Contact Us
News

This Week's Chicago Deal Sheet

For most of Chicago's real estate community, the holiday break was simply another workweek full of deals to close and personnel shifts. Savills Studley had one of the biggest moves of the break. The firm hired George Kohl as executive vice president of operations for the Chicago region.

Lincoln Property Trust Vice President Bob Quast, Savills Studley Chief Operating Officer George Kohl and CBRE Director Michael Reilly
Lincoln Property Trust Vice President Bob Quast, Savills Studley Chief Operating Officer George Kohl and CBRE Director Michael Reilly

Kohl spent the last four years as Sterling Bay's chief operating officer. He was one of the key players in that firm's explosive growth, and its shift from an adaptive reuse specialist to a buyer of downtown trophy buildings. Under Kohl's watch, Sterling Bay acquired and repositioned the Gogo Building at 111 North Canal, Hillshire Brands' headquarters at 400 South Jefferson, 1K Fulton, the Ace Hotel Chicago and McDonald's new West Loop headquarters, and acquired 600 West Chicago Ave. and Prudential Plaza.

Kohl's résumé includes stints as a senior managing director at CBRE and a managing director at Trammell Crow.

SALES

Orchard Technology Center, Mundelein, Illinois
Orchard Technology Center, Mundelein

SVN | Chicago Commercial’s Michael Rudman, John Guill and John McDermott represented the buyer in the $2M sale of the Orchard Technology Center, a 60K SF mixed-use laboratory and office building at 900 East Orchard in Mundelein.

***

Essex Realty’s Brian Kochendorfer, Brian Karmowski and Troy Beebe were the sole brokers in the $1.1M sale of an 18-unit multifamily property at 7950 Ogden Ave. in Lyons.

***

Sean Connelly, managing director of 33 Realty, brokered the $6.4M sale of a 25-unit walk-up condo building at 4700-08 North Winchester and 1944-52 West Leland in the Ravenswood neighborhood. The condo association agreed to sell the building to a private buyer, who will deconvert the property into apartments.

***

The Boulder Group’s Randy Blankstein and Jimmy Goodman represented the seller in the $3.4M sale of two single-tenant, net-leased ATI Physical Therapy locations at 500 West Lake St. in Addison and 780 West Northwest Highway in Palatine.

***

Kudan Group’s Adam Salamon represented Gyro-Mena II in the sale of a retail storefront at 769 West Jackson Blvd. Sizzling Pot King will open in the space later this winter.

***

2128 North Halsted, Chicago
2128 North Halsted

Jameson Commercial Real Estate’s Brant Booker was the sole broker in the $3.6M sale of a three-unit mixed-use property at 2128 North Halsted in Lincoln Park.

***

Kiser Group completed the following transactions:

  • Luke Lesniewski was the sole broker in the $1.6M sale of a seven-unit apartment building at 5019 West Lawrence Ave. in Jefferson Park.
  • Noah Birk and Aaron Sklar brokered the $1.2M sale of a 31-unit apartment building at 7549 South Kingston Ave.
  • Lee Kiser and Rock Ofman represented the seller, and Michael D’Agostino and Stevens Haen represented the buyer, in the $1.2M sale of a six-unit apartment building at 5311-15 North Glenwood.

HIRES/PROMOTIONS

SmithGroupJJR promoted Carolina Lopez to vice president in the firm’s Chicago office. Lopez will continue her role as director of operations.

CONSTRUCTION

Levy Family Partners headquarters at River Point, 444 West Lake Street.
Levy Family Partners headquarters at River Point, 444 West Lake St.

J.C. Anderson completed a 20K SF office renovation for Levy Family Partners at River Point, 444 West Lake St. The project was led by Project Executive Anthony Douglas, Assistant Project Manager Adam Scheitel and Superintendent Mark Zawadka. Eastlake Studio provided architectural services and Kent Engineering provided engineering.

KUDOS

MB Real Estate Senior Vice President Orestes Ruffin received the Illinois Security Professionals Association award for security excellence in real estate management at the group’s 2017 awards gala. Ruffin is general manager of Maggie Daley Park.

***

NAIOP named Transwestern Development’s 1.5M SF General Mills project at RidgePort Logistics Center in Wilmington, Illinois, the “Build-to-Suit of the Year” at the association’s Annual Awards of Excellence.

***

Highland Park-based Metro Commercial Real Estate opened a second office at 1332 North Halsted in Lincoln Park. Senior Vice Presidents Jonathan Hyman and Reuben Rischall will co-lead the office.