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This Week's Chicago Deal Sheet

Want to get a jump-start on upcoming deals? Meet the major Chicago players at one of our upcoming events!

Some of Chicago's top commercial real estate firms came together for a worthy cause at the inaugural JDRF Illinois Real Estate Games. More than 150 of the city's top brokers, developers and property managers gathered at Fitness Formula Club Union Station in a series of sporting events that included dodgeball, a quarterback passing challenge, a spinning race, speed stacks and a weightlifting challenge.

Team CIBC competes in the tug of war challenge – one of six events in the inaugural JDRF Illinois Real Estate Games.
Team CIBC competes in the tug of war challenge — one of six events in the inaugural JDRF Illinois Real Estate Games.

The participants raised more than $154K for the Juvenile Diabetes Research Foundation. Team HFF was the champion of the games and Team Pearlmark was the highest fundraising team.

SALES

Blue Station Apartments, Blue Island, Illinois
Blue Station Apartments, Blue Island

Kiser Group’s Lee Kiser and Matt Halper were the sole brokers in the $18.6M sale of Blue Station Apartments, a 345-unit multifamily property at 2130 West 122nd St. in Blue Island. Kinzie Realty Corp. was the seller.

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Quantum Real Estate Advisors’ Chad Firsel represented the seller in the $1.7M sale of Spring Creek Plaza, a 20K SF multi-tenant retail center in Spring Grove.

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Greenstone Partners’ Jason St. John and Suburban Real Estate Services were the sole brokers in the $5M sale of 387 Shuman, a multi-tenant, 110K SF office building in Naperville.

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NAI Hiffman’s Daniel Leahy and Adam Roth represented Walker Partners in the acquisition of a 46K SF industrial property at 5700 McDermott Drive in Berkeley. The seller was AEW Capital Management. Walker Partners will relocate from its former warehouse in Hillside.

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First Western Properties' Gene Hart and Paul Tsakiris were the sole brokers in the $218K sale of a four-unit apartment building at 1 Webb St. in Calumet City.

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33 Realty’s John Meyer was the sole broker in the $2.7M sale of Brentwood Apartments, a 40-unit apartment project at 1711 and 1721 Parklake Drive in Morris.

LEASES

71 South Wacker Drive, Chicago
71 South Wacker Drive

Irvine Company Office Properties’ Greg Tait completed two leases totaling 150K SF at 71 South Wacker. Intellectual property law firm Banner & Witcoff signed a full-floor, 32K SF lease and was represented by CBRE’s Todd Lippman and Cal Wessman. Milliman, an actuarial and consulting firm, expanded its lease and will occupy 117K SF and was represented by Transwestern’s June Simonian.

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Entre Commercial Realty’s John and Mike Gazzola represented Northfield Industries in a 24K SF lease renewal of its Elk Grove Village facility. The building is owned and managed by Prologis.

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NAI Hiffman completed the following transactions:

  • Ben Cremer and Alex Sutterer represented J&L Contractors in a new 223K SF lease at 440 East 138th St. in Chicago. J&L Contractors leased the space to the Ardagh Group, a global leader in glass and metal packaging solutions.
  • Dan O’Neill and Ryan Maher represented JSQ Brush Hill in three leases at Brush Hill Office Court, 740-770 Pasquinelli Drive in Westmont. Sofbang extended its existing lease and expanded its footprint to 3,857 SF. Golden Group's Troy Golden represented the tenant. Safeway Insurance renewed its existing 7,643 SF lease and was represented by The Butler Group’s Brian Butler. Hummingbird Pediatric Therapy completed a lease renewal and expansion to occupy to 12K SF. NAI Hiffman’s Aubrey Van Reken represented the tenant.

HIRES/PROMOTIONS

Cawley Chicago hired Nicholas Schaefer as vice president and Zach Pruitt as principal in the firm’s industrial practice. The hires reunite Pruitt and Schaefer with Doug Hayes, Frank Melchert and Stevan Arandjelovic, who all previously worked at NelsonHill.

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Jon Anderson joined Principle Construction as an assistant project manager.

CONSTRUCTION

Sheridan Crossing, North Chicago, Illinois
A rendering of Structured Development's Sheridan Crossing in North Chicago.

Baker Development completed core-and-shell construction at 2017 North Mendell, its 62K SF loft office redevelopment in the North Branch Industrial Corridor.

KUDOS

Structured Development and Carly Partners retained CBRE to market the 76K SF retail component at Sheridan Crossing, a 37-acre mixed-use development across from Great Lakes Naval Station in North Chicago. Mary Bresnahan and Kim McGuire will lead marketing efforts. The multiphase development, comprising a total of more than 260K SF, will be anchored by a 107-room limited-service hotel and a 10-screen movie theater. An adjacent property is the future home of the National Museum of the American Sailor, which is expected to host more than 450,000 visitors annually when completed.

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The Skender Foundation partnered with the New Coast Foundation, a group whose mission is to accelerate the growth and impact of organizations working to break the intergenerational cycle of poverty throughout Chicago. New Coast and Skender Foundation will provide a $300K, three-year grant to VOCEL, an early childhood education nonprofit.

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Berkshire Hathaway HomeServices KoenigRubloff Realty Group opened a new office at 9980 North Michigan Ave. The firm performed a complete build-out of the seventh floor. David Bracy, Alan Zuber, Joe Stacy and Jeani Jernstedt are the managing brokers.