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This Week's Chicago Deal Sheet

NAI Hiffman is finding success in the suburbs these days. The firm recently added to its property management holdings in a big way.

500 Bond Street in Lincolnshire, IL

NAI Hiffman was awarded management of eight industrial buildings and one office totaling 2.8M SF by UBS Asset Management. The new assignments include: 9200 and 9500-9550 West 55th St in McCook; 558-618 Lamont Road in Elmhurst; 1350 Shore Road in Naperville; 7220-7435 Santa Fe Drive in Hodgkins; 1135 Arbor Drive in Romeoville; 500 Bond St in Lincolnshire (pictured); 101 Centerpoint Drive in Rochelle; 26525 North Riverwoods in Mettawa; and a 2.5-acre land site along Busch Parkway in Buffalo Grove.

NAI Hiffman was also retained by Transwestern Investment Group to manage and lease 7400 Richards Road in Bridgeview and 5100 West 123rd St in Alsip. The two buildings are in the South Cook submarket and total 627k SF of industrial space.

SALES

1000 West Washington Boulevard, Chicago, IL

Baum Realty’s Danny Spitz and Greg Dietz repped the seller, a local developer, in the $7.3M sale of 1000 West Washington Blvd (shown) to a JV of R2 Cos and Marc Realty Capital. Baum brokers Doug Renner and Trevor Jack were retained by the new owners to identify prospective tenants for the vacant suites.

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The Boulder Group’s Randy Goodman and Jimmy Blankstein repped the seller in the $6.3M sale of a single-tenant LabCorp office property at 150 Spring Lake Drive in Itasca. The 40k SF building is within Spring Lake Business Park.

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Kudan Group completed the following transactions:

  • Scott Reinish was the sole broker in the sale of 2913 North Lincoln Ave in Lakeview. The investment property includes a bar on the ground floor and an apartment on the second floor.
  • Juan Carlos Gomez and Jerrod Rosen were the sole brokers in the sale of Addis Abeba Restaurant at 1322 Chicago Ave in Evanston. The buyers, Jacqueline Dao and Huy Dang, will bring a Cajun-style, Asian-influenced seafood boil to the space.

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CBRE’s George Good repped CBL & Associate Properties in selling The Lakes Mall in Muskegon, MI, and Fashion Square Mall in Saginaw, MI, to a JV of Mason Asset Management and Namdar Realty Group. The two shopping centers comprise 703k SF.

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3507-11 North Elston Avenue, Chicago, IL

Essex Realty completed the following transactions:

  • Matt Welke was the sole broker in the $3.2M sale of 3507-11 North Elston Ave, a three-building, 12-unit multifamily property in Avondale (pictured).
  • Matt Welke repped the seller and Doug Fisher repped the buyer in the $4.2M sale of 1914-1924 West Morse Ave, a classic courtyard building with 39 apartments in Rogers Park.

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SVN | Chicago Commercial completed the following transactions:

  • Reid Bennett repped the seller and Cody Doran repped the buyer of a 60-unit multifamily building at 935 North Main St in Rockford.
  • Jason Caplan repped the buyer in the acquisition of a 40k SF industrial facility at 150 Spring Lake Drive in Itasca.

LEASES

BridgePoint Northlake, Northlake, IL

NGKF’s Corey Chase and Kyle McKechnie repped confectioner Fannie May in a long-term, 78k SF lease at Bridge Point Northlake, a 55-acre business park in Northlake owned by Bridge Development Partners and Hunt Realty Investments.

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Millennium Properties’ Greg Block and Chad Evans leased an 1,800 SF retail storefront at 2401 North Clybourn Ave in Lincoln Park to Domino’s Pizza.

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Transwestern’s Tom Boyle and Jared Paff repped Design Phase in its 48k SF lease at Amhurst II, a 168k SF industrial facility in the Amhurst Lake Business Park in Waukegan. Design Phase will use the space as an extension of its HQ.

HIRES/PROMOTIONS

Kerry Middleton joined CBRE’s investor leasing team in Chicago. Kerry comes from The John Buck Co, where she leased and marketed over 2M SF of commercial assets in downtown Chicago.

KUDOS

@properties was named “Most Innovative Brokerage” at the 2016 Inman Innovation Awards in San Francisco.