Related Midwest Starts Glass Curtain Wall Installation At Former Spire Site: The Chicago Deal Sheet
Installation began this month on the 362K SF glass curtain wall at 400 Lake Shore, Related Midwest’s 72-story residential tower on the site of the failed Chicago Spire project.
The building’s facade will rise to 857 feet and was fully designed, fabricated and assembled at New Hudson Facades' facility just outside Philadelphia. The bay window units are engineered with glazed-in vent assemblies, giving residents direct access to fresh air.
The Spire hole is now filled, and a new floor of concrete is poured every three days. The tower is rising rapidly, recently reaching about 22 of its planned 72 floors. The north tower will ultimately deliver 635 new apartments, with initial occupancy expected in 2027.
400 Lake Shore, the tallest tower under construction in the city, is being developed by Related Midwest in collaboration with LR Contracting and Bowa Construction.
PEOPLE
Leopardo Construction added Bethanie Smith to its team as director of business development for the national healthcare market. Smith comes to the company with more than 15 years of experience and will play a key role in driving growth and expanding Leopardo’s relationships in core markets on a national level.
The firm also promoted Jeff Sauline to vice president of hospitality. Sauline will lead Leopardo’s growing portfolio of hospitality projects. He has 24 years of experience in the construction industry and has worked for more than 10 years at Leopardo.
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Peak Construction Corp. promoted six employees: Jim Faber to director of field operations, Ilana Reznik and Liam Thickett to project manager II, Arthur Bednarczyk and Kyle Musika to project manager I, and Steve Chiolan to superintendent I.
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Inland Securities Corp. made two new hires and one promotion. The new hires are Matthew Hannan, senior vice president and external wholesaler for the South-Southwest territory, and Josh Van Hecke, senior vice president and external wholesaler for the Plains territory. The company also promoted Sara Ingersoll to senior vice president and investment product manager.
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Entre Commercial Realty launched Entre Retail and hired retail broker Corey Laktas to head up the division. Laktas joins the company after 10 years with a family office that owns and operates more than 600 retail locations totaling more than 6M SF in 22 states.
SALES
Interra Realty facilitated the sale of two multifamily buildings on the Northwest Side of Chicago. The eight-unit 3913 N. Central Ave. in Portage Park sold for $1.4M, and the nine-unit 4255 N. Neva Ave. in Norridge sold for $1.4M.
Interra's Patrick Kennelly, Paul Waterloo and Nathan Zito represented the private seller and confidential buyer of the Portage Park property. The trio also represented an undisclosed local partnership in the Norridge acquisition. Re/Max Legends' Richard Dawidiuk represented the private seller.
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An undisclosed buyer purchased an industrial multitenant building at 725 N. Central Ave. in Wood Dale. The 18K SF building sits on nearly 0.9 acres and comes equipped with five drive-in doors. Entre Commercial Realty's Brad Bullington represented the buyer, while GC Realty's Bryan Sonn represented the seller in the deal.
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3 Flat acquired a 40K SF industrial building at 185 Industrial Drive in Elmhurst for an undisclosed price. DarwinPW Realty/CORFAC International's George Cibula, Dan Prendergast and Luke Ferzacca represented the buyer and are marketing the building for lease.
LEASES
Grove Biopharma signed a 17K SF lease for its headquarters and research and development lab at 400 N. Aberdeen St. in Fulton Market. CBRE's Dan Lyne represented Trammell Crow Co., while Cushman & Wakefield's Jonathan Metzl and Chip Evans represented Grove Biopharma.
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Simoniz USA signed an 18K SF lease renewal at 1109 Windham Parkway in Romeoville. Lee & Associates’ Jeff Galante represented Simoniz USA, while building owner Prologis represented itself.
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An unnamed Fortune 100 aerospace company signed a 36K SF lease at Libertyville 45 Corporate Center in Libertyville. Cushman & Wakefield’s Keith Puritz, Marc Samuels, Brett Kroner and Eric Fischer were the sole brokers in the transaction. This is the first tenant at the new speculative development, which delivered this year.
CONSTRUCTION AND DEVELOPMENT
Bradford Allen and development partner Moceri + Roszak topped off the initial phase of Arlington Gateway, a master-planned community in Arlington Heights. Arlington Gateway’s first phase consists of an eight-story, 301-unit multifamily building with 26K SF of ground-floor retail space.
THIS AND THAT
The 37th Annual Chicago Commercial Real Estate Awards dinner raised $1.1M for the Greater Chicago Food Depository. Nearly 1,600 of Chicago’s commercial real estate professionals gathered at the Salt Shed on April 23 for the event. Since the partnership began in 1989, the real estate industry has helped raise millions of dollars to support the fight against hunger.
