CHICAGO- Rochester, NY-based Home Properties has bought the Blackhawk apartment community in Elgin for $17.5 million in cash and debt. The trust plans on spending $1.6 million over the next three years on the complex.

CHICAGO-Flush with hundreds of millions of dollars, the Miller brothers plan focused development investments in smaller business parks, long-term land investments and suburban B and C building redevelopment plays.

CHICAGO-Banyan REIT's board says it has authorized negotiation of a contract for the sale of all the trust's assets to an unidentified buyer. The board says it hopes to conclude the sale by the end of the first quarter, with net proceeds to shareholders from the sale possibly reaching $6.20 per share.

CHICAGO-New York-based W.P Carey & Co. has entered into a $3.3 million sale-leaseback agreement with Universal Technical Institute for a Glendale Heights building.

CHICAGO-The nation's largest diversified industrial REIT meets third quarter expectations, with per share FFO rising 9.4%. Executives are predicting the trust will now deliver earnings and return on assets that are among the best for pure play industrial REITs, while analysts say returns are likely to be closer to the average.

CHICAGO-Manufactured Home Communities REIT's third quarter FFO fell 10.5% in the third quarter to $15.4 million. The REIT says its expects 2001 FFO to grow by as much as 10%.

JOLIET, IL-CenterPoint REIT execs say they are getting strong interest for the $1 billion Joliet Arsenal redevelopment, one of the nation's premier industrial projects. The COO says the trust is in negotiations to locate a large power plant at the 2,242-acre site, while up to four million-sf of industrial space are also in serious negotiation.

ELK GROVE VILLAGE, IL- Investment Real Estate Services Inc. has added a five-building industrial complex to its portfolio of properties.