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The Deal Sheet

Chicago

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Leasing

Sterling Bay Companies has enlisted CB Richard Ellis as the exclusive leasing agent for 300 West Adams. CBRE assumed the leasing in July 2009 with Christopher Cassata as agent. The building is a 253k-SF office.

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Cawley Chicago Commercial Real Estate's Tom Gath and Sergio Volpe leased 4 spaces in the O?Hare industrial corridor totaling approximately 15k-SF.

  • Tom exclusively represents 468-476 Country Club Drive in Bensenville where he procured a long term lease for a 6k-SF tenant bringing the 30k-SF building to 100% occupancy.
  • He also represented tenant Standard Transportation in locating its new space at 840 Foster in Bensenville.
  • Tom repped tenant Midwest carrier Express in leasing space at 744 Foster Ave in Bensenville. American Landmark  owns this multi-tenant industrial building.
  • He leased approximately 6k-SF at 1840 ? 1894 Elmhurst Road in Mt. Prospect; Principal Group's industrial multi-tenant buildings at O?Hare Business Centre. 

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Melissa S. Miller, commercial broker/associate for Century 21 Country North, recently completed five new commercial lease transactions. In the first four, Melissa represented both the tenant and the landlord/building ownership:

  • LaserCare, Inc, a locally owned  provider of supplies for printers, copies and fax machines, leased 2k-SF at 1631 Rural Street in Rockford.
  • Infinite Horizons Design, a boutique graphic design firm, leased 1k-SF of office space on the third floor of the 127 N. Wyman Street building in Downtown Rockford.
  • Chicago?s largest black-owned law firm, Power & Dixon LLC, leased 1k-SF that it will use to house a Rockford satellite office at 321 W. State Street.
  • Accountant Matthew Suby  leased 590 SF of office space in the Perryville Office Suites building, 6957 Olde Creek Road in Rockford.
  • Melissa represented Edward Jones  in a lease of a new 2k-SF Rockford office space at 3636 E. State Street on Rockford?s East Side. 

Management

190 South LaSalle, managed by CB Richard Ellis and owned by CBRE Investors - Strategic Partners US, has been awarded LEED certification. CBRE's Craig MatuszewskiSarah Russell, and Randy Arnold worked to meet high standards for site sustainability, water efficiency, energy and atmosphere, materials and resources, and indoor environmental quality.

 

Architecture

A project designed by Harley Ellis Devereaux in Chicago won a Green Good Design Award. The  Wentworth Commons Apartments Mercy Housing is a combination of supportive affordable housing with environmental friendliness. The complex features a renewable energy source in its roof-mounted 33 KwH photovoltaic solar energy system, which on a peak day, produces 25% of the building's electricity. Wentworth Commons was the first multi-unit residential building to receive LEED certification in Chicago.

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Rockford Renewal LLC has announced plans to convert a 103-year-old Catholic school into a Class ?A? build-to-suit office. Located at 118 S. Winnebago Street in downtown Rockford, the former St. Mary?s School was built in 1906 and last housed students in 1974. The building, which has been renamed  St. Mary Place, features roughly 13k-SF and is ideal for professional services firms, doctor?s and dentist?s offices, accounting firms, technology companies and  law firms and other legal services providers.

 

Auctions

Inland Real Estate Auctions, Inc. announced that more than $15 million of commercial and residential property will be sold in a single day at an auction event scheduled for Sept. 2. Local area banks and developers have ordered the immediate sale of the properties, including five upscale homes in successful suburban Chicago subdivisions. Other properties for sale include a commercial condominium in a retail/office building in Chicago?s South Loop, an industrial park and more than 138 acres of commercial development land. Commercial properties for sale include:

 

  • A 4k-SF retail/office condominium in  the Vetro, 611 S. Wells St., a mixed-use building in Chicago?s South Loop. Previously priced at $1.5 million, the condominium will be sold subject to a minimum bid of $610,000.
  • More than 138 acres  of commercial development land, which includes The Woodlands, a 12-acre wooded site near Route 126 in suburban Yorkville zoned for business development that could include medical office, retail, or a restaurant and three parcels totaling 126 acres near Interstate 80 in Morris.
  • A 13-acre industrial park in Oswego, which provides great investment or development opportunities, with utilities extended to the site, rail access, and broad zoning, allowing most light industrial, manufacturing and warehouse uses.

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People

Rodney Greenfield joined Morgan / Harbour Construction as Estimating Manager. His new capacity will entail preparing bids and estimates for the company's construction activities. He was previously employed with Monarch Design and Construction and is a Northern Illinois grad.

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The Building Owners and Managers Association of Suburban Chicago has named Michael Lisula, Senior Property Manager for Duke Realty at Riverway in Rosemont, to fill a vacancy on the BOMA/Suburban Chicago Board of Directors

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Grady Hamilton  has been promoted from real estate director to senior real estate director at Opus North Corporation.   Since joining Opus North in 2005, Grady has supervised the development and leasing of multiple suburban speculative Class A offices, including the 160,085 SF Opus Landmark  in Lake Forest, Ill., and the 251,235 SF Highland Landmark V in Downers Grove, Ill, where DeVry recently committed to a long-term lease for 165,000 SF. Grady graduated from Miami University.

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Jones Lang LaSalle  announced that properties it manages have an average  ENERGY STAR score of 68, which is 18 points better than the average. This performance equates to nearly $15 million a year, or $53,000 per building, in energy cost savings. JLL also announced that it has surpassed its 2009 goal of employing 500 sustainability accredited professionals.