JOLIET, ILL. — WAP LLC has purchased a 12,551-square-foot office building for $1 million in Joliet, located about 40 miles southwest of Chicago. The two-story building, which offers medical office space, parking and easy access to I-80, was sold by Houbolt LLC. The building is located at 370 Houbolt Road. Adam Johnson of NAI Hiffman represented Houbolt LLC in the transaction.
OREGON, OHIO — Premier Design + Build Group LLC has completed construction on a 10,636-square-foot medical building in Oregon, a southeast suburb of Toledo. The facility includes two ambulatory surgery procedure rooms, recovery and therapy areas and private ultrasound and massage areas. DECA Health occupies the building, located at 846 S. Coy Road.
CHICAGO — Jones Lang LaSalle was named the new leasing agent for a 142,000-square-foot industrial facility located at 1400 Harris Road. New Jersey-based real estate investment firm The Silverman Group owns the building. The building is one of two buildings in the Liberty Point Corporate Center and has 110,427 square feet of available space. Tenants include Culligan International Co., Tire Centers LLC and Laser Precision. The building was constructed in 2007 and includes 11 dock doors, ESFR sprinklers, parking for 218 cars and 26-foot ceiling clears.
DULUTH, MINN. — The original Duluth Fire House No. 1 on Third Street has become an affordable housing apartment complex, following a $12 million renovation. The project included renovating the old arched fire hall to create a 40-unit complex called The Firehouse and Firehouse Flats. The units feature open floor plans, energy-efficient appliances including washer/dryer units and island kitchens. Several units are designated for residents who have experienced chronic homelessness. Community amenities include a fitness center and storage. MetroPlains LLC developed the project. The Greater Minnesota Housing Fund provided $3.5 million for the project and Minnesota Housing secured $1.4 million in financing. A partnership between UnitedHealthcare and U.S. Bank provided $7.1 million in Low Income Housing Tax Credit equity for the project.
CHARLEVOIX, MICH. — Bernard Financial Group has arranged a $3.6 million loan for Captain’s Corners, an 88,780-square-foot retail strip center in Charlevoix. The borrower is Captain’s Corner LLC. Dennis Bernard and David Dismondy of Bernard Financial originated the loan. The lender was StanCorp Mortgage Investors LLC.
CHICAGO — A 13-unit multifamily property in downtown Chicago has sold to a local investor for $1.5 million. The building, located at 945-947 W. Cullom Ave., includes one- and two-bedroom units and a laundry facility. The property also had capital improvements made to it 11 years ago, which include a new roof, boiler, windows, vertical plumbing and new wiring to units. Kyle Stengle of Marcus & Millichap represented the buyer and the seller, a personal trust, in the deal.
CHICAGO — The Boulder Group has arranged the sale of a ground-leased Walgreens property in Chicago for $1.1 million. The 10,890-square-foot property is located at 3136 W. 55th St. and is less than three miles from Midway International Airport. Walgreens has approximately 13 years remaining on its lease.
ROCHELLE, ILL. — Del Monte has signed a lease for 312,750 square feet of industrial property in Rochelle, located about 80 miles west of Chicago.Del Monte has expanded their current lease by 104,008 square feet. Jim Planey and Jeff Janda of Lee & Associates represented Del Monte and the landlord, PAR Industrial, in the deal. Del Monte is a manufacturer and marketer of processed foods sold to a variety of food retailers.
TOLEDO, OHIO —Marketplace Executive X LLC has purchased Executive Marketplace in Toldeo for $3.2 million. Executive Marketplace LLC sold the 39,710-square-foot retail strip center, located at 3550 Secor Road. Joe Belinske of Reichle | Klein Group represented both the seller and buyer in the deal.
HUNTLEY, ILL. — ACG Equities has purchased Huntley Crossings, a 28-acre development site located at Route 47 and Powers Road in Huntley, for $2.5 million. Although large-scale retail development is not likely in the near future, development in the back portion of the site should occur in the next few years, according to Transwestern, which brokered the sale. During the marketing period, Route 47 was widened and construction began on a new interchange at I-90. Both projects are expected to increase daily traffic counts at the site.
