Midwest

662-UNIT APARTMENT COMPLEX IN URBANA, ILL. HITS THE MARKET

by admin February 7, 2013

URBANA, ILL. — Town & Country Apartments, a 662-unit apartment complex with a 52-unit self-storage facility, has hit the market in central Illinois. The price is open bid and the call for offers is scheduled for Feb. 12. Located at 1032 E. Kerr. Ave. in Urbana, the apartment complex was constructed in five phases beginning in 1968 and ending in 2008. The multifamily property includes 412 one-bedroom units and 250 two-bedroom units. Marcus & Millichap is the listing agent for Town & Country Apartments.

February 7, 2013

Midwest

CREIGHTON UNIVERSITY IN OMAHA TO UNDERGO $12M RENOVATION

by admin February 6, 2013

OMAHA, NEB. — The Opus Group has been awarded a $12 million contract from Creighton University in Omaha to renovate and build an addition to the Harper Center. The addition will create a new home for the university’s college of business. As part of the project, portions of four additional campus buildings will be renovated to accommodate a variety of other academic departments and student services. Originally completed in 2008, approximately one-third of the 220,000-square-foot Harper Center will be remodeled to house Creighton’s College of Business. The project broke ground in late 2012 and is slated for completion by early 2014.

February 6, 2013

Midwest Office

GALLERIA OFFICE PARK IN CHAMPAIGN, ILL. SELLS FOR $1.5M

by admin February 6, 2013

CHAMPAIGN, ILL. — Galleria Office Park, a 16,600-square-foot office complex, has sold for $1.5 million to Urbana, Ill.-based Zimmerman & Clark Holdings LLC. The two-story property, which is located at 2506 Galen Drive in Champaign, was built in 2001. Jay Sikorski of locally based Coldwell Banker Commercial Devonshire Realty represented both the buyer and the seller, Mike Thompson of Thompson Land Co., in the deal.

February 6, 2013

Midwest Multifamily

MARCUS & MILLICHAP ARRANGES SALE OF 12-UNIT APARTMENT FOR $630,000

by admin February 6, 2013

HANOVER PARK, ILL. — Marcus & Millichap has arranged the acquisition of 2470 Leslie Lane, a 12-unit apartment property, for $630,000. The multifamily building includes four 700-square-foot, one-bedroom units and eight 800-square-foot, one-bedroom units. Ryan Engle and Andrean Angelov of Marcus & Millichap represented the buyer and the seller, both private investors, in the transaction.

February 6, 2013

Midwest Retail

11,996 SF CVS BUILDING SELLS FOR $400,000 IN NEW LENOX, ILL.

by admin February 6, 2013

NEW LENOX, ILL. — An 11,996-square-foot CVS building has sold to a private group in Ohio for $400,000. The CVS/pharmacy location is corporately backed with a long-term, triple-net lease. The property was built in 2002 and is located approximately 36 miles southwest of downtown Chicago. Cleveland, Ohio-based Cooper Commercial Investment Group represented the buyer and the seller, a private group out of Illinois, in the deal.

February 6, 2013

Midwest

MJ PARTNERS ARRANGES SALES OF FIVE SELF-STORAGE PROPERTIES FOR $41M

by admin February 5, 2013

CHICAGO — MJ Partners has arranged the acquisitions of five Chicago self-storage properties, including one location with a Walmart Express store, for a combined total of $41 million. Buffalo, New York-based Sovran Self Storage, a public self-storage REIT, purchased four of the self-storage properties, and one property was sold to Chicago-based Harrison Street Real Estate’s Core Property Fund. The portfolio includes: 253,320 rentable square feet of self-storage space with 3,164 storage units; a 15,000-square-foot Walmart Express and 84,586 square feet of commercial space. The portfolio also consists of a combination of new developments and renovations performed by John S. Mengel on behalf of Northfield, Ill.-based JSM Venture Inc. and the Matrix Midwest Storage Fund.

February 5, 2013

Midwest Multifamily

41-UNIT APARTMENT BUILDING IN CHICAGO SELLS FOR $4M

by admin February 5, 2013

CHICAGO — A 41-unit multifamily property located at 6747-67 N. Sheridan Road in Chicago has sold for $4 million to an investment group. The apartment complex is three blocks away from Loyola University and is within close proximity to public transportation and Lake Michigan. The property also includes three leased commercial spaces and 28 garage parking spaces. The Kiser Group represented the buyer and the seller, a land trust, in this deal.

February 5, 2013

Midwest Multifamily

SPERRY VAN NESS ARRANGES SALE OF APARTMENT BUILDING FOR $2.4M

by admin February 5, 2013

CHICAGO — Sperry Van Ness has arranged the sale of 112. S. Sangamon St., a five-unit multifamily property located in Chicago’s Wrigleyville neighborhood, for $2.4 million. The property, which was renovated in 2009, was fully occupied at the time of sale. Jeff Baasch of Sperry Van Ness executed the sale.

February 5, 2013

Midwest Multifamily

MARCUS & MILLICHAP ARRANGES SALE OF 12-UNIT APARTMENT BUILDING FOR $1.03M

by admin February 5, 2013

DOWNERS GROVE, ILL. — Marcus & Millichap has arranged the sale of 5140 Fairview Ave., a 12-unit apartment property, for $1.03 million. The property includes 12 two-bedroom units and features onsite laundry and 20 parking spaces. The multifamily complex is located in Downers Grove, about 22 miles west of Chicago. Ryan Engle and Andrean Angelov of Marcus & Millichap represented the seller, a private investor, and the buyer, a limited liability company.

February 5, 2013

Industrial Midwest

GLG INTERNATIONAL PURCHASES CHICAGO INDUSTRIAL BUILDING FOR $3.8M

by admin February 4, 2013

CHICAGO — GLG International has acquired a 38,000-square-foot industrial building in Chicago, for $3.8 Million. GLG purchased the property, which is located at 2300 W. Lake St., to accommodate the company’s expansion. Built in 2000, the building features 12,000 square feet of cooler and 2,400 square feet of freezer space. Mark Nelson and Michael Nelson of locally based NelsonHill represented GLG. John Joyce, Ryan Phillips and Chris Ricketts of Newmark Knight Frank Epic represented the seller, J & S Produce, in this deal.

February 4, 2013

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