CHICAGO — A private investor has acquired a single-tenant retail property in Chicago’s Pilsen neighborhood. Situated on a 12,000-square-foot site at 1709 W. 18th St., the property sold for $3 million. Evan Halkias and Michael Marks of Marcus & Millichap represented the undisclosed seller and buyer in the transaction.
Midwest
CHICAGO — Chicago Industrial Real Estate has closed three deals in Chicago. In the first transaction, Ben Shapiro purchased a 6,520-square-foot industrial property at 438 W. 43rd St. in Chicago for an undisclosed price. Matt Rogatz and Colin Green of Chicago Industrial Real Estate represented the seller, WHL Properties, in the transaction. In the second transaction, Rogatz and Green represented landlord 5701 Claremont Building Corp. in the lease transaction of 13,500 square feet at 2301 W. 57th St. in Chicago. Rusber Garcia leased the space for an undisclosed price. Finally, New Jersey-based National Mirco Rental leased 5,500 square feet of industrial space at 2101 S. Peoria in Chicago. Rogatz and Cesar Alvarez of Chicago Industrial Real Estate represented the undisclosed owner; Tracy Gola of Prudential Rubloff Properties represented the tenant in the transaction.
CHICAGO — Chad Freese and David Saad of CB Richard Ellis represented DePaul University in its relocation to 38,000 square feet at Triangle Plaza, which is located at 8770 W. Bryn Mawr Ave. in Chicago. Slated to open in September, the new facility will offer 20 classrooms, including one equipped with personal computers, computer labs, student-support offices, administrative offices, student lounge space and a campus library and resource center. The university is relocating from its current location at 3166 River Road in Des Plaines, Ill.
PINCKNEYVILLE, ILL. — Pinckney Community High School District #101 has selected Swansea, Ill.-based Holland Construction Services to construct a new 54,000-square-foot school in Pinckneyville. Slated to break ground in spring 2011, the new structure will replace two existing buildings, which currently house 470 students in pre-kindergarten and grades nine through 12. The project will renovate the existing gymnasium that will feature a newly installed heating, ventilation and air conditioning system. Additionally, the new structure will house 500 students and offer science rooms with a lab and preparation room, art classrooms with a darkroom, a home economics and food lab, computer and tech labs, a pre-kindergarten classroom, a media center, a girl’s gymnasium and locker rooms, restrooms, general classrooms, special education classrooms with office and restroom spaces, and administrative and guidance offices for the high school and district. The project will also feature a nurse’s office, a teacher’s workroom, storage and mechanical rooms, an elevator and a cafeteria, a kitchen and a cafetorium with a moveable stage. Steeleville, Ill.-based Mevert Professional Associates is providing architectural services for the project.
PLEASANT PRAIRIE, WIS. — Emco Chemical Distributors Inc. has acquired a 259,580-square-foot industrial warehouse building in Pleasant Prairie for an undisclosed price. Located at 8601 95th Ave. within LakeView Corporate Park East, the property is a rail-served manufacturing/warehouse built in 1991 with additions in 1997. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham brokered the transaction. The seller was Hexion Specialty Chemicals Inc.
WHEATON, ILL. — Des Moines, Iowa-based Life Care Services (LCS) has purchased Wyndemere Senior Living Community in Wheaton. The property’s former owner, Central DuPage Hospital, selected LCS to purchase and improve the community. Located at 200 Wyndemere Circle, the property serves adults in Chicago’s western suburbs. Terms of the acquisition were not disclosed.
TROY, MICH. — BeneSys Inc. has inked a deal for 29,937 square feet of office space at 700 Tower Drive in Troy. BeneSys is a provider of administrative and informative technology services to clients. Steve Morris of Newmark Knight Frank negotiated the lease on behalf of tenant. The landlord and terms of the lease were not released.
OAK BROOK, ILL. — An out-of-state private investor has acquired Midwest Plaza South, an office building located at 2021 Midwest Road in Oak Brook. The 55,993-square-foot, multi-tenant property sold for $6.65 million or $120 per square foot. The property has maintained a median occupancy of 95 percent during the past 10 years. Howard Wiese and Rasto Gallo of Marcus & Millichap’s Chicago office brokered the transaction, which was an all-cash 1031 exchange. The seller was not disclosed.
BLOOMFIELD HILLS, MICH. — Woodhills Properties has purchased the former Republic Bank Building in Bloomfield Hills. Located at 40700 Woodward Ave., the property offers 29,307 square feet of office space. LBUBS 2005-C2 Bloomfield Hills LLC sold the property for an undisclosed price. Todd Hawley and Barry Swatsenbarg of Friedman Real Estate Group represented both parties in the transaction.
SOUTHFIELD, MICH. — Hendricks & Partners has brokered the sales of two North Park Place properties in Southfield. In the first transaction, a private investment group acquired North Park Place (16400 Building), which is located at 16400 N. Park Place Dr. in Southfield. The 79-unit apartment community sold for an undisclosed price. The seller was Philadelphia-based North Park Place Owner A LLC/North Park Place Owner B LLC/North Park Place Owner C LLC. Kevin Dillon of Hendricks & Partners’ Michigan office represented the seller in the transaction. In the second transaction, North Park Place (16300 Building) was sold for $2.2 million to an undisclosed entity. Located at 16300 N. Park Dr., the apartment property offers 127 units. The property was sold through a court-appointed receiver, Troy, Mich.-based The Hayman Company. The seller was Troy-based AG-BR NPP 16300A OWNER LLC/AG-BR NPP 16300B OWNER. Cary Scott Belovicz and Dillon of Hendricks’ Michigan office represented the seller in the transaction.