Chicago development firm Mark IV Realty Group Inc. paid $14.5 million for 600 W. Jackson Blvd., an office building on the edge of the West Loop. The seller was a joint venture of Chicago-based Marc Realty LLC and Boston-based Winthrop Realty Trust, which reported the transaction in its second-quarter earnings release. The Gothic, eight-story structure was constructed in 1904. Among the tenants in the 107,200-square-foot building are contractor Reed Illinois Corp. and OKW Architects, according to real estate research firm CoStar Group Inc., which says the building is about 70% leased. Debt collector Harris & Harris is moving out of its 21,000 square feet in the building to the Merchandise Mart.
he U.S. Bankruptcy Court has approved the hiring of Millennium Properties R/E Inc. to sell a 78-unit apartment complex on Sheridan Road in Rogers Park. Built in 1923 and renovated four years ago, the building at 7645 N. Sheridan Road has an estimated net operating income of about $489,500, according to a brochure distributed to prospective buyers. The venture that owns the building filed for Chapter 11 protection from creditors on Feb. 29.
Company leases distribution space in Romeoville A company that makes tools and other equipment to service motor vehicles and watercraft has leased about 230,000 square feet for a distribution center in the Windgate Distribution Center in Romeoville. Southfield, Mich.-based SPX Service Solutions plans to begin operations in the fourth quarter at the facility, 1375-85 Weber Road in the far southwest suburb. RREEF, the investment advisory unit of Germany’s Deutsche Bank, owns the 658,060-square-foot building, whose other tenant is Levy Home Entertainment LLC, which leases about 428,000 square feet, according to real estate research firm CoStar Group Inc. SPX Service Solutions is a unit of Charlotte, N.C.-based manufacturing conglomerate SPX Corp.
Logistics firm leases space on South Side
An Ohio-based logistics company has leased almost 91,000 square feet in a building in the Calumet Business Center on the Far South Side. Mansfield, Ohio-based Mansfield Warehousing & Distribution leased 90,625 square feet at 1500 E. 97th St., a 242,107-square-foot building, according to Elmhurst-based Darwin Realty & Development Corp., which represented Mansfield and the landlord, New York-based real estate investor Ashley Capital, which owns the 12-building industrial park.
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