Midwest

52,000-SQUARE-FOOT FITNESS CENTER PLANNED IN CHICAGO

by admin March 28, 2011

CHICAGO — Fitness Formula Clubs (FFC) has selected McShane Construction Co. to construct a 52,000-square-foot FFC West Loop fitness center within Presidential Towers at 10 S. Clinton St. in Chicago. Occupying the first and third floors of the property, the fitness center will feature cardio and strength training areas, Pilates and yoga studios, group fitness studios, high-end locker rooms day spa and airbrush tanning areas, a Kids Club center, a retail Sports Shop, the Protein Bar Cafe and NovaCare Physical Therapy. The facility will also feature a 75-foot indoor junior Olympic, six-lane lap pool and an outdoor recreation pool with a lounge/sundeck, bar area and fire pit. McShane will complete approximately 31,200 square feet of new construction and 20,800 square feet of extensive renovations. Antunovich Associates is providing architectural services for the project, which is slated for completion this summer.

March 28, 2011

$20.25 MILLION RETAIL LOAN ARRANGED IN OMAHA, NEB.

by admin March 28, 2011

OMAHA, NEB. — Newmark Realty Capital has arranged a $20.25 million loan for a power center in Omaha. The 243,456-square-foot retail center is anchored by Best Buy, Sports Authority and Michaels. George Mitsanas and Ted Norman of Newmark arranged the financing for the undisclosed borrower.

March 28, 2011

Midwest Mixed-Use

NORTHMARQ CAPITAL ARRANGES HOTEL LOAN IN MISSOURI

by admin March 28, 2011

CHESTERFIELD, MO. — NorthMarq Capital has arranged first mortgage financing for Drury Plaza in Chesterfield. The 274-room hotel is located at 355 Chesterfield Center East. Financing was based on a 10-year term and a 25-year amortization schedule. Jeff Chaney of NorthMarq's St. Louis regional office secured the financing through NorthMarq's relationship with a correspondent life insurance company. Additional terms of the loan were not released.

March 28, 2011

Midwest Multifamily

256-UNIT MULTIFAMILY PROPERTY SELLS FOR $18 MILLION IN INDIANA

by admin March 25, 2011

AVON, IND. — Thiemann Real Estate has acquired Washington Quarter Apartments in Avon. The 256-unit, Class A multifamily property sold for $18 million. Constructed in 1999 and currently 95 percent occupied, the property features one-, two- and three-bedroom units, a clubhouse with a fitness room, billiards room and a swimming pool, a car wash station, a sand volleyball court, a basketball court and a picnic area. Kevin MacKenzie and Jon Everson of Holliday Fenoglio Fowler (HFF) represented the buyer; John Sebree and David Keller, also of HFF, represented the seller, Crossmann Properties LLC, in the transaction.

March 25, 2011

Midwest Office

12,500-SQUARE-FOOT OFFICE PROPERTY SELLS IN ILLINOIS

by admin March 25, 2011

AURORA, ILL. — Syndicated Equities has acquired a single-story office building in Aurora for an undisclosed price. Located at 1325 N. Lake St., the 12,500-square-foot property is fully occupied by the Social Security Administration. Additional terms of the transaction were not released.

March 25, 2011

Midwest Mixed-Use

ASCENDANT HOLDINGS TAKES MULTI-USE BUILDING IN WISCONSIN

by admin March 25, 2011

WEST BEND, WIS. — Madison, Wis.-based Ascendant Holdings has acquired a 21,534-square-foot multifamily, office and retail building in downtown West Bend for an undisclosed price. Originally constructed in 1893, the property is currently occupied by Robert W. Baird & Co. and Cafe Soeurette. Patrick Gallagher and Matson Holbrook of Siegel-Gallagher Inc. represented the seller, Sheoygan, Wis.-based Community Bank & Trust, in the transaction.

March 25, 2011

Midwest Multifamily

TWO MULTIFAMILY PROPERTIES SELL IN CHICAGO FOR $2.64 MILLION

by admin March 24, 2011

CHICAGO — Essex Realty Group has brokered two multifamily sales totaling $2.64 million in Chicago. In the first sale, Essex's Doug Fisher brokered the sale of a vintage apartment building in Chicago's Rogers Park neighborhood. Located at 1546 W. Jonquil Terrace, the 27-unit property sold for approximately $1 million. The building offers nine studio units, 17 one-bedroom units and one two-bedroom units. The buyer and seller were not disclosed. In the second transaction, Essex's Doug Imber negotiated the $1.64 million sale of a 41-unit vintage apartment building, located at 6818 N. Wayne in Chicago's Rogers Park neighborhood. The building consists of 39 studio units and two one-bedroom units. The seller and buyer were not released.

March 24, 2011

Midwest Multifamily

65-UNIT MULTIFAMILY PROPERTY SELLS IN CHICAGO'S SOUTH SHORE DISTRICT

by admin March 24, 2011

CHICAGO — Marcus & Millichap has brokered the sale of a 65-unit multifamily property located at 7733 South Shore Dr. in Chicago's South Shore neighborhood. An undisclosed buyer acquired the property for $1.65 million or $25,461 per unit. Build in 1968, the building offers studio, one- and two-bedroom units and available on-site parking. Eric Bell of Marcus & Millichap represented the undisclosed seller in the transaction.

March 24, 2011

Midwest Retail

5,797-SQUARE-FOOT RETAIL BUILDING TRADES HANDS IN MICHIGAN

by admin March 24, 2011

MANCELONA, MICH. — Friedman Integrated Real Estate Solutions has negotiated the sale of a retail property, which is located at 611 N. Williams St. in Mancelona. Land Holdings LLC sold the 5,797-square-foot building to Midwest Properties LLC for an undisclosed price. Paul Feldman of Friedman represented the seller in the transaction.

March 24, 2011

Midwest Multifamily

Q10|DAISLEY RUFF ARRANGES $5.85 MILLION MULTIFAMILY LOAN IN NEBRASKA

by admin March 24, 2011

OMAHA, NEB. — Steve Ruff of Q10|Daisley Ruff Financial has arranged a $5.85 million loan for an apartment building in Omaha. The multifamily property offers 156 apartment units. The loan features a 15-year, fixed rate under 4 percent.

March 24, 2011

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