This Week's Chicago Deal Sheet
The biggest deal of the past week belongs to Welbic Investments, which bought a 15-property industrial portfolio from Venture One Real Estate for a cool $50M.
The portfolio totals 900k SF, with buildings from suburban Alsip to Kenosha, WI, and home to 22 tenants. Welbic secured a $102M loan to finance the deal and refinance an additional 26 properties it already owned. Cushman & Wakefield’s Michael Tenteris and Jim Carpenter repped Venture One, while Darwin Realty’s Erin Cibula and Matthew Lewandowski worked with Angelic Real Estate’s Gabriel Silverstein, and Wells Fargo's Doug Banzuly, Keith Plummer and Paul Mokhatas to secure the financing.
Interra Realty completed the following transactions:
- Patrick Kennelly, James Clough and Joe Smazal repped both parties in the $740k sale of 1900 S 51st Ave, a 19-unit multifamily property in Cicero (shown).
- Craig Martin repped both parties in the $1.8M sale of 7427-39 N Winchester, a 20-unit multifamily property in Rogers Park.
- Patrick Kennelly repped both parties in the $1.1M sale of 428 S Scoville, a 10-unit apartment building in Oak Park.
Cushman & Wakefield’s Jason West and Sean Henrick repped Molto Properties in the disposition of a 575k SF industrial building at 3451 Chicago St in Joliet to Midwest Warehouse and Distribution System. HAS Commercial’s Timothy Thompson repped the buyer.
The Boulder Group’s Randy Blankstein and John Feeney repped the seller of a single tenant net-leased Dollop Coffee shop at 1000 N Damen in Chicago (pictured) for $405k.
CBRE’s Keely Polczynski repped Strategic Asset Associates in the $5M acquisition of 1132-1140 W Fulton Market, a 15k SF building in Ukrainian Village. The buyer plans to repurpose the building for retail use.
NGKF’s Adam Marshall repped Zilber Property Group in the acquisition of two lots totaling 17 acres at 2640 and 2650 Auto Mall Dr in Elgin. CBRE repped the seller.
Marcus & Millichap completed the following transactions:
- Scott Harris, Nick Hillard and Tami Andrew repped the seller, and James Walsh repped the buyer, of Highland Spring Condominiums (shown), a 76-unit multifamily development in Elgin, for $7.2M.
- Ryan Engle and Andrean Angelov repped the buyer, and Eric Bell repped the seller in the $870k sale of 10443 Natoma Ave, a 12-unit apartment building in Chicago Ridge.
- Austin Weisenbeck, Adrian Mendoza and Sean Sharko repped the seller of a Walgreens drugstore at 4745 W Belmont in Chicago.
SVN|Chicago Commercial completed the following transactions:
- Tim Franz repped both parties in the $1.6M sale of 2561-2593 Ogden Ave, a 12k SF retail shopping center in Downers Grove (pictured).
- Dawn Overstreet repped the seller, and Cody Doran repped the buyer of a 33-unit SRO building at 2611-15 N Sawyer in Chicago for $1.5M. This is the first SRO sold under the city’s new SRO ordinance.
Lee & Associates completed the following transactions:
- Rick Scardino and Michael Plumb repped seller Ridgestone Bank in the disposition of 5.3 acres at 1901 Roselle Rd in Schaumburg.
- Jeffrey Janda, James Planey and Michael Plumb repped Cabot Properties in the purchase of 940-942 W Thorndale Ave, a 46k SF industrial building in Itasca. Colliers’ Jay Kerley repped the seller, Itasca O’Hare.
First Western Properties’ Kellen Duggan and Paul Tsakiris repped both parties in a lease at 4835 N Austin in Chicago to a well-known restaurant group.
Lee & Associates completed the following leases:
- Tim Cahill and Brian Vanosky repped landlord Colony Capital in a 61k SF lease at 215 E 171st St in Harvey to KW Container Chicago.
- Nick Eboli repped tenant Jarvis Corp in a lease at 1950 Estes Ave in Elk Grove Village.
Wool Finance Partners arranged the following financing:
- Matt Lebenson secured a $2M, three-year, non-recourse loan for a single-tenant industrial property in the Fulton market district.
- Martin Siegel secured a $2.2M, 10-year, non-recourse loan for a 78k SF industrial building in Niles.
ASC’s Igor Zhizhin secured a $2M, 10-year, non-recourse loan for a co-op building in Jackson Heights, NY.
Kiser Group hired To-uyen Vo as director of marketing. To-uyen was previously a healthcare recruiter at Maxim Healthcare Services.
CBRE named VP Michael Kaider to its net lease property group.
NAI Hiffman was awarded the management of 100 N LaSalle by Sun Life Investment.