CMC Heartland To Sell Properties

CMC Heartland Partners agreed to sell all of its major Chicago-area properties and its Autumn Grove project in Fife, WA. The aggregate value of the sales will be between $42 million and $44 million, depending on various contingencies. The Chicago properties include 75,000 square feet of industrial land, the company's interest in the Goose Island Industrial Park, and the remaining land for its Kinzie Station master-planned community. This includes both residential sites and a commercial property zoned for a grocery store. Autumn Grove is a property zoned for an 864-home master plan community in Fife. The company's interest in the Goose Island Industrial park includes 1030 West Division St., a 150,000-square-foot industrial facility in North Chicago. The sale agreements call for closings over the next nine months. However, the agreements contain various contingencies typical of such transactions including due diligence, financing, and government approvals. CMC Heartland Partners is a Chicago-based real estate partnership with properties in 14 states, primarily in the upper Midwest and northern United States. CMC Heartland is a subsidiary of Heartland Partners L.P.