PEORIA, ILL. — PaPPo’s Pizzeria & Pub will open at Quincy Mall in Peoria this summer. The restaurant specializes in stone-hearth, oven-baked pizza and craft beer. Quincy Mall is the company’s first Illinois location, but it currently operates in Lake of the Ozarks, Columbia and Springfield, Missouri. PaPPo’s also serves calzones, sandwiches, salads, wings, breadsticks and its famous Pizookie, a brown butter chocolate chip cookie. PaPPo’s will occupy the current Que Town Bar-B-Que space. Que Town plans to relocate within the mall. Cullinan Properties Ltd. owns the property.
ANN ARBOR, MICH. — Beyond Juice Juicery + Eatery will open its 15th Southeast Michigan location at the new Uptown Ann Arbor project in Ann Arbor. Beztak Properties is the project developer. Beyond Juice will occupy 1,600 square feet. Billy Gershensen of the Gershenson Group represented Beyond Juice in the lease transaction. Michael Murphy, Vicki Gutowski and Larry Siedell of Gerdom Realty & Investment represented Beztak. Upon completion, Uptown will be home to 250 townhomes and luxury lofts as well as 17,220 square feet of ground-floor retail space.
CHICAGO — A partnership between funds managed by Oaktree Capital Management LP and GlenStar Properties has received a $256 million loan to refinance 141 W. Jackson, a historic, 1.3 million-square-foot office tower in Chicago’s central business district. Known as the Chicago Board of Trade Building, the 44-story skyscraper is the primary trading venue of the CME Group, a global markets company formed by a merger of the Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange. JLL arranged the financing provided by a domestic financial institution. Ownership plans to allocate a portion of the loan proceeds toward future leasing. The Chicago Board of Trade Building was originally constructed in 1930 for CBOT and was designated a National Historic Landmark on June 2, 1978. The building is a popular sightseeing attraction and has appeared in several films, including as the headquarters of Wayne Enterprises in “Batman Begins” (2005). Ownership has maintained and updated the building with modern amenities and technology, including a 24/7 fitness center; video conference center; rooftop deck and game room; Ceres Café Bar and Patio; Cellars Market; and a tenant lobby with concierge services. The building is home to a roster of retail, banking, healthcare, legal and …
CHICAGO — The NHP Foundation has reopened The Mark Twain, a historic single-room occupancy (SRO) affordable housing development on Chicago’s Near North Side. The $54.3 million renovation project consisted of 148 apartments, each equipped with rehabilitated private bathrooms and new private kitchenettes. Other upgrades included new plumbing, mechanical and electrical systems; a rooftop deck; restoration of the vintage façade and lobby; and 9,600 square feet of upgraded retail space on the ground floor. Rental assistance in the form of project-based vouchers will be provided by the Chicago Housing Authority (CHA) for each of the units at Mark Twain, ensuring long-term affordability. Fifty residents who lived at the property before the project began have returned to the renovated building. The remaining apartments will be leased to persons on the CHA waitlist. The city’s contribution included issuance of $27.3 million in multifamily housing revenue bonds, a $5 million multifamily loan and $1.3 million in low-income housing tax credits that generated $12.7 million in equity. The NHP Foundation acquired the property in 2016 as part of the city’s SRO Preservation Initiative. Since its passage in 2014, the initiative has led to the preservation of 11 buildings, consisting of more than 1,400 units. Architect …
CHICAGO — Origin Investments has purchased Monroe Aberdeen Place, a 120-unit apartment building in Chicago’s West Loop. The transaction, made on behalf of Origin’s IncomePlus Fund, was valued at $65.8 million. Developed in 2018, the property features 25 three-bedroom units, 92 two-bedroom units and three one-bedroom units. Floor plans average 1,118 square feet. Kiser Group represented Origin Investments in the off-market transaction. Michigan Avenue Real Estate Group, the property’s original developer, sold the asset, which was 99 percent leased at the time of sale.
CHICAGO — The Guidepost Montessori at Magnificent Mile School is more than doubling its lease at Optima Signature, an apartment tower in Chicago’s Streeterville neighborhood. The school will lease an additional 14,000 square feet, which is the last available retail space at the property, in order to open an elementary school. The school plans to open this fall and serve first through fifth grades. In addition to Guidepost Montessori, retail tenants at Optima Signature include Egg Harbor Café, GoodVets Streeterville, Runaway Fitness and Bedazzled Nails & Spa. Optima Signature is a 57-story, 490-unit luxury rental development. Optima Inc. is the developer.
SHIPSEWANA, GALVESTON AND RUSSIAVILLE, IND. — Mag Mile Capital has arranged a $4.3 million loan for the acquisition of three mobile home properties in Indiana. The three parks are located in Shipsewana, Galveston and Russiaville and contain a total of 183 home sites. Rob Bernstein and Matt Weilgus of Mag Mile arranged the five-year loan with an interest rate of 5.5 percent. Aran Capital was the borrower.
LENEXA, KAN. — Barre workout franchise Pure Barre has leased 1,521 square feet at The District at City Center Lenexa in Kansas. The location is expected to open in June. Pure Barre has more than 500 studios across North America and Canada. The company features four group class formats that offer workouts focused on low-impact, high-intensity movements. There are two existing Pure Barre locations in the Kansas City metro area. Erin Johnston of Copaken Brooks represented the landlord, Copaken Brooks. When fully developed, City Center Lenexa will consist of more than 2 million square feet of office, retail and residential space.
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EVANSTON, ILL. — Developer Condor Partners and seniors housing operator Solera Senior Living are developing Trulee Evanston, a 163-unit luxury community in Evanston. A JLL Capital Markets team led by Joel Mendes arranged construction debt and joint venture equity for the project. A national bank provided the debt and an institutional private equity fund manager provided the equity. Total project costs are estimated at $75 million. Construction will commence immediately with completion slated for 2021. The nine-story development will feature a mix of private independent living, assisted living and memory care units. Trulee will include multiple terraces and views of downtown Evanston and Lake Michigan.