Midwest

NORTH CHICAGO, ILL. — Baker Barrios Architects has released renderings of its design for the country’s deepest warm water therapy pool. Located in North Chicago, the project is part of an educational and research facility being developed by international nonprofit Diveheart. Founded in 2001 by Jim Elliott, a scuba instructor and former guide for visually impaired downhill skiers, Diveheart’s mission is to provide educational scuba diving programs that are open to any child, adult or veteran with a disability. The programs provide therapeutic benefits for physical, emotional and behavioral challenges. The patented design of the deep therapy pool, planned for a minimum depth of 130 feet, features a unique telescoping configuration with a portion of the structure above grade, allowing for general observation of the divers. The facility will also feature a training pool, exhibition pool, underwater observation passage, locker rooms, conference/meeting space, and medical and operational office space.

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MICHIGAN — District Capital has arranged a $10.6 million loan for the acquisition of a 205,000-square-foot industrial property in Michigan. Dave Dismondy of District Capital arranged the nonrecourse loan, which features a 60 percent loan-to-value ratio and an 80 percent loan-to-cost ratio. A life insurance company provided the loan. The borrower was undisclosed.

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WEST DES MOINES, IOWA — CBRE has opened a new 8,000-square-foot office on the second floor of 595 Tower, which is located at 595 S. 60th St. in West Des Moines. The firm has relocated from the Hubbell Realty Co. building at 6900 Westown Parkway. The new office is part of CBRE’s Workplace360 program, showcasing the company’s “Future of Work” space standards, including innovative technology and a wider variety of collaborative spaces designed to support hybrid working. CBRE launched its Workplace360 program in 2013 and has since opened more than 100 of these offices worldwide. A cornerstone of the model is the “free address” approach where there is no assigned seating. The Des Moines office is equipped with technology for chat and video applications, a large media display for company announcements and a RISE café. There are several pieces of artwork from local artists, Tom Gross and Candice Luten. The conference room names are based on the three local counties where CBRE is most active — Dallas, Jasper and Polk.

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HAMMOND, IND. — Marcus & Millichap has brokered the sale of the Fairfield Inn & Suites Southeast | Chicago for an undisclosed price. The 94-room hotel is located at 7720 Corinne Drive in Hammond, a city in Northwest Indiana. The four-story property features an indoor breakfast area, fitness center, meeting space, laundry facility, dry cleaning service and convenience store. The hotel will undergo a full renovation in the coming year. Ebrahim Valliani and Michael Klar of Marcus & Millichap represented the buyer and seller, both of which were private investors. Marcus & Millichap’s Chris Gomes and Allan Miller were listed on the deal as supporting brokers, and Josh Caruana, the firm’s broker of record in Indiana, assisted in closing the transaction.

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SOUTHFIELD, MICH. — Friedman Real Estate has negotiated the sale of a 60,000-square-foot office building in Southfield for an undisclosed price. The property at 19900 W. Nine Mile Road was formerly home to Specs Howard School of Media Arts. Dan Verderbar of Friedman represented the undisclosed seller. Life Skills Village, an outpatient mental health and rehabilitation facility, will occupy the building.

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GERMANTOWN, WIS. — Cushman & Wakefield has brokered the $30.8 million sale of the Aurora Health Center in Germantown, a northern suburb of Milwaukee. The two-building medical office property totals 92,573 square feet. The North Building, spanning 15,998 square feet, supports use for chiropractic care, family medicine, gastroenterology, pain management, pediatric cardiology and sports rehabilitation. In 2016, Aurora converted the 76,585-square-foot South Building from administrative space into a health center with a six-operating room surgery center, 16 oncology infusion bays, a healing garden and dozens of exam rooms. Both buildings are fully occupied by Aurora Health Care Inc., a subsidiary of Advocate Health, and operate under long-term, triple net leases. The buildings staff a combined total of more than 100 physicians, 70 registered nurses and an additional 170 caregivers daily. Gino Lollio, Travis Ives, Sushil Puria and Tyler Morss of Cushman & Wakefield, in conjunction with Mike Keane of The Boerke Co., represented the seller, Minneapolis-based Sentinel Management Co. Nashville-based Montecito Medical was the buyer.

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DOWNERS GROVE, ILL. — Mid-America Real Estate Corp. has negotiated the sale of Downers Park Plaza, a 124,005-square-foot shopping center in the western Chicago suburb of Downers Grove. Anchored by Shop & Save Market, the property is 94 percent leased. Additional tenants include Dollar Tree, Phenix Salon Suites, Super CDA, Quilters Quest, CosmoProf, AAA and Hallmark. The center, situated at the northeast corner of 75th Street and Lemont Road, is shadow anchored by TJ Maxx, Best Buy and Old Navy. Ben Wineman and Emily Gadomski of Mid-America represented the seller, PMAT Real Estate Investments. Detroit-based Broder & Sachse Real Estate was the buyer.

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OSWEGO, ILL. — Lynd, a real estate development and property management firm, is nearing completion of Home at Ashcroft, a 178-unit build-to-rent community in the Chicago suburb of Oswego. The developer has opened decorated models at the property, which is located at 137 Dorset Ave. Home at Ashcroft offers three-bedroom, attached single-family homes starting at $2,591 per month. Originally designed as for-sale single-family homes, the property features wider layouts than most townhomes and offers features typically found in detached single-family homes such as open layouts, two-car garages with extended driveways, basements, fenced-in yards and back porches. Ranch and two-story floor plans range from 1,559 to 1,747 square feet. Groups of six homes share a cul-de-sac. An onsite management team provides services such as plant watering, yard care, snow removal, package receiving and dog walking. Work is underway on a $2 million community clubhouse with a fitness and wellness center, outdoor pool, covered pavilion, fountain, firepit and grills. Slated to open later this year, the 5,500-square-foot space includes a lounge that opens to a warming kitchen and coffee bar, private library, events room, coworking stations, conference rooms, game area and package delivery room.

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CHICAGO — Interra Realty has brokered the $10.5 million sale of a 2.3-acre retail redevelopment site in Chicago’s Logan Square neighborhood. The property is located at 2053 N. Milwaukee Ave. near the intersection of Milwaukee, Western and Armitage avenues. The site currently houses a vacant 25,473-square-foot retail building, formerly a CVS store, and approximately 125 parking spaces. Colin O’Malley of Interra represented the seller, a local real estate owner and investor. The undisclosed buyer is hoping to redevelop the site under the existing zoning, according to Interra.

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LANSING, MICH. — Marcus & Millichap has arranged the sale of the Quality Suites Lansing, a 115-room hotel in Lansing. The sales price was undisclosed. Located at 901 Delta Commerce Drive, the property features a fitness center, business center, conference room, event space and a sauna. Ebrahim Valliani and Michael Klar of Marcus & Millichap represented the buyer and seller, both of which were private investors. Chris Gomes and Allan Miller of Marcus & Millichap were also listed on the deal as supporting brokers, and Steven Chaben, broker of record in Michigan, assisted in closing the transaction.

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