This Week's Chicago Deal Sheet
Hackman Capital Partners entered the Chicago real estate market with a bang. The Los Angeles-based company yesterday confirmed the purchase of a 907k SF industrial real estate portfolio, consisting of six buildings centered near O’Hare and Midway International Airports.
The portfolio, which includes 11939 S Central in Alsip (pictured) was 89% occupied at the time of the closing. Five of the buildings are multi-tenant. Hackman Capital’s Midwest presence represents approximately 7M SF of the company’s 25M SF total assets. The majority of those Midwestern properties are centered in Michigan and Ohio, with 68 buildings and 255 tenant spaces. CBRE's Michael Caprile, Ted Staszak and Stephanie Park repped the seller. Hackman Capital has retained CBRE’s Pete Roberson and Larry Johnson and Lee & Associates’ Kenneth Franzese to market the available space, and Colliers was retained as property manager.
Avison Young's Erik Foster, Mike Wilson, John Hauser, Michael Fonda and Hugh Williams repped seller Ashley Capital in the disposition of a two-building, 287k SF portfolio with adjacent land at 1755-1795 N Butterfield Rd in Libertyville (shown) to STAG Industrial.
Avison Young's Keith Puritz, Brett Kroner and Eric Fischer repped both parties in the sale of Meyer Farm, a 63-acre site in Libertyville that will become a new industrial park zoned for 50k to 500k SF buildings. The AY team will market the new park.
NAI Hiffman’s Joe Bronson and Howard Bergdoll repped both parties in the sale of 3325 Mt Prospect Rd in Franklin Park. Centurion Service Group bought the property from a private seller.
The Boulder Group's Randy Blankstein and Jimmy Goodman repped the seller of a Physicians Immediate Care at 6140 N Broadway in Chicago, for $2.3M.
Quantum Real Estate Advisors’ Chad Firsel brokered the $905k sale of a single-tenant retail building at 9520 S Jeffrey Blvd in Chicago.
@properties Commercial brokered the following closings:
- Dan Stratis and Mike Rourke repped the seller and Ryan Hanley repped the buyer in the $1M sale of 6,800 SF of restaurant space at 2434 W Montrose.
- Dan Stratis repped a private seller in the $4.4M sale of a 28-unit apartment building at 4440-48 N Western (shown). Hunter Properties’ Jurgen Frank repped the buyer.
- Dave Urbaniak repped the buyer of a 26-unit apartment building at 8212-20 S Drexel for $880k. The Anton Agency’s Jim Samuelson repped the seller.
- Kevin Rocio repped the buyer of a 12k SF warehouse at 1133 W Randolph for $3.3M. RE/MAX Dynasty’s Vickie Soupos repped the seller.
- Kevin Rocio repped the seller in the $2.3M sale of the Bijou Theater building at 1349 N Wells. CONLON’s Mark Icuss repped the buyer.
- Kevin Rocio repped the buyer of a nine-unit apartment building at 214 S Myrtle Ave in Villa Park for $664k. The Kiser Group’s Mark McCann repped the seller.
- Kevin Rocio repped both parties in the sale of a 13-unit apartment building at 2453 W Marquette Rd for $475k. Kevin also repped the same buyer in the acquisition of an eight-unit apartment building at 2524 W Marquette Rd for $300k. Chicago Real Estate Resources’ Nathan Gautsche repped the seller.
Kudan Group completed the following sales:
- Jarrett Fradin repped Four Corners Group in the sale of Brownstone Tavern at 3937 N Lincoln. Sperry Van Ness’ Marcus Sullivan repped the buyer, Adam Sherman, who owns Newport Bar and Grill and will keep Brownstone Tavern open.
- Jarrett Fradin facilitated the sale of the former Piano Man tavern at 3801 N Clark St. The buyers plan to open a BBQ restaurant in the 4,500 SF space in time for the Cubs’ season opener.
- Juan Carlo Gomez and Jerrod Rosen completed the sale of Greek Fire Grill at 1625 Chicago Ave in Evanston. A new restaurant, La Cocinita, will open there next month.
- Adam Salamon repped both parties in the sale of Grand River Bar & Grill at 3032 N Lincoln Ave.
First Western Properties’ Paul Tsakiris, Thor Madden and Mark Zeglen repped the seller of 6346 S California Ave, a 10-unit multifamily building in Chicago.
First Western Properties’ Paul Tsakiris, Thor Madden and Mark Zeglen repped both parties in the sale of 5955 S Sacramento, a 13-unit multifamily building in Chicago.
Bradford Allen’s Julie Lane repped Brandtrust in a long-term 8,326 SF lease at 444 N Michigan Ave (shown). Brandtrust will move to the building’s 31st floor from its HQ at 875 N Michigan. The Telos Group’s Emily Marquardt repped ownership.
NAI Hiffman’s Kelly Disser repped Union Pipe and Steel in its 100k SF lease renewal at 1001 Hurricane St in Franklin, IN. NAI Meridan’s Kyle Powell assisted.
Advocate Commercial Real Estate Advisors' Craig Braham and CBRE's Todd Lippman and Bill Sheehy repped Clark Hill in the lease of 72k SF at 130 E Randolph St (pictured). The Telos Group's William Truszkowski, Matthew Pistorio and Caroline Colnon repped ownership.
First Western Properties’ Paul Tsakiris, Marion Abramiuk and Laryssa Moros repped both parties in the 1,280 SF lease of a storefront at 4327 W Irving Park Rd to FH Paschen Construction.
Cushman & Wakefield added Jonathan Metzl and Brian Chernett to the Chicago tenant rep team. Jonathan spent the past 13 years at Savills Studley, specializing in suburban markets. Brian comes to C&W from JLL, where he won NAIOP's Office Lease of the Year award in 2011.
Steve Levitas joined NGKF as vice chairman. Steve previously was principal at Colliers International and spent the past 10 years specializing in tenant rep and occupier services. His real estate career began in 1998 with The John Buck Co’s Strategic Advisory Group, where he developed extensive knowledge in developer pro-forma construction and financing requirements.
NGKF announced the hiring of Bob Chodos as executive vice chairman. Prior to joining NGKF, Bob was a principal and executive vice chairman at Colliers.
Brennan Investment Group hired Chris Massey as SVP of acquisitions. A 20-year veteran, Chris previously was responsible for sourcing and analyzing approximately $250M of office, retail, industrial and multifamily assets for Magnolia Partners. He was also managing director of Gladstone Commercial, where he acquired over $180M of single-tenant office and industrial assets encompassing 1.9M SF throughout the eastern half of the United States and Canada.
The 19-story Residences at NEWCITY tower has earned LEED Gold from the USGBC. The rental tower is the 199-unit residential portion of the 8.5-acre mixed-use NEWCITY development along the Clybourn Corridor.