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This Week's Chicago Deal Sheet

Construction of Belgravia Group's Renelle on the River is moving along at a lightning pace. The developer celebrated the topping off of the 18-story building with a final beam ceremony.

Belgravia Group recently celebrated the topping-off of its 18-story Renelle on the River luxury condominium building with a beam-signing ceremony on site at 403 North Wabash in River North.
Belgravia Group celebrated the topping off of its 18-story Renelle on the River luxury condominium building with a beam-signing ceremony on-site at 403 North Wabash in River North.

Belgravia officials, project consultants and team members gathered at the base of the development to sign the final beam and watch it lifted to its place at the top of the building. Belgravia announced the 50-unit project is 65% sold. Prices range from $1.3M to $3.2M.

Belgravia secured a full construction permit for Renelle on the River in October, and erected a tower crane on the site one month later.

SALES

Naperville Corporate Center, Naperville, Illinois
Naperville Corporate Center, Naperville

HFF’s Patrick Shields, Bryan Rosenberg, Jamie Fink and Jeff Bramson represented the seller, a joint venture of TriGate Capital and Pearlmark, in the $38.7M sale of Naperville Corporate Center, a four-building, 421K SF office portfolio in Naperville. HFF also procured the buyer, Real Capital Solutions.

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Greenstone Partners and Suburban Real Estate Services brokered the $5M sale of a 110K SF, multi-tenant office building at 387 Shuman in Naperville.

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Greystone Real Estate Advisors’ Bill Montana and Chris Sackley represented Darlington Properties in the $16M sale of Darlington Apartments, a 235-unit multifamily property in Crystal Lake.

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NKF’s Corey Chase and Sergio Chapa represented the buyer in the sale-leaseback of a 54K SF industrial property at 1343 27th St. in Caledonia, Wisconsin. Jon Henderson Real Estate’s Jon Henderson represented the seller and tenant.

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Millennium Properties completed the following transactions:

  • Daniel Hyman represented the seller of an 11K SF office building at 100 West Higgins Road in Park Ridge. The buyer was represented by Xi Zhang Realty.
  • Susan Silver brokered the sale of a 40K SF multi-tenant industrial building at 1425-35 East Algonquin Road in Arlington Heights.

LEASES

631 Park Ave., Aurora, Illinois
631 Park Ave., Aurora

Darwin Realty’s Rick Daly represented Apex Warehouse Systems in a new 108K SF lease at 631 Park Ave. in Aurora. The building owner, Transbulk Real Estate, was represented by Transwestern's Joe Karmin and Justin Lerner.

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First Western Properties represented Sip 22 Coffee Lounge in a lease at Westfield Old Orchard shopping center in Skokie.

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Avison Young’s Chris Lydon represented Toshiba Machine Co. in a 59K SF lease at 695 Touhy Ave. in Elk Grove Village. The space will be used as a supplemental facility, complementing Toshiba’s U.S. headquarters at 755 Greenleaf in Elk Grove Village, and will house research and development and distribution operations for Toshiba’s Plastic-Injection and Machine-Tools machinery division. Cushman & Wakefield’s Al Caruana and Britt Casey represented the landlord.

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Colliers International’s Tom Rodeno and Matthew Stauber represented Clarion Partners in a 79K SF lease with TEI Logistics within Briarwood Business Park, 1400 Algonquin Road in Mount Prospect. TEI Logistics will relocate to the space from Wood Dale in June. Lee & Associates’ Christopher Nelson represented the tenant.

HIRES/PROMOTIONS

Baum Realty Group hired Ari Topper to lead the firm’s new urban office and industrial division, focusing on leasing and sales opportunities in Chicago’s office and flex/industrial market sector. Topper was most recently at Jameson Commercial Real Estate, where he was vice president of sales and leasing.

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Landmark Partners promoted Trip McDonough to vice president.

CONSTRUCTION

Northside Toyota, Chicago
Northside Toyota

The Missner Group completed construction of the Chicago Northside Toyota dealership at 6042 North Western in Chicago. The five-story, 228K SF dealership contains a 45K SF green roof, a 30K SF showroom surrounded by 28-foot glass panels capable of exhibiting over 35 vehicles and a 42K SF service area with 35 service bays. Aldo Botalla was project executive. Bob Papineau was senior project manager, with Steve Bulger as project superintendent. Axios Architects & Consultants provided the architectural services, with Jacob & Hefner Associates providing the engineering services.

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Server Farm Realty delivered 2 megawatts of power within its facility at 840 South Canal. Server Farm is in the process of building an additional 2 MW.

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DLR Group completed construction of the Moxy Chicago Downtown Hotel. The eight-story, 156-room hotel is a joint venture of Friedman Properties and White Lodging.

KUDOS

Willis Tower earned a Platinum-level wired certification from WiredScore for being one of the country’s most cutting-edge connected buildings. WiredScore gave Willis Tower high marks for providing its tenants with access to nine internet service providers. This includes fiber optic connections, providing users with the fastest internet speeds available. Additionally, Willis Tower has multiple internet access points leading into the building itself, which reduces the likelihood of internet slowdowns or outages. WiredScore also recognized Willis Tower’s cellphone technology. The building is equipped with a distributed antenna system, providing workers and visitors with better cellphone service throughout the building.