This Week's Chicago Deal Sheet
333 South Wabash is losing its anchor tenant and namesake, insurance giant CNA, when the company relocates to the under-construction 151 North Franklin next year. Last week, "Big Red" gained a new anchor tenant and a new name.
Northern Trust signed a 462K SF lease at the 1.1M SF tower, which The John Buck Co. bought in a $108M deal last year. The financial services company will move some of its staff there starting in 2020. The lease comes with naming rights and the option to expand its footprint to 750K SF. CNA currently occupies 762K SF.
CBRE's Todd Lippman, Todd Doney, James Whalen, Maura Mahoney and Scott Brandwein repped Northern Trust. NKF's Bill Rolander and Jon Cordell repped John Buck and its partner, Morgan Stanley.
SALES
The Boulder Group completed the following transactions:
- Randy Blankstein and Jimmy Goodman repped the seller in the $3M sale of a single-tenant, net-leased Goodwill at 1715 Wisconsin Ave. in Grafton, Wisconsin.
- Randy Blankstein and John Feeney repped the seller in the $18M sale of a single-tenant net-leased Pick 'n Save at 2518 West Washington in West Bend, Wisconsin.
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Wicker Park Apartments' Mark Sutherland completed the $681K acquisition of 1512 North Ashland Ave. in Wicker Park. The mixed-use building contains four apartments and street-level retail.
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NAI Hiffman's Adam Johnson repped the seller, Old Second National Bank, and Club Group's Karl Kalas repped Board of Education Community Unit School District No. 308, in the acquisition of 1008 Douglas Road in Oswego.
LEASES
JLL's Kerry Gilar and Bill Rogers repped Spaces, and SVN | Chicago Commercial's Chad Schroedl repped Newcastle Limited, in a 27K SF lease at 1500 North Halsted. Spaces, an Amsterdam-based creative workspace firm, will open Spaces Lincoln Park on the second, third and fourth floors beginning in early 2018.
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Duke Realty completed the following leases, totaling 475K SF in the I-55, Central DuPage and O'Hare submarkets:
- NAI Hiffman's Mark Moran and Stephen Connolly repped Duke Realty, and Cushman & Wakefield's Jason West repped Unipart Logistics in a 126K SF lease at Crossroads 2 at 2 Gateway Court in Bolingbrook.
- Colliers International's Brian Kling and Reed Adler repped Duke Realty and Grunt Style in a 111K SF lease at 640 Center Ave. in Carol Stream.
- Korman/Lederer's Harley Korman repped Champion Transportation Services in a 238K SF lease renewal at 200 Champion Way in Northlake.
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CBRE's Amira Yunis, Todd Siegel and Phil Golding repped Joe & the Juice in leases at 10 East Delaware, 412 North Wells and 8 East Huron. These will be the Denmark-based retailer's first Chicago, and Midwestern, locations.
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NAI Hiffman's Joe Bronson and Alex Sutterer repped G Furniture in a new 36K SF lease at 5420 West Roosevelt Road.
HIRES/PROMOTIONS
Cushman & Wakefield announced the following hires:
- Greg Swanberg was hired as senior managing director. Swanberg will lead the firm's technical solutions practice.
- Adam Tyler was hired as managing director of the firm's industrial capital markets practice.
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Morgan/Harbour Construction hired Craig Tolan as senior project manager. Tolan has been involved with such projects as Edward Hospital Cancer Center in Naperville; Delnor Medical Office Building on the campus of Delnor Hospital in Geneva; Children’s Memorial Hospital Medical Center in Chicago; Covenant Village Memory Care in Northbrook; Max Palevski Residence Hall for the University of Chicago; Patriot Commons condominiums in Glenview; and Village Center Senior Apartments in Skokie.
KUDOS
J.C. Anderson completed a phased office expansion and renovation for Sagent Pharmaceuticals at 1901 North Roselle Road in Schaumburg. Joe Maguire was the project executive and Joe Rojas was the superintendent. Architectural services were provided by Partners by Design.
