650 E. Algonquin Road, Suite 201, Schaumburg, IL 60173

    Commercial and Investment Realtors

The following are properties which have been sold by the principals and associates of DK Realty Partners.  For additional information, please call or e-mail the contact listed with each property.

DK REALTY PARTNERS INKS MULTI-MILLION DOLLAR SALE OF 

TWO COMMERCIAL PROPERTIES IN BLOOMINGDALE AND EAST DUNDEE, IL  

Commercial properties built in 2002 

have 15-year net leases to Tutor Time Learning Systems. 

As part of a partnership liquidation, DK Realty was selected to handle the marketing, negotiation and sale of the two properties.  DK Realty has over 20 years of experience handling these types of transactions and has a proven track record in both commercial real estate sales and property management functions.

“In this type of situation, the liquidation of commercial real estate lends itself to a greater sense of urgency,” said Paul G. Demik, Managing Partner, DK Realty. “You have to look for expediency of the transaction, without minimizing the value of the deal.  These properties actually were a win-win situation for both buyer and seller.  The seller received their price, and the buyer purchased two properties with long term leases and plenty of upside potential.”

If you would like additional information on the property, contact Paul Demik at 847/397-8900 x217 or pdemik@dkrealty.com

DK REALTY PARTNERS CLOSES MILLION DOLLAR SALE OF COMMERCIAL PROPERTY IN ARLINGTON HEIGHTS, IL

Commercial property located near Route 53 and Dundee Road, situated in growing business/office park area  

DK Realty Partners, LLC announced today the negotiated sale of a commercial building located at 11 W. College Avenue, Arlington Heights, IL.  The transaction was a 27,000 square foot one-story, multi-tenant office/service building selling for $1,625,000.  The property at the time of sale was nearly 100 percent leased.

DK Realty was selected based on a track record in the area and their expertise in marketing, and ensuring that the seller realized close to their asking price, while helping the buyer secure a valuable investment. DK Realty has over 20 years of experience handling these types of transactions and has a proven track record in both commercial real estate sales and property management functions.

“The area near Route 53 and Dundee Road is seeing a resurgence in popularity for business.  It used to have a dominant industrial presence,” said Paul G. Demik, Managing Partner, DK Realty. “Our understanding of these trends, really helped us in marketing the property and ensuring that the seller and buyer felt it was a mutually beneficial real estate transaction.”

 If you would like additional information on the property, contact Paul Demik at 847/397-8900 x217 or pdemik@dkrealty.com

DK REALTY PARTNERS CLOSES SALE OF NAPERVILLE, IL

RAILWAY PLAZA PROFESSIONAL BUILDING

AND LAND PARCEL PART OF PUD PROJECT

 Professional building near train station and highways for easy access to city and outlying suburbs -- Perfectly situated near residential community with ample commercial and retail shopping located nearby. 

DK Realty Partners, LLC announced today the negotiated sale of the Railway Plaza Professional Building located at 507 Fairway Drive, Naperville, IL.  The transaction consisting of a three-year-old 9081 square foot free standing brick building, and an attached 43,528 square foot land parcel sold for $1.25 million.  The land parcel is part of a large PUD consisting of two retail centers, a childcare center and an upscale, free standing restaurant. 

The Railway Plaza is located at the South Naperville Railroad Station and is ideally suited for commuters.  “This building is really a great fit for professionals that may need to go into the city for a meeting or have business in the surrounding suburbs,” said Paul Demik, Partner of DK Realty Partners.  “Naperville has been cited as one of the best places in the country to raise a family, and this town has a proven ability to plan and attract businesses of all types, making Naperville a desirable commercial and residential place for real estate development and investment.”

The purchaser of the Railway Plaza was by a private investor that maintains significant real estate holdings in the Naperville, IL area.  DK Realty Partners, LLC was selected to sell the property based on its proven track record of promoting and completing real estate transactions in both commercial and retail environments.

“The commercial real estate market in 2005 should be strong for us,” said Demik.  “We are seeing significant real estate transaction opportunities across the board in terms of geography and applications.  Additionally, a wide variety of creative financing options is available, reinforcing interest in buyers and investors.”

If you would like additional information on the property, contact Paul Demik at 847/397-8900 x217 or pdemik@dkrealty.com

David M. Kaufman, CCIM, a principal of Schaumburg based DK Realty Partners, LLC (www.dkrealty.com), has announced the closings of the sales of two shopping centers for a total consideration of $25,525,000.

The 90,000 square foot four year old ROCKFORD CROSSING SHOPPING CENTER, located at the northwest corner of State and Perryville Roads in Rockford, Illinois sold for $14,325,000. Tenants in the property included Best Buy, Linens ‘n Things, Hallmark Card, Quiznos and Great Clips. “We were able to generate nine firm offers in a very short period of time and marketed heavily through the use of the Internet including placement of all due diligence materials on a restricted website thus streamlining our sale process and substantially reducing the purchaser’s due diligence period. The marketing budget only required $5,000.” said Mr. Kaufman.

According to Stephen A. Weiss, a principal of the seller, Halyard Group, LLC, “This sale represented a return to our investors of over 80% on their invested capital in addition to their annual cash flow of 10% during the two and a half year holding period.”

Another principal of Halyard Group, LLC, Larry Blankstein, commented, “Our firm owns property principally in the Chicago area and the Midwest. We are currently negotiating to acquire three new properties. We’ll buy fully rented property or, similar to the Rockford Crossing Shopping Center, we will acquire, finish build outs and complete the leasing of investment properties.” Lincolnwood, Illinois based Halyard Group, LLC (www.halyardequities.com) is a commercial real estate investment firm that makes investments in income property available to qualified investors.

The purchaser of the property was Kimco Realty (NYSE: KIM) which is the nation's largest publicly traded owner and operator of neighborhood and community shopping centers, with almost 700 properties in 40 states, comprising approximately 100 million square feet of leasable space. 

Halyard Group, LLC was represented by Martin Becker and Beth Sansiper of the Highland Park, Illinois based law firm, Becker & Gurian. Mr. Kaufman was the sole broker in the transaction.

The 94,400 square foot 47 year old GREEN OAKS SHOPPING CENTER located at the southeast corner of 95^th and Cicero in Oak Lawn, Illinois was closed for $11,200,000 as a result of a public live cry auction conducted by Mr. Kaufman at The Union League Club of Chicago. Green Oaks has approximately 92,000 square feet of in-line stores and a one story 2,400 square foot building on an out-lot pad that is occupied by Wendy's.

Green Oaks has a total of 17 tenants and the center enjoys 100% occupancy. Tenants include Marshalls, Carpetland, Sav-a-Lot, H&R Block, American Vision, Hair Cuttery, Sylvan Learning Center and Leslie Pool Supply. The center is located four miles East of I-294 (Tri-state Tollway) and five miles West of I-94 & I-57. The property was free and clear at the time of the offering and was sold by the original developer’s land trust.

Mr. Kaufman said, “This property sold at price reflecting a 7.75% capitalization rate in an absolute live bidding auction. There was no reserve nor minimum bid. The sale contract allowed no due diligence period, no mortgage contingency and furthermore, required $100,000 cashiers checks for bid deposits with a requirement on the high bidder to increase the earnest money to 5% of the high bid at the conclusion of the bidding. The contract also required that the buyer was accepting the property in ‘as-is’ condition.

“In spite of these requirements, there were 17 registered bidders and given its age and condition the property commanded a strong price in 6 minutes of bidding. All this was accomplished with a marketing budget of less than $20,000”

Green Oaks was purchased by a private investor.

Attorneys for the parties included Lawrence Ordower of Ordower & Ordower, Michael Kurtzon of Schwartz, Cooper, Greenberger & Krauss and Mark L. Karno of Mark L. Karno & Associates (all Chicago based law firms). Mr. Kaufman was the sole broker in this transaction as well.

If you would like additional information on the property, call David Kaufman at 847/275-2489 or kaufmand@dkrealty.com. 

DK REALTY PARTNERS CLOSES SALE OF LAKE GENEVA, WI

COMMERCIAL RETAIL/RESIDENTIAL PROPERTY –

LOCATION IN HEART OF GROWTH MARKET 

 Lake Geneva market continues to attract business and real estate investors, 

building on a very attractive location for retail, residential and investment real estate.

DK Realty Partners, LLC announces the negotiated sale of N 3310 County Road H, Lake Geneva, WI.  The single-story building, formerly the site of a family-run 20 year-old business (Go-Fer-It), sold for $289,000.  The location will continue to be a site for a retail business, serving as a second location for Dick’s Small Engine Repair. (The other location is in nearby Fontana, WI).  The property also has attached living quarters, which includes three bedrooms, three baths, sauna, large living room and fireplace.

The 6,350 square foot facility is located approximately two miles north of growing, downtown Lake Geneva, WI.  The commercial portion of the building consists of a showroom with loading dock, parts inventory room and a work and service shop.  “We are seeing a strong “demand” trend for the Lake Geneva market,” said Brian Brossard, Sales Associate, DK Realty Partners.  “However with this trend, the community is doing a great job of keeping a perfect balance of commercial/retail growth, with the steady increase of residential expansion.” 

“DK Realty Partners really understood our needs as a seller, but it was their track record in the WI market that made us feel comfortable in enlisting them to market and sell our property,” said Sue Kendzior, seller/owner of Go-Fer-It.  “More importantly, our contact Brian (Brossard) made the sale process seamless for us.  He handled everything from advertising, sales activities, negotiation and, of course, close-of-sale.  The end result was a positive experience for us both in ease of process and and in receiving the optimum value for our property.”  

Please contact Brian Brossard at 847/397-8900 x224 or brian@dkrealty.com for details of the sale.

DK REALTY PARTNERS INKS 5-YEAR LEASE WITH WOLOWICKI & ASSOCIATES IN

LAKEWOODS CORPORATE CENTER – SCHAUMBURG, IL

 Wolwicki & Associates Bucks Real Estate Vacancy Trend By

 Upgrading to Desirable Schaumburg Area.

DK Realty Partners, LLC announced today the negotiated 5-year lease for 25-year-old accounting firm, Wolwicki & Associates, LLC at 650 E. Algonquin Road, Suite 200, Schaumburg, IL – Lakewoods Corporate Center.  Wolwicki & Associates moved from Downers Grove, Illinois to the new location, driven by market needs and the ability to build-out the new space to meet their unique business requirements.   The deal was inked by DK Realty Partners who represented landlord, Halyard Lakewoods, L.P.

 “We were looking for a building that would be flexible in giving us a business environment that could upgrade our presence to the market, while also meeting the geographic criteria we had in mind,” said Jerry Wolowiki, Partner, Wolwicki & Associates.  “This building is really a perfect fit for us.  We are close to our clients so they can visit us and the client’s who are not so close, we are right near the highways.  And as for our employees, we are minutes from Woodfield Mall and great restaurants.”

“We’re starting to turn the corner again in real estate, given the high vacancies in the Northwest suburbs” said David Kaufman, Managing Member of DK Realty. “The tenants we are working with have waited long enough to move into facilities that match their business needs, but they also want their business location to have the right appearance to their customers, employees and partner organizations.”

If you would like additional information on the property, call David Kaufman at 847/275-2489 or kaufmand@dkrealty.com. 

If you would like additional information on the property, call Tyler Neptune at (630) 406-6980 or e-mail tyler@dkrealty.com

DK REALTY PARTNERS, LLC CLOSES $3 MILLION SALE

ON ARLINGTON HEIGHTS BUILDING

Private Investment Group Buys 

NNN Property Research and Development Facility at Attractive CAP Rate

DK Realty Partners, LLC announced today the sale of the AMCOL International Corporation Technological Center located at 1350 Shure Drive in Arlington Heights, IL.  This single-tenant, 32,832 square foot office/laboratory facility was originally designed to service a multi-tenant base, and accordingly has four separate entrances allowing the new ownership to divide the building into four separate units.  The purchase price was $3,050,000.

 “My investment group was looking for a triple-net property that provided excellent cash flow,” said Tyler Neptune.  “I knew the seller was motivated to remove this property from his portfolio, but the question was, ‘at what price?’  I was elated when we were able to negotiate a purchase price that represented a 10.9% CAP rate; there wasn’t anything else on the market that even came close!  I now have a very happy client, not to mention a satisfied seller.”

If you would like additional information on the property, call Tyler Neptune at (630) 406-6980 or e-mail tyler@dkrealty.com 

DK REALTY PARTNERS INKS SALE OF RETAIL/COMMERCIAL BUILDING IN PELL LAKE, WI

 First State Bank, Round Lake Beach, IL taps DK Realty

to make transaction happen in Wisconsin market based on solid track record

DK Realty Partners, LLC announced today the negotiated $225,000 sale of 1161 Clover Road, Pell Lake, WI.  This property was purchased by an individual investor.   The location, known as a bar and dance facility will operate under the name Nancy's Place.

This property was the second property that DK Realty Partners has successfully liquidated for the State Bank of Round Lake Beach who acquired this property through foreclose. Paul G. Demik, Principal of DK Realty Partners explains, “The banking community is very important to us.  We have a collaborative working environment with these organizations to optimize the performance of their real estate portfolios.”

The 5787 square foot building is located in a challenging real estate market that has growth potential.  “Certain properties are purchased with an eye to the future,” said Brian Brossard, DK Realty Partners. “Pell Lake is a market that is poised for positive change. Continued development and economic opportunities have to come to this area near Genoa City and Lake Geneva, making real estate in the area more and more attractive.”

Please contact Brian Brossard at 847/397-8900 x224 or brian@dkrealty.com for details of the sale.

DK REALTY PARTNERS CLOSES SALE OF 

LEYDEN CREDIT UNION BUILDING IN FRANKLIN PARK, ILLINOIS 

Sale of Building Goes to Private Individuals and New Primary Tenant is

 High-Tech, Electronics Company 

DK Realty Partners, LLC announced today the negotiated $325,000 sale of 9617 E. Grand Avenue, Franklin Park, IL, the former Leyden Credit Union Building.  Leyden moved to a new, custom-built office building at 2701 N. 25th Avenue, Franklin Park, IL.

The 5218 square foot office and retail building has been sold to private individuals and the new tenants will be a high-tech, electronics company.  “This sale represents the strong position that this area has held as a good location for commercial business and manufacturing operations,” said Paul Demik, principal for DK Realty Partners. “This property is also in line with what we are seeing -- the increased demand for 5,000-15,000 square foot facilities.”

for a PDF of the offering brochure.

If you would like additional information on the property, contact Paul Demik at 847/397-8900 x217 or pdemik@dkrealty.com or call Tyler Neptune at (630) 406-6980 or e-mail tyler@dkrealty.com

CHICAGOLAND-BASED DK REALTY PARTNERS, LLC  

CLOSES PROPERTY IN METRO NORTH BUSINESS PARK IN IOWA 

FOR $5.5 MILLION

 Fastest growing Ankeny, a northern suburb of Des Moines Iowa

boasts its leading-edge office/warehouse facility with 100% occupancy.

David M. Kaufman, CCIM principal of DK Realty Partners, LLC, announced today the negotiated sale of office/warehouse facility on 5.6 acres of land in the Metro North Business Park.

The property is 100% leased to Clarke American Checks, Inc., one of the largest specialty printers of checks and forms for financial institutions in the United States.  Clarke American Checks Inc., is a wholly owned subsidiary of Security Printing Inc., a holding Company established within the Security Printing Services division of Novar plc of Waybridge, Surrey, England.  Novar is traded on the London Stock Exchange (NVR).

The Property is located in one of the most successful business parks in the Des Moines metropolitan area experiencing extensive commercial, office, warehouse and light manufacturing growth.  The Property benefits from high visibility with Interstate 35 connecting to both Des Moines to the south and the Polk Country Regional Airport.

“We are very proud to be a part of the exciting new opportunities the Metro North Business Park has to offer,” said David Kaufman of DK Realty Partners.  “Clarke American Checks, Inc. is in good company with surrounding firms such as Monsanto, Standard Bearing, Tone’s Spices Sara Lee and Proxair to name a few.”

If you would like additional information on the property, call David Kaufman at 847/275-2489 or kaufmand@dkrealty.com. 

DEMAND FOR INVESTMENT PROPERTY HOLDS TRUE FOR 

PARK LAWN PLAZA IN OAK LAWN, ILLINOIS

After a large showing of interested buyers, 

four parties battle for high-demand property.

Paul Demik of DK Realty Partners, LLC announced today the negotiated sale of Park Lawn Plaza located at 9600-9652 S. Pulaski in Oak Lawn, IL.

The 24,685 square foot Retail Center is 100% occupied with (12) twelve units ranging in size from 800 square feet to 4,315 square feet.  “What made Park Lawn Plaza a high-demand investment property is its location, 100% occupancy and its well maintained with an attractive façade and landscaping,” said Paul Demik, principal for DK Realty Partners. 

The (16) sixteen year old neighborhood shopping center has a newer parking lot  (1998 - 104 spaces) and a new granular surfaced APP modified asphalt membrane roof over metal duck.  “The Property in Oak Lawn was an excellent investment for the sharp investor,” said Demik.  “The Property was purchased for $3.3 million dollars, a total winning situation for all involved.”

If you would like additional information on the property, contact Paul Demik at 847/397-8900 x217 or pdemik@dkrealty.com

100% OCCUPANCY MAINTAINS STRENGTH AT

 140 SHEPARD AVENUE IN WHEELING, IL 

DK Realty Partners, LLC Closes Property for $1.2 Million.

Paul Demik  of DK Realty Partners, LLC announced today the negotiated sale of 140 Shepard Ave. in Wheeling, IL.

The Building at 140 Shepard Ave., located in an industrial park in Wheeling is a single-story, 30,000 square-foot, multi-tenant industrial property.  The Property is 100% leased office and warehouse space divided into ten units.

“There’s something to be said for a stable investment,” said Paul Demik, principal of DK Realty Partners, LLC.  “The Wheeling Property is 100% occupied, strong location and a 9 ½% Cap Rate.  A perfect investment.”

The Property sold for $1,200,000.00.

The closing took place at Chicago Title & Trust Company located in Mt. Prospect, IL with Gerald A. Prendergast, of Prendergast & DelPrincipe located in Evergreen Park representing the buyer and Wade B. Light of Wade B. Light & Associates located in North Barrington, IL representing the seller.

If you would like additional information on the property, contact Paul Demik at 847/397-8900 x217 or pdemik@dkrealty.com

‘HOT’ RE-DEVELOPMENT IN DES PLAINES BRINGS IN

NEW OWNERSHIP AT 1583-1585 ELLINWOOD

DK Realty Partners, LLC closed highly desirable property located one block east of the Metra train station.

Paul Demik of DK Realty Partners, LLC announced today the negotiated sale of 1583-1585 Ellinwood in Des Plaines, IL.

The property is a two-story, multi-tenanted retail/office building with a full, finished lower level.  The 15,000 square feet building and its tenants are highly visible to the passing commuter trains and its populous residential community.  The building contains three floors of tenant suites, 29 in total, ranging in size from 90 square feet to 1,517 square feet.

“I was very excited to be a part of the Ellinwood transaction,” said Paul Demik, Principal of DK Realty Partners, LLC.  “The property is highly visible, 97% occupied and is well balanced with retail on the first floor and mostly services businesses on the second floor.  The upside potential is obvious.”

The seller of the property was a partnership located in Des Plaines, IL and was represented by Robert Singer of Mt. Prospect, IL.

The purchasers of the property is Metropolitan Development Enterprises located in Skokie, IL.  They are represented by Steven D. Friedland of Schiff, Hardin & Waite of Chicago, IL.

The closing took place at the Chicago Title & Trust Company in Mt. Prospect, IL. 

The property was purchased for $895,000.00.  

If you would like additional information on the property, contact Paul Demik at 847/397-8900 x217 or pdemik@dkrealty.com

DK REALTY PARTNERS, LLC CLOSES SERTA, INC. HEADQUARTERS 

FOR OVER $5 MILLION 

Experienced investors find attractive offering 

with the home of the #2 worldwide mattress manufacturer.

Paul Demik, principal for DK Realty Partners, LLC announced today the negotiated sale of the Serta, Inc. headquarters located in Spring Lake Business Park in Itasca, IL.  The single-tenant, office/research facility totals 38,825 square feet on 3.35 acres of land.

“I had the opportunity to work with a group of private investors who, for years, had invested mainly in multi-family properties,” said Tyler Neptune, for DK Realty Partners.  The investors had just sold an apartment complex and needed a quality investment to serve as replacement property in a 1031 exchange. They had researched the marketplace without result.” 

The private investors then contacted DK Realty Partners.  They had never utilized their services before, but knew of DK Realty Partner’s professional, results-based reputation.  Because the multi-family market was not matching the criteria of the private investors, DK Realty developed a solution that met and surpassed the investor’s expectations.

DK Realty Partners knew that the building that Serta, Inc. leased for its headquarters was available for purchase and that Serta had a long-term lease in place.

“This was a genuine opportunity,” Tyler Neptune continues.  “The exchange was structured utilizing a triple-net leased property, which we were able to negotiate purchasing at a 9% Cap.  This was an attractive property that continues to be well maintained by the tenant, Serta, Inc., and produces excellent cash flow for the investors.” 

The purchase price was $5,037,500.00

The original single-tenant, brick/block building was constructed in 1995 consisting of 29,325 square feet of office space and 9,500 square feet of warehouse/research area.

If you would like additional information on this transaction or other 1031 exchange transactions by DK Realty Partners, LLC, call Tyler Neptune at (630) 406-6980 or e-mail tyler@dkrealty.com

DK REALTY PARTNERS, LLC PROVES STRENGTH IN COMMERCIAL REAL ESTATE

WITH 3 CLOSES TOTALING $3.86 MILLION

 Properties in Schaumburg, Elgin and Oak Lawn

Paul Demik of DK Realty Partners, LLC announced today the negotiated sale of 501 Morse Avenue, Schaumburg; 943-955 N. McLean Blvd, Elgin; and 9740 Southwest Highway, Oak Lawn.

The Building at 501 Morse Avenue in Schaumburg is a single-story, 21,000 square-foot, multi-tenant industrial property located on a 42,000 square-foot lot.  The Property is 100% leased office and warehouse space divided into eight units.

“This was a prime opportunity for an investor with a positive upside, based on average rentals of $6.57 per square foot,” said Paul Demik, principal of DK Realty Partners, LLC.

The partnership and the purchaser acquired the Property to consummate a 1031 tax-free exchange.  The Property sold for $815,000.00.

The Building at 943-955 N. McLean Blvd. in Elgin is a modern, 10-year-old, single-story, multi-tenant, 23,872 square-foot retail center with 10 units ranging in size from 1,050 to 12,000 square feet.

“This is a strong Property with 89% occupancy and a solid base of tenants such as Walgreens, Bo Rics, Check ‘n Go Illinois, Jackson Hewitt Tax Services and Alpha Communications,” said Demik.

The seller is the original developer/general partner.  The buyer is R & P Limited Partnership.  The Property sold for $2,700,000.00.

The Property located at 9740 Southwest Highway in Oak Lawn is a free-standing, one-story, brick building on a 100’ x 115’ lot.

“A local investor purchased the property because of the location and the visibility it will receive from the high traffic area of Southwest Highway,” concluded Demik.

The Property is located on the north side of Southwest Highway, one mile southwest of 95^th Street (US Rt. 20) and three miles east of Harlem Avenue. and the 95^th Street interchange with Interstate 294.  The Property is also five blocks east of Chicago Ridge Mall.

The Building was originally leased to Safelite Glass Company (formerly Globe Glass) who consolidated and bought out the lease.  It is currently improved as an auto service building divided into two sections:  One section is a 1,600 square foot showroom/customer waiting area, and the second section is a large open service area with four double overhead doors.

If you would like additional information on these properties, contact Paul Demik at 847/397-8900 x217 or pdemik@dkrealty.com

DK REALTY PARTNERS, LLC CLOSES PISTAKEE MARINA 

FOR $1.1 MILLION

 Key investment update supplies boats with easy fueling access.

Paul Demik, principal of DK Realty Partners, LLC announced today the negotiated sale of Pistakee Marina located at 410 Kings Road in Fox Lake, IL.

 The Marina is located on five (5) acres on Pistakee Lake in Fox Lake, IL, a major part of the Chain O’ Lakes system.  The lakes cover approximately 64,000 acres of water and over 100 miles of shoreline.  The property includes 45 piers that accommodate 90 boat slips.  All of the boat slips include electricity and fresh running water. 

A key investment was made to the property including three fuel storage tanks that supply a fueling platform located on the water for easy boating access.

“First State Bank of Round Lake, the former owner of the property; Patrick Short, the new owner; and I all knew that, with a minimal investment into the Marina, it would prove to be a strong, valuable piece of property,” said Brian Brossard, Sales Associate with DK Realty Partners, LLC.  “And it is. $1.1 million dollars worth.”

The Marina consists of three (3) buildings totaling 20,263 square feet.  The Office and Sales building is 4,038 square feet, Service and Storage building is 15,489 and the Garage and Storage building is 736 square feet.  These buildings support an off-season storage business making the Marina a year-round source of revenue.

The seller of the Marina was First State Bank of Round Lake and was handled by Richard D. Fowles, its president.  

If you would like additional information on the property, contact Brian Brossard at 847/397-8900 x224 or brian@dkrealty.com 

DK REALTY PARTNERS, LLC CLOSES 

ROCKFORD CROSSING SHOPPING CENTER FOR $10.5M

New Shopping Center has strong retail tenants and solid cash flow.

David M. Kaufman, CCIM principal of DK Realty Partners, LLC, announced today the negotiated sale of Rockford Crossing Shopping Center, a 90,000 square foot property.

“The seller, DESCO, located in St. Louis, MO, built the property in a highly desirable location and did a thorough job in development and leasing,” said Mr. Kaufman of DK Realty.  “Halyard State, LLC of Northbrook, IL is the purchaser of the property with stable, high traffic retailers including Best Buy and Linens n’ Things.”

Both Best Buy and Linens n’ Things currently have 15 year leases and the next largest tenant, Hallmark, with a five years.  The Shopping Center sold for $10,500,000.00.

Financing of $8,480,000 was arranged by Stephen A. Weiss of Fortune Financial Corp., a Northbrook, IL mortgage brokerage firm.  The lender was First Bank of Highland Park.

David M. Kaufman, CCIM of DK Realty Partners, LLC was the broker for the purchaser.  Marty Becker of Becker & Gurian, located in Highland Park, IL represented the purchaser.

If you would like additional information on the property, call David Kaufman at 847/275-2489 or kaufmand@dkrealty.com.

CLEARBROOK MOVES TO WOODFIELD BUSINESS DISTRICT

David M. Kaufman, principal, DK Realty Partners, has announced that the firm's sales associate Robert Rosenthal represented the buyer in the purchase of a 25,600 square foot office/industrial building at 1425 Payne Ave., Schaumburg, Illinois, for $1,375,000. Located several blocks west of Woodfield Mall in the Woodfield business district, the 2.5 acre site was purchased by Clearbrook, a private not-for-profit agency creating support for children and adults with developmental disabilities.

According to Rosenthal, a DK Realty specialist in commercial real estate brokerage, "This desirable, well-located property offers a great opportunity for Clearbrook to operate its largest day program. The participants in the program can do light assembly work as well as receive occupational, physical, speech, and language therapy. It's a great feeling to have found a new home for such a worthy group."

DK Realty Partners specializes in negotiated, and sealed-bid and live-cry auction sales of commercial/industrial and residential properties nationally. The firm's professional team successfully sold more than 8,000 properties, grossing more than $1.7 billion in the past 20 years. The team also manages office buildings in the Chicago metropolitan area.

If you would like additional information on the property, call David Kaufman at 847/275-2489 or kaufmand@dkrealty.com.

NORTHEASTERN ILLINOIS UNIVERSITY SELLS HOME 

OF FORMER UNIVERSITY PRESIDENT

David M. Kaufman, CCIM has closed on the sale of a single-family home in Northfield, Illinois.  The property, owned by Northeastern Illinois University as housing once for it's former president's family,  is 1.5-story, 3,498 sq.ft. home with four bedrooms and three baths on a secluded 1-acre corner lot at 455 Whittier Lane (a private lane) in Northfield.  

As a state-owned institution, the university was required by law to offer the property for sale via a public auction.   DK Realty Partners was selected from a group of more than 100 contractors who were solicited for the job.   

To that end, the property was marketed for two months culminating in an auction on June 26, 1999.  Bidding stalled at $450,000 at which point the University rejected the bid, based on its minimum requirements as defined by three pre-sale appraisals.   In the months that followed, the University had the property re-appraised and re-offered the property for sale.  Again, DK Realty Partners marketed the property for two months, and on December 15, 1999 sold the property for $500,000 to a bidder who had also attended and bid at the auction in June.  "I should have bid more at the first auction and gotten it over with then," said the buyer after auctioneer, David Kaufman, declared the property "SOLD."

If you would like additional information on the property, call David Kaufman at 847/275-2489 or kaufmand@dkrealty.com.

KENDALL COLLEGE BUYS EVANSTON HOME AT AUCTION

David M. Kaufman, CCIM has closed on the sale of the single-family residence at 2344 Orrington Avenue, Evanston, Illinois.   The property, a 3,035 sq.ft., 2.5-story English-style home, is located on a 1-acre site adjacent to Kendall College on the northern border of the property.   

The college, which also owns the single-family home which borders the property on the south, was one of five bidders who submitted sealed bids on Wednesday, November 10, 1999.  Those bids were reviewed by the seller, a national bank acting as trustee for the property's estate.    The bidders where then invited to participate in a live-cry auction.    Bidding narrowed to two bidders, one which was Kendall College whose final winning bid was $612,000.

The home, built in 1905, was continuously occupied by the Jahn family until Mr. Oliver Jahn's death in 1998.   The bank, acting as trustee for the estate, has had success with sealed bid/auctions conducted by David Kaufman in the past and was pleased with the results obtained for this property, as well.  

If you would like additional information on the property, call David Kaufman at 847/275-2489 or kaufmand@dkrealty.com.

HISTORIC SKOKIE PROPERTY SOLD AT AUCTION 

TO PARK DISTRICT

David M. Kaufman, CCIM has closed on the sale of the property at 5319-5333 W. Oakton, Skokie, Illinois.  The property, a 1.37-acre parcel, is the former Henry Harms historic homestead. Harms was the founder of Niles Center, the village which later changed its name to Skokie.  The farmhouse on the site was his final home in the community.    

That structure, which was a rental home at the time of the sale, stands next to a much newer home built by the property's last owner, Robert "Bud" Springer.  Springer died in 1998 and his trust ordered the auction sale of the property.  Hundreds of prospects, including some representatives from the Skokie Park District, inspected the property during the four scheduled open houses prior to the auction.  

Besides the Park District, bidders at the auction included area developers hoping to scoop up this rare walk-to-town location with designs on a planned-unit development, as allowed by Skokie's R-2 zoning at the site.  It was that possibility that prompted the interest of the Park District.  In an April 15, 1999 Pioneer Press article, staff writer Kathy Routliffe reported that "Kristin O'Regan, supervisor of the Skokie Historical Museum run by the Park District, said her concern and that of the Historical Society members is that a buyer may demolish the Harms House to make way for development such as condominiums."

To that ends, the Park District was the high bidder at the auction held April 15, 1999 and closed on the property June 4, 1999 for $1,096,500. 

If you would like additional information on the property, call David Kaufman at 847/275-2489 or kaufmand@dkrealty.com.

PROPERTIES AT ADAMS & JEFFERSON ARE SOLD

David M. Kaufman, CCIM has closed on the sale of three properties in Chicago’s central business district. 206 S. Jefferson Street consisted of a two story plus basement renovated 4,000 square foot sprinklered office building (1,500 square feet) with 8 foot clear ceilings. . 609 W. Adams Street is a one story 3,000 square foot renovated brick office building that was sold together with 611 W. Adams Street a three story renovated 15,000 square foot loft sprinklered brick office building plus full 6 foot clear basement.

Located within 2 blocks of the Kennedy Expressway (I-90 & I-94), Union and Chicago & Northwestern train stations in Chicago's Central Business District, the sales price for these three properties was $1,460,000.

If you would like additional information on the property, call David Kaufman at 847/275-2489 or kaufmand@dkrealty.com.