AURORA, ILL. — The Laramar Group has purchased Covey at Fox Valley in Aurora for an undisclosed price. Built in 1988, the 216-unit apartment community is located at 2160 Walcott Road. Laramar plans to make interior and exterior renovations to the property, which is located adjacent to Rush Copley Medical Center. The seller was not provided.
CHICAGO — Skender has completed the interior buildout of 43,000 square feet of spec suites in the North building of the Old Post Office in Chicago’s West Loop. A spec suite is ready for move-in and saves tenants the time that is typically associated with office buildouts. The 11 divisible office suites provide lease options ranging from 1,000 to 7,000 square feet. The accompanying amenity space includes two conference rooms, a reading room and library. As with most of the space in the redeveloped Old Post Office, the new spec suites feature unique historic touches, including mosaic tiles and salvaged doors. Skender worked closely with building owner 601W Cos., architect Partners by Design and project manager JLL.
CHICAGO — Interra Realty has brokered the $16.9 million sale of a two-building multifamily portfolio totaling 50 units in Chicago’s Uptown neighborhood. The properties are located at 4714 N. Sheridan Road and 843 W. Agatite Ave. Combined, the two buildings were 96 percent occupied at the time of sale. Jon Morgan, David Goss and Joe Smazal of Interra represented the seller, Chicago-based Mavrek Development, which developed the properties in 2019 and 2021. Colin O’Malley of Interra represented the private buyer.
ELMHURST, ILL. — LMC, a wholly owned subsidiary of Lennar Corp., has completed development of The Fynn in Elmhurst, a western suburb of Chicago. BKV Group designed the eight-story, 212-unit apartment development, which is located at 183 N. Addison Ave. BKV provided planning and pre-development services and led all engineering, architecture, interior design and landscape architecture. Amenities include a pool, community lounge, coworking stations, fitness center, exercise studio, dog run and sky club. Monthly rents start at $1,815. Residents can now receive up to two months of free rent.
WEST CHICAGO, ILL. — Peak Construction Corp. has broken ground on the second phase of DuPage Business Center in West Chicago. Scannell Properties is the developer for the 250,100-square-foot speculative warehouse, which will feature a clear height of 32 feet, 30 dock positions, four drive-in doors and parking for 208 cars and 95 trailers. The facility is designed to accommodate up to four tenants. Completion is slated for the third quarter of 2022. The project team includes SpaceCo, Ware Malcomb and IMEG. Cory Ramey and Shamus Conneely of John Greene Industrial will market the project for lease.
CEDAR FALLS, IOWA — Marcus & Millichap Capital Corp. (MMCC) has arranged a $9.2 million Fannie Mae loan for the refinancing of Arabella Apartments in Cedar Falls, just north of Waterloo. The property consists of 50 units and 6,800 square feet of ground-floor retail space. Amenities include a rooftop patio, dog park and community garden. Robert Bhat of MMCC arranged the 10-year loan, which features a fixed interest rate of 3.75 percent, a 30-year amortization schedule and a 75 percent loan-to-value ratio.
WHEELING, ILL. — Lee & Associates has negotiated the sale of a nearly four-acre site at 231 Wheeling Road in Wheeling, a northwest suburb of Chicago. The sales price was undisclosed. The buyer, General Capital, plans to build Union Apartments, a four-story multifamily property. Rick Scardino of Lee & Associates represented the seller, Palumbo Bros. David Erickson of CBRE represented the buyer.
CHICAGO — Edie’s All Day Café & Bar has signed a lease for approximately 4,000 square feet of ground-floor space at Kingsbury Center in Chicago. Scheduled to open in spring 2022, the new location is Edie’s second in Chicago’s River North neighborhood. Edie’s will offer a café, restaurant, workspace and wine bar. Kingsbury Center is a six-story, 90,689-square-foot office building owned by an affiliate of Next Realty LLC and The Habitat Co. David Goldberg and Allan Perales of Goldstreet Partners represented Edie’s in the lease transaction.
KANSAS CITY, MO. — Construction is underway on a new $1.5 billion terminal at Kansas City International Airport. Henderson Engineers is serving as the lead engineer and designed the technological infrastructure, which includes touchless kiosks and video walls. This infrastructure will also support a biometric verification system that will enable travelers to use their faces as boarding passes. Using three-dimensional building information modeling software, Henderson determined placement for security cameras throughout the 1 million-square-foot terminal. Siemens is assisting with innovative technology efforts. Completion of the project is slated for early 2023. The airport will transition from its current three-terminal layout to the new single terminal. Since airport operations will need to remain functional during the transition, air transport communications company SITA is designing an IT network that will prevent interruptions to security and other vital systems during the changeover. In addition to technology, Henderson’s array of building systems design services for the new terminal includes acoustics, audio-video, electrical, fire alarm, mechanical and plumbing. Skidmore Owings & Merrill is the lead architect for the project and Edgemoor Infrastructure & Real Estate is the developer.
ST. CHARLES, ILL. — Colliers Chicago has arranged the sale of 1st Street Development, a mixed-use development in the heart of St. Charles, about 40 miles west of Chicago. The sales price was undisclosed. The five-building asset consists of retail, office and residential space. The properties include: The Plaza, a two-story retail and office building; Ale Building, a four-story office and retail asset; River Loft, a five-story office, retail and condo property; Sterling Building, a five-story office and condo building; and Building 7A, a three-story retail and residential asset. Notable tenants include Kilwin’s, Gia Mia, Alter Brewing, XSport Fitness, Coldwell Banker, Ohio Farmers Insurance and Regus. The property is 97 percent leased. Peter Block, Tyler Hague and Lauren Stoliar of Colliers represented the seller, First Street Development LLC. Tabani Group LLC was the buyer.
