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THE DEAL SHEET

Chicago

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THE DEAL SHEET
SALES
 
THE DEAL SHEET

1514 W Howard in East Rogers Park, a gut rehabbed, 48-unit mixed-use apartment building, traded hands recently for just over $4M. The ground-floor commercial spaces will soon be fully leased, with a kindergarten program expanding into the final 1,700 SF of vacant space. The seller was an investor group seeking an exit after completing the renovation and initial lease-up, while the buyer was an individual investor. Interra Realty’s Justin Ross repped the seller and Brad Feldman, also of Interra Realty, repped the buyer.

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Savills has repped HSA PrimeCare on the sale of a four-building MOB portfolio in Illinois. Griffin-American Healthcare REIT acquired the properties, which total 150.1k SF. Two of the properties are located in Champaign-Urbana, while the other two are in the greater Chicago area.

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A triple-net leased, 13.6k SF Walgreens at 2345 W 103rd St in Chicago, has traded hands for $7.5M. The Boulder Group’s Randy Blankstein and Jimmy Goodman repped the seller, a Midwest-based partnership, in the transaction. The buyer was a West Coast-based institutional player who self-represented.

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JCF Real Estate has been named the court-appointed receiver and/or manager on six properties throughout the Chicagoland region and Michigan. The six properties are in Chicago, Crest Hill, Ill., and Fort Gratiot, Mich. The firm has also recently disposed of $2M worth of bank-owned properties on behalf of several lenders.
 
Reznick (Client) MCHI
LEASING
 
THE DEAL SHEET

Marketing specialist TRISECT has leased 30.3k SF at 130 S Jefferson St (the Glessner Center). DTZ, headed by EVP Steve Schneider, repped the tenant in the deal, while the building’s ownership, Loft Development, was self-represented by Dan Kaplan. The historic 70k SF, five-story building at the intersection of Adams and Jefferson has undergone extensive rehab work recently.

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The site of the former Orange on Clark at 738 North Clark St in River North has been leased to new restaurateurs, who plan to open an artisanal sandwich concept in the 2,500 SF space this fall. Kudan Group repped the landlords, with RKF repping the tenant. Separately, Kudan repped At Ease LLC in its lease of 3006 N Sheffield, where the company plans to open Tawuki, a sushi bar and grill, in October.

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Retailer Saks is planning to close its Saks Fifth Avenue store in Renaissance Place in Highland Park, Ill. The store opened in 2000 and occupies about 49k SF. Saks’ flagship store on Michigan Avenue in Chicago will remain open.
CONSTRUCTION & DEVELOPMENT
 
THE DEAL SHEET

Chicago CK Enterprises has completed retrofitting the first two stories of 160 E Illinois, a 26-story building, to accommodate tenants that will include the Michigan Avenue Radiation Center and the CyberKnife Cancer Institute of Chicago, a program of Swedish Covenant Hospital (pictured: a CyberKnife system). Mortenson Construction was the contractor on the project, which required some unusual features, such as the installation of vaults that weigh 2.5 million pounds to contain radiation equipment.

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Work has started on the second phase of a $4.2M renovation of the Union League Boys & Girls Club at 2157 West 19th St in Pilsen. This phase entails a full remodel of the original 19th-century “Club One” building, and follows the completion in July of a four-story, 17,000 SF annex adjacent to the existing facility. Chicago-based Tandem Construction is the contractor.

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Michigan Plaza (205/225 N Michigan Ave) has been awarded the LEED-EB Gold. The property is leased and managed by MB Real Estate.
EXECUTIVE MOVES
 
THE DEAL SHEET

Clint Moreno has joined Syska Hennessy Group, a global consulting, engineering and commissioning firm, in its Chicago office. Clint will serve as part of the company’s re-launched Information and Communication Technology practice and be responsible for providing technical direction and guidance, as well as hands-on project management, for the ICT practice within the Chicago and Midwest.

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Stephen Smith has joined Northbrook-based MedProperties Group’s advisory board and investment committee. In his new role as a partner in the capital markets area, he will lead MedProperties’ efforts in seeking new equity investors for its co-mingled funds as well as for separate accounts, JV partnerships and co-investments.

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Dominic Valvano has been promoted to project manager at Oak Brook-based Krusinski Construction. He has worked on several successful projects for the company, most recently for a Fortune 20 client with projects in Mississippi and Tennessee.