Midwest

CRYSTAL LAKE, ILL. — The Boulder Group has brokered the sale of a 3,216-square-foot building located at 5745 Northwest Highway in Crystal Lake that is net-leased to PNC Bank. The property traded for $2.68 million. Randy Blankstein and Jimmy Goodman of Boulder represented both undisclosed, Chicago-based parties in the deal.

HOFFMAN ESTATES, ILL. — DeBartolo Development has entered the Chicagoland market with its acquisition of Prairie Stone Crossing, a 61,000-square-foot shopping center located in Hoffman Estates. The property is situated at the intersection of New Sutton Road and Hoffman Boulevard, adjacent to Prairie Stone Business Park. The center comprises a 42,000-square-foot Sports Authority; a 12,000-square-foot, multi-tenant building; and a 6,000-square-foot retail/restaurant building. Occupancy was 80 percent at the time of the closing. The purchase was made on behalf of DeBartolo Opportunity Fund I at a 49 percent discount to the property's outstanding loan balance. The seller's name was not released.

EAST PEORIA, ILL. — Homewood, Ill.-based Graycor Construction Co. is nearing completion for the newest Bass Pro Shops retail location. The 140,000-square-foot project is under construction in East Peoria. In addition to retail space, it will feature a restaurant, a bowling alley, a nature center and a boat showroom and service center. Completion is expected this summer. The store marks the fifth location Graycor has built for the retailer.

ST. CHARLES, MO. — A joint venture between New York-based Cohen Commercial Properties and New York-based DRA Advisors has purchased the 300,000-square-foot Mark Twain Shopping Center, located in St. Charles. The open-air center is anchored by Bass Pro Shops, Gordman's Department Store and Aldi's Supermarket. Local, regional and national tenants and 7 restaurants are included in the property. There is also approximately 30,000 square feet of vacant space and the potential to develop over 4 acres of adjacent land.