DOWNERS GROVE, IL—Adelphia Properties has arranged the sale of a newly constructed, two-tenant retail building located at 1201 Ogden Ave. in Downers Grove, IL. The property, a 5,305 square-foot retail building, sold for $4.1 million and is occupied by BMO Harris Bank and Chipotle Mexican Grill. As reported in GlobeSt.com, demand for such properties, especially ones occupied by banks, have been in high demand. Adelphia Properties' Simeon Spirrison and George Spirrison represented the buyer in the transaction.
CHICAGO—Mesa West Capital recently originated two loans worth a total of more than $67 million so developers could reposition or acquire local properties. The first, a $37.5 million first mortgage loan that Tucker Development and its capital partner Acadia Realty Trust will use to reposition 10 vacant historic buildings in Chicago's burgeoning Fulton Market district. Highland Park, IL-based Tucker acquired the roughly 91,000-square-foot portfolio in January 2016 and will use the loan to preserve and rehabilitate the mix of two- and four-story brick buildings, some of which date back to 1890.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
