Midwest

CONSTRUCTION BEGINS ON 31,400-SQUARE-FOOT AUTO DEALERSHIP

by admin August 17, 2010

ST. CHARLES, ILL. — Ryan Companies US Inc., serving as general contractor, is constructing a 31,400-square-foot Mercedes-Benz dealership and showroom in St. Charles for Resnick Automotive. Located at 225 N. Randall Road, the property will include an 8,600-square-foot showroom, a 17,900-square-foot service center and 3,700 square feet of office space. Additionally, the facility will offer 1,200 square feet of storage space. Gensler is providing architectural and design services while Aurora, Ill.-based Watermark Engineering Resources Ltd. is providing civil engineering services for the project, which is slated for completion in first quarter 2011.

August 17, 2010

Midwest

BOCK & CLARK CORP. LAUNCHES SURVEY, TITLE REVIEW SYSTEM

by admin August 17, 2010

AKRON, OHIO — Akron-based Bock & Clark Corp., a national coordinator for ALTA surveys, has launched Bock & Clark Navigator Survey & Title Review system. The product delivers surveys and title documents as one file and allows users to navigate between items on the survey and their references in the title and supportive documents. Additionally, the service includes high-resolution aerial images of properties as well as photographs of encroachments when available. The product, which is compatible with documents from all title organizations, is offered as a free service to all Bock & Clark clients.

August 17, 2010

Midwest Multifamily

MCKINLEY APPOINTED RECEIVER FOR RIVIERA MAIA

by admin August 17, 2010

TOLEDO, OHIO — Ann Arbor, Mich.-based McKinley Client Services has been appointed receiver for Riviera Maia Apartments. Located in Toledo, the property offers 504 multifamily units. Founded in 1968, McKinley owns and operates $2.4 billion in assets, including 139 properties for its own account and for select clientele.

August 17, 2010

Industrial Midwest

77,000-SQUARE-FOOT INDUSTRIAL BUILDING SELLS IN O’FALLON

by admin August 16, 2010

O’FALLON, MO. — LK Drive LLC has completed the disposition of a 77,000-square-foot industrial property, which is located at 3801 Lloyd King Dr. in O’Fallon. Boston-based STAG GI Investment Holdings purchased the building for an undisclosed price. Herndon Products currently occupies the building. David Gannon of NAI DESCO represented the seller in the transaction.

August 16, 2010

Midwest Retail

FOOD 4 LESS LEASES 82,126 SQUARE FEET IN CHICAGO HEIGHTS

by admin August 16, 2010

CHICAGO HEIGHTS, ILL. — Food 4 Less has leased 82,126 square feet of retail space at Lincoln Crossing, a shopping center in Chicago Heights. The property is located at the corner of Route 30 and Western Avenue. Food 4 Less plans to open a location at the center in spring 2011. Current tenants of Lincoln Crossing include GNC, Check ‘N Go and City Nails. Liz Krebs of Mid-America Asset Management represented the landlord, PERA Lincoln Crossing Inc., in the transaction. Terms of the lease were not released.

August 16, 2010

Civic Midwest

LEOPARDO RENOVATES TWO ILLINOIS LIBRARIES

by admin August 16, 2010

DARIEN AND LAKE ZURICH, ILL. — Leopardo, serving as general contractor, is currently renovating two libraries in Illinois. In Darien, Leopardo is completing a renovation to the two-story, 43,000-square-foot Indian Prairie Public Library. The project includes new carpeting, paint, fabrics, doors, furniture, plumbing and electrical work. Additionally, the library will receive new computers, an expanded teen area and a new family center for preschoolers. PSA-Dewberry is providing architectural services for the project. Leopardo is also completing renovations at Ela Area Public Library in Lake Zurich. The library is undergoing a radio frequency identification improvement project and Leopardo is performing drywall, demolition, carpentry and acoustical ceiling trade work.

August 16, 2010

Industrial Midwest

60,000-SQUARE-FOOT INDUSTRIAL FACILITY ACQUIRED, LEASED

by admin August 13, 2010

FORT WAYNE, IND. — Towne Investments has acquired a vacant 60,000-square-foot industrial property in Fort Wayne. Additionally, the company has inked a long-term lease for the entire building with Stonhard, a division of RPM International. The property is located in close proximity to the Fort Wayne International Airport along the Interstate 69 Corridor. Towne Investments plans to redevelop the property to accommodate the tenant’s needs. Steve Zacher of The Zacher Company represented the undisclosed seller in the transaction. The acquisition price was not released. Towne Investments is the trade name under which Zilber Ltd. markets its commercial investment portfolio.

August 13, 2010

Midwest Office

24,852-SQUARE-FOOT PROPERTY SELLS IN KENT, OHIO

by admin August 13, 2010

KENT, OHIO — Dix Communications, the corporate owner of Portage County, Ohio-based newspaper publisher Record Publishing, has purchased a former Mazda dealership in Kent. The 24,852-square-foot property sold for $840,000. Dix plans to repurpose the facility into a corporate marketing headquarters. Jennifer Fernandez of NAI Cummins was the listing broker for the property. Additional details of the transaction were not released.

August 13, 2010

Midwest Multifamily

32-UNIT RIVERVIEW CLUB CONDOMINIUMS TRADES HANDS IN MICHIGAN

by admin August 13, 2010

RIVERVIEW, MICH. — Salt Lake City-based Zions First National Bank has completed the disposition of Riverview Club Condominiums in Riverview. West Bloomfield, Mich.-based Penn Street Properties purchased the 32-unit multifamily property for an undisclosed price. Located at 14411 Pennsylvania Road, the property offers six one-bedroom and 26 two-bedroom units. The property was built in 1967 and renovated in 2007. Eric Taylor and Mark Rohr of Hendricks & Partners’ Michigan office represented the seller in the transaction.

August 13, 2010

Midwest Multifamily

TWO APARTMENT BUILDINGS SELL FOR $1.25 MILLION IN ILLINOIS

by admin August 12, 2010

DES PLAINES, ILL. — Inland Real Estate Brokerage has brokered the sale of two apartment buildings in Des Plaines. Located in the Hamilton Court apartment complex, the properties offer a total of 10 two-bedroom and two one-bedroom apartment units. The fully occupied properties sold for $625,000 each for a total of $1.25 million. Bob Edmiston of Inland represented both undisclosed parties in the transaction.

August 12, 2010

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