The three buildings have a total of 44,310 sf of retail spaceand 28 apartment units. The apartment units are fully leased andthe retail space is 93% occupied. Two of the properties – 2200Clark St. and 801 Diversey St. – are in Chicago's Lincoln Parkneighborhood. The tenants at the 17,514 sf retail building at 801W. Diversey include Dunkin' Donuts, Back to Bed and PerformanceBicycle Shop. The building is approximately 20 years old and has 32parking spaces. Tenants at the 16,127-sf retail building at 4071Milwaukee St. include Dollar Tree, Subway and Athletico, Roth The retail building on Milwaukee Street wasconstructed about 14 years ago, he says.


The property at 2200 Clark St. has 28 apartment units inaddition to 10,669 sf of retail space, Roth says. The retailtenants are mostly locally-owned shops, such as a dance studio,Japanese restaurant and frozen dessert retailer, Roth The building was constructed in the 1890's or early1900's, Roth says.


Roth and Steve Kundert, another Cohen VP, secured the financing.The term of the acquisition financing is five years. The fixed ratenon-recourse loan has a 30-year amortization schedule priced on thefive-year US Treasury. The lender was a national life insurancecompany, which was not disclosed. The properties "representdifferent distinct submarkets within Chicago," with the LincolnPark South, Lincoln Park North/Lakeview and Six Corners submarkets,Roth says. The portfolio "provides a diversity of asset locationswhile still having solid retail locations within the city and highoccupancy," he says.

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