz of Associated Bank arranged both loans.

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MidwestOfficeOhio

Marcus & Millichap Arranges $4.4M Sale of Medical Office Building in Columbus Suburb

by Christina Cannon

PICKERINGTON, OHIO — Marcus & Millichap has arranged the sale of a 12,539-square-foot medical office building for $4.4 million in Pickerington, a Columbus suburb. Scott Niedergang and Gino Lollio of Marcus & Millichap represented the seller, Stage Equity Partners LLC. Charlie Hampton III of Marcus and Millichap represented the undisclosed buyer in the transaction. Pediatric Associates is the tenant.

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IllinoisMidwestOffice

Bradford Allen, Essex Broker $4.2M Sale of 27,000 SF Office Building in Chicago

by Christina Cannon

CHICAGO — Bradford Allen Realty Services and Essex Realty Group have brokered the sale of a 27,000-square-foot office building located at 925 W. Chicago Ave. for $4.2 million. Laurence Elbaum of Bradford Allen and Jason Fishleder of Essex represented the seller, Gamla Cedron Group. The buyer was undisclosed. The three-story building was 66 percent occupied at the time of sale. Tenants include The Lab Dance Studio and Proline Golf. The loft building was originally built in 1905 and was renovated in 2013.

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IowaLoansMidwestMultifamily

NorthMarq Capital Secures $1.8M Refinancing for Three Multifamily Properties in Iowa

by Christina Cannon

CEDAR RAPIDS AND MERION, IOWA — NorthMarq Capital has secured a $1.8 million refinance loan of three multifamily properties located in Iowa. The three properties include a combined 64 units. Westcove Apartments, Kimberly Square and Residence on 11th are the three communities that were refinanced. The transaction was structured with a fully amortizing 20-year term. All other details of the transaction were undisclosed.

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IllinoisMidwest

Brown Commercial Brokers One Property Sale, Three Leases Totaling 26,000 SF in Illinois

by Christina Cannon

CHICAGO — Brown Commercial Group has brokered one sale and three leases totaling 26,000 square feet in Chicago’s northwestern suburbs. Knight Tool Works Inc. inked a deal to lease 11,000 square feet of industrial space at 1200 Abbott Drive in Elgin from Brite Properties LLC. Brian Lindgren and Dan Brown of Brown Commercial represented the landlord. John D’Orazio of Colliers International represented the tenant. Andrew Minehart and Edward Jones have acquired a 2,370-square-foot retail/office suite located at 2445 Westfield in Elgin from Union Nation Bank. Brian Lindgren represented the buyers and Les Liakatas of Landmark Partners represented the seller. Mac-Ster is the new tenant of a 9,120-square-foot industrial property located at 1450 Bernard Drive in Addison. Mike Antonelli represented the landlord, an undisclosed private investor. Mack Stone of SC Group Real Estate represented the tenant. Antonelli also represented the tenant and the landlord in a 3,600-square foot lease transaction. DG Vault LLC is the new tenant of an office property located at 396 E. St. Charles Road in Carol Stream.

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IllinoisMidwest

Leopardo Completes Construction of 134,000 SF High School in Spring Valley, Ill.

by Christina Cannon

SPRING VALLEY, ILL. — Leopardo Cos. Inc. has completed the construction of Hall High School in Spring Valley at a cost of $32 million. Located approximately 57 miles north of Peoria, the 134,000-square-foot school replaces a 100-year-old facility. Hall High School includes a main academic building, athletic complex and performing arts center. The athletic complex is made up of two gymnasiums, a weight training and fitness room, locker rooms and a concession area. The performing arts center includes a stage with sound and recording systems, art and food labs, a kiln room and a set design area with a cafeteria and kitchen. The high school opened in September.

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IllinoisMidwestRetail

Mid-America Brokers $19.6M Sale of 40,306 SF Retail Property in Chicago

by Christina Cannon

CHICAGO — Mid-America Real Estate Corp. has brokered the sale of the Roosevelt Galleria in Chicago. Acadia Realty Trust purchased the 40,306-square-foot retail property for $19.6 million. Tenants include Golfsmith, Petco, Sleepy’s, United Healthcare and The Vitamin Shoppe. Joe Girardi and Stan Nitzberg of Mid-America were the sole brokers in the transaction and represented the seller, Ravine Park Partners and Development Resources.

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LoansMidwestMinnesota

Dougherty Closes $11M Fannie Mae Refinancing Loan for Senior Apartments in Minneapolis Suburb

by Christina Cannon

OAK PARK HEIGHTS, MINN. — Dougherty Mortgage LLC has closed an $11 million Fannie Mae loan for the Villas of Oak Park Senior Apartments in Oak Park Heights, a suburb of Minneapolis. The loan proceeds were used to refinance the 62-unit, age-restricted property. The 12-year loan, which includes a 30-year amortization schedule, was arranged by Dougherty’s Minneapolis office for the borrower, Oakgreen Senior Villas LLC.

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IllinoisMidwestMultifamily

Interra Realty Arranges Sales of Two Multifamily Properties in Chicago for $3.9M

by Christina Cannon

CHICAGO — In separate transactions, Interra Realty has arranged the sale of two apartment properties on the north side of Chicago for a total of $3.9 million. A 12-unit property located at 3748 W. School St. in Avondale sold for $2 million, or $170,000 per unit. The 13,300-square-foot building was constructed in 1918 and renovated in 2007. The property was originally slated to be condos. The building has been operating as a rental property for the last eight years. A 19-unit property located at 6971 N. Greenview Ave. in Rogers Park sold to an undisclosed cash buyer for $1.9 million, or $100,000 per unit. The 15,200-square-foot property traded at a cap rate of 5.1 percent and was built in 1930. James Clough and Joe Smazal of Interra represented both undisclosed parties in the transactions.

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IndianaMidwestRetail

Quantum Brokers $1.9M Sale of 36,800 SF Property in Merrillville, Ind.

by Christina Cannon

MERRILLVILLE, IND. — Quantum Real Estate Advisors Inc. has brokered the sale of a 36,800-square-foot, multi-tenant retail building located at 5160-5210 E. 81st Ave. in Merrillville, approximately 40 miles southeast of Chicago. The property, Madalyn Plaza, sold for $1.9 million and is comprised of two multi-tenant retail buildings and two warehouse units. The two retail buildings, which total 22,406 square feet, are currently 71 percent occupied. Chad Firsel of Quantum was the sole broker in the transaction.

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