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Blizzaster Deal Sheet

Blizzaster Deal Sheet
Forget bricks and mortar or glass curtain wall, we're building our real estate out of snow. Here's a pic Chicago reporter Maureen Wilkeytook on North Broadway Avenue yesterday afternoon.
With 21 inches of snow falling, making this the third biggest blizzard in Chicago history, not many of you were available for stories, so here's the wrap-up of some deals we've been meaning to tell you about for the last 10 days.
Blizzaster Deal Sheet
For starters, the University of Chicago and HSA Commercial are bringing Five Guys Burgers and Fries to the Hyde Park neighborhood. HSA's Michael Havdala and Kelsey Blindt repped the landlord in the lease at 1454 E. 53rd St. The University is hoping to redevelop the building into retail and still has 6,000 SF of leasable space on the second floor and 3,000 SF available on the first floor. Mid America's Brian Adams repped Five Guys. The university is redeveloping the building for retail and some office space.
Sales News

Suntex Ventures, a Dallas-based owner and operator of marina properties, in conjunction with Harrison Street Real Estate Capital, the Chicago-based real estate private equity firm, acquired Liberty Landing Marina in Jersey City, NJ. Liberty Landing is a landmark marina with 520-wet slips offering year-round dockage and dry storage for boats up to 200 feet in length. The marina is home toStatue Cruises, which gives tours around the Statue of Liberty, as well as two restaurants.


Millenium Properties' Daniel Hyman and Susan Silver sold the 100k SF Chase Bank and adjacent vacant parcel at 975 E. Belvidere in Grayslake for $3.1M. They repped the seller, Grayslake Acquisitionfrom Land Holdings Realty Services out of Pittsburgh, PA. Sitko Rodella & Bruno's Kirk Rys served as counsel.


The Boulder Group's Randy Blankstein and Jimmy Goodman completed the sale of a single tenant net-leased Walgreens property located in St. Paul, MN for $5.9M. The 14k SF building sits on a 1.18 acre parcel and is 100% leased. Randy and Jimmy repped the 1031 exchange buyer, a private family trust based in CA. The seller was a preferred Midwest Walgreens developer.


Sperry Van Ness's Ben Andrews repped Lou Malnati’s Pizzeria in its acquisition of a 11k- SF building located at 1120 North State Street. The plans for this pizzeria include seating for 300, a full bar, and a large party room. This will be one of the company’s largest restaurants and offers the pizzeria’s only large party room in the city.


Millenium Properties' Daniel HymanSusan Silver, and Greg Blocksold the 17k SF property at 900 Ridge at auction. K. Kenneth Engbought the building from American Chartered Bank. Millennium repped both parties. Brotschul Potts' Matthew Brotschul served as counsel for the seller. The building is 34% occupied.


Marcus & Millichap's Ryan Engle repped the seller of a 60-unit apartment property in Lyons for the $3.5M sale. The buyer was a private individual who was secured and represented by Marcus & Millichaps James Clough. Riverside Trail Apartments is located at7860 West Ogden Avenue. The building was on the market for just 90 days.

Executive Moves

Jim McDonald has been promoted to VP of Development at Ryan Cos US from Director of Development. As VP, he will focus on office and MOB development. He has been with Ryan since 1999 and has worked with the company in a variety of capacities ranging from project manager to director of development. He has a bachelor's degree from University of Nebraska at Lincoln.


Rene Circ has joined Grubb & Ellis Co. as VP, national director of research, Industrial. Based in Chicago, he will responsible for leading the market research efforts for the company’s national Industrial Group as well as its industrial-focused practice groups. Rene joins from First Industrial where he spent 11 years, the last five as research director. Prior to First Industrial, he was a senior research analyst at Insignia/ESG. He also guest lectures at the University of Illinois at Chicago on topics such as market research and investment underwriting and structuring.

Leasing News

CB Richard Ellis signed several new tenants at Woodfield Corners Office Center, 1300 E. Woodfield Road in Schaumburg, bringing occupancy to 85%. The new leases include:

  • Lennar Homes for 6k SF. Studley's Terry Mostrom andJohn Azulay repped Lennar.
  • Royal United for 4k SF repped by Tenant Advisors' Dave Ven Horst.
  • The law firm of McCarty Winkler for 2k SF repped by CBRE'sDan Bessey.

CBRE's Mark Smith and Mike Graham represented ownership,Crossroads Development Partners.


Colliers International's David Bercu represented Channel Distribution Corp. in a 68k SF new lease at 860 Thomas Drive in Bensenville. The owner of the facility is AMB Property Corp. Channel recently acquired the assets of Jaltrans Inc., a subsidiary of Japan Airlines. This acquisition has resulted in the need to expand from the company’s current location.


CBRE's Keith PuritzBrett KronerRyan Bain, and Zach Grahamrepresented the California State Teacher’s Retirement System in signing Brightstar US. to a 105k SF expansion and 137k SF renewal at 2000 USG Drive in Libertyville. Brightstar now occupies the entire 242k SF industrial warehouse building. Colliers International's Lynn Reich and Kelly Joyce repped the tenant.

Construction News

Krusinski Construction Co. completed the Pronger Smith MedicalCare expansion in Tinley Park, a 38k SF medical office building addition including MRI, CT, physical therapy and treatment rooms, pediatric exam rooms, sleep lab, and an OB suite. The next phase of the project scheduled for completion in February includes a complete renovation of the existing reception/registration waiting area and construction of new Pathology Lab. Project partners includeIrgens Health Care Facilities Group and Brubaker Architects.

Finance News

Cambridge Realty Capital Cos closed on a $2.16M FHA-insuredHUD LEAN loan that refinanced the Hillsboro Rehabilitation and Health Care Center, a 107-bed skilled nursing facility in Hillsboro. Cambridge's Jeffrey Davis said the fully amortized, 26-year term loan was underwritten by Cambridge Realty Capital Ltd. of Illinois for the owner, a Missouri limited liability company. The interest rate was not disclosed.

Marcus & Millichap's Ryan Engle repped the seller of a 60-unit apartment property in Lyons for the $3.5M sale. The buyer was a private individual who was secured and represented by Marcus & Millichaps James Clough. Riverside Trail Apartments is located at 7860 West Ogden Avenue. The building was on the market for just90 days.