Contact Us
News

THE DEAL SHEET

THE DEAL SHEET
SALES
 

Sunstone Hotel Investors agreed to acquire the fee-simple interest in the 357-room, 23-story Hilton Garden Inn Chicago Downtown/
Magnificent Mile
on Grand Avenue for $92M, or $257k/key. The deal is expected to close in Q3. Sunstone owns the Embassy Suites Chicago across the street.

***

Brennan Investment Group, repped by Darwin Realty's Patrick Shannon, acquired the Wismarq Corp Franklin Park production and distribution facility from Duke Realty. Wismarq has been there since '96.

***

Newcastle Ltd acquired the 15k SF 953 W Belmont retail property in Lakeview at the intersection with Sheffield Avenue, next to the CTA Belmont station, for $4.6M. Marcus & Millichap's Kyle Stengle and David Gaines repped the seller.

***

Millennium Properties R/E repped banks in three NW suburb sales:

  • Dr. Genrikh Gandelsman, a dentist, bought the 6,900 SF 3065 Falling Waters Blvd in Lindenhurst, a former day care. Re/Max's Budd Busceni also worked on the sale.
  • Tim and Todd Scott bought the 7,800 SF warehouse at South Elgin's 1520 Gilpen Ave. Prudential Starr's John Laduer also worked on the deal.
  • Emmanuel Giamakakis bought a 9,100 SF restaurant at Antioch's 950 Hillside. Kakenmaster & Associates's Dave Burkett also worked on the sale.
 
Reznick (MultiFam) MCHI
LEASING
 
Naperville Crossings

Mid-America Asset Management's Barb Kading and Jaime Platt signed five retailers at Naperville Crossings and renewed three.

  • Tide Dry Cleaner leased 3,300 SF and plans to open a drive-through service in Q1 2013, its first Illinois location. Tide, repped by Baum Realty Group's Allen Joffe, is a franchise of Agile Pursuits Franchising, which is a Proctor & Gamble subsidiary. Sharing the building, which will deliver in October, is TCBY, which leased 1,800 SF for its 15th Illinois location. CBRE's Jacob Dell repped the frozen yogurt shop.
  • Crepe place Paris Bistro, repped by JI Johnson Corp's Jeff Johnson, leased 1,600 SF formerly occupied by The Corner Shoppe and will open this month.
  • Go Green Baby Co leased 1,500 SF and opened its eco-friendly kid's apparel store last month.
  • WineStyles signed 1,200 SF for five years for its 11th Chicagoland franchise.
  • Renewals: Rocky Mountain Chocolate Factory for 1,000 SF, Elegance Underneath for 1,400, and California Closets for 1,800.

     

    ***

JLL's Dominic Carbonari and Frank Griffin repped the owners in three DuPage County industrial leases. CoreCentric Solutions leased 107k SF in Cabot Properties' 1575 Hunter Rd in Hanover Park. Cary Co leased 52k SF in Cabot's 1005 W Republic Dr in Addison Industrial Park. And Keith Stauber joined his colleagues to rep ML Realty Partners in its 68k SF at Wood Dale's 888 N Central Ave to St. George Warehouse Co.

***

Industrial Battery Products renewed 22k SF in Cobalt Capital Partners' Bolingbrook property. Cawley Chicago's Terry Grapenthin and Josh Hearne repped Cobalt.

***

MB Real Estate's Danny Nikitas, Konstantine Sepsis, Doug Noble, and Annie Welsch repped the tenants in three office leases:

  • Greater Illinois Title extended 7,700 SF at 120 N LaSalle. Lincoln Property Co's Genny Emerson repped the landlord.

  • EngagementHealth, relocating from Lombard, leased 4,800 SF at 224 N DesPlaines. MB Real Estate’s Ben Cleveland repped the owner.
  • George K. Baum and Co leased 2,400 SF at 1 N LaSalle, relocating from 11 S LaSalle. Ben repped the owner.
 
Bisnow (DICE) JCHI
CONSTRUCTION & DEVELOPMENT
 
Summit Design + Build will work on a 16k SF office and warehouse buildout for Office Nation at Northfield's 500 N Central Rd, to deliver in Q3. The computer product mail order/direct dealer is relocating from Northbrook. Patrick Brown is senior project manager, and Stuart Cohen & Julie Hacker Architects are also involved.
EXECUTIVE MOVES
 
Jalil Mekouar
JLL Hotels promoted Jalil Mekouar to Americas COO and managing director of its strategic advisory and asset management business. He established the Middle East and Africa office and has been based in Dubai for five years. He's also worked in Europe, Asia, and Africa for InterContinental Hotels Group, Marriott International, and Minor International. His new role brings him to Chicago.
Ted Tomaras

Jalil's successor, Ted Tomaras, JLL Hotels Americas COO since '07, has been promoted to global COO and CFO. He's also worked for Trizec Properties, Hyatt Hotels, and Coopers & Lybrand.

***

Mark Bell joined Opus Development as a real estate manager in the Chicago office. He'll help with industrial and residential nationally and student housing in the Midwest. He came from Colliers.

***

ARCO/Murray National Construction biz dev director Joe Pomerenke and operations director Elliot Mata, both of whom joined in '05, became partners. ARCO/Murray also hired Daniel Pratt and Rod Zamparo, Univeristy of Illinois grads, as project managers. And the company hired Steve Gray from Duke Realty as a traveling superintendent.