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This Week's Chicago Deal Sheet

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NGKF director of Midwest operations Mike Gerard

NGKF has a new director of Midwest operations and he’s a familiar face to Chicago real estate pros.

Mike Gerard joined the firm as executive vice president and regional managing director. The 30-year industry veteran was most recently at CBRE, where he oversaw the global integration and growth of  its valuation and advisory services business line. Gerard will be responsible for NGKF’s operations in offices in Chicago, Ohio (Cincinnati, Columbus and Cleveland), Pennsylvania (Pittsburgh and Philadelphia) and Detroit, and focus on managing brokerage profitability, growth, development, strategic planning, recruiting and retention.

SALES

Illinois Science + Technology Park, Skokie, IL

American Landmark Properties acquired the Illinois Science + Technology Park at 4901 Searle Pkwy. in Skokie (shown) from Forest City Realty Trust, in a $77M deal. CBRE’s Scott Brandwein and David Saad were retained to market the property to tenants.

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STREAM Capital Partners’ Jonathan Wolfe and Jordan Shtulman repped the seller in the $10M sale/leaseback of a 90k SF net-lease Cermak Fresh Market at 1250 North Lake St. in Aurora.

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NAI Hiffman’s Perry Higa repped buyer Hengli America, and CBRE’s Traci Buckingham Payette and Jeff Kapcheck repped the seller in the acquisition of a 46k SF facility at 580 Crossroads in Bolingbrook. The building will serve as Hengli America’s U.S. HQ and its American testing and distribution facility.

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Stonegate Condominiums, Glendale Heights, IL

Rockwell Partners acquired a portfolio of 305 condos at Stonegate Condominiums (pictured) in Glendale Heights. Rockwell plans to make improvements to Stonegate's units, including kitchen, flooring and bathroom upgrades, and will serve as property manager.

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The Boulder Group’s Randy Goodman and Jimmy Blankstein repped both parties in the $1.1M sale of a single-tenant new construction Dollar General at 1107 North Santa Fe Ave. in Princeville, Ill.

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Essex Realty’s Abe Elian repped the seller in the $805k disposition of a six-unit apartment building at 4146-68 West Cornelia Ave. in Chicago. Essex’s Steve Livaditis and Joe Scheck repped the buyer.

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HFF’s Amy Sands, Clinton Mitchell and Barry Brown repped Miller Capital in the sale of The Shoppes at College Hills and The Plaza at College Hills, a 442k SF open-air regional retail center in Bloomington-Normal. The buyer was a JV of M&J Wilkow and ALTO Real Estate Funds. HFF’s Claudia Steeb arranged $13.8M in acquisition financing for the buyers.

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Quantum Real Estate Advisors’ Jason Caplan repped the buyer in the $2.3M sale of a 35k SF single-tenant, net-lease property at 1331 Greenleaf Ave. in Elk Grove Village.

LEASES

Bradley Business Center, Chicago

Hansen Realty’s Brett Berlin signed leases with Power Home Remodeling Group, Windy City Ninjas and Doctors Plastic Surgery at Bradley Business Center, 2500 West Bradley Place (pictured). The leases push Bradley Business Center’s occupancy rate over 90%.

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NAI Hiffman’s Brian Colson and Brandon Waters repped the landlord in a 39k SF lease with United Transportation at 170-200 Thorndale Ave. in Bensenville.

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Baum Realty’s Allen Joffe and Nicole Cardot repped McAllister’s Deli in finding homes at the following locations:

  • 663 Lake Cook Road
  • Deerfield Richport Plaza, 1120 South Randall Road
  • Elgin Gateway Shopping Center, 14301 South LaGrange Road, Orland Park
  • Algonquin Place, 234 Randall Road, Algonquin
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Presidents Plaza, Chicago, IL
Presidents Plaza, Chicago

Cushman & Wakefield’s Chris Wood and Scott Goldman repped True Value in its 125k SF lease renewal at Presidents Plaza, 8600 West Bryn Mawr Ave. (shown). GlenStar Properties’ David Trumpy repped ownership.

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First Western Properties completed the following leases:

  • First Western repped both parties in a seven-year, 2,100 SF lease for Sprint at 4700 North Kimball Ave. in Albany Park.
  • First Western repped both parties in a five-year lease for Mango Physical Therapy at 8742 North Shermer in Niles.

HIRES/PROMOTIONS

MB Real Estate named Kevin Purcell, a 20-year veteran at the firm, to serve as president of its leasing and management services division.

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Colliers International announced the following promotions:

  • Ryan Barr and Christopher Volkert were promoted to principal.
  • Brendan Green was promoted to senior vice president.
  • Jonathan Connor was promoted to vice president.
  • Susan Lehman was promoted to director of account management.
  • Linda McDonagh was promoted to senior property manager.
  • Kurt Nitschke, Josh Bernat and Melissa Huston were promoted to assistant property manager.
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CBRE made the following hires and promotions:

  • John Latessa was promoted to lead the firm’s Midwest division. Latessa will serve as division president and oversee 11 offices, including the region’s Chicago flagship office.
  • Senior vice presidents Whit Heitman and Sam Badger, first vice president Brad Weiner and vice president Jared Paff will lead its industrial and logistics leasing efforts in northern Illinois and southeast Wisconsin. Heitman, Badger and Weiner join CBRE from NAI Hiffman, while Paff was most recently at Transwestern.
  • Senior vice president Ryan Bain and first vice president Zach Graham joined CBRE’s national partners industrial investments team in Chicago.
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Quantum Real Estate Advisors hired Jason Caplan as senior vice president. Caplan was most recently at Sperry Van Ness.

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Peak Construction hired Jeff Musielewicz as project manager.

KUDOS

MB Real Estate senior vice president Krystal Kurinsky was awarded BOMA/Chicago’s Property Manager of the Year award during BOMA/Chicago’s awards dinner Jan. 19 at the Chicago Hyatt Regency Hotel.

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Avison Young was awarded the exclusive sale listing for two medical office buildings, totaling 36k SF at 11824 Southwest Hwy. in Palos Heights, and 16105 South LaGrange Road in Orland Park. The Orland Park building is offered as a sale-leaseback. Erik Foster and Mike Wilson are working with Chip Ryan and Jim Kornick from the Washington, DC, office on both transactions.