Monday, June 16, 2025
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Midwest

AcquisitionsIllinoisMidwestRetail

Hanley Investment Group Arranges $6.6M Sale of Walgreens-Occupied Property in Sugar Grove, Illinois

by Kristin Harlow

SUGAR GROVE, ILL. — Hanley Investment Group Real Estate Advisors has arranged the $6.6 million sale of a 14,739-square-foot retail property occupied by Walgreens in Sugar Grove, a western suburb of Chicago. Constructed in 2012, the single-tenant building features a drive-thru. Bill Asher, Jeff Lefko and Jeremy McChesney of Hanley, in association with ParaSell Inc., represented the seller, a private investor based in Orange County, Calif. Isaiah Harf of Northmarq represented the metro Chicago-based, 1031 exchange buyer. The property sold at full asking price.

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AcquisitionsHealthcareMidwestWisconsin

FCPT Acquires Property Leased to Midwest Orthopedic Network in Wisconsin for $4.3M

by Kristin Harlow

WISCONSIN — Four Corner Property Trust (FCPT) has acquired a property leased to Midwest Orthopedic Network in Wisconsin for $4.3 million. The tenant has roughly four years remaining on its lease, which features annual rent increases of 2.5 percent. The sales price represents a cap rate of 8.1 percent. Midwest Orthopedic Network operates roughly 30 locations in Wisconsin.

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AcquisitionsIndianaMidwestRetail

Friedman Brokers Sale of 60,000 SF Retail Center in Plymouth, Indiana

by Kristin Harlow

PLYMOUTH, IND. — Friedman Real Estate has brokered the sale of Plymouth Plaza in Plymouth, a city in northern Indiana. The sales price was undisclosed. The new owner plans to repurpose the 60,000-square-foot retail center into a mixed-use development featuring both retail and self-storage space. Steven Silverman and Ryan Wilner of Friedman represented both parties in the sale.

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AcquisitionsIndustrialMidwestOhioSelf-Storage

Marcus & Millichap Negotiates Sale of 148-Unit Self-Storage Facility in Akron, Ohio

by Kristin Harlow

AKRON, OHIO — Marcus & Millichap has negotiated the sale of Premier Storage of Akron, a self-storage facility in Akron, for an undisclosed price. Built in 1995, the property features 148 non-climate-controlled units and totals 21,200 net rentable square feet. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided.

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Build-to-RentDevelopmentIllinoisMidwestMultifamilySingle-Family Rental

RMK Begins Leasing Efforts for Townhome, Single-Family Rental Community in Gilberts, Illinois

by Kristin Harlow

GILBERTS, ILL. — RMK Management Corp. has begun leasing efforts for Conservancy at Gilberts, a new community that will offer 94 rental townhomes and 90 single-family rental homes in the Northwest Chicago suburb of Gilberts. Construction is complete for the community’s first phase, which comprises 54 townhomes. Many of the townhomes have been leased and nine are occupied. Construction is underway on the remaining 40 townhomes. RMK has begun pre-leasing efforts for the first phase of 46 single-family rental homes, which are slated for occupancy in June. Two-and three-bedroom townhomes measure from 1,469 to 1,724 square feet with monthly rents ranging from $2,530 to $2,925. Four-bedroom townhomes measure from 2,114 to 2,423 square feet. Conservancy at Gilberts is a pet-friendly community and offers ample green space and outdoor areas.

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AcquisitionsMidwestMinnesotaRetail

Hanley Investment Group Arranges $6.6M Sale of Walgreens-Occupied Property in Minneapolis

by Kristin Harlow

MINNEAPOLIS — Hanley Investment Group Real Estate Advisors has arranged the sale of a 14,535-square-foot retail property occupied by Walgreens in Minneapolis for $6.6 million. Built in 1966 and renovated in 2020, the single-tenant building is located at 4323 W. Chicago Ave. Hanley’s Kevin Fryman and Ed Hanley, in association with ParaSell Inc., represented the seller, a private investor based in California. A New York-based private investor was the buyer.

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AcquisitionsIndianaMidwestRetail

Marcus & Millichap Brokers $4M Sale of Retail Property in Portage, Indiana

by Kristin Harlow

PORTAGE, IND. — Marcus & Millichap has brokered the $4 million sale of Diamond Plaza in Portage, a city in Northwest Indiana. The 26,524-square-foot retail property is located right off U.S. Route 6. Tarek Chbeir of Marcus & Millichap secured and represented the buyer, a private investor. Josh Caruana, broker of record in Indiana, assisted in closing the transaction. Seller information was not provided.

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AcquisitionsAffordable HousingMichiganMidwestMultifamily

Dominion Negotiates Sale of 24-Unit Affordable Housing Community in Croswell, Michigan

by Kristin Harlow

CROSWELL, MICH. — Dominion Real Estate Advisors LLC has negotiated the sale of Croswell Manor Apartments in Croswell, a city in eastern Michigan. The sales price was undisclosed. The 24-unit apartment building is a project-based Section 8 property. Rem Murray of Dominion brokered the transaction, which included the facilitation of a Housing Assistance Payments (HAP) contract transfer with HUD and an agency loan assumption. According to Dominion, the loan assumption enabled the buyer to purchase the property with a lower interest rate than what’s available in the market today and enabled the seller to obtain a higher purchase price.

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Leasing ActivityMichiganMidwestRetail

FitStop24 Signs 3,422 SF Retail Lease in Paw Paw, Michigan

by Kristin Harlow

PAW PAW, MICH. — Fitness concept FitStop24 has signed a 3,422-square-foot retail lease in Paw Paw, a city in Southwest Michigan. Bloom City Club Cannabis leases the other half of the building, which is located on Red Arrow Highway. Michael Murphy of Gerdom Realty & Investment represented the undisclosed landlord in the lease. FitStop24 now operates 15 locations in Michigan and Indiana.

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AcquisitionsIllinoisMidwest

Mag Mile Capital Merges with Myson, Becomes Publicly Traded Company

by Kristin Harlow

CHICAGO — Mag Mile Capital, a Chicago-based commercial real estate mortgage banking firm, has completed a merger with Salt Lake City-based Myson Inc. (OTC PINK: MYSN). The transaction creates a new public entity to be named Mag Mile Capital Inc. Rushi Shah, CEO of Mag Mile Capital, has been appointed chairman of Myson’s board of directors as well as CEO of the combined publicly traded company that will be traded under a new ticker symbol. Other significant shareholders in the company include California-based Reddington Partners, a private investment holding company. Myson served as a shell company for Reddington and will do the same for Mag Mile. The merger enables Mag Mile to expand its business and expedite the process of going public. “Underpinned by the liquidity of publicly traded shares and infusion of cash, we will seek out and prudently pursue strategic acquisitions, consolidate revenues and launch our technology platform,” says Shah. “Along with other mortgage banking and capital markets brokerage services platforms, we will seek to diversify the company’s revenue stream by exploring accretive business combinations of other commercial real estate (CRE) services, including but not limited to investment brokerage services, direct lending businesses, designated underwriting and servicing businesses, …

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