Midwest

JOLIET, ILL. — A 560,000-square-foot replacement hospital for Silver Cross Hospital is underway 3 miles east of the existing campus in Joliet. The $400 million project is being constructed on a greenfield site at the intersection of U.S. Route 6 and the new Interstate 355 extension. RTKL served as the master-planner and designer for the project, which will include 289 all-private rooms in an environment that focuses on patient-centric care. In order to enhance the hospital’s care model, each of the hospital’s four wings will house 18 beds, as well as a large care center for two nursing teams, a smaller center for the third nursing team, and multiple medication and clean supply rooms. A state-of-the-art interventional platform will incorporate minimally invasive, image-guided surgery spaces into a single unit. The new building will house 11 operating rooms. The core of Silver Cross Hospital’s new design allows for long-term growth without sacrificing existing operational efficiencies. The six-story building will support the addition of two floors without disruption to operations. A bed tower can also be added in such a way that those patient rooms and the rooms in the tower currently underway could be equidistant to surgery and major diagnostic departments. …

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INDIANAPOLIS AND ELGIN, ILL. — Indianapolis-based Kite Realty Group Trust (NYSE: KRG) has sold both phases of its Spring Mill Medical commercial asset located in Indianapolis, as well as its Silver Glen Crossing shopping center located in the Chicago suburb of Elgin. The 138,212-square-foot Silver Glen Crossing shopping center is anchored by Caputo’s Fresh Markets. The buyers of both properties were not disclosed. The transactions generated combined gross proceeds of approximately $48.5 million before adjusting for partners’ shares. The company’s share of net cash from the sale was approximately $23.6 million, the majority of which was used to pay down the company’s unsecured line of credit.

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CHICAGO — Essex Realty Group has brokered the sale of a 64-unit multifamily property located at 930 W. Winona in the Uptown neighborhood of Chicago. Situated 1 block west of Lake Michigan, the building houses 18 studios and 46 one-bedroom units on top of a 35-space parking area. The building commanded a sales price of approximately $5.8 million. Both the buyer and seller were not disclosed. Doug Imber of Essex represented the seller; David Goss, also of Essex, represented the purchaser in the transaction.

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CINCINNATI — Marcus & Millichap has brokered the sale of Oakley Storage located at 2950 Robertson Ave. in Cincinnati. Buffalo, N.Y.-based Sovran Limited has purchased the 66,520-square-foot self-storage facility from an undisclosed local limited liability company for approximately $4.31 million. Adam Schlosser and Brett Hatcher in the Columbus, Ohio, office of Marcus & Millichap represented the seller in the transaction.

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OLATHE, KAN. — Kansas City, Mo.-based Block & Co. Inc. Realtors has brokered the sale of The Great Mall of the Great Plains, which is located at the crossroads of Interstate 35, Highway 169 and 151st Street in Olathe. The 1 million-square-foot mall is situated on 100 acres, with 22 acres of vacant land surrounding the building. Great Olathe Center LLC has purchased the building from Glimcher Realty Trust for $20.5 million. The proceeds were applied towards the repayment of the $30 million mortgage on the property. Short-term plans for the mall call for local and regional restaurants and retailers to open on the ground level of the building. Long term, the owners are targeting national restaurant, retail and entertainment chains to open at the redeveloped mall by 2012. Additionally, owners are researching ways to change the entrances, as well as the interior décor. Renovation plans will be phased to minimize disruption of existing tenants. Block & Co. has taken control of retail leasing, development and property management of the mall, with David Block of the company serving as the managing partner for the new owner.

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CINCINNATI — Seattle-based Nordstrom plans to open a 35,000-square-foot Nordstrom Rack store within the Rookwood Pavilion shopping center, which is located off Interstate Highway 71 in Cincinnati. Nordstrom Rack — a unit of Nordstrom’s off-price retail division — is scheduled to open at the development in the fall. Existing tenants within Rookwood Pavilion include T.J. Maxx, Steinmart, and a variety of restaurants and shops. This will be the retailer’s second Nordstrom Rack in Ohio, with the first store opening last October within Legacy Village in Lyndhurst. The deal was handled locally by Mark Fallon and Emily Bevis of Jeffrey R. Anderson Real Estate. Jeffrey R. Anderson Real Estate is the original developer and owner, and continues to lease and manage the center. In September, Nordstrom will also open a full-line store within Kenwood Towne Centre in Cincinnati.

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BELLEVUE, NEB. — Omaha, Neb.-based Capehart Square LLC has acquired two shopping centers totaling 48,000 square feet in Bellevue. The 26,000-square-foot Capehart Square Shopping Center, which is located on Capehart Road, and the 22,000-square-foot 25th Place Shopping Center, which is located on 25th Street, were purchased for approximately $3.33 million. Both centers are located adjacent to housing for Offutt Air Force Base. At the time of closing, the developments were 80 percent occupied. Ember Grummons of Investors Realty Inc. represented both parties in the transaction. The seller was not disclosed.

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SOUTHFIELD, MICH. — Storage Pros Southfield LLC, as owner, has opened a 70,000-square-foot Storage Pros Self Storage facility located at 28223 Telegraph Rd. in Southfield. The two-story building consists of 700 climate-controlled storage units. The property features drive-thru covered loading, video surveillance and conference room facilities. Storage Pros Southfield LLC is an affiliate of Farmington Hills, Mich.-based Storage Opportunity Partners LLC. The estimated cost of completing the project was not disclosed.

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CAROL STREAM, ILL. — Mid-America Real Estate Corp. has brokered the sale of a 21,153-square-foot retail center located on the southwest corner of Schamale Road and North Avenue in the Chicago suburb of Carol Stream. Chicago-based Lee Crossings LLC has purchased the recently-constructed development from Indianapolis-based Integrity Development Partners for $5.1 million. The convenience-oriented center is anchored by Starbucks Coffee and Ideal Fitness. Benjamin Wineman of Mid-America represented the seller and dealt directly with the buyer in the transaction.

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NAPERVILL, ILL. — Elgin, Ill.-based IHC Construction has been selected by Naperville Community School District 201 to serve as construction manager for additions and renovations to Naperville Central High School. The $87.7 million project is part of the district’s $114.9 million multi-facility construction program. Plans for the addition call for 172,430 square feet of space, including a three-story classroom component, a three-story administration and entry component, and a music addition. The 280,000-square-foot renovation will include gutting and remodeling throughout the interior, asbestos abatement, installation of new security and communications systems, a relocation of the library, a new sprinkler system, as well as mechanical, electrical and plumbing updates. Construction is slated to begin in the summer, with completion scheduled for fall 2011. Darien, Ill.-based Wight & Co. is providing design services for the project.

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