CHICAGO — Bass Realty 3 LLC has purchased a 50-unit apartment property in Chicago for $2.4 million. Located in the heart of Albany Park, the property is currently 65 percent occupied. Matt Welke of Essex Realty Group represented both the buyer and seller in the transaction.
CHICAGO — Summit Design + Build LLC has completed a 14,500-square-foot build-out of office space for Applegate & Thorne-Thomsen P.C., a law firm spanning the entire fourth floor of 626 W. Jackson Blvd. in Chicago's West Loop. The new office includes private offices, conference rooms, a reception area and exposed brick. Applegate & Thorne-Thomsen marks the fifth build-out Summit has completed within the 626 W. Jackson building in the past 18 months. The firm has also completed build-outs for Thompson Flanagan, Sterling Bay Cos., Rightpoint and Schuman and Schuman, Simon & Grodecki Ltd. Summit & Design + Build's Dave Mooney, Pat Lynn and Rodger Meyer were responsible for the on-site construction of the law firm. Fitzgerald Earles Architects and Associates was the architect for the project.
NEW BERLIN, WIS. — Reynolds Machine Co. has leased 100,520 square feet of industrial space at 17005 W. Ryerson Rd. in New Berlin from First Industrial Realty Trust. Ryan Kopp and Steve Sewart of Inland Cos. represented the landlord in the transaction.
NORTH JACKSON, OHIO —Marcus & Millichap has brokered the $12.4 million sale of a 307,315-square-foot distribution facility in North Jackson that is net-leased by the Gerdau Corp., a long steel production company. The lease has five years remaining. John Godwin, Deno Bistolarides and Ryan Vinco of the Detroit office of Marcus & Millichap represented the buyer and seller. The property is located at 382 Rosemont Rd.
FORT WAYNE, IND. — Wochinske Investments LLC has purchased 11,500 square feet of industrial space at 2720 Goshen Rd. in Fort Wayne. The sales price was undisclosed. Carolyn Spake-Leeper and Karen Spake of CBRE / Sturges represented the seller, RMD Resources LLC, in the transaction. They also represented the buyer.
CHICAGO — The Hearn Co. has purchased 55 W. Monroe in Chicago from LaSalle Investment Management for $136 million. The 803,000-square-foot, 40-story office tower was once known as the Xerox Center. The new owner plans to make street-level changes to the entries and upgrade the property's amenities and common areas. Bruce Miller, Jim Postweiler, David Hendrikson, Keith Largay, Jascint Vukelich and Nooshin Felsenthal of Jones Lang LaSalle represented Hearn in the transaction. The brokerage also secured acquisition financing of $108 million: $86.5 million in senior debt through Wells Fargo Bank and $21.5 million in mezzanine facility through Redwood Trust.
LINCOLNWOOD, ILL. — Podolsky Northstar CORFAC International has negotiated the sale of two mortgage notes that are secured by the property formerly known as the Purple Hotel in Lincolnwood. The value of the transaction was undisclosed. North Capital Group, a holding entity for two local investment and management firms, acquired the notes from the seller, First Midwest Bank. The property is located at the intersection of Touhy and Lincoln avenues and is situated on a 5-acre site. Randy Podolsky and Adam Tarantur of Podolsky represented First Midwest Bank in the transaction. The future plans for the site are not known.
CHICAGO — MetLife Inc. has purchased the 29-story EnV apartment tower in Chicago for a reported $125 million. The seller, Lynd Development Partners, developed the 249-unit tower, which is across the street from the Merchandise Mart in the North Loop. The tower includes one- and two-bedroom apartments and 27,000 square feet of retail and restaurant space. CBRE’s Chicago office represented the seller in the transaction.
BROADVIEW, ILL. — TK Simplex, a hydraulics manufacturer, has sold its 104,000-square-foot facility, located at 2525 Gardner in Broadview. Timoth Cahill, Robert Tamillio and Chase Macleod of UGL Services secured the undisclosed buyer. At the same time, TK Simplex relocated its administrative, sales and lab testing offices to 777 Oakmont Lane in Westomont. Jim Whiteside of Heartland Commercial represented the landlord, UBS REIT, in the lease deal. Cahill, Tamillio and Macleod represented TK Simplex.
FENTON, MO. — Control Devices LLC, a leading valve manufacturer, has signed a lease for a 98,949-square-foot office/warehouse building, located at 155 Larkin Williams Dr. in Fenton. Partick Reilly of Gateway Commercial, Cushman & Wakefield Alliance represented the tenant in the lease negotiations. The Johnson Group represented the owner, TJC Partners LLC.
