NORMAL, IL-TNP Strategic Retail Trust Inc., an Irvine, CA-based REIT, has purchased the loan for Constitution Trail Centre for about $18 million. The 197,739-square-foot retail property is 65% leased and anchored by Schnucks Market and Starplex Cinemas.

The property was built in 1997. Steve Corea, SVP with TNP, says his firm purchased the construction loan with a mini-permanent loan attached from the lender. He tells GlobeSt.com that his firm will foreclose and acquire the title to the center, which is just a few miles north of Illinois State University.

“The central Illinois area is growing rapidly. Also, there are 10 competing properties, the closest being 2.5 miles away, that are on average about 95% leased,” Corea says. “The main problem is that this has been in the hands of a receiver for 10 months with no leasing activity. That’s something we’re going to fix.” He says the firm will be in negotiations quickly for tenants.

This site also includes almost 29 acres of land for future development. Corea says his firm would prefer to sell portions of this property to be developed, not take on another project itself.

BOLINGBROOK, IL-IDI has a lease here in the Chicago market. OHL, a full-service, third-party logistics provider, signed a 269,590-square-foot lease at Bolingbrook Corporate Center West Building II. Expanding the 183,500-square-foot space the company took in February 2010, OHL now occupies the entire 453,090-square-foot building. The facility was completed in 2008. Bolingbrook Corporate Center West, located at 1150 115th Street in Bolingbrook, Ill., consists of two buildings that total just less than 900,000 square feet. The buildings in the business park are now 100%occupied. Ben Cremer and Michael Robbins with NAI Hiffman represented IDI in the transaction, and JD Salazar with Champion Realty and Randy Wolcott with ProVenture represented OHL.

ITASCA, IL-Champion Fields, a sports training and team sport organization focusing on soccer, has leased 31,336 square feet at 853 Expressway Dr. Owned by principals long active in the soccer industry, Champion Fields is a new facility seeking to meet demand for indoor soccer in central DuPage County. Mike Hawryluk with Cushman & Wakefield of Illinois Inc. represented Champion Fields in the 63-month lease. Mark Baumhart and Brian Schmitz with Arthur J. Rogers & Co. represented the landlord, Platinum Partners LLC. The property is a one-story, 119,541 sf industrial building built in 1979 and renovated in 1995, on five acres along Interstate 290.

CHICAGO-A 22,000 square-foot office building formerly leased by the Chicago Patrolmen's Federal Credit Union was recently sold to a Chicago nonprofit service agency for $ 3.4 million. The building at is at 1359 W. Washington Blvd. The credit union has already relocated across the street to 1407 W. Washington Blvd. Mid-America Real Estate Corp.'s Luke Molloy represented the seller in the transaction along with Greg Bayer, while Bettye Reynolds with FJ Williams Realty represented the buyer.

GURNEE, IL-Credit Capital LLC and its partner the Richman Group has underwritten a $20.2 million private equity investment to construct the 100-unit senior apartment community to be known as Thomas Place - Gurnee at 401 N. Hunt Club Rd. The $25 million affordable-housing complex is also being financed with a $17.2 million construction loan and $4.25 million permanent loan from the Citibank. The complex will be developed by the Ryan Cos. and James Bergman using federal Low-Income Housing Tax Credits. Ryan and Bergman will sell tax credits received on the project for equity to construct the complex in exchange for restricting occupancy for a determined period of time to residents who earn 30% to 60% of the average median income in Lake County, IL as defined by the US Department of Housing and Urban Development. The property will offer various rental options to qualified seniors: 33 one-bedroom units with monthly rents ranging from $351 to $745 and 67 two-bedroom units with monthly rents ranging from $859 to $900. Completion is scheduled for Spring 2012.

ALGONQUIN, IL- The Boulder Group has completed the sale of a single tenant net leased ConocoPhillips property at 10 S. Randall Rd. here for $5.2 million. The 43,429-square-foot parcel was originally developed in 1995. The property is at the intersection of Randall Road and Algonquin Road in northwest suburban Chicago. The single tenant property is leased on a triple net basis to ConocoPhillips with 13 years remaining on the lease term. Randy Blankstein and Jimmy Goodman with Boulder represented the seller, a Chicago-based partnership. The purchaser was a private investor from Atlanta.

CREVE COEUR, MO-Cole Real Estate Investments recently purchased St. Luke’s Urgent Care here for $5.5 million. The urgent care facility is about 15,000 square feet. St. Luke’s Episcopal-Presbyterian Hospitals has a 15-year lease on the building.

DES PERES, MO-Gallagher Bassett Services Inc. renewed their lease and expanded their premises to a total of 7,386 square feet of Class A office space for 64 months at Corporate Hill II, at 1630 Des Peres Rd. here with I&G Corporate Hill LLC. Andrew Bagy with Gundaker Commercial Group Inc. and Eric Steffe with Grubb & Ellis Co.’s Corporate Services Group represented the tenant in this transaction. Matt Aljets and David Steinbach with Jones Lang LaSalle represented the landlord.

INDIANAPOLIS-Jones Lang LaSalle has arranged the lease for SmarTravel LLC, an Ohio-based travel company that sells vacations, to open its first Indiana office at the Keystone at the Crossing office complex on the city’s North Side. John Robinson and Abby Cooper on behalf of the complex’s owners, BPG Properties Ltd. SmarTravel will lease approximately 6,100 square feet. The tenant was represented in the transaction by John Crisp with Cassidy Turley. The five-building, 1.1 million-square-foot Keystone at the Crossing complex is now approximately 82% leased.

CINCINNATI-Beech Street Capital LLC has provided $7.7 million in Fannie Mae conventional loans to finance the acquisition of Stonelick Woods and Country Lake, a pair of Section 42 Low Income Housing Tax Credit communities in the Cincinnati area. The transaction was originated by Meridian Capital Group LLC. Stonelick Woods is a 176-unit property built in 1996 and located in Batavia, while Country Lake is a 128-unit property constructed in 1994 in nearby Goshen. The fixed-rate loan has a term of seven years, 6.5 years of yield maintenance, and a 30-year amortization schedule payable on an actual/360 basis. Kanett Curtis underwrote the transaction for Beech Street, while Nathan Burlingame was the closer. Jacob Katz was the Meridian broker.

MILWAUKEE-Durham School Services LP recently signed a lease for the 30,631 square foot building on six acres at 6001 N. 91st St. The property formerly housed General Lumber & Supply Co., which went out of business after 50 years. Pete Slezak and Kurt Van Dyke with Cassidy Turley Barry represented Durham School Services in the transaction, while Jeff Hoffman with Judson and Associates represented the landlord. Warrenville, IL.-based Durham School Services is one of the nation’s largest providers of student transportation services, and will use the site as a base for its Milwaukee operations, having recently been awarded a new contract for Milwaukee Public Schools.

PLYMOUTH TOWNSHIP, MI-Intertek leased a 103,857-square-foot warehouse at 45000 Helm here. Gary Glotzhober and Wayne Spiegel with Colliers International represented Intertek in this transaction.