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This Week's Chicago Deal Sheet

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Waterton has been busy recapitalizing its Chicago-area assets, a sign the firm is preparing for choppy waters in the multifamily sector.

River North Park, Chicago

In addition to refinancing Presidential Towers with a 10-year, $250M loan, Waterton sold a majority interest in River North Park, a 24-story, 400-unit apartment tower at 320 West Illinois St to Angelo, Gordon & Co. HFF’s Matthew Lawton and Sean Fogarty repped Waterton, while HFF’s Stephen Skok arranged a short-term, floating-rate acquisition loan on behalf of Angelo Gordon.

SALES

832-838 West Erie, Chicago

Essex Realty’s Jim Darrow and Jordan Gottlieb were the sole brokers in the $10.9M sale of a 20-unit apartment building at 832-838 West Erie St in River West.

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Draper and Kramer’s Kurt Warnke repped Foreman Real Property in the $573k sale of a former banquet hall at 6010-6022 West Grande Ave in the Austin neighborhood.

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Jameson Commercial’s Katie Whelan and Jameson Sotheby’s International Realty’s Karoline Whitaker repped The Lax Shop in the $1.4M sale of its Chicago location at 1216 West Belmont. Conlon Real Estate’s Tim Sheahan and Brendan O’Malley repped the buyer, Jenny Builders.

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CBRE Hotels’ Brian Silberman, Scott Miller and Stanley Wang repped the sellers in the following transactions:

  • Freeport Lodging sold a 66-room Country Inn & Suites at 1710 South Dirck Drive in Freeport, IL.
  • Lake Zurich, IL 1106 LLC sold an 86-room Holiday Inn Express & Suites at 197 South Rand Road in Lake Zurich.
  • S.E.R.B. sold a 63-room Super 8 at 2055 East 5th St in Metropolis, IL.
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4101 North Kedvale, Chicago

Interra Realty’s Joe Smazal repped both parties in the $2.5M sale of a 25-unit multifamily property at 4101 North Kedvale in Old Irving Park.

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Baum Realty’s Greg Dietz and Danny Spitz repped the seller in the $2.9M sale of a mixed-use building at 5531-39 North Clark St in Andersonville.

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Boxer Property acquired 155 North Pfingsten Road, a 119k SF office property in Deerfield. Brad Nichol negotiated for Boxer, expanding the firm’s Chicago portfolio to 783k SF.

LEASES

1300 North Arlington Heights Rd., Itasca, IL

Bradford Allen Realty Services’ Craig Nadborne repped Ajinomoto in its lease extension and expansion at 1300 North Arlington Heights Road in Itasca. Ajinomoto increased its footprint to 13k SF. The landlord, Hamilton Partners, was self-repped.

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Transwestern’s Terri Alexander repped Chicago Truck Parking in a 47-acre ground lease at 12300 New Ave in Lemont. Lee & Associates’ Tim McCahill and Brian Vanosky repped landlord Realterm Logistics.

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Union Pointe Business Park, Woodridge, IL

NGKF’s Brian Carroll and Jim Cummings repped landlord MetLife in a long-term, 122k SF lease with an undisclosed food and beverage company at Union Pointe Business Park, 9020 Murphy Road in Woodridge. The tenant was repped by CBRE’s Jason Lev and John Suerth. The lease brings Union Pointe’s occupancy rate to 100%.

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Colliers’ Corby Marx and Evan Djikas repped Aeris in an 18k SF, long-term lease at 435 North LaSalle. The landlord, Elmdale Partners, was repped by Cushman & Wakefield’s Andrea Saewitz and Benjamin Cleveland.

HIRES/PROMOTIONS

Inland Residential Properties Trust appointed Meredith Mendes as a member of the board of directors to fill the vacancy created by the passing of Donald Tolva on Oct. 9. Meredith, an executive director and COO of Jenner & Block, was unanimously appointed by the board as an independent director on Nov. 29. She was also appointed as a member of the nominating and corporate governance committee and a member of the audit committee.

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HFF hired Patrick Walker as a director. He joins HFF from Jefferies LoanCore, where he was a VP responsible for real estate debt originations for office, retail, multifamily, hotel, self-storage and industrial properties in the central US.

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Wicker Park Bucktown Chamber of Commerce appointed Pamela Maass as executive director. Pamela brings 10 years of business development, management, sales and customer service experience to the role, including serving as WPBCC’s board president since January. She comes to WPBCC from Chicago Athletic Clubs, where she doubled the number of the company’s locations to eight in eight years.

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ML Realty Partners promoted Sonya Majus to director. Sonya will oversee and negotiate loan transactions as well as the purchase and sale transaction process as a member of ML Realty’s finance and accounting team.

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CA Ventures promoted JJ Smith to president of CA Student Living, Ben Burke to president of CA Senior Living and Matt Booma to EVP of CA Senior Living.

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The Missner Group hired Angela Aeschliman as SVP of property and asset management. She’ll replace June McCrory, who is retiring after 25 years. Angela was previously COO at Watermark Property Management, where she was named Realtor of the Year for the NICAR local association.

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Mid-America Real Estate promoted Brian Adams, Greg Bayer and Willie Hoag to principal, and Peter Scannell to SVP. Brian, Willie and Peter are members of Mid-America’s tenant representation team. Greg is a member of Mid-America’s urban group.

KUDOS

Avison Young was awarded the leasing assignment for Pointe O’Hare, a 271k SF Class-A office at 9550 West Higgins Road in Rosemont. Eric Myers will lead the leasing efforts and oversee continued building enhancements.