Closer highlights for Feb. 14 - Closer

Sale


A venture of Sears Holdings Corp. paid about $4 million last month for a Kmart store on the South Side. A venture of the trust for Santa Monica, Calif.-based investor Arthur Gilbert sold the store at 5050 S. Kedzie Ave., records show. Kmart is a wholly owned subsidiary of Hoffman Estates-based Sears. A Sears spokeswoman did not have an immediate comment. A message left with Mr. Gilbert was not returned.

Foreclosure


A venture of Miami Beach, Fla.-based loan servicer LNR Partners LLC sued last month to collect about $16.4 million from the owner of a 99,451-square-foot shopping center in northwest suburban Lake in the Hills. LNR attempted last year to auction the $15.1 million loan balance secured by the Center at Lake in the Hills, 101 N. Randall Road. The property fell on hard times after losing its second-biggest tenant, Hollywood Video. A spokesman for LNR declines to comment, and Farmington Hills, Mich.-based venture capitalist Sanford Aaron, who leads the center's ownership group, did not return a message. Related story: Shopping center's loan to be auctioned

Mortgage


A venture of Champaign-based apartment landlord Bankier Apartments borrowed $1.95 million last month to refinance a Rogers Park apartment building. Champaign-based Busey Bank issued the mortgage for 1326 W. Lunt Ave., records show. The new mortgage retires a $1 million mortgage issued in 1996 by Busey Bank. Attempts to reach Bankier founder Leon Bankier were unsuccessful, and a spokesman for Busey Bank could not immediately comment.

Construction Pipeline


Northwestern University plans a $5 million expansion of its Technological Institute at its Evanston campus, according to BidClerk.com. The university plans a six-story, 50,000-square-foot addition with an atrium, office space and laboratory space, according to BidClerk. Construction is expected to start in spring 2013. An NU spokesman could not immediately comment.

Comments

Popular posts from this blog

The ghost estates that still haunt Ireland

Generic Sildalist (Sildenafil Citrate 100 mg + Tadalafil 20 mg)

Seven Casa Del Rio apartment units sold at launch