CHICAGO — NelsonHill has arranged the sale of 2601 S. LaSalle St. in Chicago’s South Loop area to U-Haul International for $3.2 million. The 165,674-square-foot site features a 25,920-square-foot mezzanine level, 6,794-square-foot office space with eight- and 16-foot clear heights, four exterior docks, four drive-in doors and three freight elevators. The property is located near I-55 and Interstates 90/94. Mark Nelson and Michael Nelson of NelsonHill represented the seller Economy Folding Box, which had owned the property for 60 years, in the transaction. U-Haul was self-represented.
Midwest
MINNEAPOLIS — Minneapolis-based Mid-America Real Estate – Minnesota LLC has arranged three retail leases signed for shopping centers in Minnesota. Nordstrom Rack signed a lease for 33,000 square feet at Shops of Knollwood located in St. Louis Park; Rue 21 signed a lease for 6,085 square feet at Woodbury Village in Woodbury; and Starbucks Coffee signed a lease for 2,160 square feet at Dakota Retail Center in Chanhassen. Mid-America represented the tenant in the Nordstrom Rack lease, both the tenant and undisclosed landlord in the Rue 21 lease, and the tenant in the Starbucks lease.
WEST CHICAGO, ILL. — Leopardo Cos. Inc. has completed the new 70,000-square-foot West Chicago Park District Athletics, Recreation and Community Center. The complex is located at 201 W. National St. in Reed-Kepler Park. The one-story park district facility includes three gyms, a fitness area and a play area for children. The project was completed on time and within its $15.5 million budget. The indoor recreation complex features an elevated walking and jogging track, dance and aerobic studios for group fitness classes, event rental space and a catering kitchen. Hoffman Estates-based Leopardo served as construction manager, with the Chicago office of Sink Combs Dethlefs as the architect of record.
BATTLE CREEK, MICH. — The Chicago office of Tremont Realty Capital has arranged a $7.5 million loan for the acquisition of Bedford Hills MHC, a 340-site community located in Battle Creek. Tom Lorenzini of Tremont arranged the 10-year, non-recourse loan with a low 4 percent interest rate and a 30-year amortizing schedule for the borrower, Nodel and Associates. A CMBS lender provided funding for the loan. The property was 72 percent occupied at the time of closing, including more than 60 rental units. Amenities include a resident clubhouse and fully equipped playgrounds.
WHEATON, ILL. — Meridian Design Build has completed the construction of an 81,543-square-foot self-storage facility in Wheaton. The Lock Up is located adjacent to the Main Street Marketplace shopping center at the northwest corner of Main Street and Geneva Road. The four-story facility offers climate controlled and drive-up units and features covered loading bays with secure access. Partners in Design Architects provided architectural services for the project and Watermark Engineering Resources Ltd. provided civil engineering work.
INDIANAPOLIS — Dougherty Mortgage has arranged a $6.7 million HUD 223 (f) loan to refinance Fountainhead Apartments, a 176-unit market rate rental townhome property in Indianapolis. Dougherty’s Minneapolis office arranged the 35-year loan with a 35-year amortization schedule for the borrower, Fountainhead Associates LLC. The complex includes individual outside entrances to each apartment, seven different floor plans, a tennis court, swimming pool, sand volleyball court, lighted dog run and washers and dryers.
CHICAGO — Essex Realty Group Inc. has brokered the $4.7 million sale of 3355 N. Clark St. in Chicago. The mixed-use elevator building is located in Chicago's Wrigleyville neighborhood. The property includes eight condo apartments, two 1,200-square-foot street retail spaces, a garage and parking spaces. Jim Darrow and Jordan Gottlieb of Essex Realty represented the undisclosed buyer and seller in the transaction.
BOLINGBROOK, ILL. — ML Realty Partners LLC has acquired a 56,931-square-foot industrial building in Bolingbrook for an undisclosed price. The distribution facility is located at 650 S. Schmidt Road and will be available for lease immediately. The property has highway visibility along I-55. Terry Grapenthin and Jeffrey Galante of Lee & Associates represented ML Realty Partners in the acquisition and will be responsible for the leasing of the building.
FARMINGTON HILLS, MICH. — L. Mason Capitani/CORFAC International has arranged the sale of a 38,000-square-foot office/flex property in Farmington Hills. The asking price for the property was for approximately $3.9 million, but the final sales price was undisclosed. The property is located at 27675 Halsted Road. JOT II LLC, a local investor, purchased the property from the seller, Halsted Investments, LLC. Michigan-based L. Mason Capitani collaborated with TRI Commercial, its CORFAC affiliate in San Francisco, Calif., to list and market the property.
CHICAGO — J.C. Anderson Inc. has completed an office build-out for The Camden Group at 29 N. Wacker Drive in Chicago. The firm, which provides management and consulting services to the health care industry, is relocating its Chicago offices from 155 N. Wacker Drive to this location. The 9,000 square foot build-out on the 10th floor includes conference rooms, private offices and a server room. The office also features exposed ceilings, new light fixtures, luxury vinyl tile flooring with wood planking, mechanical and electrical upgrades and new flooring. William Burfeind of J.C. Anderson was the project executive and Jason Hawkins of J.C. Anderson was the project manager. Horn Design provided architectural services.