RACINE, WIS. — Leonard Investments LLC has purchased an industrial property, which is located at 2301 S. Memorial Drive in Racine. R&D Terminals sold the 13,000-square-foot property for an undisclosed price. Brian Parrish of The Dickman Company/CORFAC International brokered the transaction.
HASTINGS, NEB. — NorthMarq Capital has arranged a $6.5 million first mortgage loan on behalf of College View Assisted Living LLC for College View in Hastings. The assisted-living facility offers 58 residential units. Financing was based on a 35-year term with a 35-year amortization schedule. Gary Rifkin of NorthMarq arranged the loan through the company’s relationship with Johnson Capital FHA.
CRESTWOOD, ILL. — Burlington, N.J.-based Burlington Coat Factory has signed a lease to occupy 70,000 square feet of space at the corner of Cicero Avenue and Calumet Sag Road in Crestwood. The new store is expected to open in August and will co-anchor Mid-America Asset Management’s 175,427-square-foot retail center at the site. Mary Beth Menelli and Richard Spinell provided in-house representation for Mid-America; Brad Gershman of Gershman, Brown & Crowley represented the tenant in the transaction. Terms of the lease were not released.
LEMAY, MO. — Yates/Paric has completed the construction of River City Casino, a $375 million casino project located in Lemay. Situated along the Mississippi River, the 90,000-square-foot casino offers more than 2,000 slot machines, approximately 55 table games, a restaurant, food service areas and entertainment venues. The project is owned and developed by Pinnacle Entertainment. Yates/Paric is a joint venture between Philadelphia-based W.G. Yates & Sons Construction Co. and St. Louis-based Paric Corp.
CHICAGO — McShane Construction Co. is nearing the completion of Casa Maravilla, a five-story, 70,000-square-foot senior-living project in the Pilsen neighborhood of Chicago. Located at 2021 S. Morgan St., the 73-unit complex will offer studio, one- and two-bedroom affordable rental units, a dining area, a community room, a therapy room, a library and a recreation room. Weese Langley Weese provided architectural services for the project, which is slated for completion in June. The Resurrection Project is developing the property.
DOWNERS GROVE, ILL. — ASA Properties LLC and Chicago-based Stage Equity Partners LLC are planning to convert 1001 West 31st Street into a Class A medical office building, leveraging on the building’s proximity to Advocate Good Samaritan Hospital. Located in Downers Grove, the two-story, 49,265-square-foot building offers floor plates of approximately 20,600 square feet. Additionally, the property offers more than 5,000 square feet of lower-level conference/training center and cafeteria space.
MATTESON, ILL. — Leopardo, serving as construction manager, is currently constructing a 73,000-square-foot community center on a 19.3-acre site in Matteson. The $24 million facility will include an indoor competition pool, a gymnasium, locker rooms, a youth dance studio, spa rooms, a salon, pre-school, childcare rooms, multi-purpose rooms and meetings rooms. Additionally, the project includes a spray pool, a running track, a football stadium, two baseballs fields, a soccer field, three tennis courts, two basketball courts, a storage garage and four parking lots. William E. Brazley & Associates is providing architectural services and Greenwood Management Partners is servicing as the owner’s representative and community liaison. Completion is scheduled for the end of the year.
RIVERSIDE, ILL. — James McHugh Construction Co. has completed a $64 million renovation and expansion project at Riverside Brookfield High School, which is located at 160 Ridgewood Road in Riverside. The project included a new music center, a new vocational education building, upgraded classrooms, a new swimming pool, a new academic and administrative wing, a new student commons area and a new field house. Additionally, James McHugh renovated and refigured the remainder of the school by expanding the cafeterias and library and improved the computer labs, auditorium, theater and main gymnasium.
INDIANAPOLIS — An affiliate of Chicago-based LT Group has purchased CityView of Meridian, formerly known as Summit House Apartments, in Indianapolis. The 20-story, high-rise property offers 166 residential units. Located at the corner of 38th and Meridian streets, the complex features a rooftop swimming pool and skyline views. The buyer plans to upgrade many of the apartments, renovate the lobby, tenant amenity center and coffee bar, and replace the windows and redesign the canopy. The Indianapolis-Cincinnati Multi-Housing group of CB Richard Ellis negotiated the transaction. The property fell into receivership last year and was listed at $6.95 million. Additional terms of the sale were not disclosed.
ST. LOUIS COUNTY, MO. — Bethesda Health Group has selected St. Louis-based Paric Corp. to lead a $15 million expansion project at its South St. Louis County campus. The project includes a 64,000-square-foot addition to the existing campus on Telegraph Road. The campus offers multiple levels of care, including rehabilitation, therapy and adult daycare services. Gray Design Group provided architectural services for the project, which is scheduled for completion in early 2011. Engineering services were provided by Civil Engineering Design Consultants, KPFF Consulting Engineers and G&W Engineering Corp.