CHICAGO — Marcus & Millichap has arranged the sale of a net-leased Whole Foods store in Chicago for $11.58 million. The 41,148-square-foot building, located at 6020 N. Cicero Ave., sits at ground level in a multi-story condominium complex. Marcus & Millichap’s Sean Sharko and Austin Weisenbeck represented the seller, a local partnership in this deal. Juan DeAngulo of Transwestern Investment Management represented the buyer.
CHARLESTON, ILL. — Chicago-based Triad Real Estate Partners has arranged the sale of Youngstown Apartments, an 89-unit student housing property for $3.5 million. The property serves as student housing for Eastern Illinois University in Charleston and was fully occupied at the time of sale. Ryan Tobias, Shaun Buss and Sean Lyons of Triad represented the seller, a private development company from California. The buyer was a private owner-operator based in Champaign, Ill.
OXORD, MICH. — Mid-America Real Estate has arranged the lease of a 1,402-square-foot retail space in Oxford at Oxford Crossing, north of Detroit. Adam Goodman and Gabe Schuchman of Mid-America represented the tenant, Achatz Handmade Pie Co. Larry Siedell of Walled Lake, Mich.-based Gerdom Realty & Investment represented the landlord in the deal.
GRAND RAPIDS, MICH — Landmark Commercial has arranged the sale of two medical buildings in Grand Rapids for a combined $17.6 million. The first building, located at 860 Leonard St., sold for $8.4 million. The 56,000-square-foot building is anchored by Grand Valley Health Plan and Grand Valley Surgical Center. The second building, located at 1000 E. Paris Ave., sold for $9.2 million. The 110,000-square-foot building is a multi-tenant medical office building and is anchored by Spectrum Health. Daniel Kukes and Kevin Baker of Landmark represented the buyer, a Chicago-based private family office, in the deal.
FORT WAYNE, IND. — NAI Harding Dahm has arranged the sale of four shopping centers in northern Indiana for a combined total of $6.7 million. The centers, located in Fort Wayne, Portland and Auburn, Ind., total 164,050 square feet. The properties include: Pine Wally Crossing and Jefferson Center; both neighborhood centers in Fort Wayne; Auburn Cord Plaza in Auburn; and Portland Commons in Portland. The shopping centers were sold to a local Indian investment group. NAI Harding Dahm was the leasing agent for all properties.
CHICAGO — New York-based Loews Hotels & Resorts plans to open a new 52-story hotel in Chicago. The Loews Chicago Hotel will include: 400 guestrooms, 36 suites, a restaurant, more than 25,00 square feet of meeting space, multiple outdoor terraces, spa and fitness center and an outdoor rooftop including a pool overlooking the city. Chicago-based DRW Trading Group is developing the property and designed by architectural firm Solomon Cordwell Buenz. The hotel is slated to open in January 2015.
CHICAGO — An eight-unit apartment property, located at 3801 West Wrightwood Ave., in Chicago has sold for $555,000. The multifamily building, located in the Logan Square neighborhood, is all brick and comprised of eight two-bedroom units. Ryan Engle and James Ziegler of Marcus & Millichap represented the seller, an individual trust. The buyer, a limited liability company, was also represented by Engle and Ziegler.
AURORA, ILL. — Centrust Bank has sold a combined 12,290 square feet of office condominiums at the Fox Valley Office Commons in Aurora. Located at 4260 Westbrook Drive, the Fox Valley Office Commons is a single-story brick building with 21 suites. Tenants include dental, accounting, information technology and engineering offices. NAI Hiffman represented Centrust Bank in the deal.
DES PLAINES, ILL. — Saban Capital has acquired a 239,331-square-foot office building in Des Plaines for $39 million. The FAA Great Lakes regional headquarters and a smaller General Services Administration tenant lease 92.5 percent of the four-story office building. Transwestern’s Chicago office arranged the sale of the property, 2300 East Devon, on behalf of O’Hare Lake Office Park LLC. 2300 East Devon is one of five multi-story buildings within the 50-acre O’Hare Lake Office Park. The property was 94 percent occupied at the time of sale.
OAK BROOK, ILL. — Inland Real Estate Acquisitions and IREIT Business Manager & Advisor, on behalf of Inland American Real Estate Trust, have acquired retail assets in four states totaling $25.5 million. The properties include: Newington Fair, a 186,205-square-foot shopping center located in Newington, Conn., purchased for $17.2 million; and a portfolio of seven Dollar General stores, totaling approximately 63,000 square feet, located in Alabama, Georgia and Tennessee, purchased for $8.3 million. Lou Quilici, senior vice president of IREIT Business Manager & Advisor, facilitated the acquisition of Newington Fair. Joe Cosenza, president of Oak Brook-based Inland Real Estate Acquisitions, facilitated the purchase of the Dollar General stores.
