CHICAGO — Marcus & Millichap has arranged the $720,000 sale of a seven-unit apartment property in Chicago. The property, located at 2559 W. Haddon Ave., features a mix of one-, two- and three bedroom apartment units. Joseph Bergman and Kyle Stengle of Marcus & Millichap represented the seller, a private investor. Bergman and Stengle also represented the buyer, a limited liability company.
Midwest
WEST BLOOMFIELD AND TROY, MICH. — L. Mason Capitani CORFAC International has been appointed as the exclusive leasing representative for two Class A medical facilities in Michigan. The properties include the West Bloomfield Beaumont Medical Center, located at 6900 Orchard Lake Road in West Bloomfield; and the Kirkwood Professional Plaza, located at 5500 Auto Club Drive in Dearborn. Kirco Management Services LLC operates both properties. Mason Capitani and Gary Grochowski of CORFAC will direct all leasing efforts at the two properties.
CHICAGO — Marcus & Millichap has arranged the $3.9 million sale of a 10-unit apartment property in Chicago. The property is located at 650 W. Wellington Ave. in Lakeview. The recently renovated units range from one to four bedrooms. Kyle Stengle of Marcus & Millichap represented the seller, Jab Real Estate. Stengle also represented the buyer, a limited liability company.
PLYMOUTH, MINN. — Oak Grove Capital has originated a $32.8 million FHA loan for a townhome community in Plymouth. The loan was for Bass Lake Hills Townhomes. The 284-unit, market-rate complex is located at 5875 Teakwood Lane N. Gary Marchiori of Oak Grove Capital facilitated the FHA 223(f) multifamily loan.
CHICAGO — MB Real Estate has brokered the sale of two floors of office space spanning 20,315 square feet at the 55 W. Wacker building in Chicago. The 15-story, 209,000-square-foot tower is located at 55 W. Upper Wacker Drive. The Taipei Economic and Cultural Office in Chicago (TECO-Chicago) will occupy space on the 12th and 13th floors of the building. The TECO-Chicago office serves Taiwanese citizens in the Midwest as well as the interests of the Republic of China (Taiwan). TECO-Chicago will relocate from its current offices in Chicago this spring.The Class B building was built in 1968. The property is leased and managed by MB Real Estate. Kevin Purcell, Mark Buth and Walter Hennig of MB Real Estate represented building ownership in the transaction. Lisa Davidson and James Stein of Studley Inc. represented TECO-Chicago.
ST. LOUIS — The Loop Trolley Transportation Development District (TDD) has selected Kwame Building Group to provide construction management services for the $43 million Loop Trolley project in St. Louis and University City, Mo. The trolley project includes installation of the tracks and overhead electric lines, construction of 10 station stops, and a roundabout with landscape elements at the western terminus. The 2.2-mile electric trolley system will operate three cars — a restored historic trolley car and two vintage replica cars. The Loop Trolley TDD recently received Federal Transit Administration approval for a $25 million grant through the Urban Circulator Systems program for the project. Kwame Building Group will begin issuing construction bid packages in late April and May.
ROMEOVILLE, ILL. — Magid Glove & Safety Manufacturing Co. LLC, a supplier of safety equipment, has acquired a 703,973-square-foot industrial building from Venture One Real Estate. The purchase price was undisclosed. The property is located at 1300 Naperville Drive in Romeoville, approximately 30 miles southwest of Chicago. Magid Glove & Safety will combine the operations of two Chicago plants into one larger, modern headquarters, manufacturing and distribution facility. The building features 100,000 square feet of office space, a partially air-conditioned warehouse, more than 250 trailer stalls, 24-foot clear ceiling heights and heavy power. Brad Weiner and Whit Heitman of Cushman & Wakefield along with Jeff Girling and Terry Lynch of Paine/Wetzel represented the buyer, Magid Glove & Safety, in the transaction. Jason West and Sean Henrick of Cushman & Wakefield represented the seller, Venture One Real Estate.
CHICAGO — Marcus & Millichap has brokered the $5 million sale of a 39-unit apartment property in Chicago. The property is located at 2520 W. Leland Ave. The renovated building consists of studio, one- and two-bedroom apartments. Kyle Stengle of Marcus & Millichap represented the seller, a private investor. Stengle also represented the buyer, a limited liability company.
CHICAGO — Sperry Van Ness | Chicago Commercial has arranged the $1.1 million sale of a five-unit multifamily apartment building in Chicago’s Lincoln Park neighborhood to an undisclosed buyer. The building is located at 1870 N. Halsted Street. The property has an updated owner’s unit, individual HVAC, and parking behind the building. Jeffrey Baasch and Brian Kochendorfer of Sperry Van Ness represented the undisclosed seller in the transaction.
NEWARK, OHIO — Cleveland, Ohio-based Goodman Real Estate Services Group LLC has arranged the $2 million sale of Mt. Vernon Crossing, a shopping center in Newark anchored by Kohl’s Department Store. The property is located at 155 Deo Drive and is shadow-anchored by Kroger. The property was 90 percent leased at the time of the sale. The acquisition was an off-market transaction. Kyle Hartung of Goodman Real Estate Services represented the undisclosed buyer. Hartung also represented Planet Fitness, which leased 17,992 square feet at the shopping center. Newark is located approximately 40 miles east of Columbus.