CHICAGO — American Hospital Association (AHA) recently moved into its new 180,000-square-foot headquarters at 155 North Wacker Drive in Chicago. Seeking LEED-Silver certification, the newly finished space was designed by Partners by DESIGN. Leopardo Cos. served as general contractor for the property. The property features state-of-the-art mechanical, electrical and plumbing systems and a data center.
Midwest
ALTON, ILL. — Swansea, Ill.-based Holland Construction Services is currently renovating a six-story, 70,000-square-foot office building for the law offices of Simmons Browder Gianaris Angelides & Barnerd in Alton. The renovation of the 39-year-old former Smurfit-Stone Container Corp., which is located at One Court Street, includes complete removal of the existing single-pane glass walls, the creation of additional employee and visitor parking and the construction of an open cubicle area, 75 to 80 offices, a deposition room and a server room. Simmons will consolidate seven separate office locations into the new facility. Glen Carbon, Ill.-based Hurford Architects designed the project, which is seeking LEED certification.
FAIRVIEW HEIGHTS, ILL. — Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, has funded a $17.88 million loan for Longacre Ponds, a 252-unit apartment complex located in Fairview Heights. The 10-year, Fannie Mae DUS loan has a 30-year amortization schedule and carries note rate of 5.68 percent. Patrick McNulty of Arbor's Chicago office originated the loan for the undisclosed borrower.
SHERMAN, ILL. — Cambridge Realty Capital Cos. has closed on a $10.02 million FHA-insured HUD LEAN mortgage for Villa Health Care, a 212-bed skilled nursing and assisted-living facility in Sherman. The property has 99 skilled-nursing beds and 113 assisted-living beds. The loan was financed using HUD's 232(a)7-LEAN program. Cambridge Realty Capital Ltd. of Illinois arranged the fully-amortized, 30-year loan loan for the borrower, an Illinois not-for–profit corporation.
JACKSON, MICH. — Royal Oak, Mich.-based Alpine Lake LLC has acquired Alpine Lake, a 268-unit multifamily community in Jackson. Located at 665 N. Alpine Lake Drive, the property sold for $4.6 million. Constructed in 1988, the 34-building complex surrounds a central lake. The seller was Wells Fargo Bank N.A. Successor by Merger to Wells Fargo Bank MN N.A. (FKA Norwest Bank MN, National Association) as Trustee for the Registered Holders of GMAC Commercial Mortgage Securities Inc., Mortgage Pass-Through Cert, series 1999-C1 of Dallas. Kevin Dillon and Cary Scott Belovicz of Hendricks & Partners' Michigan office represented the buyer.
MONCLOVA TOWNSHIP, OHIO — Willis Day Properties has completed the disposition of an industrial property in Monclova Township. Situated on 15.41 acres at 6515 Maumee Western Road, the property offers 107,660 square feet of space. The buyer and acquisition price were not released. Robert Mack of Signature Associates represented the seller in the transaction.
DULUTH, MINN. — Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, has funded a $2.6 million loan for the 107-unit Summit Breckenridge Apartments in Duluth. The financing was arranged under the Fannie Mae DUS Small Loan product line. The 10-year loan has a 30-year amortization schedule and carries a note rate of 5.75 percent. Ted Nasca of Arbor's Chicago office originated the loan.
CRYSTAL LAKE AND AURORA, ILL. — Marc Rubin of Zifkin Realty Group represented Monkey Joes, a children's entertainment center, in two lease transactions. The company leased 15,122 square feet at Crystal Lake Shopping Center in Crystal Lake and 16,360 square feet at Yorkshire Plaza in Aurora. Scott Tucker of Kimco Realty represented the undisclosed landlord in both transactions.
CHICAGO — Nanuet, N.Y.-based Berkley Properties has acquired 180 North LaSalle Street, an office tower located in Chicago's central business district, for an undisclosed price from Prime Group Realty Trust. Situated at the corner of Lake and LaSalle streets, the 38-story tower offers 770,191 square feet of rentable office space. Chicago-based Accenture and Paris-based Publicis currently anchor the property. The building underwent a complete renovation of its lobby and three-story facade in 2000. Brian Whiting, Jack McKinney Jr. and Matt Pistorio of J.F. McKinney & Associates represented the buyer in the transaction.
MINNETONKA, MINN. — Opus Holding and its subsidiary, Opus Design Build, have acquired substantially all of the construction and design-build assets of Opus Northwest and its subsidiary, Opus Northwest Construction. The asset portfolio includes a variety of third-party design-build construction projects. The new structure for the company includes Opus North Corp., which will serve as a full service commercial real estate development company headed by Tom Shaver, and Opus Design Build, which will complete Opus Northwest construction projects currently in progress and will pursue new projects with Opus North Corp. Opus Design Build will be headquartered in Minnetonka and headed by Dave Bangasser.