Midwest

CHICAGO — Lathrop Community Partners, a development partnership between Related Midwest, Heartland Housing and Bickerdike Redevelopment Corp., has revitalized the Julia C. Lathrop Homes public housing project in Chicago. Originally built in 1938 as part of the nation’s New Deal public housing effort, the project now consists of a mixed-income residential property. The rehabilitated North Campus includes the original administration building and updated apartment buildings along the re-activated riverfront. The 35-acre project features 16 buildings. Design firm HED served as the executive architect for Phase I of the redevelopment, which is now open. The firm helped with modernizing historic structures, addressing accessibility challenges and coordinating new technology and HVAC systems. When all phases are complete, Lathrop will comprise a total of 1,116 residences, with 494 units leased at market rates, 222 offered to working families that meet affordable housing guidelines and 400 reserved for Chicago Housing Authority households. The flagship amenity at Lathrop is the five-acre riverfront park, reimagined by landscape architectural firm Michael Van Valkenburgh Associates. The project team also included Farr & Associates, JGMA, McGuire Igleski & Associates and Terra.

FacebookTwitterLinkedinEmail

ELGIN, ILL. — Darwin Realty has arranged the sale of a 90,000-square-foot industrial building located at 501 Davis Road in Elgin. Consideration for the sale was in excess of $5 million. The property features seven loading docks, three drive-in doors, 5,000 square feet of office space and a clear height of 24 feet. Noel Liston of Darwin brokered the transaction. Chicago Logistic Service owned and occupied the building. Navis Industries, which provides plastic packaging films, purchased the building and plans to relocate from a 25,000-square-foot facility in Elgin.

FacebookTwitterLinkedinEmail

ELK GROVE VILLAGE, ILL. — Pacific Surfaces LLC has signed a 40,000-square-foot industrial lease in Elk Grove Village. The India-based granite distributor has maintained a sales office in Chicago for several years, but this is the company’s first warehouse in the United States. Located at 1300 Mark St., the single-story facility features six docks, several bridge cranes and a clear height of 22 feet. It is situated in Elk Grove Industrial Park. The new property will enable Pacific Surfaces to sell smaller quantities to a broader market. John D’Orazio of Colliers International represented Pacific Surfaces in the lease transaction.

FacebookTwitterLinkedinEmail

MILLSTADT, ILL. — Barber Murphy has brokered the sale of a 21,000-square-foot industrial building in Millstadt, about 17 miles southeast of St. Louis. The sales price was not disclosed. The property is located at 600 S. Breese St. In-Land Management Group LLC sold the asset to East Washington Street Property LLC. Barber Murphy represented both parties in the sale.

FacebookTwitterLinkedinEmail

CALEDONIA, MICH. — Taco Bell will open a 2,710-square-foot location at 6445 Cherry Meadow Drive SE in Caledonia, about 20 miles southeast of Grand Rapids. The restaurant is expected to open in November and create 40 jobs. Mike Murray of Colliers International assisted Taco Bell in securing land for the new-construction building. Wolverine Building Group was the general contractor. There are 55 Taco Bell locations across West Michigan, according to Colliers.

FacebookTwitterLinkedinEmail

CHANNAHON, ILL. — Amazon has unveiled plans to open a fulfillment center in Channahon, southwest of Joliet. The facility will create more than 500 new full-time jobs. Employees at the more than 1 million-square-foot center will pick, pack and ship large items, such as sports equipment, patio furniture, fishing rods, pet food, kayaks, bicycles and household goods. Amazon currently employs more than 11,000 full-time associates throughout the state of Illinois.

FacebookTwitterLinkedinEmail

DAVENPORT, IOWA — Berkadia has arranged the sale of a 413-unit, four-property multifamily portfolio in Davenport for an undisclosed price. The properties, built in the late 1970s, include The Racquet Club, Candlelight Commons, Candlelight Village and Candlelight Colony. Parker Stewart, Alex Blagojevich and Michael Sullivan of Berkadia represented the seller, Iowa-based Advance Homes Inc. Colorado-based Monarch Investment and Management Group purchased the portfolio. Peter Benedetto of Berkadia secured an undisclosed amount of acquisition financing on behalf of the buyer.

FacebookTwitterLinkedinEmail

SEVEN HILLS, OHIO — Anchor Cleveland has negotiated the sale of a 120,000-square-foot property formerly occupied by Kmart in suburban Cleveland for $3.5 million. The 14-acre sale also included vacant land and existing adjacent buildings. Matt Wilson of Anchor Cleveland represented the buyer, Meijer Stores. Florida-based Kin Properties was the seller.

FacebookTwitterLinkedinEmail

COLUMBUS, OHIO — Marcus & Millichap has brokered the sale of a 3,480-square-foot property net leased to Sherwin-Williams in Columbus for $1.9 million. Built in 2016, the property is located at 634 S. High St. Dan Yozwiak of Marcus & Millichap marketed the building for sale on behalf of the seller, a limited liability company. Yozwiak also represented the buyer, a limited liability company.

FacebookTwitterLinkedinEmail

ST. AUGUSTA, MINN. — KW Commercial has arranged the sale of Delux Retail Center, a 15,310-square-foot retail center in St. Augusta near St. Cloud. Snap Fitness and Delux Liquor anchor the property, which is located at 24086 State Highway 15. Matthew Klein and Anthony Passanante of KW Commercial/AMK Properties represented the buyer, MSK Realty LLC, which purchased the asset for $975,000. Steve Feneis and Maria Berdan of Granite City Real Estate represented the undisclosed seller.

FacebookTwitterLinkedinEmail