This Week's Chicago Deal Sheet

Ascend Real Estate Group and Intercontinental Real Estate Corp. hosted a grand opening celebration on April 13 for Niche 905, an 18-story, 202-unit luxury apartment tower at 905 North Orleans. Representatives from each company were joined by more than 175 guests for the grand opening event, which included tours of the community’s convertibles, one- and two-bedroom model units, as well as the property’s amenity spaces.

Designed by Chicago-based FitzGerald Associates Architects with anticipated LEED certification, the boutique tower offers spacious convertible, one-, two- and three-bedroom apartments ranging from 576 SF to 1,518 SF. Pricing starts at $2K/month for convertibles, $2,435 for one-bedrooms, $3,665 for two-bedrooms and $6K for three-bedrooms. The convertible model was furnished by CORT Furniture, while Stanton Interior Concepts designed the one- and two-bedroom models.

SALES

CBRE’s David Prioletti repped Video Impressions in the disposition of an 18K SF industrial building at 2505 Diehl Road in Aurora, in White Oak Business Park. NGKF’s Corey Chase repped the buyer, Certified Laboratories, in the site selection and purchase. Certified Laboratories will relocate its Romeoville operations to the facility once cosmetic and functional improvements are completed this summer. 

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Jameson Commercial’s Ari Topper repped the buyer in the $1.3M purchase of a 34K SF industrial building at 641 East 108th St. in Pullman.

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Mid-America Real Estate’s Joe Girardi was the sole broker in the sale of Glenbrook Marketplace, a 61K SF shopping center at Willow and Pfingsten roads in Glenbrook that was purchased by Northpond Partners. The seller was Newport Capital Partners.

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SVN | Chicago Commercial’s Paul Cawthon and Angelo Labriola repped the seller in the $1.3M sale of a 10K SF development site at 1510-18 North Western Ave. in Bucktown. The site is being split into two separate four and a half story residential units with two duplex units on the first floor. The developer plans to provide four indoor and four outdoor parking spaces. Demolition of the buildings on the site is slated for mid-summer.

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The Boulder Group’s Randy Blankstein and Jimmy Goodman repped the seller in the $1.2M sale of a single tenant new construction Dollar General at 812 North Walnut St. in Avoca, Iowa. The store’s lease expires in October 2030. The absolute triple net lease features no landlord responsibilities and 10% rental escalations in each of the three five-year renewal option periods.

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First Western Properties’ Bradford Dessy repped an out-of-state buyer in the $4.8M sale of 2 Woodland Corporate Center, a 56K SF office flex building at 4951 Indiana Ave. in Lisle. Greenstone Partners’ Jason St. John repped the seller.

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Inland Real Estate Acquisitions’ Mark Cosenza facilitated the acquisition of Pentucket Shopping Center, a 199K SF shopping center in Plaistow, New Hampshire, on behalf of Inland Real Estate Income Trust.

LEASES

Lee & Associates’ John Sharpe and Cushman & Wakefield-Boerke Co.’s Terry McMahon repped landlord Ashley Capital, and The Dickman Co.’s TJ Huenerbein repped Buske Logistics in its lease expansion at Yorkville Business Center in Sturtevant, Wisconsin. Burke Logistics doubled its footprint to 150K SF.

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Brown Commercial Group’s Mike Antonelli repped Davey Tree in moving its primary Chicago office to 1375 East Woodfield Drive in Schaumburg from Wheeling, and moving a separate service location to 2727 Route 53 in Long Grove from Barrington. The Schaumburg space is owned by Woodfield Financial Center, which was repped by Transition Brokers’ Brandon Berger. The Long Grove location is owned by Pinnacle Capital 2727, which was repped by Avalon Realty’s Joseph and Carlo Santucci of Avalon Realty. The Schaumburg space is 4,063 SF. The Long Grove space is 7,500 SF.

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Duke Realty completed the following transactions:

• Susan Bergdoll and Michael Connor, along with JLL’s Trevor Ragsdale, negotiated a 71K SF lease with Mega Polymers at 1341-1343 Enterprise Drive, a 324K SF facility in Romeoville. The tenant was repped by Transwestern’s Terri Alexander.
• Casey Baird, along with Lee & Associates’ Nick Eboli, negotiated a 34K SF lease with Radiac Abrasives at 880 North Enterprise St., a 189K SF building in Aurora. The tenant was repped by JLL’s Dominic Carbonari.

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Bradford Allen’s Matt Wright completed the following transactions at the Lightner Building, 1006 South Michigan Ave., bringing the occupancy rate at the building to 93%:

• Wright successfully negotiated a new 10-year lease with Corvita Health & Associates for 5,200 SF on the fifth floor. Their first office in the Loop, Corvita will occupy the space in conjunction with its founder, Dr. Martin Burke, who will run his cardiology practice.
• Wright completed a new 3,835 SF, 11-year lease with BatesMeron Sweet Design, a full-service marketing and branding agency on the sixth floor. BatesMeron is relocating to 1006 South Michigan from River North and was repped by Tenant Advisory Group’s Diana Himmelstein.
• Wright signed Roots of Integrity, a Pilates and yoga training facility, to a 776 SF lease.

HIRES/PROMOTIONS

The Missner Group hired Steve Bulger as project superintendent. He will be responsible for job site operations on multiple projects, working with project managers, project engineers and other office-based staff to ensure that projects meet their defined economic and schedule goals.

KUDOS

Bentall Kennedy selected Transwestern to provide property management services at 100 North LaSalle and 29 North Wacker Drive. The assignments total more than 290K SF. Julia Raban and Katie Sakach will lead the management team.