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The Deal Sheet

The Deal Sheet
1416 Lunt Ave, East Rodgers Park, Chicago


Sterling Home Development bought 27 partially-completed condo units in at 1416 W Lunt Ave in East Rodgers Park for $1.4M. Millennium Properties R/E's Daniel Hyman and Brad Thompson brokered the sale on behalf of a financial institution/seller that had acquired the units through a purchase of a failed bank's loans in a loss/share agreement with the FDIC. Freeborn & Peters' James Gray also counseled the seller, and The Kiser Group's Sean Connelly (not to be mistaken with James Bond.

Metropolitan Mini

Clayco and Venture One Real Estate acquired the last 350 acres at Park 88, the largest business park within the I-39 Logistics Corridor, from Citizens First National Bank. First Midwest Bank financed the deal. It's the largest Midwest industrial sale since '07, according to Colliers' George Cutro. The buyers have been involved with Target's 1.5M SF Chicago distribution center and 1.6M SF of distribution centers for 3M since the 565-acre Park 88 came online in '03. The land the JV just bought has five pads (1.9M SF total capacity) and a shovel ready, 1.7M SF cross-dock distribution parcel.

Reznick Intext CHI

Straus Realty sold the 2,052 SF 1647 W Cortland St on behalf of a bank for $410k. The two-story brick building is suitable for commercial or residential.


Gooder-Henrichsen bought a 14k SF manufacturing building at 2910 State St in Chicago Heights. Lee & Associates' Scott Anderson and Nick Eboli repped the seller, Tomahawk LLC.


H.D. Golf Ventures purchased 10.4 acres of industrial land at 510 Tyler Road in St. Charles from First American Bank, which was repped by Lee & Associates' Terrence O’Hara and Scott Anderson.


D5 Building Enterprises acquired a 33k SF industrial property at 925-933 Oaklawn Ave in Elmhurst. Lee & Associates' Jeff Janda and Mike Plumb repped the buyer and CBRE's Pat McCourt and Chris Zubel the seller.


Community Housing Advocacy and Development bought an 11k SF turnkey property at 531 Roosevelt Road in Wheaton and will relocate there from Villa Park. Paine/Wetzel/TCN Worldwide's Jeffrey Girling and Terence Lynch repped the not-for-profit, and Sperry Van Nes' Wayne Caplan and Olivia Czyzynski the seller.


An individual repped by Marcus & Millichap's James Clough bought the 12-unit 10645 S Parkside Ave apartment building in Chicago Ridge for $740k. M&M's Ryan Engle and Andrean Agelov repped the seller, an LLP. The pair also arranged the sale of the 12-unit 320 W Dale Drive apartments in Addison for $675k.



A REIT has acquired 16k SF of ground-floor retail in Forest Park, known as Madison Street Commons, as well as 8,000 SF of ground-floor retail in Oak Park, known as Euclid Commons, from a developer for $4.6M. M&M's Sean Sharko, Austin Weisenbeck, Dominic Sulo, and Adrian Mendoz a marketed the property and Sean and Austin arranged the buyer.


Sugar Steel Corp leased a 31k SF crane-served building with rail access to Union Pacific and Canadian National railroads from Vesuvius USA. The tenant was repped by Lee & Associates' Scott Anderson.


Castle Craft Products, repped by Lee & Associates' Nick Eboli, leased 12k SF of manufacturing space at 1133 N Ellsworth Ave in Villa Park. Newmark Knight Frank Epic's Joe Karmin and Justin Lerner repped the landlord.


O’Reilly Auto Parts leased 9,000 SF of retail at 904 S Milwaukee in Libertyville. Gatland & Associates' Miles Gatland repped the tenant, and Lee's Rick Scardino repped Liberty Mill Plaza.


The Don Adams Corp, repped by Lee's Ellen Steinbrecher and CJ Kuehl, renewed 4,700 SF of office space at 1333 Butterfield Road in Downers Grove. CBRE's Jeff Mann repped the owner.


Rice Lake Square

Mid-America Asset Management completed a five-month renovation of Grosvenor Americas' 251k SF Rice Lake Square shopping center (Whole Foods, Stein Mart and PetsMart) in Wheaton. The project includes two new pedestrian plazas, more parking, traffic-flow improvements, and new landscaping and signage. It's the center's first update since it was delivered 20 years ago. Architecture firm Pappageorge Haymes Partners, civil engineering firm Spaceco, landscape architect Hitchcock Design Group, and general contractor Pepper Construction also worked on the makeover.

Hairpin Lofts and Logan Community Arts Center, 2800 N Milwaukee Ave

McShane Construction has completed the historical preservation and reconstruction of Brinshore Development and Lester and Rosalie Anixter Center's Hairpin Lofts and Logan Community Arts Center. The 51k SF 2800 N Milwaukee Ave (at the six-corner intersection with Kimball and Diversey Avenues) dates to 1930 and was formerly known as the Morris B. Sachs Building. It now as 9,000 SF of ground-floor retail, a 7,000 SF community center on the second floor, and 28 one- and two-bedroom affordable and market-rate apartments. It's pending LEED gold certification. Hartshorne Plunkard Architecture also worked on the project.

Rochelle Energy Center
Ragnar Benson Construction recently completed design/build services (architect HR Green) on Rochelle Energy Center, a 5,900 SF renewable-energy facility at Rochelle Municipal Landfill #2. It includes a biological treatment system to clean the landfill gas and produce an elemental sulfur byproduct that can be used in high-grade fertilizer. The center will produce 42 megawatt hours a year, enough to power 4,000 homes.

Alter Group affiliate EnTrust Realty Advisors launched EnTrust Healthcare Properties to buy and manage MOBs and other healthcare assets around the country. It'll be headed by Raymond Braun and will acquire up to $100M a year, assembling and operating smaller portfolios and mid-cap assets. Raymond was previously president of McShane Medical Office Properties and has worked for CBRE and Great Lakes REIT. He has a bachelor's in finance from the University of Illinois at Urbana- Champaign and an associate's from the Institute of Aviation/University of Illinois. That aviation experience should help him save some dollars whenever he and wife Linda travel with their brood of four.


Ryan Moen was promoted to director for Bradford Allen. He joined the firm in '09 as an associate and is based in its West Suburban office. He has worked with Lexis Nexis, Walgreens, Sunny Ridge Family Center, and Cinch Connectors among others. Ryan has a bachelor's degree from the University of Illinois and previously worked for Tri-Land Properties.


Morgan/Harbour Construction hired Graeme Foster as senior project manager to manage the design/build firm's ground-u p projects. Graeme has 30 years of experience, including at IHC Construction, Weis Builders, and Pepper Construction. He has a bachelor's degree from Georgia Institute of Technology.


Alexander Olen has joined Principle Construction Corp as senior estimator. He has 25 years of experience and has also worked for UBM, Morrison Knudsen Corp, G.D. Searle, and Westwood College.