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Sullivan Center Wins; The Deal Sheet

Chicago
Sullivan Center Wins; The Deal Sheet
The Sullivan Center, formerly the Carson Pirie Scott building, received Landmark Illinois’ 2011 Richard H. Driehaus Foundation Preservation Award for Restoration Project of the Year. 
 
Sullivan Center

Leopardo began gutting the eight-story, 600k SF building in '07 and worked with Joseph Freed & Associates to modernize the space for retail, commercial, and educational tenants. It includes offices for Walgreens and white box space for Target and DSW.

SALES

Essex Realty Group’s Doug Imber and Kate Varde brokered the sale of 1063 W Columbia and 1101 W Columbia, two contiguous vintage apartment buildings located in Rogers Park. The price was $4.1M.

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Kudan Group’s Becca Lundstrom negotiated the business sale of The Exchange at 1270 N Milwaukee in Wicker Park. Becca  repped the seller, Phil McFarland, while Titan Commercial’s Ben Rosenfield repped the purchaser, longtime nightlife promoter Anthony Jones. The nearly 2,200 SF space includes a 1,650 SF lounge area and 500 SF basement.

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Kudan Group’s Juan Carlos Gomez and Mario Ponce negotiated the business sale of Bucktown’s Thai Lagoon at 2322 W North Avenue. The new owners—Patcha Intaraprasong, former sushi chef of the popular Coast Sushi, and partners and Thailand natives Nongnart Ngamsirisomsakul and Jiranet Rattanasakkayawong —have revamped the Thai menu and added an assortment of specialty sushi. The 1,400 SF space is currently open, with an 800 SF patio in the works for summer '12. 

EXECUTIVE MOVES

Terry Wilkowski joined @properties as VP of brokerage services, North Shore. He was previously  SVP and regional manager for the west suburban region of Koenig & Strey Real Living. Terry will be responsible for transaction management, recruiting, and agent training and development on the North Shore and will co-manage the North Shore region with @properties vice presidents Peter Moulton and Amy Corr. He attended the United States Military Academy at West Point and the University of Illinois at Urbana-Champaign.

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Edward Schwartz joined Fara Commercial Brokerage as president. Edward will work with clients as a business advisor, enhancing their understanding of the market and the factors that influence it.

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Inland Real Estate Group of Cos has hired approximately 330 people nationwide YTD. The companies plan to continue hiring additional talent for the rest of the year.

LEASING NEWS

Peerless Network signed a 13k SF lease with Server Farm Realty. Cushman & Wakefield’s Alex Smith repped Peerless Network. CBRE’s Chad Freese and Aaron Kulick repped Server Farm Realty. The lease is at the new 443k SF data center at 840 S Canal St.

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Celergo has expanded its operations at 750 Estate Dr in Deerfield by 4,843 SF to a total of 18k SF within the single-story office building. NAI Hiffman’s Michael Flynn and Jason Wurtz repped the landlord, ECD Co. Colliers International’s Chris Cummings repped Celergo.

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Trottie Publishing West Suburban Journal, a newspaper publisher, has leased 1,390 SF at 9930 Derby Ln in Westchester. The tenant is relocating from Oak Park.  NAI Hiffman’s Jason Wurtz and Aubrey Van Reken repped ownership Eden Charter.

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State Farm signed a lease for 1,038 SF of office space at 643 S La Grange Rd in La Grange. NAI Hiffman’s Jud Henry repped State Farm. Liz Pastriana repped the landlord, Dan Pierce.

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Real estate performance analysis firm Investment Property Databank signed a new lease for office space on the 17thfloor at The Civic Opera Building in Chicago. Bella Terra Parnters’ Rhea Campbell negotiated this transaction on behalf of IPD. 

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Global Management Services signed a long-term lease for new office space at One N LaSalle St. GMS had been a tenant at 360 N Michigan Ave for more than eleven years. Bella Terra Partners’ Rhea Campbell repped GMS in the lease.

GIVING BACK

Kudan Group’s Jeremy Kudan, Marcus Sullivan, Adam Salamon, and Caitlin Bennett took part in the SkyRise Chicago stair climb benefiting the Rehabilitation Institute of Chicago. This is their third year doing the climb, which involved 2,500 participants.

CONSTRUCTION

Summit Design + Build has been named general contractor for Office Concepts' new 32k SF corporate headquarters facility at 1142 N Branch St on Goose Island. The company will be vacating its existing location at 965 W Chicago Avenue and relocating all Chicago employees but will maintain its other sales and warehouse facility in Lake Forest. The new HQ will include 17k SF of office space and 15k SF of warehouse. It features 24’ ceilings, an open floor plan, two conference rooms, and one training room and will feature sustainable finishes throughout. Summit Design + Build’s Pat Lynn and and Rodger Meyer will be responsible for the on-site construction. SKJN Architekten Corp is the project architect. 

RECEIVERSHIPS

 

Millennium Properties R/E, through Daniel Hyman, has been named the court-appointed receiver on an additional 14 properties in the Chicago region since the beginning of Q3, bringing Millennium’s receiver and/or management portfolio to more than 100 properties. The portfolio includes office complexes, net-leased medical, industrial, retail shopping centers, and multifamily apartment buildings. The new receiverships come from a wide array of lenders, hedge funds, and servicers in Chicago and the West Coast.