Orland Park, Ill. — Quantum Real Estate Advisors Inc. has negotiated the $2.4 million sale of a 17,342-square-foot retail building in the Chicago suburb of Orland Park. The property, located at 16124 S. La Grange Road, was fully leased to Children of America and Bear Paddle at the time of sale. Chad Firsel of Quantum brokered the transaction. A Chicago-based private real estate investment group purchased the property from a San Diego-based development company.
Bolingbrook, Ill. — Mid-America Real Estate Corp. has arranged the sale of The Landings at Bolingbrook, a 112,622-square-foot retail center located in the Chicago suburb of Bolingbrook. PetSmart, OfficeMax, Planet Fitness and Modern Furniture anchor the 91 percent-occupied center, which is also home to an out-lot building leased to Duly Medical, Noodles & Company and For Eyes Optical. Ben Wineman of Mid-America represented the seller, an affiliate of Atlanta-based RCG Ventures, in the transaction.
Bolingbrook, Ill. — First National Realty Partners has acquired Maple Park Place, a 212,000-square-foot retail center located roughly 33 miles west of downtown Chicago in Bolingbrook. Rick Drogosz of Mid-America Real Estate Corp. represented the undisclosed seller in the transaction. The property is anchored by a 23,000-square-foot Aldi grocery store, as well as a 44,000-square-foot Burlington and a 32,000-square-foot Best Buy. Additional tenants at the time of sale included Advanced Auto Parts, Dollar Tree, Meineke, Benjamin Moore and X-Sport Fitness.
Hainesville, Ill. — Quantum Real Estate Advisors Inc. has brokered the $2.1 million sale of a multi-tenant retail center located on East Belvidere Road in Hainesville, a city in Northeast Illinois. At the time of sale, the property was leased by Starbucks Coffee, Chicago’s Red Hots, Luxe Salon and Lakemoor Dental. Jason Lenhoff of Quantum represented the seller, a locally based private investor. A Wisconsin-based private investor was the buyer.
Chicago — EQ Office, the U.S. office portfolio company wholly owned by Blackstone, has completed its more than $500 million renovation of Chicago’s Willis Tower. The 110-story tower is now certified LEED Platinum and is the largest building in the U.S. to achieve that designation, according to EQ Office. Part of the transformation is Catalog, a 300,000-square-foot retail, dining and entertainment destination at the base of the tower. The name Catalog is a nod to the Sears Roebuck Co. and its printed catalog. Designed by Gensler, Catalog features restaurants such as …
Plano, Waukegan and New Lenox, Ill. — Hanley Investment Group Real Estate Advisors has arranged the sales of three multi-tenant retail properties in suburban Chicago for a combined $10 million. The properties total 76,357 square feet and include Lakewood Springs Commons, a 26,300-square-foot center located at 200-270 Mitchell Drive in Plano; Cedar Center, a 22,370-square-foot property located at 100-196 West Illinois Highway in New Lenox; and Bay Ridge Court, a 27,687-square-foot center located at 422-484 North Green Bay Road in Waukegan. Dylan Mallory, Jeff Lefko and Bill Asher of Hanley, …
Memphis, Tenn. — Poag Shopping Centers has signed 14 new tenants to properties across its retail portfolio. New tenants include Mayweather Boxing + Fitness, 9292 Korean BBQ and OVME at The Avenue Peachtree City in Peachtree City, Georgia; Nothing Bundt Cakes at The Avenue Viera in Melbourne, Florida; Sola Salon Studios at The Avenue West Cobb in Marietta, Georgia; LensCrafters at Deer Park Town Center in Deer Park, Illinois; The Crack Shack, Nando’s, SkinSpirit and The Shade Store at LaCenterra at Cinco Ranch in Katy, Texas; the Museum of Dream Space …
Chicago — Maverick Commercial Mortgage Inc. has arranged a $14 million first mortgage loan for a 103,550-square-foot retail property occupied by Home Depot in Chicago’s Chatham neighborhood. Earlier this year, Home Depot signed a new 10-year lease with MG Development LP for the property, which is located at 200 W. 87th St. and includes an exterior garden center. A regional bank provided the 10-year, floating-rate loan, which features a 25-year amortization schedule. Proceeds from the loan paid off the existing lender, provided cash to the borrower and paid for closing costs.
Chicago — Silvestri Investments Inc. has acquired the flagship Neiman Marcus building located at 737 N. Michigan Ave. within Chicago’s Magnificent Mile, a 13-block shopping district that attracts more than 30 million visitors annually. The transaction is one of only eight trades on Michigan Avenue over the past decade, according to JLL, which brokered the sale. The luxury department store chain has operated its 195,500-square-foot location since the four-story building was constructed in 1983. The 1.2-acre Neiman Marcus boasts the largest continuous frontage on Michigan Avenue at 200 feet. Amy …
North Riverside and Elmhurst, Ill. — Mid-America Real Estate Corp. has brokered the sale of two shopping centers in suburban Chicago. North Riverside Plaza is a 384,707-square-foot regional shopping center in North Riverside. Tenants include Kohl’s, Burlington, Best Buy, Petco, Michaels and a new grocery store that is currently under construction. Elmhurst Crossing is a 347,505-square-foot, grocery-anchored shopping center in Elmhurst. Major tenants include Whole Foods Market, Kohl’s, At Home and Petco. Ben Wineman and Kathryn Sugrue of Mid-America represented the longtime owner and seller, Federal Construction. Brixmor Property Group …
