ELK GROVE VILLAGE, ILL. — Sitex Realty Group has acquired 850 Lunt Avenue in Elk Grove Village for an undisclosed price. The 54,060-square-foot industrial property features four interior truck docks, 18-foot clear heights and 44 parking spaces. The seller was Woodstock, Ill.-based Timpe Limited Partnership. Larry Goldwasser and Jay Maher of NAI Hiffman represented the seller in the transaction.
CHICAGO — Northbrook, Ill.-based Brinshore Development has selected McShane Construction Co. for the construction of Hairpin Lofts and Logan Square Arts Center. The reconstruction project will feature a six-story, mixed-use development featuring 25 affordable and three market-rate apartment units on floors three through six, Logan Square Arts Center on the second floor and ground-floor retail space. Hartshorne Plunkard Architecture designed the project to meet LEED Silver certification. Green elements include a roof deck patio garden/green roof, solar thermal panels for domestic hot water, a geothermal HVAC system, low VOC materials, ENERGY STAR appliances, recyclable content material and an extensive construction waste recycling system. The project is scheduled for completion in March 2011.
CHICAGO — Magellan Development Group, the developer of Aqua, has inked a deal with Minneapolis-based Carlson Hotels to bring a Radisson Blu hotel to the Lakeshore East tower. Scheduled to open in fall 2011, the $125 million, 300,000-square-foot Radisson Blu will offer 334 guest rooms, a 12,500-square-foot ballroom, 27,000 square feet of meeting space and a 125-seat restaurant and bar. Additionally, guests will have access to the amenity center and fitness package of Aqua tower. The hotel will occupy the first 18 floors and will have a separate entrance from the residential portion of the tower. Aqua is located at 225 N. Columbus Dr.
MILWAUKEE — Central Bark has purchased an 11,631-square-foot industrial facility in Milwaukee for an undisclosed price. Located at 3888 N. First St., the property will be renovated to accommodate the buyer’s dog daycare operations. Jeff Hoffman of Judson & Associates represented the buyer; James Young and Maximilian Yokosh of Cassidy Turley Barry represented the seller, Cardo USA, in the transaction.
BROOKLYN PARK, MINN. — Daniel Trebil of NorthMarq Capital’s Minneapolis office has arranged a $3.5 million loan for Pebble Creek North Apartments. Located in Brooklyn Park, the multifamily property offers 190 units. Financing was based on a 10-year term with a 30-year amortization schedule. The loan was provided by AmeriSphere Multifamily Finance, a Fannie Mae DUS lender.
WEST UNION, IOWA — Atwood Mobile Products has completed the disposition of an 188,800-square-foot industrial property, which is located at 800 Highway 150 South in West Union. Art’s Way Manufacturing, a manufacturer and distributor of niche agricultural machinery, equipment and services, has acquired the 29.07-acre property for an undisclosed price. The buyer plans to use the facility for production of its agricultural lines and warehouse for finished products. Gerald Norton of Philadelphia-based Binswanger represented the seller in the transaction.
CASEYVILLE, ILL. — Swansea, Ill.-based Holland Construction Services has completed the construction of Ritchie Bros. Auctioneers’ new auction facility in Caseyville. Located on Old Country Inn Drive, the 40-acre site features a 13,557-square-foot auction facility with telescoping bleachers, overhead doors and virtual ramp screens for viewing off-site and stationary items. Bellevue, Wash.-based Mulvanny G2 Architects designed the facility.
EDINA, MINN. — NorthMarq Capital’s Minneapolis office has arranged a $13 million first mortgage for Centennial Lakes IV in Edina. Located within a 100-acre mixed-use development, the property offers 215,790 square feet of Class A office space. Financing was based on a 10-year term with a 25-year amortization schedule. NorthMarq’s Patrick Minea originated the loan through the company’s correspondent relationship with Minnesota Life Insurance Co.
DES PLAINES, ILL. — Midland Paper Co. has signed a lease for 80,730 square feet of industrial space at Des Plaines Distribution Center, which is located at 363 N. Third Ave. in Des Plaines. Built in 1966, the 249,925-square-foot center features 18 exterior docks, 21-foot clear ceiling heights and access to O’Hare airport and the Interstate 294 Expressway. Kurt Sarbaugh, Robin Stolberg and Kris Bjorson of Jones Lang LaSalle represented Midland Paper Co.; Jonathan Kohn and Tom Rodeno of Colliers Bennett & Kahnweiler represented the landlord, ProLogis, in the transaction. Terms of the lease were not released.
NAPERVILLE, ILL. — Rockledge Furniture LLC dba Ashley Furniture has acquired a 41,331-square-foot retail building at Centre at Naperville, which is located at the corner of Route 59 and 75th Street in Naperville. Ashley Furniture plans to open a new location at the site this summer. The acquisition price was not released. Bill Argall of Great Street Realty Partners represented the buyer; Marget Graham and Katie Hennegan of Oakbrook Terrace, Ill.-based Mid-America Asset Management represented the seller, Inland Western Naperville 59 LLC, in the transaction.