This Week's Chicago Deal Sheet
Another company is making the move to downtown, this one from out of state. Cleaning supplies giant SC Johnson recently purchased a West Loop union hall that it will renovate into a permanent HQ. Until it's ready to move in, SC Johnson will lease separate office space.
SC Johnson bought the International Brotherhood of Electrical Workers Local 134 hall at 600 West Washington (shown) for an undisclosed price. The company also leased 49k SF at 550 West Washington and will move its 175 employees from Racine, WI, to Chicago this fall. SC Johnson will lease back 600 West Washington until the company is ready to move in.
Quantum Real Estate Advisors’ Chad Firsel and Daniel Waszak repped the seller in the $6.8M disposition of 7101-7123 West North Ave, a 23k SF retail asset in Oak Park (pictured). The property is 87% occupied with tenants including Dunkin’ Donuts, Pizza Hut and The UPS Store. The buyer was a California-based private investor.
HFF’s Sean Fogarty, Marty O’Connell and Wick Kirby repped a JV of Covenant Capital Group and Bell Partners in the sale of Oxford Hills Apartments, a 480-unit multifamily community in St. Louis. Aragon Holdings purchased the asset for an undisclosed amount free and clear of existing debt.
Hackman Capital Partners announced the acquisition of two industrial buildings on the North Side. The buildings were acquired in a sale-leaseback transaction and total 195k SF. They are on the river at 3001 North Rockwell (150k SF) and 2950 North Campbell (45k SF). The seller and tenant, Cenveo Corp, will continue operations in both facilities.
Interra Realty’s Ted Stratman and Jeremy Morton repped the seller in the $2.3M disposition of 2144 West Potomac Ave (pictured), a recently renovated, five-unit multifamily property in Wicker Park. The $460k/unit price is one of the highest price-per-unit sales in Wicker Park in the past five years.
Essex Realty’s Abe Elian was the sole broker in the $832k sale of 2343 West Haddon, a three-flat apartment building in the Ukrainian Village.
SVN | Chicago Commercial’s Tim Franz repped the seller in the $1.8M disposition of 257-81 Elk Trail Road, a 16k SF retail center in Carol Stream.
Cushman & Wakefield’s Steve Schneider, Bill Starcevich and Jake Hagelow repped Civis Analytics in its 29k SF lease at 200 West Monroe (shown). Civis, which plans to add at least 75 new jobs in 2016, will move into its new offices starting next month.
Lee & Associates’ Steve Bass and John Sharpe repped landlord Stockbridge Capital in the following lease renewals in Elgin’s Northwest Corporate Park:
- Medela renewed its 155k SF lease at 2760 Spectrum Drive and was repped by Entre Commercial.
- Wheel Pros renewed its 32k SF lease at 2570 Northwest Pkwy and was repped Lee & Associates’ Jeff Janda and Reid Bassinger.
Transwestern’s Michael Marconi, Justin Lerner and Joe Karmin repped Centor North America in its 63k SF HQ lease at 966 Corporate Blvd in Aurora.
Savills Studley’s Richard Plonsker repped The Academy of Nutrition and Dietetics in its long-term HQ lease extension at 120 South Riverside Plaza.
CBRE’s Gary Fazzio repped tenant Wilton Brands in its 11-year, 86k SF lease at Washington Pointe in Naperville. The lease brings the asset to 100% occupancy. NAI Hiffman’s Jim Adler and Dan O’Neill repped landlord The Davis Cos.
SomerCor completed the following SBA 504 financing deals:
- Mickey Finn’s Brewery obtained $1.3M in financing to purchase a 23k SF industrial facility at 111 West Church in Libertyville.
- ImagIT Solutions acquired $488k in financing to purchase a 3,300 SF mixed-use facility at 2816 North Lincoln, Chicago.
- Lake Street Landscape Supply obtained $702k to purchase an 8,857 SF commercial property at 1800-98 West Lake St, Chicago.
- Water Tower Family Dental acquired $347k to purchase a 4,500 SF office property at 1488-1496 Merchant Drive, Algonquin.
- Custom Education Solutions obtained $553k to purchase a 6,371 SF office property at 235 Remington Blvd, Bolingbrook.
- Chandler Services acquired $659k to construct a 16k SF expansion industrial facility at 10203 191st St, Mokena.
- Windy City Linen acquired $616k in financing for a 34k SF industrial building at 1150 Willis Ave, Wheeling.
- EZ Auto Glass acquired $146k for the purchase of a 14k SF industrial facility at 4840-44 West North Ave, Chicago.
- Med Alliance Group acquired $669k in financing to purchase a 20k SF industrial building at 500 East State St, Sycamore.
- Accurate Perforating acquired $718k for a 60k SF industrial facility at 1657 North Kostner, Chicago.
- Outdoor Interiors acquired $292k to purchase a 43k SF warehouse building at 21969 North Pepper Road, Lake Barrington.
- Georgia Nut Co acquired $1.1M to purchase a 78k SF industrial facility at 7515 Linder Ave, Skokie.
Marcus Cook joined Baum Realty as SVP. Marcus was most recently in several brokerage roles with Conlon Commercial, including several years as managing director.
The Gettys Group's Chris McDonough was promoted to principal. The honor comes as Chris celebrates his 10-year anniversary with the firm.
Erin Coupe joined CBRE as VP in its occupier advisory and transaction services division. Erin was most recently at architecture firm Solomon Cordwell Buenz, where she was director of business development in the Chicago area.
Berkshire Hathaway HomeServices KoenigRubloff Realty Group appointed Laura Blyth as VP and director of business development. She will lead company-generated business development including relocation, broker-to-broker and eLeads.
JLL appointed Ken Nigro to lead business intelligence and analytics for the firm’s corporate solutions business in the Americas. He will be based in Chicago. Ken brings more than 20 years of diverse leadership experience and joins JLL from the Walt Disney Co, where he most recently served as director, human resources, business intelligence and analytics.
Urban Innovations promoted Tony Lindsay to VP. Tony joined the firm as a senior project manager in 2003 and is responsible for tenant improvement, capital improvement and general construction services for all Urban Innovation’s construction services customers.
Principle Construction promoted Mike Long to VP. He will be responsible for the overall supervision and direction of the entire staff at Principle.
Duke Realty promoted Ryan O’Leary to regional SVP for the firm’s Chicago, Minneapolis-St. Paul and St. Louis operations, and Susan Bergdoll to VP of leasing and development in its Chicago office.
Kiser Group welcomes Michael Feldstein to the team. Michael will offer expert guidance to investors, developers and property owners.