ST. PAUL, MINN. — St. Louis Park, Minn.-based RJM Construction is currently renovating a 190,000-square-foot space at the Metro Square Building, the former Emporium department store in St. Paul. Now owned by Ramsey County, Minn., the space is being renovated for county office use. The project is scheduled for completion in November. BWBR Architects and Dunham Associates engineers are providing services for the project.
TINLEY PARK AND VERNON HILLS, ILL. — Oak Brook, Ill.-based Krusinski Construction Co. has completed two medical office building properties in Illinois. In Tinley Park, Krusinski completed a 37,800-square-foot medical office building expansion for Pronger Smith MedicalCare in Tinley Park. The addition includes a MRI, a CT, physical therapy and treatment rooms, pediatric exam rooms, a sleep lab and an OB suite. The second phase of the project, which is scheduled for completion February, will feature the renovation of the existing reception/registration waiting area, construction of a new pathology lab, a blood draw area, a EKG room, a new executive suite and a new opthamology area. Project partners include Irgens Health Care Facilities Group and Brubaker Architects. In Vernon Hills, Krusinski completed the construction of a 30,000-square-foot facility, located at 701 Woodlands Parkway, for Children's Physician Group. The new facility features 30 exam rooms, approximately 20 dedicated offices, support space, conference rooms, four specialty procedure rooms and a nurse's station. Irgens Development Partners served as the tenant representative and construction manager, Brubaker Architects served as project architect and Krusinski served as design/build contractor.
HILLSBORO, ILL. — Cambridge Realty Capital Cos. has provided a $2.16 million FHA-insured HUD LEAN loan to refinance the Hillsboro Rehabilitation and Health Care Center. The 107-bed skilled nursing facility is located at 1300 E. Tremont St. in Hillsboro. The fully amortized, 26-year term loan was underwritten by Cambridge Realty Capital for the borrower, a Missouri-based limited liability company.
SWANSEA, ILL. — Locally based Holland Construction Services is nearing completion on the construction of Villas at Crystal Lake, a $26 million multifamily community being developed in Swansea. The three-story, 211,000-square-foot building will offer a variety of one- and two-bedroom floor plans. Additionally, the property will feature 36 fully enclosed garages, a resort-style swimming pool and a clubhouse offering a community room, a gas fireplace, a state-of-the-art fitness center and a 24-hour business center. St. Louis-based Mills Properties will manage the property. Swansea-based EWR Associates provided architectural services and Belleville, Ill.-based Berutti & Associates served as civil engineer for the project.
CHICAGO — ML Realty Partners has acquired a 162,915-square-foot industrial building in Chicago. Situated on 9 acres at 929 Exchange Ave., the facility is 100 percent occupied. Victor DeBoer and Pat Shannon of Darwin Realty and Development represented the buyer. The seller and acquisition price were not released.
MILWAUKEE — Berkadia Commercial Mortgage has originated $42.35 million in permanent, fixed-rate financing for the construction of The Moderne, a high-rise multifamily property located at 1141 Old World Third St. in Milwaukee. The 90-percent loan-to-value loan features a 40-year term and a 40-year amortization schedule with a fixed rate of 5.11 percent. Upon completion, the 30-story property will feature 203 rental units and 181 covered parking spaces in six above-ground levels and a lower level. Tom Sigrist of Berkadia originated the loan for the borrower, Milwaukee Moderne LLC. The loan was financed through Berkadia's HUD/FHA program.
KIRKWOOD, MO. — Mark One Capital, a subsidiary of Marcus & Millichap, has arranged a $6.27 million loan for a 112-uni multifamily property in Kirkwood. The The 10-year loan has a 30-year amortization schedule, a fixed interest rate of 5.54 percent and an 80 percent loan-to-value. Charles Sosa of Mark One Capital and Jim Sotos of Marcus & Millichap arranged the loan.
BURR RIDGE, ILL. — Woodridge, Ill.-based Morgan/Harbour Construction has completed a 32,065-square-foot warehouse expansion for Dik Drug Co. Located at 160 Tower Dr. in Burr Ridge, the expansion includes five exterior docks, one drive-in door and 28-foot clear ceiling heights. Cornerstone Architects provided architectural services and Jacob & Hefner served as civil engineer for the project.
MELROSE PARK, ILL. — Darwin Realty & Development Corp. has completed the sale of an industrial building in Melrose Park. Power Plant Services Corp. purchased the 31,360-square-foot building, which is located at 3201 Soffel Ave., for an undisclosed price. The property features 18-foot ceiling clearance, three interior docks and 4,500 square feet of office space. Daniel Fanelli and Anthony Leeds of Darwin Realty represented the undisclosed seller and buyer in the transaction.
LYONS, ILL. — A private individual has acquired Riverside Trail Apartments in Lyons. The 60-unit multifamily property sold for $3.51 million or $58,500 per unit. The property is located at 7860 W. Ogden Ave. James Clough of Marcus & Millichap represented the buyer; Ryan Engle of Marcus & Milichap's Oak Brook, Ill., office represented the seller.