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Keefer's Renews; The Deal Sheet

Keefer's Renews; The Deal Sheet
One of our favorite restaurants is sticking around for another lease cycle: Keefer’s Restaurant renewed its lease for 11k SF at Dearborn Plaza.
The 17-story building at 20 W Kinzie is owned by The Alter Group.Glenn and Richard Keefer and James de Castro own the 240-seat restaurant. The Alter Group's Matt Ward repped ownership.
Sales News

Nuva-Reach Scrap purchased a 34k SF building on five acres at 641 E 108th St in Pullman. Nelson Hill's Michael Nelson and Mark Nelson repped the seller, Progressive Rail. Charles Rutenberg Realty's Shaun Dobson repped Nuva-Reach.


Building Equity Real Estate's Peter Lynn and Dan Rosenberg sold a failed condo conversion in Lakeview. The new construction building contains three three-bedroom and two-bathroom units, and one commercial space. The building was fully occupied and priced at$640k. Peter and Dan were the exclusive brokers.

Leasing News

Jones Lang LaSalle has been named the exclusive real estate advisor to Bar Louie in its national expansion initiative. The bar and restaurant is looking for 100 new locations in 20 markets nationwide (it currently has 50). Bar Louie is set to open 20 new restaurants, including up to 10 new franchises in 2011. Each will occupy 4,000 to 7,000 SF and Bar Louie will use JLL's OneView GIStool to select spaces. JLL's efforts will be led by Greg Ferrante in the Baltimore office and Chris Malherbe and Lew Kornberg in the firm’s Chicago office.


Dolphin Commercial Laundry has signed a lease at Midway Business Center for 32k SF. NelsonHill's Michael Nelson and Mark Nelson represented the owner. Dolphin Commercial Laundry had no broker representation.


Duracare Furniture leased 20k SF at 3510 S Western Ave. Nelson Hill's Michael Nelson and Mark Nelson repped the building owner. Duracare repped itself.

Finance News

NorthMarq Capital has arranged financing for the new HQ of Nestle Foods' frozen pizza division at 885 Sunset in Northbrook. Northmarq's Jeff Cherner originated the $6.7M loan on the 75k SFbuilding, which fully amortizes over 15 years at a 5% interest rate. The building will house 200 employees and is 60% office and 40% R&D space.

Construction News

McShane Construction is building out 39k SF of office for A.M. Castle & Co at 1420 Kensington Rd in the Crossings business park in Oak Brook. The firm is moving from Franklin Park. Archideas is providing architectural services. The build-out is set to be finished later this month.

Executive Moves

UGL Services promoted three of its senior brokers from SVP to EVP:Ralph GerbieChris Wood, and Scott Goldman. All three have more than 20 years of industry experience. Chris is also the managing director of the Chicago office. Ralph has been with UGL for26 years and has completed $2B in transactions there. Scott has consistently been a top producer in the Chicago office.


Thornton Tomasetti announced several promotions as its current president and CEO Dan Cuoco will be retiring at the end of May.Thomas Scarangello will be promoted to chairman and CEO,Robert DeScenza to president, and Aine Brazil and Dennis Poonto vice chairmen. The changes are effective May 12. Thomas has been with the firm since 1979 and is a licensed professional engineer in 26 states. Robert has served as COO of Thornton Tomasetti since2005, overseeing the global operational activities of the firm. Aine has been responsible for the design and construction of projects including 3M SF of high-rise office development in the Times Squarearea and the major expansion of New York Hospital. Dennis helped in the design and construction of Taipei 101 in Taiwan and Bally’s Atlantic City hotel and casino in New Jersey.


Matthew MacRitchie and Elizabeth Snell have joined the Chicago office of HOK as VP and director of business development and business development manager for interiors, respectively. Matthew will also provide guidance for building new client relationships across HOK’s North Central region. Prior to joining HOK, he was president and CEO of Ochoa Enterprises, a development company in Chicago. Elizabeth will primarily focus on marketing and business development for HOK’s growing interiors practice. Prior to joining HOK, she worked for Bovis Lend Lease in Chicago.


Scott Kulberg has joined the Chicago office of UGL Services as an SVP. A 12-year industry veteran, he was most recently with the Chicago office of Studley. He specializes in structuring real estate transactions for major public corporations, legal and financial service firms, private companies and not-for-profit organizations. He holds a bachelor's degree from Miami University in Ohio.


Mark McNeill has joined NorthMarq as a sales executive. He will focus on NorthMarq’s new business efforts in facilities management in Chicagoland and throughout the Midwest. He has 15 years of experience in business development, contract administration, and human resources as an executive with IPC International Corp. Mark is a graduate of Blackburn College and the Business Institute at theLake Forest Graduate School of Management.