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Department Store Redesign; The Deal Sheet

Chicago

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Department  Store Redesign; The Deal Sheet
The US GSA and 4240 Architecture are renovating the former Bond Department Store at State and Jackson. 4240 has designed a historically sensitive and high-performance facade along the main elevation at State and Jackson.
 
Department  Store Redesign; The Deal Sheet
4240 design director Robert Benson is designing the building to let a lot of light in. The top three floors, which will include new glazing along the North and West façades, will house the Dept. of Labor. Other major modifications include new lobby and loading facilities.The Architecture of Recovery – Chicago State Street South project is designed to conserve resources and meet the high-performance goals of the American Recovery and Reinvestment Act, LEED, and the GSA. Completion is slated for early 2012.
Executive Moves

Jack Reardon has joined  NAI Hiffman as an SVP with their office services group. Jack's focus will be on Chicago's North, Northwest, and O'Hare submarkets. He was formerly with CB Richard Ellis, and most recently, Cushman & Wakefield. Earlier this year he brokered leases for Career Education Corp., FDIC, and StoneWater Capital totaling 570k SF. Jack graduated from Miami University, Ohio.

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Grady Hamilton  has joined Trammell Crow Co. as principal. He will be responsible for industrial and office development and acquisitions throughout the Chicago suburban market, expanding Trammell Crow's land control throughout the Chicago suburbs and new business development in Minneapolis. Grady previously worked Opus North where he was responsible for managing the firm's office development and leasing strategies in the Chicago market. He graduated from Miami University.

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Jones Lang LaSalle has promoted nine Chicago-based executives in its brokerage, corporate solutions, and business & economic incentives practices:

  • Joe Brady to managing director, co-lead in corporate retail solutions 
  • Leslie Gall to managing director in marketing,  corporate solutions 
  • Ted Glimp to managing director in corporate solutions 
  • Michael Lee  to managing director in corporate solutions 
  • Meredith O'Connor to managing director in business and economic incentives, brokerage 
  • Ann Marie Woessner-Collins to managing director in business and economic incentives, brokerage 
  • Bill Barrett to EVP in corporate solutions, BioPharma 
  • Gerald Donovan to EVP in corporate solutions 
  • Timothy Spillane to EVP in corporate solutions

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Samuel Hergott has joined Newcastle  as retail portfolio manager. His responsibilities include strategic planning, leasing and property operations. Samuel brings six years of experience and previously was responsible for  leasing and management of the firm's retail properties.

Leasing News

Leica Microsystems signed a lease for 64k SF at the  Aptakisic Creek Corporate Park, 1700 Leider Lane in Buffalo Grove. CB Richard Ellis' Keith Puritz and Hank Cox represented Leica Microsystems, while Bridge Development's Tony Pricco and CBRE's Brett Kroner, Ryan Bain and Zach Graham repped ownership McMorgan & Co.


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Boston-based Winthrop Realty Trust has awarded the exclusive leasing of 550, 650 and 701 Warrenville Rd. in Lisle  to NAI Hiffman. The leasing team includes  James Adler, Patrick Kiefer, Daniel O'Neill, and Garrett Schultz. Winthrop Management will continue to manage the properties on behalf of ownership.

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Wonderlic has completed a long-term office lease for 26k SF at 400 Lakeview Pkwy. in Vernon Hills. The building part of Continental Executive Park is owned by PacTrust  and was formerly was the Baxter Credit Union building. Poldolsky Northstar CORFAC International's Corey Chase repped the tenant. NAI Hiffman's Michael Flynn  and Jason Wurtz repped building ownership.

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Midwest Business Development has leased 13k SF of industrial space located at 1020 Davey Rd. in Woodridge. Lee & Associates'Jeff Galante  and Brian Vanosky represented building ownership, Bridge Development Partners, and Countrywide Real Estate's Thomas Chen represented the tenant.

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Schulz Properties' Theresa Schulz represented building ownership for the renewal of an 8k SF lease for Black & Veatch and new lease with Strategic Financial Group for 1k SF at 7600 County Line Rd. in Burr Ridge. Theresa also represented CenterPointe Church for 6k SF, and Capri Ristorante for 5k SF at 16108 Route 59 in Plainfield.

Sales News

The Boulder Group has completed the sale of a single-tenant net- leased CVS ground lease located at 6355 West Belmont Ave. for $3.6M. The Boulder Group's Randy Blankstein and Jimmy Goodman represented the seller, a private Chicago developer. A New York-based institutional real estate company was the purchaser.

Award

Magellan Realty has been selected for the 2010 Best of Chicago Award  in the condo category by the US Local Business Association. The Magellan Realty team, led by multiple sales award winner president Leila Zammatta, has captured several residential gold sales awards for both unit and dollar volume from the  Chicago Association of Realtors.