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This Week's Chicago Deal Sheet

Skender Construction completed two restaurant build-outs for Four Corners Tavern Group at 150 North Riverside. 

Porter Kitchen and Deck at 150 North Riverside, Chicago
Porter Kitchen & Deck at 150 North Riverside

The two eateries, Porter Kitchen & Deck and Small Cheval, total nearly 15K SF. Skender collaborated with Four Corners Tavern Group and design firms Box Studios, Studio K, ESD, Next Step Design food service consultants and Travis Sound Design to complete the restaurant construction.

SALES

Lee & Associates’ Mike Plumb and Mike Androwich represented the seller, RE Development Solutions, in the $4.7M sale of a fully leased, 57K SF industrial building at 712 North Central Ave. in Wood Dale. NAI Hiffman’s Kelly Disser and Michael Freitag represented the buyer, Bobeck Real Estate Co.

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Durand Plaza, Racine, Wisconsin
Durand Plaza, Racine, Wis.

Evergreen Real Estate Group acquired Durand Plaza, a 72-unit affordable senior and disabled housing community in Racine, Wisconsin. It will undergo a $2M renovation over the next six to nine months, and Evergreen is pursuing a 20-year extension of the property’s Section 8 housing assistance payment contract.

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Berkadia’s Alex Blagojevich, Brett Meizner and Michael Sullivan represented the seller, Maxus Realty Trust, in the sale of Province of Briarcliff, a 120-unit multifamily property in Kansas City, Missouri. Berkadia’s John Schorgl and Matt Schildwachter arranged financing on behalf of the buyer, Forum Real Estate Group.

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Mid-America Real Estate’s Ben Wineman and Pace Properties’ Scott Seyfried represented the seller, Kimco Realty, in the sale of North Point Shopping Center, a 155K SF shopping center in Joplin, Missouri, to Chase Properties.

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Essex Realty’s Jim Darrow and Jordan Gottlieb were the sole brokers in the $875K sale of 1932 North Bissell St., a three-flat graystone apartment building in Lincoln Park.

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5827 North Ridge Ave., Chicago
5827 North Ridge Ave., Chicago

Interra Realty completed the following transactions:

  • Craig Martin represented both parties in the $1.8M sale of a 17-unit multifamily property at 5827 North Ridge Ave. in Edgewater.
  • Joe Smazal and Dan Byrne represented both parties in the sale of a three-building, 19-unit portfolio in Hyde Park at 5430 South Drexel Ave., 1210 East Hyde Park Blvd. and 5124 South University Ave.

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Kudan Group completed the following transactions:

  • Jarrett Fradin facilitated the sale of Café Amano at 116 East Schiller St. in Elmhurst, to Livia Italian. The 5K SF restaurant is in the heart of downtown Elmhurst. Livia Italian plans to open a new restaurant in the space later this year.
  • Chad Severson represented the seller in the sale of Fortune Cookie at 570 North Smith Ave. in Palatine. Sakura Sushi will open its fourth location in the space next year.

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The Boulder Group completed the following transactions:

  • Randy Blankstein and Asher Wenig represented the seller in the $588K sale of a single-tenant, net-leased Dollar General at 405 Broadway Ave. in Roxana, Illinois.
  • Randy Blankstein and Jimmy Goodman represented both parties in the $1.6M sale of a single-tenant, net-leased Arby’s at 15195 East Twelve Mile Road in Roseville, Michigan.
  • Randy Blankstein and Jimmy Goodman represented the seller in the $2.1M sale of a single-tenant, net-leased DentalWorks at 4405 Fox Valley Center Drive in Aurora.

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Kiser Group completed the following transactions:

  • Michael D’Agostino brokered a $1.5M sale of a 13-unit apartment building at 4935-39 West Hull St. in Skokie.
  • Matt Halper brokered a $1.5M sale of a 16-unit apartment building at 3249 Kenilworth Ave. in Berwyn.

LEASES

Butterfield Office Plaza, Oak Brook, Illinois
Butterfield Office Plaza, Oak Brook

Denholtz Associates completed two leases at Butterfield Office Plaza in Oak Brook. Denholtz signed a 7,187 SF lease with The Rubicon Group, and a 4,362 SF lease with Clutch Global Logistics.

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CBRE’s John Hanley, Terry Busch and Jared Scaringe represented HSA Commercial Real Estate in a 78K SF lease expansion with Kuehne + Nagel at Gateway Business Park in Plainfield, Indiana. Kuehne + Nagel signed a 56K SF lease in June, and now occupies 134K SF.

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Kudan Group’s Jarrett Fradin represented the landlord in a lease at 825 South State St. in the South Loop. Pazzo’s will open its second location in the space later this year.

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The Missner Group’s Angela Aeschliman completed two leases at Touhy Industrial Plaza, 500 East Touhy Ave. in Des Plaines. In the first transaction, Evo Coin Services signed a 10K SF lease, and was represented by Colliers International’s John D’Orazio. In the second lease, Stanco Welder & Machinery renewed its 7,778 SF lease at the property, which the company has called home for 30 years. The tenant was self-represented.

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First Western Properties’ Marion Abramiuk and Laryssa Moros represented both parties in a 2,575 SF lease with NovaCare Rehabilitation at 4008 North Cicero Ave., in the Six Corners business district of Cicero and Milwaukee avenues and Irving Park Road.

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Gateway Business Park, Plainfield, Indiana
Gateway Business Park, Plainfield, Ind.

HSA Commercial Real Estate’s Tim Thompson represented ownership in a 98K SF lease with Eagle Foods at Delany Commerce Center in Waukegan, bringing the 219K SF building to full occupancy. Lowenbaum REP’s Ed Lowenbaum represented the tenant.

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Darwin Realty’s Brendan Sheahan represented the buyer in the acquisition of a 122K SF industrial facility at 9710 Park Davis Drive in Indianapolis. JLL’s Chip Barnes and Brian Buschuk represented the seller, Pinchal & Co.

CONSTRUCTION

The Missner Group completed a 38K SF headquarters renovation on behalf of Generation Brands at 7400 Linder Ave. in Skokie. The two-phase project included 19K SF of office renovations and the build-out of a 19K SF showroom. Kent Nepras was the project manager, Scott Nomellini served as the project superintendent and Dearborn Architects provided the architectural services.

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JDL Development celebrated the opening of SixForty North Wells, a new 250-unit apartment tower in River North. Currently 41% leased and 37% occupied, the 23-story building has 22 designer floor plans in studio, convertible, one-, two- and three-bedroom units, with rents ranging from $1,850/month to $5,820/month.

KUDOS

Podolsky Circle was recognized with multiple awards at CORFAC International’s Standards of Excellence Awards during the firm’s fall summit in Denver. Podolsky Circle was named a 2017 Platinum Level Standards of Excellence Award recipient by CORFAC International, and was one of only two firms to achieve Platinum recognition.

Principal John Homsher was recognized with the Charlie King MVP Award in recognition of his devotion and exceptional service to CORFAC International. Principal Adam Tarantur won the Olen Monsees Award, in recognition of exceptional service to the organization. The award is in memory of Olen Monsees, who was an iconic figure in the Kansas City real estate brokerage community.

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Inland Real Estate Group Senior Vice President of Governmental Relations Dan Wagner
Inland Real Estate Group Senior Vice President of Governmental Relations Dan Wagner

The Chicago Association of Realtors' past president, Inland Real Estate Group Senior Vice President of Governmental Relations Dan Wagner, was honored as Realtor of the Year at the group's 134th annual gala at the Radisson Blu Hotel.

Wagner is heavily involved in realtor government affairs efforts at the local, state and national levels. He has been an advocate for protecting 1031 exchanges and mortgage interest deduction. He served as the 2015-2016 president of CAR, 2016 commercial liaison for the National Association of Realtors and is the 2018 Illinois Realtors president-elect.

He is a past chairman of the Greater Oak Brook Chamber of Commerce, is actively involved with the Village of Oak Brook, and is a commissioner on the DuPage Airport Authority. In 2014, he received the Advocacy Award from the Illinois Park and Recreation Association for his work on behalf of special needs children in his community.