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The Deal Sheet

Chicago

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The Deal Sheet
Altair Advisors has signed a 12k SF lease renewal at 303 W Madison. CB Richard Ellis' Christopher Cassata repped ownership, 303 W Madison LLC.
 
303 W. Adams
MB Real Estate's Pamela Rose  repped the tenant. The 311k SF, 26-story office tower is a four-time  TOBY award winner.

Sales News


Crossroads Development Partners purchased 4201 Lake Cook Rd in Northbrook to reposition the  66k SF office building. The property was purchased at a Sheriff’s sale for an undisclosed price. CB Richard Ellis's  Michael Whisler  and Adam Showalter have been named the exclusive leading agent for the 100% vacant building.

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Paine/Wetzel · ONCOR International has completed three industrial sale transactions:

  • Romane Fragrances has purchased a 51k SF industrial building at 7525 Quincy in Willowbrook. Paine/Wetzel's Elise Couston  and Les Spinner  represented the seller, Chicago Properties, and Cawley Commercial Real Estate's Terry Grapethin  repped the buyer.
  • Somerset Capital Group  purchased a 43k SF industrial facility located at 1375 Kingsland in Batavia. Paine/Wetzel's Adam Naparsteck represented the buyer and CBRE's David Prell and Kirk Armour repped the seller, Sitex Realty Group.
  • LBG Enterprises purchased a 12k SF facility at 10265 Franklin Ave in Franklin Park. Paine/Wetzel's Gregory Wright and Adam Naparsteck represented the seller, ABC Bank. National Realty Network's Charlie Pick repped the buyer.

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Opus Development Corp has sold Oakview Building I in Oakview Corporate Park in West Dundee to a Boston-based real estate advisor for an undisclosed sum. The 155k SF building was 83% leased  at the time of the sale by Plastival, General Technologies, and MayTec. The complex totals three buildings and about 300k SF.

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900 Reba in Evanston was purchased for $2.9M. This apartment building was made up of 11 one-bedroom/two-bath units and 11 two-bedroom/one-bath units totaling 22 units. Kiser Group's Bill Baumann and Lee Kiser represented the list and buy-side of the transaction.

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Syndicated Equities' Isaac Metzger repped both buyer and seller of a 3,592 SF single-tenant net-leased Arby’s Restaurant property in Mishawaka, Ind. The deal closed last week for 1.3M. The buyer is a high-net-worth investor based in Florida. Seller is an Indiana-based real estate developer and investor.

Construction News

The Missner Group completed two office/warehouse build-outs at 419 Village Drive in Carol Stream. The Missner Group originally developed and constructed the 92k SF speculative industrial facility in 2008. In the first project, Supply Technologies is working on a 6,800 SF office build-out and 44k SF of warehouse improvements. This includes a conference room, private offices, lunchroom, and reception area with open office space. The second build-out consists of 3,800 SF of office and 38k SF of warehouse for  Larsen Packaging.

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Michaels Stores contracted DeLauter Development to construct their new location in Kildeer. Michaels is taking over a previously occupied Circuit City Store at The Shops of Kildeer. DeLauter is making interior renovations to the 35k SF facility.

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Morgan / Harbour Construction Co completed a 19k SF office build-out for New York Life Insurance Co at 20 N Martingale Rd in Schaumburg Morgan / Harbour worked with project manager,Cushman & Wakefield. Contractors completed the construction of private offices, conference rooms, open workspace areas and a break room within the new space. Wight & Co provided the architectural services.

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Gallant Building Solutions  is the GC for the new construction of the 8,000 SF Auto Tech service center located in Huntley. This will be the auto service provider’s first brand new ground-up facility, scheduled to be completed this fall.

Leasing News

Lee & Associates' Mike Prost and Sergio Chapa represented The Metal Shop  in its lease of 25k SF of warehouse at 10555 86th Ave in Pleasant Prairie, Wisc. Mike and Sergio also represented building ownership.

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Stout Risius Ross has restructured its lease at One South Wacker Dr, extending its 25k SF lease. Studley’s Robert Sevim represented the tenant. The landlord, TIAA-CREF, was represented by Jones Lang LaSalle's Michael Curran.

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Ifbyphone has signed a new 21k SF lease at 300 W Adams St. CB Richard Ellis' Christopher Cassata and Rachel Waymire repped the ownership, 300 W Adams (Chicago) LLC. Colliers International's Michael Cummings repped the tenant. The building is now 95% leased.

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Lee & Associates' Ellen Steinbrecher and CJ Kuehl represented 3DS Corp in its renewal of 1,956 SF of office space located at 17W110 22nd St in Oak Brook Terrace. Hamilton Partners' Phil Sheridan represented the owner.

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Lee & Associates' Ronan Remandaban represented Red Cedar Trading in their lease of 848 SF of office space located at 520 Lake Cook Rd in Deerfield. Colliers International's Steve Kling and Chris Cummins represented building ownership, Arden Realty.

Management News

Paramount Lodging Advisors is the new asset manager for the Cliffbreakers Riverside Resort  and Conference Center in Rockford. The property contains 100 guest rooms, 27k SF of flexible meeting space, four ballrooms with open-air decks, and 65-person amphitheater.

Executive Moves

Sydney Scarborough has joined Jones Lang LaSalle as a managing director in the firm’s healthcare solutions group. She joins Jones Lang LaSalle with 30 years of experience in the healthcare and financial services industries. In 1998, she co-founded Lillibridge Healthcare Services. She graduated from Chatham University in Pittsburgh and the University of Pittsburgh.

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Wanda Spado Evangelista has joined Millennium Properties the team as SVP of property management. In her previous positions, she spearheaded prominent management projects such as the 229-unit Silver Tower Condominium Project in River North, along with a number of projects associated with Kennedy Homes, Neumann Homes, and Pasquinelli Homes. She has a bachelor's degree from Northeastern Illinois University and a masters from IIT.