Closings of the properties are expected to take place over the next nine months, CMC Heartland Partners says, subject to due diligence, financing and government approvals.
CMC Heartland Partners, a successor company to the Milwaukee Road Railroad, did not disclose prospective purchasers. However, the Kinzie Station site reportedly is under contract to multifamily MCZ Development Inc., Jameson Realty Group and Fifield Cos., which is making forays into West Loop multifamily development after building office buildings.
Colliers, Bennett & Kahnweiler and Grubb & Ellis have been marketing the remaining 10-acre Kinzie Station development site since July. Earlier this year, CMC Heartland Partners received zoning for a $300-million phase that includes 1,694 units and a 50,000-sf Jewel Food store.
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