The deals included a 29,000-sf building on 1.2 acres at 7313 N.Harlem Ave., which will be torn down and replaced by a 15,000-sfretail center by developer Joseph Marchechi. He paid nearly $2.1million for the property, financing the purchase with a $1-millionloan from Plaza Bank at 4.5%, according to property records.
Also changing hands was a 56,000-sf warehouse at 940 GreenleafAve., now owned by Chicago Downs Association, which paid $1.5million for the property. It used a $450,000 loan from Bank One,according to property records, to close the deal.
Millennium Properties, Inc. associate Ben Rosenfield representedRevere Mills, Inc. on both sales. "Both deals were pretty complex,a coordination of two sales including the terms to each deal had tocorrespond to make Revere Mills' move to a larger facility moreefficient," he says.
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