This Week's Chicago Deal Sheet
Fifield Realty Corp. capitalized on the demand for luxury apartments in the north suburbs with E2 apartments in downtown Evanston. The two-building development is now home to some funky public art.
Fifield unveiled a new mural along the south facade of the building by local artist Thomas Melvin. Titled “Eee-tu,” the mural features a modern design that offers a broad portrait of downtown Evanston, and Melvin said the artwork turns the once dreary alley into a welcome destination. Melvin’s work can also be seen at the Peggy Notebaert Nature Museum in Lincoln Park and inside the Lake Forest Library.
Marcus & Millichap completed the following transactions:
- Scott Harris represented the buyer, and Ryan Engle and Andrean Angelov represented the seller in the $11.3M sale of Cook Apartments, an 86-unit multifamily property in Libertyville.
- John Abuja and Michael Lawrence represented Siemens Corp. in the $4.2M sale of a 39K SF building at 585 Slawin Court in Mount Prospect’s Kensington Business Center. The building is fully leased through October 2021 to Siemens Real Estate, a Siemens affiliate.
The Boulder Group’s Randy Blankstein and Jimmy Goodman represented the seller in the $7M sale of an 18K SF single-tenant, net-leased Walgreens property at 4745 West Belmont Ave. in Chicago.
Interra Realty’s James Clough represented the seller, Vijulima, in the $4M sale of a three-property multifamily portfolio at 156 Division St. in Elgin, 126 South First St. in Rockford and 215 South Galena in Dixon. The properties total 112 units.
CBRE Hotels’ Nate Sahn represented Hospitality Properties Trust in the sale of a 143-room Country Inn & Suites at 1837 Centre Point Circle in Naperville. The buyers are planning a renovation of the hotel.
NKF’s Sergio Chapa and Mike Prost represented the seller of a 55K SF industrial building at 3300 16th St. in Zion, to Venture One Real Estate. Venture One retained Chapa and Prost to market the property to prospective tenants.
Lee & Associates’ Walter Murphy represented the buyer, and CBRE’s Ted Buenger, Jeff Barret and Larry Johnson represented the seller, court-appointed receiver Michael Richwine, in the sale of two industrial buildings totaling 80K SF at 8450-8500 West 191st St. in Mokena.
Windy City RE’s Milan Rubenstein was the sole broker in the $1.4M sale of a six-unit apartment building at 1525 West 17th St. in Pilsen.
JLL’s Nikki Kern and Kim Doyle represented ownership, and CBRE’s Cal Wessman and Brad Serot represented Fifth Third Bank in a 145K SF lease renewal at 222 South Riverside Plaza. It is the second major lease renewal at 222 South Riverside since ownership invested $50M to renovate the 40-story building inside and outside.
NAI Hiffman’s Brian Edgerton and Mike Van Zandt represented Travelers Insurance in three lease transactions at Butterfield Centre, a 271K SF office complex at 700 and 720 Butterfield Road in Lombard.
- Strategic Capital Investment Advisors signed a lease expansion and will now occupy 4,822 SF.
- Explorer Market Research Corp. signed a new 7,604 SF lease and was represented by the J. Rich Co.’s Jason Schultz.
- Performance Services leased 7,361 SF and was represented by Tenant Advisors’ David Ven Horst.
Metro Commercial Real Estate completed the following transactions:
- Nathan Tonnies represented the landlord, WCT Properties, in leasing 1.7 acres to Portillo’s Hot Dogs at 4412 Rockwood Drive in Peoria.
- Larry Kling represented Orangetheory Fitness in a 3,201 SF lease at Briar Gate in South Elgin, the 13th Orangetheory Fitness opening in the Chicago area this year.
- Larry Kling represented European Wax Center in a 1,100 SF lease at Yorktown Center in Lombard.
ML Realty Partners’ Patrick Shannon completed a lease with Windy City Wire Cable and Technology Products in a lease renewal and expansion at 386 Internationale Drive in Bolingbrook. The tenant now fully occupies the 248K SF building.
Cushman & Wakefield’s Teddy Walsh, Lenora Adds and Andrea Saewitz repped Dayton Street Partners in three leases totaling 19K SF at 1500 West Carroll Ave. in Fulton Market West. Limitless Coffee leased 9,450 SF, Neato Agency leased 6,350 SF and Breather leased 3,100 SF. The leases account for nearly half of 1500 West Carroll’s leasable footprint. Dayton Street plans to develop another 30K SF building on an adjacent lot.
Paine Wetzel TCN Worldwide’s Phil Reiff Sr. and Phil Reiff represented the tenants in four leases in the O’Hare submarket:
- The Reiffs represented Legacy Foods Manufacturing in a 51K SF lease at 1550 Greenleaf Ave. in Elk Grove Village, doubling Legacy’s production capacity. The landlord, Prologis, was represented by Darwin Realty.
- Highlander Transportation leased 29K SF at 1300 Lunt Ave. in Elk Grove Village. The landlord, Gullo International Development, was self-represented.
- Midwest Solutions leased 23K SF at 1250 Greenbriar in Addison. The landlord, Hamilton Partners, was self-represented.
- J&H Fulfillment leased 46K SF at 4136 United Parkway in Schiller Park. This is J&H’s second expansion in the last three years. The landlord, Prologis, was represented by Cushman & Wakefield.
Avison Young hired Leonard Turelli as senior vice president and Chad Bermingham as vice president in the firm’s Chicago tenant representation practice. Turelli and Bermingham come to AY from Cresa Chicago.
Draper and Kramer Assistant Vice President of Condo Management Services Marla Jackson was appointed to the Illinois Department of Financial and Professional Regulation’s Community Association Manager Licensing and Disciplinary Board by Gov. Bruce Rauner. Jackson’s appointment is effective immediately and will continue through December 2020.
MB Real Estate reached an agreement with HNA Property Holdings to continue as the leasing and management company for 181 West Madison. MBRE will also expand its footprint within the building with a 13K SF lease expansion. MBRE will now occupy 31K SF.
The University of Chicago’s Campus North Residential Commons has won three awards from the Design-Build Institute of America, including the first-ever Chairman’s Award for Community Impact and Social Responsibility. The university’s first major design-build project was one of two recipients of this new honor and also won awards for merit and excellence in design.
Iris Construction completed the build-out of a 10K SF Sky Bounce children’s party facility in Lake Barrington.