Glenstar Unveils Renderings For $25M Office Redevelopment: The Chicago Deal Sheet
Glenstar unveiled renderings of its $25M redevelopment of 200 South Wacker, a 40-story, Harry Weese-designed office tower.
The redevelopment will introduce an amenity experience spanning five levels of the 762K SF building. This includes a three-story lobby, a pair of golf simulators, a parlor gaming area, an enclosed library and a listening lounge.
The third floor will feature a new full-floor health and wellness club overlooking the river, with dedicated areas for free weights, strength and recovery training, cardio and a group fitness studio offering regularly programmed classes.
In addition to the renovated downstairs area, Glenstar is wrapping up construction on five move-in-ready spec suites totaling more than 52K SF to meet tenant demand for flexible space.
PEOPLE
Cushman & Wakefield hired Howard Caplan, Nick Saraceno and Steve Aaronson as directors in its Chicago brokerage team. Joining Cushman from CTK Chicago Partners, the trio brings decades of multidisciplinary experience to the firm. They will primarily focus on driving growth in the industrial sector.
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Clayco created a new leadership role, president of self-perform, and appointed Jason Mrozek to fill it. The move is designed to underscore the firm’s investment in self-perform construction. In the role, Mrozek will work with Clayco’s self-perform businesses across concrete, building enclosure, mechanical and electrical systems to enhance growth and operational performance across the enterprise.
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The Illinois Quantum and Microelectronics Park hired Lauren Wilson as its new chief operating officer to support the development and long-term operations of the park. In the role, Wilson will lead the development and management of IQMP’s physical, financial and organizational infrastructure while helping implement the park's strategic vision across facilities, tenant services and partnership programs.
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Cullinan Properties promoted Wayne Wozniak to chief financial officer. He will oversee financial operations, including accounting, tax strategy, financial reporting, forecasting and capital planning, while working closely with executive leadership to advance Cullinan’s strategic initiatives.
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Farbman Group hired Michael O’Malley as the firm’s new executive vice president of Illinois. Based out of the company's Chicago office, O’Malley will be responsible for driving the firm’s growth strategy, deepening relationships and expanding its full-service platform across Illinois.
SALES
Bender Cos. purchased Carriage Creek Apartments at 22501 Butterfield Road in Richton Park for $11.9M from local investor Daniel Kotcher, The Real Deal reported. The 226-unit tower traded for about $53K per unit and was built in two phases in 1972 and 1974. Marcus & Millichap’s Ryan Engle and Andrean Angelov brokered the deal.
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A machine shop purchased a 56K SF facility at 144-160 N. Lively Blvd. in Elk Grove Village. The property was sought after for its I-90 frontage, outdoor storage and future parking lot replacement. Entre Commercial Realty's Brad Bullington and Ian Pattison represented the buyer, while Matthews Real Estate represented the seller.
