PLAINFIELD, ILL. — Quantum Real Estate Advisors has arranged the sale of Plainfield Marketplace, a retail building located at 11850 S Route 59 in Plainfield. An Illinois-based private investor acquired the 8,010-square-foot retail center for $1.8 million from a Minnesota-based developer. At the time of sale, the property was 100 percent occupied by Sherwin Williams, Edward Jones, Kumon and EDO Cleaners. Chad Firsel and Daniel Waszak of Quantum were the sole brokers in the transaction.
LISLE, ILL. — Providence Life Services and Ryan Companies US Inc. are developing Arbor Place of Lisle, an 80-unit, age-restricted affordable senior living community in Lisle, located about 25 miles west of Chicago. The $20.6 million project features 60 one-bedroom/one-bath and 20 two-bedroom/two-bath units, ranging from 756 square feet to 1,008 square feet. On-site amenities include a living room and common kitchen, a multi-purpose room, a TV/library room, on-site laundry facilities, a private courtyard with gazebo and fitness center. Additionally, the facility features 94 exterior parking spaces. Pioneer Property Management will provide on-site property management services for the property, which is slated to open in July. Residents at Arbor Place of Lisle must be 55 or older.
CHICAGO — NorthMarq Capital has secured $19.4 million in refinancing for Twin Towers Apartments in Chicago. The two 22-story multifamily buildings total 253 units. Sue Blumberg of NorthMarq arranged the 10-year loan, which features a 30-year amortization schedule, for the undisclosed borrower through NorthMarq’s Fannie Mae DUS platform.
NEENAH, WIS. — Paramount Lodging Advisors has arranged the sale of Holiday Inn Neenah Riverwalk, located at 123 E. Wisconsin Ave. in Neenah, near the Fox Cities area of Wisconsin. The hotel includes 107 rooms, 13,000 square feet of meeting and banquet space, a full-service restaurant and a sports bar. The buyer, a regional hotel company, plans to renovate and rebrand the property. Adam Montufar, Brent Clemens and Bennett Webster of Paramount Lodging Advisors represented the undisclosed seller in the transaction, which utilized the Auction.com platform. The sales price was not disclosed.
KENOSHA, WIS. — Faris Lee Investments has brokered the sale of Windsor Pointe, a multi-tenant retail center in Kenosha. San Diego-based Windsor Pointe Investors sold the 13,965-square-foot property for $4.6 million to Connecticut-based REI Advisors. Situated on 2.2 acres at 7201 120th Ave., the property is occupied by Best Buy, Woodman’s Markets and Gander Mountain, as well as other regional and national tenants. Jeff Conover of Faris Lee Investments represented the seller in the transaction. The buyer was self-represented.
ST. PAUL, MINN. — Marcus & Millichap has arranged the sale of an apartment building, located at 2003 Grand Ave., in St. Paul. A private investor acquired the property for $1 million. Built in 1953, the property features one studio unit and 10 one-bedroom apartments. Each apartment features original hardwood floors, art deco-tiled bathrooms, granite countertops and new cabinets. Annie Arneberg, Mox Gunderson and Dan Linnell of Marcus & Millichap represented the seller, a limited liability company, and the buyer in the transaction.
EVERGREEN PARK, ILL. — Detroit-based Lormax Stern Development, in partnership with Tampa, Fla.-based DeBartolo Development, has acquired Evergreen Plaza Mall (The Plaza) in Evergreen Park for an undisclosed price. Built in 1952, the mall has been largely vacant since 2013, with only four stores open at the time of sale. The buyers plan to demolish the majority of the existing 800,000-square-foot mall and replace it with a 425,000-square-foot open-air retail center on the 32-acre parcel. Construction is slated for completion in 2017.
IOWA CITY, IOWA — NorthMarq Capital has finalized $7.1 million in refinancing for Legacy Pointe, an assisted living facility in Iowa City. Jason Kinnison of NorthMarq Capital’s Omaha regional office arranged the 35-year, fully amortizing loan through its FHA/HUD platform for the undisclosed borrower.
CHICAGO — Interra Realty has brokered the sales of two multifamily properties totaling $2.7 million in Chicago’s Ukrainian Village and North Park neighborhoods. A five-unit, owner-occupied multifamily property, located at 1101 N. Damen Ave. in Ukrainian Village, sold for $2 million. The second transaction is the $735,000 sale of a six-unit multifamily property, located at 3217-23 W. Balmoral St. in the North Park district. Brad Feldman of Interra Realty brokered the transactions. The names of the sellers were not disclosed.
COON RAPIDS, MINN. — Marcus & Millichap has brokered the sale of Dot Mini Storage, a self-storage facility with 6.7 acres of developable land in Coon Rapids. The asset, which features 240 units, sold for $2 million. Located at 9900 Vale St., the facility, which was built in 1984, features an on-site manager’s office and apartment, coded-access gate, perimeter fencing and a heated warehouse. Adam Haydon of Marcus & Millichap represented the seller, a private investor, while Haydon and Adam Schlosser, also of Marcus & Millichap, represented the seller, a private investor, in the transaction.
