CHICAGO — Hoffman Estates, Ill.-based Leopardo Construction has completed one Chicago student-housing conversion project and is beginning another. Acting as general contractor, Leopardo has converted nine floors within the historic Pittsfield Building, which is located at 55 E. Washington in Chicago, into student apartments. Approximately 135,000 square feet of office product has been converted into 177 student apartments and 360 bedrooms. The 40-story building measures 392,000 square feet in size. Students from Roosevelt University and Robert Morris College will take occupancy at the facility this school year. Additionally, Leopardo is beginning the conversion of a 10-story building located at 847 W. Jackson in Chicago. The 230,000-square-foot facility will be converted into 135 student apartments and 432 bedrooms, with 10,000 square feet of retail product on the first floor. Each apartment will feature its own kitchen and each bedroom includes a private bathroom. Students from the University of Illinois — Chicago will occupy the building in August 2009. Leopardo is serving as construction manager-at-risk; Atlanta-based Place Properties is the developer for the project.
WAUWATOSA, WIS. — NAI MLG Commercial has brokered the sale of two 36,000-square-foot office facilities, which are located at 12000 and 12100 West Wirth St. in Wauwatosa. Outlook Wirth LLC has acquired the buildings from JMC Properties LOC 130 LLC for $5.7 million. Stephen Provancher of NAI MLG Commercial represented both parties in the transaction.
ROSCOE, ILL. — Wisconsin-based White Cap Real Estate has purchased Second Street Plaza, a 37,950-square-foot strip center located at 11447 Second St. in Roscoe. White Cap Real Estate has acquired the property from Oakfield Development Corp. for an undisclosed amount. Tenants at the center, which is 95 percent leased, include Berner Foods, Anytime Fitness, Life Church, Oakfield Development Corp., Rockford Title Co., Kids SPOT, Jan Sullivan Insurance and American Bell Custom Creations.
FAIRBORN, OHIO — The Place/BV Student Housing Fund LLC is developing the student housing community Rockdell Place, which will serve the students of Wright State University in Fairborn. The community, which is expected to open summer 2009, will house 96 fully furnished four-bedroom, four-bathroom units. Amenities at the property will include a clubhouse with computer lab, Place Zone online gaming center and an indoor half basketball court. BVP Managers LLC, which is a joint venture between Atlanta-based Place Properties LLC and Chicago-based Blue Vista Capital Management LLC, serves as manager of the fund. The estimated cost of completion was not disclosed.
MCCOOK, ILL. — Premier Design + Build recently completed construction of the 41,239-square-foot building expansion of the FedEx Ground Package System facility, which is located in McCook. Scannell Properties, as the owner of the facility, selected Premier Design + Build for the project. The addition features 12 dock doors, two drive-in-doors, heavy-duty interior trench drains and a 1,800-square-foot remote office product to service the extension of FedEx’s fully automated package conveying system. Also, site improvements made to the property include expansion of the employee parking area as well as construction of more than 5 acres of trailer parking and staging area. The site improvements were completed in February. Precept Design LLC acted as architect for the project.
COLUMBUS AND DUBLIN, OHIO — The Columbus office of Charlotte, N.C.-based Grandbridge Real Estate Capital has arranged more than $40 million in first mortgage loans for four multifamily properties in Ohio. The company has arranged $7.3 million in refinancing for The Ridge at Chestnut Hill, a 150-unit multifamily community located in Columbus. The loan was funded by Grandbridge and sold to Fannie Mae under its DUS Early Rate Lock program. Situated on a 12.5-acre site, the Class A apartment community is comprised of 10 buildings. Also in Columbus, Grandbridge has arranged approximately $9.5 million in first-mortgage financing for Spingburne Apartments. The 224-unit senior-oriented multifamily community is comprised of 28 garden-style buildings situated on a 12.59-acre site. The loan was sold by Grandbridge to Fannie Mae under the standard DUS program. Additionally, fixed-rate first mortgage loans were secured by two communities in Dublin, Karric South Apartments and Karric North Apartments, at approximately $8.13 million and $15.24 million, respectively. Both loans were sold by Grandbridge to Fannie Mae under the standard DUS program. Situated on an 11.63-acre site, Karric South Apartments is a 190-unit senior-oriented multifamily community. Adjoining Karric South Apartments, Karric North Apartments is a 350-unit senior-oriented community, which comprises 46 …
OMAHA, NEB. — HDR Inc., HOK Sport and DLR Group have been selected to design the new Omaha Baseball Stadium, which will house the College World Series. Omaha-based HDR Inc. will lead the team as architect and engineer, HOK Sport will act as design architect, and DLR Group will act as associate architect on the project. Since 2007, HDR and HOK Sport have been providing pre-design services for the $140 million project, which included studies for the renovation of the existing Rosenblatt Stadium, the evaluation of eight potential stadium sites, and programming and conceptual design of the current new stadium option. Upon completion, the stadium will include 24,000 seats and 28 luxury suites; an open, 360-degree walk-around concourse; five team clubhouses; as well as practice facilities and administrative offices. The Metropolitan Entertainment and Convention Authority (MECA), as the owner, will oversee design and construction of the stadium, which is expected to break ground this fall. The stadium is scheduled for completion in April 2010.
GENEVA, ILL. — NAI Hiffman’s Retail Services Group has brokered the sale of an 18,000-square-foot retail building located at 501 W. State St. in downtown Geneva. Hermosa Beach, Calif.-based American Investment Exchange has acquired from property from St. Charles, Ill.-based SRB Properties for $4.45 million. Tenants at the two-story building include Private Bank and Trust, ERA Consulting, and Prana Yoga. Anne Callard of NAI Hiffman represented the seller in the transaction.
NORTHBROOK, ILL. — J.F. McKinney & Associates and Kogen Zivin Friedman Development have completed two office sales in their RiverPark office condominium project, which is located at 1400-1486 Techny Rd. in Northbrook. The development, which is comprised of seven single-story buildings, houses offices ranging in size from 1,500 to 10,000 square feet. Gordon Segal, the retiring CEO of Crate & Barrel, has purchased a 7,500-square-foot office building within RiverPark, which is situated adjacent to the Crate & Barrel headquarters. Charlie Portis of J.F. McKinney & Associates represented Kogan Zivin Friedman Development in the transaction. The office, which is being sold as a shell, will be used for Segal’s Prairie Management Group. Additionally, Chicago-based law firm Atkinson & Atkinson has acquired a 3,000-square-foot office condominium within RiverPark. The firm is relocating from its former offices in downtown Evanston, Ill. Stevie Sims of Coldwell Banker represented the buyer; Portis of J.F. McKinney & Associates represented the owner in the transaction. The acquisition price was not disclosed.
OVERLAND PARK, KAN. — Westchester, Ill.-based Tri-Land Properties will begin constructing the $23 million redevelopment of Cherokee South Plaza in Overland Park in October. The 45-year-old center is located at the corner of 95th Street and Antioch Road. The redevelopment plan for the 118,000-square-foot development includes the complete demolition of one building, the addition of three new retail buildings totaling 27,000 square feet, new facades for the exterior buildings and a new parking lot. Retailers at Cherokee South Plaza will remain open during construction, which is scheduled for completion in the summer of 2009.