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The Deal Sheet

Chicago Deal Sheet
The Deal Sheet

SALES

The Boulder Group’s Randy Blankstein and Jimmy Goodman repped the seller, a Midwest-based developer, and the buyer, a West Coast-based private investor, in the $2.4M sale of a 4,020 SF singe-tenant PNC Bank ground lease at 12821 W Bluemound Rd (above) in Brookfield, Wis. PNC has 19 years of lease term remaining on an original 20-year ground lease.

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Brown Commercial Group brokered three industrial transactions in the suburbs: CMP Anodizing acquired 10k SF 1530 Louis Ave in Elk Grove Village from Citrus & Allied Essences, which moved its operations out of state (Brown Commercial associate Mason Hezner repped the buyer; NGKF’s Boris Shraybman and Kenneth Szady repped the seller); CSD Direct Messenger Service purchased 8k SF 353-355 Crossen Ave in Elk Grove Village from Zoran Beric (owner Dan Brown repped the seller and Mason repped the buyer); and Sikora Automation acquired 7,400 SF 845 Westgate Dr in Addison (Brown Commercial associate Mike Antonelli repped the buyer; GC Realty’s Brad Bullington repped the seller).

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SVN Chicago Commercial completed the $2.5M sale of a 12-unit apartment building at 853 W Grace St in Wrigleyville. SVP Wayne Caplan repped the buyer.

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The Deal Sheet

NelsonHill completed the $1.2M sale of a 5,300 SF warehouse at 318 N Laflin (above) to Mozer & Associates. The firm will convert the property to a high-end showroom and office space. NelsonHill principals Mark and Michael Nelson repped the seller, Music Direct, which they also repped last year in a relo to a larger facility in Ravenswood. Anovitz and Associates’ Ann Anovitz repped the buyer.

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Sean Delaney, VP investments in Marcus & Millichap’s Chicago Oak Brook office and director of the firm’s national self storage group, repped the seller, Centerville Self Storage, and the buyer, Sparkplug Capital, in the sale of 48k SF Centerville Self Storage, 2105 S Eastwood Dr in Woodstock. Built in 2000, the property consists of 10 single-story buildings with 322 storage units.

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SVN Chicago Commercial’s Wayne Caplan repped the buyer in the $1.6M sale of a 23k SF land site at 1809 W Devon Ave. The buyer plans to convert the site into a self storage facility. Podolsky|Circle CORFAC International’s John Homsher repped the seller.

LEASING

The Deal Sheet

Related Midwest started pre-leasing for OneEleven (above), a 60-story, 504-unit ultra-luxury apartment tower at 111 W Wacker Dr opening this summer. The building, designed to meet LEED Silver certification standards, includes 30k SF of indoor/outdoor amenity space and on on-site pet spa. Rents begin a $1,600/month.

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CBRE SVP Dave Prioletti completed two deals on behalf of owner KTR Capital Partners in White Oak Business Park in Aurora, bringing the park’s occupancy to 81%: Decadent Delights leased 14k SF and SSR Services leased 12k SF. KTR purchased the two-building portfolio (57% occupied) from Wolf Creek Associates at the end of last year.

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@properties Commercial’s Michael Rourke repped Aroo International in a 15k SF five-year industrial lease at 7789 N Caldwell Ave in Niles. Colliers’ Brendan Green repped the landlord, Capalnas Management.

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First Western Properties’ Paul Tsakiris and Kellen Duggan leased a 7,321 SF former physical therapy office at 4864 W Irving Park Rd to a CrossFit studio and 2,160 SF at 4410-4414 Roosevelt Rd in Hillside to a medical services company in a three-year lease.

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Sleepy’s signed a 4,773 SF lease at Oak Lawn Promenade in Oak Lawn, bringing the neighborhood shopping center to 100% leased after an extensive repositioning program. Next Realty acquired the 32k SF property, across the street from Chicago Ridge Mall, in 2012.

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Paragon International extended its lease of 3,247 SF of office space at Chatham Center, a 206k SF building at 1901 Roselle Rd in Schaumburg. Podolsky|Circle CORFAC International principal John Homsher and managing principal Randy Podolsky repped Paragon. Colliers’ Jason Simon repped the landlord, FCA Fund Chicago.

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@properties Commercial senior commercial brokers Michael Weber and Ian Feinerman repped the landlord, Howard Stillman, in a 3,200 SF five-year lease of first-floor retail space at 2354 N Clybourn Ave in Lincoln Park. Chicago Blackhawk Post 7975 Veterans of Foreign Wars will move into the space. Prudential Starck Realty's Anna Makowski repped the tenant.

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First Western Properties’ Paul Tsakiris and Fahim Lakhani recently leased: 1,500 SF at 1011 Hillcrest Dr in DeKalb, just north of the NIU campus; 1,180 SF at 179 E Lake St in Bartlett (co-tenants include 7-Eleven and Goodyear); and a 1,250 SF restaurant formerly known as Wonderburger to Orange Leaf Frozen Yogurt, at 11045 S Kedzie in Chicago.

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Edge Athletics, repped by Avison Young’s Eric Myers, signed a seven-year lease for 3,072 SF at 1731-1749 N Elston Ave. @properties Commercial senior consultant Rebecca Lundstrom and commercial broker Jim Moller repped the landlord, Urban Development. Rebecca also brokered a 1,714 SF five-year lease of restaurant space at 1043 N California Ave in Humboldt Park. The new tenant, Damian Warzecha, currently owns a food truck business and plans to open a restaurant in the space.

CONSTRUCTION & DEVELOPMENT

The Deal Sheet

Ryan Cos US’ Thomas Place Orland Park (above, completed with JV development partners Jim Bergman and Providence Life Services) earned the Energy Star for multifamily high rise designation (first in Illinois) and the Enterprise Green Communities Award (sixth in Illinois). The $22M, 80-unit affordable senior apartment community conserves water through efficient fixtures and irrigation; includes low VOC paints and finishes, and the majority of construction waste was recycled.

EXECUTIVE MOVES

Bradley Migdal joined Transwestern as executive managing director, leading the firm’s industrial site selection and business incentives practice in its Rosemont office. He was most recently managing director with NGKF’s global corporate services consulting practice. Bradley holds a bachelor’s degree in international relations from the University of Wisconsin-Madison; a JD from John Marshall Law School; and a Master of Law in taxation from the BU School of Law.

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Tony Schillaci joined Chicago Industrial Real Estate. Founder of Schillaci Group and co-founder of SB Development, Tony brings 29 years of construction and real estate development experience to the team.