Midwest

SAUKVILLE, WIS. — Colliers International has brokered the sale of a 71,931-square-foot industrial facility in Saukville, about 25 miles north of Milwaukee. The property is located at 300 Dekora Woods Road. Bill Langhoff and Tom Shepherd of Colliers brokered the sale. Dekora Woods 13 LLC purchased the asset for an undisclosed price.

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WHITING, IND. — Holladay Properties plans to break ground on an apartment project known as The Illiana on Monday, July 8 in Whiting, which is about 16 miles south of Chicago. The project will feature 32 apartment units and 4,000 square feet of first-floor commercial space. The development, located at the southeast corner of 119th Street and Atchison Avenue, is named for the Illiana Hotel, which stood at the site from 1928 until it was demolished in 2018. Holladay is the owner and developer. Curran Architecture is the project architect and Holladay Construction Group LLC is the general contractor. A timeline for completion was not disclosed.

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WINFIELD, ILL. — Conor Commercial Real Estate has completed development of the North Avenue Commerce Center in Winfield, about 35 miles west of Chicago. The 265,550-square-foot, Class A industrial facility is the largest commercial development in Winfield’s history, according to Conor. The speculative project sits on 17 acres and features a clear height of 32 feet, 56 exterior docks, four drive-in doors, 12 trailer parking stalls and 228 vehicle parking stalls. McShane Construction Co. served as general contractor and Ware Malcomb provided architectural services.

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INDIANAPOLIS — Berkadia has negotiated the sale of Park Place at Fox Hill, a 60-unit, garden-style apartment community in Indianapolis. The sales price was not disclosed. Originally built in 1970, the property features 15 one-bedroom units measuring 750 square feet and 45 two-bedroom units measuring 950 square feet. Chris Bruzas and Alex Blagojevich of Berkadia represented the seller, Indianapolis-based Barratt Asset Management. Champaign, Ill.-based Fairlawn Real Estate purchased the asset.

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NORTHLAKE, ILL. — Frozen Assets LLC has signed a 124,409-square-foot industrial lease at 555 Northwest Ave. in Northlake, about 17 miles west of Chicago. Frozen Assets is a third-party provider of temporary storage, turn-key packing, labeling and logistics for the cold storage industry. Steve Livaditis, John Suerth and Jason Lev of CBRE represented ownership, Bridge Development Partners, in the lease transaction.

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CARBONDALE, ILL. — Captain D’s has opened its sixth Illinois location in Carbondale. Located at 1040 E. Walnut St., the company-owned restaurant spans 1,950 square feet. With 290 company-owned locations, Captain D’s plans to continue its growth in various territories, including the Midwest, with another restaurant slated to open in Wisconsin later this year. There are currently 544 open and operating Captain D’s restaurants throughout the nation.

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MINNEAPOLIS — Kraus-Anderson has completed construction of Ironclad, a new $100 million mixed-use development located at Chicago and Washington avenues in the historic Mills District near U.S. Bank Stadium in downtown Minneapolis. Owned and developed by Kharbanda Management, the 418,864-square-foot project includes residential, hospitality and retail space within the East Town district and the Downtown East neighborhood. Designed by Minneapolis-based Collage Architects, the project features a 14-story, 172-unit apartment building and an eight-story Moxy-branded hotel. Managed by Graves Hospitality Corp., the 140-room Moxy hotel is part of a new hotel franchise by Marriott Hotels. Moxy is a boutique concept focused on millennials, combining both style and affordability. Ironclad is situated on the site of the former Union Grain Elevator, which was built in 1867 and was one of the earliest and largest wood grain elevators in Minneapolis. The Chicago, Milwaukee and St. Paul railways used the grain mill as a connection into the rail facilities in the Mill District. The Ironclad name stems from a fire in the historic building that damaged its original wooden elevator, which was rebuilt with an “iron clad” elevator to better protect the structure against future fires.

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GRAND RAPIDS, MICH. — Pioneer Construction has completed construction of 601 Bond Apartments in downtown Grand Rapids. Ghafari Associates provided architecture and interior design services for the 16-story, 202-unit development. Time Equities is the developer and KMG Prestige is the property manager. The property includes covered parking and 4,000 square feet of retail space. Additional amenities include a rooftop deck, fitness center, lounge and pet grooming station. Monthly rental rates start at $1,399.

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CHICAGO — Essex Realty Group has brokered the sale of a 41-unit multifamily building in Chicago’s Logan Square neighborhood for $5.3 million. The property is located at 1627 N. Humboldt Blvd., near the 606 Bloomingdale Trail. The 33 studios and eight one-bedroom units are fully renovated. Doug Imber, Kate Varde and Clay Maxfield represented the seller, a venture of 1627 N. Humboldt HHI LLC. The seller purchased the property for $2.8 million in 2015. Jim Darrow, Jordan Gottlieb and Jordan Multack represented the buyer, 1627 Humboldt LLC.

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NEW BERLIN, WIS. — Founders 3 Real Estate Services has arranged a 28,930-square-foot flex industrial lease in New Berlin. Brett Deter and Scott Revolinski of Founders 3 represented the landlord, LCM Funds 50 Tennis LLC. The tenant, GWI Ventures LLC, is a company founded to expand opportunities for youth and adult sports in Southeast Wisconsin. It intends to develop an indoor sport court facility for operating leagues and providing training space.

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