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THE DEAL SHEET

Chicago

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THE DEAL SHEET
HFF has been named to market for sale a six-property, 1,292-unit multi-housing, seniors housing and hotel portfolio in the Chicagoland area on behalf of the seller, IRMCO Properties & Management Corp. Pricing for the portfolio is anticipated in excess of  $200M.
 
Irmco Portfolio
The properties include the Belden-Stratford at 2300 Lincoln Park West, The Flamingo Apartments at 5500 South Shore Dr, the Seneca at 200 E Chestnut, the Sovereign Apartments at 1040 W Granville, the  Versailles Apartments at 5254 S Dorchester and North Shore Retirement Home  at 1611 Chicago Ave in Evanston. The buildings were all built between 1919 and 1926. The HFF team marketing the properties is led by Matthew LawtonDan PeekSean FogartyMarty O’Connell, and Danny Kaufman.


EXECUTIVE MOVES


John Huff  has joined Mayer Brown as a partner in its real estate practice. Previously, he was a partner with Barack Ferrazzano Kirschbaum & Nagelberg. John focuses his practice on a wide range of real estate transactions, including acquisitions and dispositions, development, commercial leasing, debt restructuring, and loan transactions. His experience includes construction loans, multi-property portfolio loans, CMBS loans, and subscription credit facilities. He also has extensive experience with loan restructurings and sale and purchase of distressed debt. He received a JD cum laude from the University of Michigan Law School.

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Peter BlockEric Suffoletto, and Brad Teitelbaum have joined the investment services group of Colliers International, focusing on the sale of retail investment properties. The team is based in the firm’s Rosemont office. Peter (a 25-year veteran) and his team recently left Grubb & Ellis Co where they had worked together on retail investment projects. Brad spent the past five years in the retail group. Eric joined the team after relocating from Boston where he worked for Cushman & Wakefield on an office investment sales team.

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Scott Kapp has joined SNR Denton as a partner in its real estate practice and the firm’s real estate, retail, and hotels sector. Scott joins from Greenberg Traurig and will work in the firm’s Chicago office. He represents financial institutions and commercial borrowers, banks, and other lenders, including consumer finance lenders. Scott earned his JD from  Northwestern University School of Law In addition, he received an MBA from the University of Chicago.

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Jill Payne  has joined Colliers International | Chicago in its downtown office team where she will work alongside company principal and 27-year industry veteran, Drew Nieman. Jill will assist in the efforts of growing the downtown Chicago office leasing portfolio. Prior to joining Colliers, she spent three years in Abu Dhabi UAE working alongside Drew Nieman for John Buck International/Mubadala JV as the associate director of leasing. She has a bachelor's degree from  Illinois State University.

LEASING NEWS

AT&T  has renewed its lease for 106k SF at Four Woodfield Lake,930 National Pkwy in Schaumburg. Colliers International's Steven Kling  and Jason Simon represented owner PNC Realty Investors. JLL's George Kotriogiannis repped AT&T, who has leased the entire building since 1990.

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Lee & Associates' Brian Vanosky and Jeff Janda represented RotaDyne in their renewal of 53k SF of manufacturing space located at 1101 Windham Pkwy in Romeoville. Building ownership,ProLogis, represented themselves.

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Best Croutons leased 50k SF at 2700 Roosevelt Rd. The building owner, a private ownership entity, was represented in the transaction by Newmark Knight Frank Epic's Adam Schneiderman and  Joel Friedland. Best Croutons is relocating from a facility in the Stockyards.

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Proven Energy has leased 6,200 SF of industrial space at 1380 Gateway Dr in Elgin. Lee & Associates' Steve Bass and Nick Eboli represented building ownership, Rothbart Realty Co and Grubb & Ellis' Bruce Granger represented the tenant.

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Colliers International's Michael Adams represented Dealer Product Services  in a 13k SF new long-term lease at Kemper Lakes Business Center, Three Corporate Dr in Long Grove. Colliers International's Steven Kling  and David Florent represented owner BPG Properties. DPS is relocating from its prior location at 3105 N Wilke Rd in Arlington Heights where it leased 7,900 SF.

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Muktanand Foods has completed a lease for 13k SF of office and warehouse space in at 483 to 489 Thomas Dr in Bensenville Podolsky Northstar CORFAC International's Josh Altman repped the tenant NAI Hiffman's Joe Bronson repped the owner RREEF.

SA L ES NEWS

Quantum Real Estate Advisors's Chad Firsel repped the buyer and the seller in the sale of a single-tenant  Best Buy property in Richmond, Ind. The property was sold to Cole Capital for $4.8M. The property is a 31k SF  new construction building that is part of Richmond Village Shopping Center.

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The Boulder Group's Randy Blankstein and Jimmy Goodman are marketing a four-property Walgreens portfolio. Three of the properties are located within the Chicago MSA at 16675 S Oak Park Ave in Tinley Park, 7501 W Grand Ave in Gurnee, and 1207 N Randall Rd i n Aurora. The remaining asset is at 3325 16th Ave SW Cedar Rapids, Iowa.

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Marcus & Millichap's Ryan Engle and Andrean Angelow listed and secured an investor for a 23-unit apartment building at 110 N Cass Ave in Westmont. The asset commanded a sales price of $1.8M. The property sold in seven days from the date it first became available and closed at  98% of original list price.

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The Werk Shop  purchased an 18k SF  industrial building at 729 E Park Ave in Libertyville. Lee & Associates' Terry O’Hara represented building ownership, American Chartered Bank, and CB Richard Ellis'Zach Graham represented the buyer.

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Strauss Realty completed two bank-owned sale transactions: The 4,000 SF single-story office building located at 835 Ashland Ave sold for  $550K to an undisclosed buyer. The 11K SF three-story mixed-use building located at 2352 N Clybourn Ave sold for $520K to an undisclosed buyer. Strauss Realty's Dale Strauss was the sole broker.

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Millenium Properties' Brad Thompson repped the seller and Greg Block repped the buyer in the sale of 5602 W 22nd St in Cicero for $170k. MJ Cermak purchased the mixed-use building in all cash deal from MB Financial. The building contains eight residential and one commercial unit totaling  9,000 SF.