CHICAGO — ML Realty Partners has acquired a 162,915-square-foot industrial building in Chicago. Situated on 9 acres at 929 Exchange Ave., the facility is 100 percent occupied. Victor DeBoer and Pat Shannon of Darwin Realty and Development represented the buyer. The seller and acquisition price were not released.
Midwest
MILWAUKEE — Berkadia Commercial Mortgage has originated $42.35 million in permanent, fixed-rate financing for the construction of The Moderne, a high-rise multifamily property located at 1141 Old World Third St. in Milwaukee. The 90-percent loan-to-value loan features a 40-year term and a 40-year amortization schedule with a fixed rate of 5.11 percent. Upon completion, the 30-story property will feature 203 rental units and 181 covered parking spaces in six above-ground levels and a lower level. Tom Sigrist of Berkadia originated the loan for the borrower, Milwaukee Moderne LLC. The loan was financed through Berkadia's HUD/FHA program.
KIRKWOOD, MO. — Mark One Capital, a subsidiary of Marcus & Millichap, has arranged a $6.27 million loan for a 112-uni multifamily property in Kirkwood. The The 10-year loan has a 30-year amortization schedule, a fixed interest rate of 5.54 percent and an 80 percent loan-to-value. Charles Sosa of Mark One Capital and Jim Sotos of Marcus & Millichap arranged the loan.
BURR RIDGE, ILL. — Woodridge, Ill.-based Morgan/Harbour Construction has completed a 32,065-square-foot warehouse expansion for Dik Drug Co. Located at 160 Tower Dr. in Burr Ridge, the expansion includes five exterior docks, one drive-in door and 28-foot clear ceiling heights. Cornerstone Architects provided architectural services and Jacob & Hefner served as civil engineer for the project.
MELROSE PARK, ILL. — Darwin Realty & Development Corp. has completed the sale of an industrial building in Melrose Park. Power Plant Services Corp. purchased the 31,360-square-foot building, which is located at 3201 Soffel Ave., for an undisclosed price. The property features 18-foot ceiling clearance, three interior docks and 4,500 square feet of office space. Daniel Fanelli and Anthony Leeds of Darwin Realty represented the undisclosed seller and buyer in the transaction.
LYONS, ILL. — A private individual has acquired Riverside Trail Apartments in Lyons. The 60-unit multifamily property sold for $3.51 million or $58,500 per unit. The property is located at 7860 W. Ogden Ave. James Clough of Marcus & Millichap represented the buyer; Ryan Engle of Marcus & Milichap's Oak Brook, Ill., office represented the seller.
AUBURN HILLS, MICH. — Montaplast of North America has acquired a 24,016-square-foot hi-tech/flex building in Auburn Hills. Servco Inc. sold the property, which is located at 1849 Pond Run, for an undisclosed price. Montaplast is an international company specializing in the production of plastic precision parts and systems for the automobile industry. Mitchell Lipton of Friedman Real Estate Group represented the seller in the transaction.
BROWNSBURG, IND. — BMC Capital has originated a $1.6 million loan for the refinancing of a maturing CMBS loan on a CVS/pharmacy property, located at 21 W. Main St. in Brownsburg. Barrett Linburg of BMC Capital arranged the 10-year, fixed-rate loan, which has a 50 percent loan-to-value and a 25-year amortization schedule, for the undisclosed borrower.
MONTGOMERY, ILL. — Peoria, Ill.-based General Pump and Machinery has purchased an approximately 10,000-square-foot warehouse building in Montgomery for $585,000. Situated on 2 acres near Route 31, the property features one dock, one drive-in door, 1,800 square feet of office space and 18-foot clear ceiling heights. Brian Dolan of Dolan & Murphy represented the buyer; Steve Chrastka of JCF Real Estate represented the undisclosed seller in the transaction.
HANOVER PARK AND CHICAGO, ILL. — Krusinski Construction C. has completed two tenant improvement projects in Illinois. In Hanover Park, the company completed a 20,000-square-foot freezer and cooler vestibule for JFC International, a distributor of Asian food products. The project included new access and egress for employees though the expanded parking lot. California-based Gene Cipparone Architects provided design services for the project. In Chicago, Krusinski renovated a 17,000-square-foot facility to include an 8,000-square-foot freezer, a cooler area and a production line area for Diana's Bananas, a producer and distributor of chocolate-dipped frozen bananas. Chicago-based Archideas provided architectural services for the facility, which is located on Harrison Street.