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FFC at Presidential Towers; The Deal Sheet

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FFC at Presidential Towers; The Deal Sheet
Fitness Formula Clubs has selected McShane Construction for the 52k SF build-out of FFC West Loop. The fitness center will be on the ground level and third floor of Presidential Towers at 10 S Clinton St. This is the sixth FFC that McShane will build in the Chicago area.
 
FFC West Loop
FFC West Loop will feature a street-level, three-story, glass-enclosedatrium entry located just off the intersection of Clinton and Madison streets. Also: general cardio and strength training areas, Pilates andyoga studios, group fitness studios, high-end locker rooms, day spa, and airbrush tanning areas. The facility will also feature an indoor 75-foot junior Olympic, six-lane lap pool and an outdoor recreation pool accompanied by a lounge/sundeck, bar area, and fire pit. (Why wait until you get home to put the calories back on?)Antunovich Associates is providing the architectural services. Completion is slated for summer 2011.
Leasing News

Schwarz Supply Source has leased 373k SF of industrial at 21399 Torrence Ave in Sauk Village. Lee & Associates Jeff Janda and Jim Planey repped building owner Mirvac. Podolsky Northstar Realty Partners' Steve Tick repped the tenant.

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Premier Transportation has leased 164k SF at Highland Corporate Center Building #2 in Bolingbrook. The building was the second of three industrial buildings developed by ML Realty Partners at Highland Corporate Center. Cushman & Wakefield's Jason West andSean Henrick were the sole brokers.

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Lee & Associates' Justin Fierz repped Rehrig Penn Logistics in a90k SF lease extension and expansion at 1604 Rusch St in Tomah, Wis. CB Richard Ellis' Chase Brieman repped owner KAS Leasing Co.

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Dollar Tree signed a lease for 11k SF at West Aurora Plaza in West Aurora. Mid America Asset Management's Richard Spinnell is the exclusive leasing agent for the property. The dollar store takes occupancy in June, replacing the former Aronson Furniture.

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Lee & Associates Ellen Steinbrecher and CJ Kuehl repped St. John-Mittelhauser in its renewal of 6,431 SF of office at 1401 Branding Lane in Downers Grove. Management Marketing Services'Paulette Edwards represented building ownership.

Construction News 

JC Anderson has completed a 35k SF build-out for the Career Education Corp at 915 National Pkwy in the Parkway Corporate Place of Schaumburg. CBRE manages the property. CEC is relocating to Schaumburg from Hoffman Estates. The suite features new ceilings, flooring, offices, training rooms, and break rooms. JC Anderson's Daniel Tannhauser is the project manager. IA Interior Architects provided the architectural services.

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Reed Construction is working on a 50k SF interior build-out forStifel Nicolaus at Three First National Plaza located on the 24th and 25th floors of 70 W Madison in Chicago. The renovation will feature a new reception area with marble flooring, the construction ofnew executive offices, and a new video conferencing system. Reed's Bryan Kreuger is the project executive and Cullen McGuireis the project manager. Whitney Architects is providing the architectural services.

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ARCO/Murray Construction Co has completed a 16k SF tenant build-out for GN Otometrics at 50 Commerce Dr in Schaumburg. GN Otometrics is relocating from its existing facility. The build-out includes a research and development lab, high-value goods storage,shipping/receiving warehouse, and high-end product showcase viewing rooms. ARCO/ Murray's Christian Evangelista was the project executive with Leonidas Stellakis as the lead project manager. Featherstone Architects provided the architectural services.

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ARCO/Murray Construction Co has completed the construction of a 3,000 SF office improvement project and a 2,500 SF lab renovation for a undisclosed client in Deer Park. ARCO/Murray's Joseph Pomerenke was the project executive with Chris Niedhammer as the lead project manager.

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Morgan / Harbour Construction is building out 2,100 SF of medical office space for Southwest Dermatology within the Silver Cross Medical Office Building. The project is located on the Silver Cross Replacement Hospital Campus at 1870 Silver Cross Blvd in New Lenox. Morgan / Harbour’s Ben Warriner is leading the construction team, which includes project manager Josh Peters. Design Organization is providing the architectural services.

Sales News

@properties’ Commercial's Esther Yelen Berman and Mike Levinrepped the seller in the sales of a fully leased, 12k SF strip shopping center at 1387 Lee St in Des Plaines. Berkson and Sons' David Berkson, represented the buyer, a local investor. The center is anchored by Advanced Auto Parts. Other tenants include Cleaners Depot and Mattress Bargains. Listing price was $3.4M; final price was not disclosed.

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Marcus & Millichap's Eric Bell repped the buyer and the seller in the sale of a 65-unit apartment building in the South Shoreneighborhood. At closing, the property sold for $1.65M with an economic occupancy of about 60% (really 85% occupied, with about 60% paying rent) and needed $200k of repairs. The seller acquired the whole loan, negotiated deed transfer, and then hired Eric and his team to exclusively market the asset.

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Building Equity's Dan Rosenberg and Peter Lynn repped both buyer and seller in three investment sales. The first was a 13k SF industrial building sale at 10140 S Virginia Ave in Chicago Ridge for $510k. The second was a 3,400 SF single-story retail building at 1821 W Roosevelt Rd in Broadview for $75k. The third was a commercial condo at 2875 N Clark St for $40k. Dan says he seeing many more user-owners, and there was even a bidding war on one building.

Executive Moves 

Russ Howell has joined Jones Lang LaSalle as managing director on the strategic consulting team in the firm’s corporate solutions business. With more than 28 years of experience in corporate real estate and real estate investment banking, Russ has successfully executed strategic consulting and management assignments valued at more than $4.5B. He holds a bachelor's degree from Princeton University and an MBA from Columbia University.