CHICAGO-Alliance Residential Management will run the day-to-day operations of the class-B assets acquired by the fund, while an affiliate does the necessary upgrades needed to turn them around.

CHICAGO-Former president and CEO Edwin Jacobson's defamation lawsuit is dismissed in Cook County Circuit Court, as well as a motion attempting to bar Heartland Partners LP from selling assets, including a 142-acre site in Milwaukee.

HUNTLEY, IL-The retail REIT pays Huntley Development LP and Huntley Meadows Residential Venture $9.3 million to gain a 52% stake in the development of 650 acres near the Sun City development northwest of Chicago.

OAK BROOK, IL-Inland Retail Real Estate Trust Inc. pays $208 per sf to Commercial Net Lease Realty Services for a portfolio concentrated heavily in the Dallas-Fort Worth area.

CHICAGO-Rev. James T. Meeks entered the political arena last year, winning a state senate seat. He also has donned a developer's hat, proposing a $42-million, 270,000-sf church and community center northwest of the 115th Street interchange at the Bishop Ford Expressway.

ROMEOVILLE, IL-Triple A Services has paid $3.6 million for the 61,120-sf building at 1225-27 Lakeside Dr., where it will occupy half of the building and rent out the rest.

ELGIN, IL-Wisdom Adhesives has bought a 31,050-sf building at 1575 Executive Way from CenterPoint Properties, which had been open to a lease deal, while Elarasys Properties LLC has acquired 180 Corporate Dr. in separate deals totaling more than $3 million.

CHICAGO-A full-service bank is one option already being explored for the former El Centro Supermarket at 47th Street and Honore Avenue, which has been vacant for about five years. The city will try to acquire the property, which traded for $320,000 three years ago, for fair market value.