|Lowe Enterprises Investors acquired the 28-story, 213-room Affinia Chicago Hotel at 166 E Superior St, one block north of North Michigan Avenue, from Denihan Hospitality Group. Lowe affiliate Destination Hotels & Resorts will manage it and rebrand it as MileNorth, a Chicago Hotel. It has 3,000 SF of meeting space, a ground-floor restaurant, and rooftop bar. The previous owner did a complete renovation, including conversion of several office floors into guest rooms.|
|A local family, repped by Interra Realty's David Goss and Jon Morgan, bought the 25-unit courtyard apartments at 809 Seward St in Evanston for $2.6M as part of a 1031 exchange. Interra's Brad Feldman repped the seller.|
The Cary Co, repped by Cawley Chicago's Tim Gallagher, leased 50k SF at Addison's 1005 Republic Dr as a satellite warehouse near its HQ. JLL's Dominic Carbonari repped the landlord, Cabot Properties.
Mi's Teriyaki leased 1,715 SF in Napersville's 572 Weston Ridge Dr. Caton Commercial Real Estate Group arranged the deal.
Lee & Associates repped the landlords in the following industrial deals:
Pembrook Capital Management loaned $15M at 67% LTC to 601 W Cos to buy the note and mortgage secured by 11 S LaSalle St, a 318k SF landmark Class-B office at the intersection with Madison in the Central Loop. Built in 1916, it has 31 tenants and was renovated for $15M in 2010.
CBRE Capital Markets' Keith Huizinga and Molly Green secured $17.5M from a life company for Inland Real Estate Corp and Clarion Partners to refinance Schaumburg's 207k SF Woodfield Commons.
|CONSTRUCTION & DEVELOPMENT|
The Village Board of Orland Park chose HSA
Commercial Real Estate as development consultant for its Main Street
Triangle redevelopment project, a 32-acre pedestrian-oriented center between La Grange Road, 143rd Street, and the Metra Southwest Line for upscale shopping, dining, and entertainment. Flaherty and Collins recently broke ground on 295 luxury apartments on the southern portion of the site that will deliver
in spring '13.
The Missner Group has been selected to complete a 50k SF buildout for Jump America at 880 Lakeside Dr in Gurnee. It'll have two large trampoline courts, a dodgeball court, a kids’ court, two foam pits, a snack bar, a kitchen, and a private party. Jess Knigge and Bill Stransky are leading the project, which will open this month.
***Reed Construction completed a 6,500 SF interior buildout for Vein Clinics of America in Geneva's 1792 S Rand Rd. Bryan Kreuger and Matthew Mahoney managed the project: five exam rooms, a medical prep room, a doctor’s office, a screening room, ultrasound rooms, a break room, and shell space for expansion. CBRE assisted the owner, and HDR Architecture designed the project.
|EXECUTIVE & COMPANY NEWS|
Heitman hired David Maki as SVP for North
American capital markets. He has 25 years of real estate experience, most
recently in the same position for RREEF
Alternative Investments. He has also been national head of real estate mezzanine finance
for LaSalle Bank and managing director for Wells Fargo real estate merchant banking.
RKF opened a Chicago office, joining its New York HQ, plus offices in Vegas, LA, Miami, Northern New Jersey, and San Fran. Managing director Anthony Campagni is the first on the personnel roster, coming from Baum Realty Group with associate Elan Rasansky. He began his retail real estate career at NY's Garrick-Aug Associates with many members of RKF's exec team.
Avison Young hired a pair of Hoosiers, Erik Foster and Mike Wilson,
(from Grubb & Ellis) as principals. Erik does asset advisory,
dispositions, and sale-leasebacks, and Mike's experience is in capital markets for industrial and MOBs.
***ConopCo Property Management hired Liz Snell as biz dev manager. Her education is in architecture and environmental and civil engineering.
|Marcus & Millichap Real Estate Investment Services promoted Jacob Gehl from VP to first VP of investments. He joined the firm in '99 and specializes in seniors housing.|
|Carl Knutson joined architecture firm Goettsch Partners as associate principal and senior designer, focusing on hospitality, mixed-use, and institutional buildings. He has also worked for Perkins+Will and Skidmore Owings & Merrill.|
|Scott Latter joined EnTrust Realty Advisors as an analyst. Previously, he launched a State Farm office in Aurora and has worked for TTX Co and Singlewire Software.|
|Horn Design promoted Kayla Dooley to senior designer. She joined the company in '08, working for clients like Advocate Physician Partners, Valtera, Lisle Chapter 13, Table XI, Standard Parking, Schawk, and Chicago Office Centers.|