CHICAGO-A mixed-use multifamily and retail property at 1801-1911 N. Clybourn was sold to a developer for just under $2 million. The 1930s asset has been in the same family since the 1930s; a family that ran the US Beer Co., which operated out of the building's retail portion.

The property at the corner of Clybourn and Sheffield Avenues includes seven apartments and one retail space, as well as additional income from signage on the north side of 1801 N. Clybourn.

The seller was represented by Kyle Stengle with Marcus & Millichap Real Estate Investment Services. Stengle and Marcus & Millichap colleague Stephen Rachman represented the buyer, which has extensive renovation and retenanting plans for the building.


DEVELOPMENT

ELGIN, IL

  • Morgan/Harbour Construction Co. was selected to complete a 76,000-square-foot building expansion for American NTN Bearing Manufacturing Corp. at 1700 Holmes. The industrial expansion will include the construction of a 76,081-square-foot addition to an existing manufacturing building. Ben Warriner is the project executive and Josh Peters is the project manager for Morgan/Harbour. Carry Myers is overseeing the construction on behalf of Maeda Corp., the construction manager.  Harris Architects is providing architectural services.

SIOUX CITY, IA

  • Irgens and St. Luke’s broke ground on Sunnybrook Medical Plaza, an 86,315-square-foot, state-of-the-art medical center on 16 acres. The two-story glass and masonry facility will serve as a regional hub for healthcare delivery in the tri-state area.  In addition to Irgens and St. Luke’s, project team members include Eppstein Uhen and Cannon Moss Brygger & Associates as architects, along with W.A. Klinger as general contractor.

ACQUISITIONS/DISPOSITIONS

GRAND RAPIDS, MI

  • James O'Rourke Inc. sold an 8,394-square-foot industrial building at 1017 Cottage Grove St. SE to Weigers Properties LLC.  Cathy Bottema of Signature Associates, a member of the Cushman & Wakefield Alliance, brokered the transaction.

MASON, OH

  • Viking Partners Deerfield South, LLC sold the 20,150-square-foot Shoppes of Deerfield South for $3.2 million to Squire Hill Properties II LLC. Colliers International’s Cincinnati Investment Services' Steve Timmel, Jeff Johnston and Chris Prosser brokered the transaction.

REDFORD, MI

  • YMCA sold 62,000 square feet at 25940 Grand River Ave. to Detroit West Prep Academy. Joe Banyai and Steve Gordon of Signature Associates, a member of the Cushman & Wakefield Alliance represented the seller.

ROMULUS, MI

  • Eureka International LLC sold 90 acres on Eureka Rd. to 4L Ventures LLC. Brad Viergever and Jack Townsend with Signature Associates, a member of the Cushman & Wakefield Alliance represented the seller. Viergever and Signature colleague Steve Gordon represented the buyer.

SKOKIE, IL

  • Local Missner Group acquired two industrial properties totaling 68,000 square feet in St. Charles and Carol Stream, IL. In St. Charles, Missner bought a 40,000-square-foot masonry industrial property at 2530 Production Dr. Brian Kling of Colliers International represented the seller. The property acquired in Carol Stream was a 27,880-square-foot masonry industrial property at 640 Kimberly Dr. Colliers International negotiated the sale-leaseback transaction. Barry Missner and Edward M. Adler self-represented the Missner Group in both commercial real estate transactions.

WATERFIELD, MI

  • Dr. Weinberg sold 6,357 square feet of office space at 2490 Airport Rd. to Hagan Morgan Enterprises. Joe Banyai and Steve Kozak of Signature Associates, a member of the Cushman & Wakefield Alliance represented the seller.

LEASES

BROOKLYN CENTER, MN

  • United Glass signed a 22,000-square-foot lease at 6820 Shingle Creek Pkwy. Brent Masica with Cushman & Wakefield/NorthMarq secured the lease for United Glass. Noam Newman of Cassidy Turley represented the landlord, 6820 Shingle Creek Parkway Holdings LLC.  

KENTWOOD, MI

  • Kentwood Pizza, dba Dominos Pizza leased 1,750 square feet at 3151 Breton Rd. SE. Dave Zeemering with Signature Associates, a member of the Cushman & Wakefield Alliance represented the landlord, J & P Property Management LLC.

MUSKEGON, MI

  • Franklin Interests LLC leased 10,492 square feet of retail space at 3524 Green. Jim Olsen with Signature Associates, a member of the Cushman & Wakefield Alliance, represented the tenant, which will open Kangaroo Palace, the area's first "bounce" facility for kids.

OSHTEMO, MI

  • Mega Bev Oshtemo leased 11,900 square feet of retail space at 6619 Main. Jeff Chrystal with Signature Associates, a member of the Cushman & Wakefield Alliance represented the tenant, which is opening its fourth packaged liquor store location.

LEASING ASSIGNMENTS

CHICAGO

  • Cloverfield Inc. c/o Colonnade Management Inc. awarded the leasing assignment for the 158,000-square-foot office building 19 South LaSalle St to Transwestern. Transwestern’s Teddy Walsh and Kristen Baker will serve as leasing agents for the project.

CAPITAL MARKETS

MINNEAPOLIS

  • Michael Padilla with NorthMarq’s Minneapolis regional office arranged a $29 million construction loan for Track 29, a to-be built 198-unit market-rate apartment complex located on Bryant Avenue South in Minneapolis.  Financing was based on a 3-year interest-only term and was arranged for the borrower by NorthMarq through its relationship with a regional bank.

EXECUTIVE MOVES

CHICAGO

  • Catherine L. Lynch was appointed as a director to Inland Group Inc.'s board. In this position, Lynch will join the board that consists of the four original principals of Inland: Daniel L. Goodwin, Robert H. Baum, G. Joseph Cosenza and Robert D. Parks.  She will retain her duties as the chief financial officer and due diligence director of Inland Real Estate Investment Corp., a subsidiary of The Inland Group, Inc.
  • Charles W. Wagener joined Lillibridge Healthcare Services Inc. as executive vice president of property management and leasing. Wagener's previous company was Metropolis Investment Holdings Inc.  He also worked for Equity Office Properties Trust and Hines Interests LP.
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