Midwest

Holladay Properties Breaks Ground on $30M Luxury Apartment Complex in Lombard, Illinois

by Kristin Harlow July 13, 2021

LOMBARD, ILL. — Holladay Properties has broken ground on Lilac Station, a $30 million luxury apartment complex in the western Chicago suburb of Lombard. The 118-unit property will feature amenities such as a deck area, pet run, game court, outdoor lounge area and fitness center. There will also be an onsite restaurant. Construction is slated for completion in early 2023. Lilac Station is the third luxury apartment complex in the Chicagoland area for Indiana-based Holladay Properties, which serves as the developer and manager on each of the properties. Holladay Construction Group is the general contractor. Lilac Station is named after the lilac flower. Lombard is home to Lilacia Park, a horticultural showcase that features more than 700 lilacs and 35,000 tulips. The project is being built on the site of the former DuPage Theatre. Certain historic elements of the theater will be integrated into the design of the apartment complex.

July 13, 2021

Loans Midwest Multifamily North Dakota

Greystone Provides $18.3M HUD-Insured Loan for Refinancing of Multifamily Property in North Dakota

by Kristin Harlow July 13, 2021

GRAND FORKS, N.D. — Greystone has provided an $18.3 million HUD 223(f) loan for the refinancing of Aspen Lofts Apartments in Grand Forks. Built in 2016, the 150-unit multifamily property offers studios, one-, two- and three-bedroom floor plans. Amenities include a clubhouse, fitness center, game room, dog park and picnic area. Adam Yitzhaky and Ilan Bassali of Greystone originated the loan on behalf of the borrower, Northridge Group. The 35-year loan is fully amortizing and features a fixed interest rate. Loan proceeds will also be used ongoing maintenance.

July 13, 2021

Acquisitions Indiana Midwest Retail

First National Realty Partners Acquires Kroger-Anchored Shopping Center in Bloomington, Indiana

by Kristin Harlow July 13, 2021

BLOOMINGTON, IND. — First National Realty Partners (FNRP) has acquired Whitehall Plaza in Bloomington for an undisclosed price. Anchored by a 62,426-square-foot Kroger store, the shopping center spans a total of 172,485 square feet. The property, located at 500 South Liberty Drive, is 92 percent occupied. Additional tenants include Planet Fitness, JoAnn, Regions Bank and Freddy’s Frozen Custard and Steakburgers. Seller information was undisclosed.

July 13, 2021

Acquisitions Illinois Industrial Midwest

Brown Commercial Group Negotiates $2.3M Sale of Industrial Portfolio in O’Hare Submarket

by Kristin Harlow July 13, 2021

ELK GROVE VILLAGE, ILL. — Brown Commercial Group has negotiated the $2.3 million sale of a three-building industrial portfolio in Chicago’s O’Hare submarket. The properties are located at 825 Touhy Ave., 855 Touhy Ave. and 875 Touhy Ave. in Elk Grove Village. All three buildings are leased on a long-term basis by Centech Plastics Inc., a plastic injection molding company. Mason Hezner of Brown represented the seller, a private investor. John Joyce and Danny Vanecko of SVN Chicago Industrial represented the buyer, Sawmill Property Co.

July 13, 2021

Illinois Leasing Activity Midwest Office

Restaurant Technology Provider Tock Signs 51,000 SF Office Lease in Chicago’s Fulton Market

by Kristin Harlow July 12, 2021

CHICAGO — Tock, a restaurant technology provider, has signed a 51,000-square-foot office lease at 320 N. Sangamon in Chicago’s Fulton Market district. The company provides restaurants with a system for streamlining reservations, events, takeout and delivery. Tock plans to take occupancy of the fifth and sixth floors in January 2022. Developer and owner Tishman Speyer recently completed 320 N. Sangamon in partnership with Chicago-based Mark Goodman & Associates. Ellen May, Adam Mitchel and Olivia Parker of Tishman Speyer are the property’s leasing agents. Solomon Cordwell Buenz was the architect. Website building and e-commerce platform Squarespace acquired Tock in March of this year.

July 12, 2021

Illinois Loans Midwest Multifamily

Dwight Capital Provides $27.3M HUD-Insured Loan for Refinancing of Apartment Complex in Algonquin, Illinois

by Kristin Harlow July 12, 2021

ALGONQUIN, ILL. — Dwight Capital has provided a $27.3 million HUD-insured loan for the refinancing of Algonquin Square Apartments in Algonquin. The 220-unit apartment complex was built in 2013 and consists of 11 buildings. Amenities include a gym, business center, pool, lounge area and outdoor grilling area. Brandon Baksh of Dwight Capital originated the loan on behalf of the borrower, a Chicago-based real estate company. The loan benefitted from a Green Mortgage Insurance Premium reduction set at 25 basis points because the property is Energy Star-certified.

July 12, 2021

Loans Midwest Multifamily Wisconsin

Black Bear Capital Partners Arranges $20.2M Loan for Refinancing of Three Wisconsin Multifamily Properties

by Kristin Harlow July 12, 2021

APPLETON, WAUSAU AND SCHOFIELD, WIS. — Black Bear Capital Partners (BBCP) has arranged a $20.2 million loan for the refinancing of three multifamily properties in Wisconsin. National Management LLC was the borrower. The properties include Bos Creek in Wausau, Metro Center in Schofield and Rangeview in Appleton. Together, the apartment communities total 324 units. Scott Modelski and Sam Koziol of BBCP arranged the Fannie Mae loan through PGIM Real Estate. The 10-year loan features a fixed interest rate of 3.17 percent.

July 12, 2021

Acquisitions Industrial Michigan Midwest

Stan Johnson Co. Brokers $7.6M Sale of Manufacturing Facility in Suburban Detroit

by Kristin Harlow July 12, 2021

FRASER, MICH. — Stan Johnson Co. has brokered the sale of a 186,443-square-foot manufacturing facility in the northeast Detroit suburb of Fraser for $7.6 million. AAM Metal Forming, an automotive supplier, fully leases the facility, which is located at 18450 15 Mile Road in Macomb County. Situated on 14 acres, the property was renovated in 2020. At the time of sale, there were 15 years remaining on the primary lease term. Asher Wenig of Stan Johnson represented the seller, ACW Fraser American LLC, which is an Arizona-based institutional investor. The buyer was Fraser Fifteen LLC, an institutional investor based in New Jersey.

July 12, 2021

Development Industrial Midwest Missouri

TSI Moves into New 40,000 SF Headquarters in St. Charles, Missouri

by Kristin Harlow July 12, 2021

ST. CHARLES, MO. — TSI Global Cos. LLC has moved into its new 40,000-square-foot headquarters in St. Charles, a northwest suburb of St. Louis. The technology company provides custom-built audio-visual systems, infrastructure cabling, electric and security systems. The project team included Al Droste & Sons Construction, Gray Design Group and developer 370 Tech Center LLC. TSI performed the cabling, technology and electrical systems engineering and installment. TSI also plans to open an office in Charlotte, N.C. in effort to facilitate major clients outside of the Midwest area.

July 12, 2021

Acquisitions Healthcare Indiana Midwest

Fairfield Advisors Arranges $88M Sale of Medical Office Building in Newburgh, Indiana

by Kristin Harlow July 9, 2021

NEWBURGH, IND. — Fairfield Advisors has arranged the $88 million sale of St. Vincent’s Orthopedic Hospital and Medical Office Building in southern Indiana’s Newburgh. Completed in 2019, the 136,000-square-foot building contains 10 operating rooms, 48 beds and a number of medical office suites. The facility is located at 10388 Warrick Trail. The tenant, St. Vincent’s Hospital, is part of the Ascension Health Network. Greg Trainor and Ben Whitney of Fairfield represented the seller, a physician group that developed the property. The buyer was undisclosed.

July 9, 2021

Newer Posts

Older Posts