THE DEAL SHEET
| A 27k SF urban retail building at 237 E Ontario St formerly tenanted by the Museum of Contemporary Art and The Film & Tape Works Studios has signed its first three tenants while the building undergoes redevelopment for retail and restaurant use, according to Mid-America Real Estate Corp's Steve Frishman. | |
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| Signed are Noodles & Company for 3,307 SF, Five Guys Burgers and Fries for 2,520 SF, and 7-Eleven for 1,861 SF. Steve and MidAmerica's Brian Adams brokered the leases on behalf of landlords Kari Blunda and Clint Mahoney. Noodles & Company was represented by CR&M Commercial Realty's Marc Rubin. Five Guys was repped by Mid-America’s Steve Frishman and 7-Eleven was represented by SRS Real Estate's Adam Cody. A total renovation of the building will start this fall. | |
SALES NEWS *** Marcus & Millichap's Evan Halkias and Michael Marks repped the seller of VitaDialysisCenter, a 6,000 SF single-tenant net-leased property at 13155 S LaGrange Rd in Orland Park. Marcus & Millichap's John Abuja and Jason St John repped the buyer, an LLC, which paid $2.1M for the property. *** Kiser Group's Bill Baumann and John Olar listed and closed three bank-owned properties in Glenwood for $1.2M. 726 E 191st St, 727 E Glenwood-Lansing Rd and 801 E Glenwood-Lansing Rd include 36 units. The Kiser Group's Lee Kiser represented the buyer. *** Marcus & Millichap's Evan Halkias and Michael Marks repped the buyer and seller of Aspen Dental, a 3,455 SF single-tenant net-leased property at 138 Highland Ave in Forsyth. The assets sold for $1.2M, at an 8.3% cap. *** 4954 S Martin Luther King Dr was sold by Kiser Group's Brad Feldman and Sean Connelly for $300k. The 15-unit bank owned property in the Bronzeville neighborhood has been gut renovated on both the interior and exterior. Brad and Sean repped buyer and seller. *** Millennium Properties R/E's Susan Silver sold 666 Dundee Rd in Northbrook for an undisclosed sum. Scott Stainless Steel purchased the office building from American Chartered Bank. Susan represented both parties in the transaction. The 5,246 SF property is part of a larger office complex. DEVELOPMENT NEWS LEASING NEWS
*** Arthur Rogers & Co's Chris Zannis repped the owner in three new leases at Rogers Business Parke-Elgin in Elgin. In the first transaction, Nationwide Appraisals leased 2,900 SF of office space at 2521 Technology Dr. Chicagobroker.com's Steven Goldstein repped the tenant. In the second, Linear Industries renewed and expanded to 7,800 SF at 2531 Technology Dr. The tenant was self represented. In the last transaction, The McCarthy Group signed an 1,800 SF new office lease at 2521 Technology Dr. The McCarthy Group also represented itself. *** MB Real Estate’s Michael Hull represented Katz, Friedman, Eagle, Eisenstein, Johnson & Bareck PC in an 11k SF lease renewal of its HQ at the Chicago Temple Building at 77 W Washington. CBRE's Allison Olszta repped the landlord in the lease that starts Jan. 1, 2013. EXECUTIVE MOVES *** Kevin Hughes has joined Jones Lang LaSalle as a member of the firm’s corporate solutions executive team. Hughes, a 26-year CRE vet, will serve as executive managing director and principal. His role will also extend into Jones Lang LaSalle’s brokerage business. Prior to JLL, Kevin dedicated his time as an executive and Board Member for Cornerstone Corp for Shared Equity, a non-profit that provides affordable housing and community development. He has a bachelor's degree from the University of Dayton. *** Reuben Rischall has been promoted to VP at The Modal Group. Reuben has completed multiple transactions with DNJ Trucking, Continuum Transportation, ContainerPort Group, and CenterPoint Properties. The Modal Group was founded in 2008. *** Daniel Corrado joined Cawley Chicago Commercial Real Estate. Daniel has a BS in accounting from St Johns University. His prior work experience includes two startup businesses in Chicago,Accountix Staffing and more recently Resureel LLC, both of which catered to Fortune 500 companies in and around Chicagoland. He will now work with property owners and tenants within the industrial real estate space. RECEIVERSHIPS *** JCF Real Estate, through John Fitzmaurice, has been named the court-appointed receiver and/or manager on 11 properties throughout Chicagoland. The new properties are located in Chicago, Calumet City, Flossmoor, Wheeling, Orland Park, and Skokie and represent all asset classes. The firm’s current assignment group includes nearly 85 receivership and REO assignments, totaling almost 100 properties throughout Chicagoland. CONSTRUCTION NEWS *** Morgan / Harbour Construction Co has completed an office build-out for The Doctors Co at 2800 W Higgins in Hoffman Estates.Morgan / Harbour Construction was selected by property owner,Hamilton Partners, to complete the 4,000 SF renovation, which included a new open work space, private offices, and a conference room. Morgan / Harbour’s Ben Warriner was the project executive and Noah Warriner was the project manager for the office build-out.The Jenkins Group provided the architectural services and Interni Design provided design services. *** Reed Construction completed work on Outpatient Cardiac Diagnostic build-out at 24600 W 127th St in Plainfield. The new Cardiac Diagnostic Center at the Edward Outpatient Center features multiple procedure rooms, clean and soiled utility rooms, a hot lab, a nuclear camera room, and a staff work room. Reed's Scott Pickands was the project executive and Christine Roche is the project manager. Potokar provided architectural services. *** Reed Construction has completed a 50k SF interior build-out on the 24th and 25th floors at Three First National Plaza at 70 W Madison. The renovation included the construction of new executive offices with glass and wood crafted facades and open work areas. Reed's Bryan Kreuger was the project executive. Whitney Architects provided the architectural services. SPIN-OFF |
