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Midwest

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CivicIllinoisMidwest

Podolsky|Circle CORFAC Arranges Relocation, Renovation of Evanston Art Center

by Amy Works

EVANSTON, ILL. — Podolsky|Circle CORFAC has arranged the relocation and renovation of the Evanston Art Center in Evanston. The organization will relocate to a newly acquired 20,000-square-foot facility located at 1717 Central St. this summer from its current location at 2603 Sheridan Road. The Dobbins Group, serving as design-build contractor, renovated the new facility, which was a former office building. The art center features multi-disciplinary offerings, including programming and educational activities in the areas of culinary arts, design, digital fabrication, music and visual arts. Additionally the facility features gallery space and a coffee shop. Randy Podolsky and Adam Tarantur of Podolsky|Circle assisted in the acquisition of the facility for the 501(c)(3) non-profit organization. Podolsky|Circle and Lebar Construction Management served as construction manager for the renovation project.

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MidwestOhioRetail

CBL & Associates Sells Eastgate Crossing in Cincinnati for $22.8M

by Amy Works

CINCINNATI — CBL & Associates has completed the disposition of Eastgate Crossing, a retail center located on Eastgate Boulevard in Cincinnati. A joint venture of Inland Real Estate Corp. purchased the 174,700-square-foot property for $22.8 million, including $1.7 million of future earn-out payments and the assumption of a $14.6 million loan secured by the property. The property is 97 percent leased to a mix of national and regional tenants, including Kroger, Marshalls, Ashley Furniture, Jo-Ann Fabrics and Dollar Tree. Margaret Caldwell of Jones Lang LaSalle represented CBL in the transaction.

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Chapel-Hill-Akron-OH
MidwestOhioRetail

Cooper Commercial Brokers Sale of 14,545 SF Retail Plaza in Akron

by Amy Works

AKRON, OHIO — Cooper Commercial Investment Group has brokered the sale of Chapel Center, a retail plaza located in the Chapel Hill shopping district of Akron. A New York-based private investment group bought the 14,545-square-foot property for $2.4 million, which was 97 percent of the original list price. The center is tenanted by Men’s Wearhouse, Sprint, H&R Block, Mattress Warehouse and Check n’ Go. Bob Havasi and Dan Cooper of Cooper Commercial represented the seller, a private Ohio-based investment group, and the buyer in the transaction.

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BKG-Orion-Lake-Orion-MI
IndustrialLoansMichiganMidwestOffice

Bernard Financial Arranges $5.7M Loan for Office/Industrial Property in Michigan

by Amy Works

LAKE ORION, MICH. — Bernard Financial Group has arranged a $5.7 million non-recourse loan for BKG Orion, a 115,545-square-foot office and industrial property located in Lake Orion. The borrower is BKGE Orion LLC. Dennis Bernard and Kevin Kovachevich of Bernard Financial, which will service the loan, arranged the financing, which was provided by a national CMBS lender.

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Highland-Corp-Center-Bolingbrook-IL
IllinoisIndustrialMidwest

LG Electronics Extends 377,630 SF Lease in Bolingbrook, Ill.

by Amy Works

BOLINGBROOK, ILL. — LG Electronics has extended its lease of 377,630 square feet at 1251 115th St. in Bolingbrook. The property is located within Highland Corporate Center and owned by ML Realty Partners. James Frank and Jason West of Cushman & Wakefield represented the tenant in the transaction. Terms of the lease were not released.

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7351-Sandalwood-Dr-Tinley-Park-IL
IllinoisMidwestMultifamily

Marcus & Millichap Brokers Sale of 12-Unit Apartment Building in Illinois

by Amy Works

TINLEY PARK, ILL. — Marcus & Millichap has brokered the sale of an apartment building located at 7351 Sandalwood Drive in Tinley Park. The 12-unit property sold for $845,000. The property comprises four one-bedroom/one-bath units, measuring 600 square feet, and eight two-bedroom/one-bath units, measuring approximately 875 square feet. Each unit has storage, a dishwasher, access to on-site laundry and a balcony or patio. Jordan Gilbert, Andrean Angelov and Ryan Engle of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a private investor, and secured the buyer, a limited liability company, in the transaction.

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MichiganMidwestOffice

NAI Farbman Group Buys 275,000 SF Office Property in Michigan

by Amy Works

FARMINGTON HILLS, MICH. — Southfield, Mich.-based NAI Farbman Group has acquired an office building located at 27777 Inkster Road in Farmington Hills for an undisclosed price. Situated on 35 acres, the property offers 275,000 square feet of Class A office space and ample parking. The former owner, TD Auto Finance, will continue to lease 155,000 square feet of the building.

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Build-Point-North-Waukegan-IL
IllinoisIndustrialMidwest

PREMIER Design + Build Group Selected To Construct Bridge Point North

by Amy Works

WAUKEGAN, ILL. — Bridge Development Co. has selected PREMIER Design + Build Group to construct Bridge Point North, a 240-acre business park redevelopment within McGaw Park in Waukegan. The first phase of the project includes more than 17 million cubic feet of demolition and reconfiguration of existing roadways and infrastructure and the construction of a 625,000-square-foot building and a 400,000-square-foot building. Additionally, the first phase will include the installation of a new heating system and sanitary sewers in a few of the existing structures. Plans for the second phase are currently underway and include up to seven buildings, totaling 1.1 million additional square feet. Cornerstone Architects LTD is providing architectural services and Manhard Consulting LTD is providing civil engineering services.

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HealthcareIllinoisMidwest

Reed Construction Begins Renovations at Illinois Behavioral Health Hospital

by Amy Works

DES PLAINES, ILL. — Reed Construction has started a renovation project at the former Maryville Behavioral Health Hospital, located at 555 Wilson Lane in Des Plaines. US HealthVest acquired the facility in the fourth quarter of 2014 and renamed the property to Chicago Behavioral Hospital. The improvement program includes 22,000 square feet of internal renovations to the facility’s architectural components on the third and fourth floors, including new patient rooms and large group therapy rooms. Additional renovation includes upgrades to various mechanical, electrical and plumping components, as well as the nurse calling and fire alarm systems. Originally founded in 1883, the faith-based, 125-bed facility provides a range of inpatient and day hospital care for adolescents, including a general psychiatric unit and an intensive care unit. Following the renovations, the facility will expand to include services for adults. Miro Petrovic of US HealthVest is providing architectural services for the project. Construction of the renovated space is slated for completion this November.

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MidwestOhioRetail

WesBanco Joins Shoppes at Wedgewood in Ohio

by Amy Works

POWELL, OHIO — Fortress Real Estate Cos. has inked a deal for WesBanco to join the retail roster at Shoppes at Wedgewood in Powell, a city in central Ohio. Construction is underway for a 5,000-square-foot building, including three drive-thru lanes with drive-up ATM and night depository service, for the new tenant. WesBanco is scheduled to take occupancy in October. Located at the corner of Sawmill Parkway and Branford Court, Shoppes at Wedgewood is anchored by a 130,000-square-foot Target. Jack Tzagournis, principal of Fortress Real Estate Cos., announced the new tenant.

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