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This Week's Chicago Deal Sheet

One North Dearborn, one of the oldest LEED certified buildings in the U.S., has a new tenant.

One North Dearborn, Chicago
One North Dearborn

Euromonitor International signed a 36K SF lease and will occupy the entire 17th floor of the historic 17-story building. The firm is moving its North American headquarters to One North Dearborn from 224 South Michigan and the move marks a 56% increase in its Chicago office footprint.

Colliers International's Tony Karmin and Corby Marx represented Euromonitor, and Telos Group’s Jack O’Brien and Caroline Conlon represented owner Beacon Capital Partners.

SALES

7500 South Shore Drive, Chicago
7500 South Shore Drive

Essex Realty completed the following transactions:

  • Steve Livaditis and Joe Scheck were the sole brokers in the $1.85M sale of 1901 West Bradley Place, an eight-unit apartment building in Roscoe Village.
  • Jim Darrow and Jordan Gottlieb were the sole brokers in the $5.4M sale of a 125-unit apartment building at 7500 South Shore Drive.
  • Jim Darrow and Jordan Gottlieb represented the sellers, and Doug Fisher and Vic Ciancetta represented the buyers, in the $1.7M sale of a 21-unit mixed-use property at 4421 West Fullerton Ave./2349 North Kenneth Ave. in Hermosa.
  • Brian Kochendorfer and Brian Karmowski represented the seller and Vic Ciancetta represented the buyer in the $4.3M sale of a 36-unit mixed-use property at 4500 West Fullerton Ave. in Hermosa.
  • Abe Eilian represented the seller and Doug Imber, Kate Varde and Clay Maxfield represented the buyer in the $1.8M sale of a 16-unit apartment building at 6300-04 North Oakley/2306-08 West Rosemont in West Ridge.

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Chicago net lease real estate
369 Roosevelt Road, Glen Ellyn

Berkadia’s Ralph DePasquale, Alex Blagojevich and Parker Stewart represented the seller, Castle Lanterra Properties, in the sale of Midpointe Apartments, a 423-unit garden-style apartment property at 4050 West 111th St.

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HFF’s Amy Sands, Clinton Mitchell, Barry Brown, Dave Keller and Claudia Steeb represented the seller, Institutional Mall Investors, in the sale of Jefferson Pointe, a 407K SF shopping center in Fort Wayne, Indiana. Jefferson Pointe Center SPE was the buyer.

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Adelphia Properties’ Simeon and George Spirrison represented the seller in the $2.9M disposition of a 7,006 SF retail property at 369 Roosevelt Road in Glen Ellyn. The building is leased by Mattress Firm and F45 Fitness.

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First Western Properties' Paul Tsakiris was the sole broker in the sale of a retail strip center at 8742-46 North Shermer Road in Niles.

LEASES

Colliers International's Dave Burden represented Arjo in a 62K SF lease restructuring, including an 18K SF expansion, for its North American headquarters at 2349 West Lake in Addison. The lease, for the entire second floor, represents a 41% increase in space.

FINANCING

Lodge Financial’s Matthew Bowker arranged $3.7M in acquisition financing for a 22K SF office building in River North. The building was 39% occupied at the time of closing.

HIRES/PROMOTIONS

Midwest Real Estate Data hired Chris Haran as chief technology officer. Haran comes to MRED from Coldwell Banker, where he served as vice president of field operations.

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CBRE hired Alex Frei as senior vice president in the firm’s incentives practices group on its transactions and advisory services team.

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Inland Securities Corp. hired Rick Martens as senior vice president – external wholesaler. Martens will work to build relationships with financial advisers in Florida, Puerto Rico and the Virgin Islands.

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Institutional Property Advisors hired Jordyn Berger as director in the firm’s senior housing group. Berger will focus on structuring and arranging debt, mezzanine and equity capital for owners, capital for owners, operators and developers of independent living, assisted living, memory care and skilled nursing facilities. Most recently, Berger served as director of acquisitions for Enlivant, a private equity-backed assisted living owner-operator, and as acquisitions manager for Ventas.

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@properties hired Kim Kerbis as vice president of brokerage services and managing officer in the firm’s Goose Island office. Kerbis will work alongside Kevin Van Eck and be responsible for the growth and performance of the office, transaction management, recruitment and training. @properties’ Goose Island office has over 350 licensed brokers and closed on over $1.5B in residential transactions last year.

CONSTRUCTION

Gotham Greens Chicago groundbreaking
Mayor Rahm Emanuel (center), Alderman Anthony Beale (center, left) Gotham Greens founders Viraj Pury and Eric Haley, (center, right) and Chicago Neighborhood Resources CEO David Doig (second from right) at the Gotham Greens groundbreaking in Pullman.

Gotham Greens founders Viraj Puri and Eric Haley joined Mayor Rahm Emanuel, Alderman Anthony Beale (9th), Chicago Neighborhood Resources President David Doig and community leaders at the groundbreaking of a new 140K SF greenhouse in Pullman. The greenhouse will bring 60 permanent and 70 construction jobs to the neighborhood.

KUDOS

Enodo, an automated analysis platform for multifamily real estate, took first place at the Multifamily Technology and Entrepreneurship Conference startup competition in San Francisco.

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Cushman & Wakefield’s Jack Keenan, Alex Smith and Britt Casey were the top three Chicago-area producers of 2017. All three also earned a place on Cushman & Wakefield’s Americas Top 100 Producers list.

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Perimeter Architects is now known as Perimeter Architects & Construction and expanded its services to provide architect-led design-build services and act as the single point of contact for its clients. This extension of services will allow Perimeter, which specializes in the design and construction of medical and health and wellness developments, to seamlessly maintain the client’s design vision through the entire construction process. Perimeter’s transition to an ALDB firm means its clients will have the option for an integrated strategy that contains both design and construction services.