CHICAGO—Cohen Financial just closed a $73.5 million acquisition loan for the Illinois Science & Technology Park. The property, just purchased by American Landmark Properties, is a 24-acre, multi-building biotech and pharmaceutical campus located at 4901 Searle Pkwy. in Skokie, IL. The loan, which was arranged by Dan Rosenberg, managing director, and Matt Terpstra, vice president, closed on January 26, 2017. The Chicago-based duo secured a short-term, floating-rate loan with Prime Finance Partners of Chicago. This is the second acquisition transaction that Cohen Financial has arranged between American Landmark and Prime Finance within the last year. The park's key tenants include LanzaTech, a carbon recycling company, NorthShore University HealthSystem and Vetter Pharma, a German-based contract manufacturing company.

GREEN BAY, WI—NGKF Capital Markets has just completed the sale of Bellevue Town Center in Bellevue, WI, a Green Bay suburb, to Cincinnati-based Midland Atlantic Properties. Executive managing director Michael Dillon of the NGKF's Chicago team oversaw the transaction of the 75,000-square-foot institutional-quality food anchored shopping center on behalf of Rubicon US REIT Inc. Anchored by a Pick 'n Save food store, the center is 98.2% leased. It also features a national and regional tenant lineup of Target, H&R Block, Sally Beauty and Weight Watchers. “The low interest rate environment and lack of quality food-anchored assets on the market in the Midwest caused for great buyer demand and valuations that rivaled those of major market assets,” says Dillon. “As such, we received multiple offers from public and private entities for this institutional food-quality asset.”

GLENDALE HEIGHTS, IL—Rockwell Partners, a Chicago-based real estate investment and property management firm, has acquired a portfolio of 305 condominium units at Stonegate Condominiums in Glendale Heights, IL, approximately 30 miles west of Chicago. The units acquired by Rockwell include one and two-bedroom condominiums situated within a larger community. Property amenities include a clubhouse, fitness center, business center, pool, tennis courts, volleyball court and playground. The property is also located close to the I-355 expressway and Metra's Union Pacific West Line, and is surrounded by numerous shopping and fine dining destinations, including Stratford Square Mall. In 2013, Rockwell also purchased Ellyn Crossing Apartments, a 420-unit apartment community located directly across the street from Stonegate Condominiums.

BUILDING BLOCKS

ROLLING MEADOWS, IL—J.C. Anderson, Inc. has just completed a 20,000 square foot athletic club renovation at Continental Towers in Rolling Meadows. The work is part of GlenStar Properties' comprehensive renovation of the 910,000 square foot, class A office complex, located at 1701 Golf Rd. As reported in GlobeSt.com, GlenStar bought the three, 12-story towers in 2013, when the occupancy rate was less than 50%, and succeeded in attracting many new tenants. J.C. Anderson began this project by filling in an existing swimming pool. Construction included the addition of a new fitness room with rubber tile flooring, wood lockers, painted exposed concrete deck ceilings and acoustical clouds. The new space now features a glass mosaic wall, wood lockers as well as new porcelain tile showers and locker rooms. The firm's team was led by project executive John Angelovich, project manager Jason Hawkins and superintendent Gary Kuechler. Architectural services were provided by Williams Architects.

BY THE NUMBERS

CHICAGO—Luxury Living Chicago Realty recently published its 2017 New Chicago Apartment Guide, which provides information on the 33 new Chicago apartment buildings opening this year. There are 6,600 apartments in these buildings, the firm says, and not all will be downtown. Renters looking for new spaces will find many options in popular Chicago neighborhoods like Bucktown, Logan Square, and Evanston.

DEALTRACKER

CHICAGO—Cohen Financial just closed a $73.5 million acquisition loan for the Illinois Science & Technology Park. The property, just purchased by American Landmark Properties, is a 24-acre, multi-building biotech and pharmaceutical campus located at 4901 Searle Pkwy. in Skokie, IL. The loan, which was arranged by Dan Rosenberg, managing director, and Matt Terpstra, vice president, closed on January 26, 2017. The Chicago-based duo secured a short-term, floating-rate loan with Prime Finance Partners of Chicago. This is the second acquisition transaction that Cohen Financial has arranged between American Landmark and Prime Finance within the last year. The park's key tenants include LanzaTech, a carbon recycling company, NorthShore University HealthSystem and Vetter Pharma, a German-based contract manufacturing company.

GREEN BAY, WI—NGKF Capital Markets has just completed the sale of Bellevue Town Center in Bellevue, WI, a Green Bay suburb, to Cincinnati-based Midland Atlantic Properties. Executive managing director Michael Dillon of the NGKF's Chicago team oversaw the transaction of the 75,000-square-foot institutional-quality food anchored shopping center on behalf of Rubicon US REIT Inc. Anchored by a Pick 'n Save food store, the center is 98.2% leased. It also features a national and regional tenant lineup of Target, H&R Block, Sally Beauty and Weight Watchers. “The low interest rate environment and lack of quality food-anchored assets on the market in the Midwest caused for great buyer demand and valuations that rivaled those of major market assets,” says Dillon. “As such, we received multiple offers from public and private entities for this institutional food-quality asset.”

GLENDALE HEIGHTS, IL—Rockwell Partners, a Chicago-based real estate investment and property management firm, has acquired a portfolio of 305 condominium units at Stonegate Condominiums in Glendale Heights, IL, approximately 30 miles west of Chicago. The units acquired by Rockwell include one and two-bedroom condominiums situated within a larger community. Property amenities include a clubhouse, fitness center, business center, pool, tennis courts, volleyball court and playground. The property is also located close to the I-355 expressway and Metra's Union Pacific West Line, and is surrounded by numerous shopping and fine dining destinations, including Stratford Square Mall. In 2013, Rockwell also purchased Ellyn Crossing Apartments, a 420-unit apartment community located directly across the street from Stonegate Condominiums.

BUILDING BLOCKS

ROLLING MEADOWS, IL—J.C. Anderson, Inc. has just completed a 20,000 square foot athletic club renovation at Continental Towers in Rolling Meadows. The work is part of GlenStar Properties' comprehensive renovation of the 910,000 square foot, class A office complex, located at 1701 Golf Rd. As reported in GlobeSt.com, GlenStar bought the three, 12-story towers in 2013, when the occupancy rate was less than 50%, and succeeded in attracting many new tenants. J.C. Anderson began this project by filling in an existing swimming pool. Construction included the addition of a new fitness room with rubber tile flooring, wood lockers, painted exposed concrete deck ceilings and acoustical clouds. The new space now features a glass mosaic wall, wood lockers as well as new porcelain tile showers and locker rooms. The firm's team was led by project executive John Angelovich, project manager Jason Hawkins and superintendent Gary Kuechler. Architectural services were provided by Williams Architects.