This Week's Chicago Deal Sheet
Call NGKF executive managing director Geoff Kasselman "Mr. President." Geoff was installed as global president of the Society of Industrial and Office Realtors during the group's fall world conference in New York City.
Geoff and the SIOR board of directors celebrated by ringing in the trading day at the New York Stock Exchange on Oct. 19 (pictured). In his 30-year career, Geoff has completed over 1,000 projects valued at over $1B. As the founder and CEO of Op2Mize, Geoff worked to mesh efficient energy practices and technology with real estate services. In his role at NGKF, Geoff is expanding the firm's North American industrial portfolio, with a specific focus on the fast-growing sector of data center real estate.
Avison Young’s Erik Foster, Mike Wilson and Nick Esposito repped LV2 Equity Partners in its sale/leaseback of a 57k SF industrial building at 1310 Kingsland Drive in Batavia (pictured) to AIC Ventures.
CBRE’s Keely Polczynski repped El Cubano Wholesale Meats in its $14.5M sale of 914-26 West Fulton Market to L3 Capital.
Essex Realty’s Brian Mond repped both parties in the $500k sale of 4139 South Indiana Ave, a six-unit apartment building in Bronzeville.
Baum Realty Group's Greg Dietz and Danny Spitz repped the seller in the $2.5M sale of 1439 North Milwaukee, a mixed-use building in Wicker Park that includes five apartments and a storefront that is home to Taco Bell’s “cantina” concept (shown).
Inland Brokerage & Consulting completed the sale of four parcels at Harlem and Archer avenues in Garfield Ridge, which will be redeveloped into a retail center anchored by an Aldi supermarket.
NAI Hiffman completed the following transactions:
- Bruce Granger repped Ron Wellander and Carol Whitmore in the sale of 71 acres at 1501 West State St in Sycamore to an undisclosed buyer.
- Bruce Granger repped Mark and Susan Okkerse in the disposition of a 17k SF building at 3510 Merchandise Drive in Rockford, to Seabass Realty.
- John Cash and David Haigh, along with White Cube’s Tak O’Haru repped Sodick in its purchase of five acres in Schaumburg from Avanti Group, where Sodick will build its new North American HQ. Avanti Group was repped by Cushman & Wakefield’s Mike Magliano.
Interra Realty’s Jeremy Morton and Ted Stratman repped both parties in the $1.7M sale of a 14-unit multifamily asset at 1924 South Throop in Pilsen (pictured).
The Boulder Group completed the following transactions:
- Randy Blankstein and Jimmy Goodman repped both parties in the $1.3M sale of a Dollar General at 6292 US Route 77 in Riviera, TX.
- Randy Blankstein and John Feeney repped both parties in the $1.7M sale of a single-tenant new construction Dollar Tree at 1940 Main St in Green Bay, WI.
Jameson Commercial’s Ari Topper repped the seller in the $1.3M off-market disposition of a vacant site at 4406-22 North Pulaski Road. The buyer will develop a single-tenant restaurant building for a national developer.
HFF repped the sellers, R2 Cos and AIMS Real Estate Group, and procured the buyer, Shopoff Realty Investments, in the sale and financing of 900 North Franklin and 224 North Des Plaines, two creative office properties totaling 164k SF.
Transwestern’s Joe Stevens, Fred Ishler and Lindsay Borkan repped Transwestern Investment Group, and Darwin Realty’s Adam Haefner repped PLZ Aeroscience in its 24k SF HQ lease at Corridors I (shown) at 2651 Warrenville Road in Downers Grove.
RKF completed the following transactions:
- Steve Schwartz repped landlord 111 West Jackson Holdings, and The Lord Cos’ Landon Massel repped Muscle Maker Grill, in a 1,246 SF lease at 111 West Jackson. This will be Muscle Maker Grill’s first Chicago location.
- Steve Schwartz and Ross Modjeska repped landlord Bil-Mar Management, and ARCORE Real Estate Group’s John Maresh repped Club Pilates, in its 1,607 SF lease at 2037 North Clybourn in Lincoln Park.
NGKF’s Corey Chase repped the American Egg Board in its long-term, 9,600 SF HQ lease at O’Hare Plaza. The AEB is relocating to Chicago from 1460 Renaissance Drive in Park Ridge.
Savills Studley’s Christopher Tarzon repped Redfin, and JLL’s Dan Fernitz and Rick Benoy repped the landlord in Redfin’s 26k SF lease extension and expansion at O’Hare Plaza.
NAI Hiffman’s Bruce Granger repped Shopware in its 3,207 SF lease renewal at 2175 Point Blvd in Elgin. CBRE’s Mark Smith repped the landlord.
Calmwater Capital structured an $11.2M loan to The Prime Group to refinance an existing loan at 208 South LaSalle (pictured). The top five floors of the building are being converted into a hotel.
Berkadia’s Aaron Abelson repped Wicker Park Apartments’ Mark Sutherland in a $10M refinancing of 1515 West Haddon. The asset was 80% leased at the time of closing.
Inland Securities appointed Ronald Cole and Jeff Spah as VPs. The duo will serve as external wholesalers working in partnership with an Inland Securities internal wholesaler to build relationships with financial advisers. Ronald will be responsible for building networks in Connecticut, Massachusetts, Maine, Rhode Island, Vermont and New Hampshire. Jeff will oversee relationships in Minnesota, Iowa, North Carolina, South Dakota and Nebraska.
Podolsky|Circle CORFAC International was named the exclusive property management and leasing rep for the following assets:
- Metropolitan Square, a 105k SF shopping center across from the Des Plaines Metra station.
- 1040-1060 Sutton Road, an 18k SF retail center in Streamwood.
- Northwind Center, a 20k SF shopping center in Libertyville.
The Missner Group selected Cushman & Wakefield’s Jack McKinney Sr., Jack McKinney Jr. and Chris McKinney to market 1220 West Van Buren St, the former Oxxford Clothes HQ that Missner acquired and will redevelop into The Oxxford, a 115k SF loft office building.