This Week's Chicago Deal Sheet
WiredScore, which rates technological capacity in commercial buildings, officially launched in Chicago with an event at River Point, 444 West Lake. WiredScore chose Chicago to address the local demand for the technology benchmark on the heels of expansions in Atlanta and Toronto.
With the launch, WiredScore announced 23 Chicago buildings, totaling 26M SF, have either attained Wired Certification or are in the process of doing so. The buildings are:
- Sullivan Center - Gold
- 625 West Adams - In Progress
- 120 North LaSalle - In Progress
- 1 North Dearborn - Platinum
- Five One Five North State - Platinum
- 330 North Wabash - Platinum
- 231 South LaSalle - In Progress
- Willis Tower - Platinum
- River North Point - Platinum
- 6300 River Road - In Progress
- 141 West Jackson - Platinum
- 55 East Monroe - Gold
- The 300 - In Progress
- River Point - Gold
- 155 North Wacker - Platinum
- 151 North Franklin - Platinum
- 500 West Madison - Gold
- The Sangamon - In Progress
- 150 North Riverside - Platinum
- 110 North Wacker - In Progress
- 401 North Michigan - Gold
- 311 South Wacker - Gold
- The Wrigley Building - Gold
HFF’s Amy Sands and Clinton Mitchell represented The Prime Group in the $16M sale of a 13K SF retail parcel within the historic Roanoke Tower at 11 South LaSalle. The retail parcel is 91% occupied with tenants including Citibank, 7-Eleven and T-Mobile.
Kiser Group completed the following transactions:
- Michael D’Agostino and Jake Parker were the sole brokers in the $1.7M sale of a land parcel at 3341 West Montrose in Albany Park. The buyer, Evergreen Real Estate Group, plans to build a 48-unit affordable housing building on the site.
- Matt Halper and Tejonne Vinson represented the seller, Goliath Properties, and the buyer, Yardbird Properties, in the $420K sale of a six-unit apartment building at 2244 Gunderson in Berwyn.
Greenstone Partners' Greg Dietz and Danny Spitz represented the buyer of a 15K SF loft office building and adjacent 6K SF development parcel at 601 West Randolph.
Chicago Real Estate Resources’ Steven Rappoport represented the seller, and Michael Tolliver represented the buyer, in a $21.5M portfolio disposition of two buildings totaling 348 apartments and 23 retail units near Midway Airport. The occupancy rate of the residential component was around 94% at the time of the sale.
Colliers International’s Steve Kohn and Mike Senner represented Crown Steel Sales in the sale of a 222K SF industrial building at 3355 West 31st St. to Cinespace Chicago Film Studios. Paine Wetzel’s Ed Wabick represented the buyer.
SVN Chicago Commercial’s Tim Rasmussen was the sole broker in the $1.1M sale of a 6,500 SF retail building at 5900 North Broadway in Edgewater.
Strive Logistics signed a 20K headquarters lease at 1457 North Halsted. CBRE’s Kevin McLennan and David Saad represented the tenant, and CBRE’s Jake Ehrenberg and Scott Brandwein represented landlord Bucksbaum Retail Properties. Strive will move to its space at NEWCITY in November.
Millennium Properties’ Michael Mintz completed two leases in Pilsen. The first was a 1,200 SF lease with a restaurateur at 1314 West 18th St. The second was a 2,300 SF lease with a wellness center at 1157 West 18th St.
Cushman & Wakefield’s Brett Kroner, Keith Puritz, Eric Fischer and Steve Stone were the sole brokers of a 48K SF long-term lease with Weld-Cote at Molto Properties’ 7720 North Lehigh development in Niles. Cushman & Wakefield will continue to market the remaining 87K SF.
Colliers International’s Dougal Jeppe represented Origami Risk in a 25K SF lease at 222 North LaSalle. The risk and insurance technology platform will move from theMART, 222 West Merchandise Mart Plaza, later this year.
Uniqlo will open a 9,500 SF store this fall at Woodfield Mall in Schaumburg. This will be the fashion retailer’s second store in the greater Chicago area.
Wool Finance Partners’ Martin Siegel and Gary Wool arranged $2.28M in acquisition financing for a 12-unit apartment building in Avondale, and $880K in cash-out refinancing for an 18-unit apartment building in Lyons.
Ware Malcomb hired Christina Piper as studio manager, interior architecture and design for its downtown Chicago office.
Stantec was selected by Walgreens as the architect and interior designer for Walgreens’ new 200K SF offices within the Post Office redevelopment. The new office is expected to open in fall 2019.
Structured Development entered into an agreement with the Menomonee Club to buy its 36K SF community center at the Drucker Center, 1535 North Dayton. Structured plans to develop a new facility for the nonprofit organization on a portion of The Shops at Big Deahl, and develop a 197-unit apartment building on the Drucker Center site.
PREMIER Design and Build Group and Bridge Development Partners broke ground on Bridge Point Downers Grove, a three-building, 679K SF speculative industrial development at 3600, 3700 and 3800 Finley Road in Downers Grove. Cornerstone Architects is providing architectural services, and McCallum Associates will provide landscaping services. Engineering support is provided by Swift Structural Design (structural) and SPACECO (civil). Cushman & Wakefield’s Jason West, David Friedland, Sean Henrick, Michael Magliano and Doug Pilcher are representing Bridge Development. The project is expected to be completed in early 2019.
McShane Construction completed construction of Heartis Village of Orland Park, a 97-unit assisted living and memory care facility for Caddis Partners, at 7420 West 159th St. in Orland Park. Katus was the architect of record.
Fifield Realty Corp. and Terraco Real Estate broke ground on Logan’s Crossing, a mixed-use redevelopment of the Logan Square Mega Mall site at 2500 North Milwaukee. It will include 220 apartments and 62K SF of retail, including a 27K SF small-format Target as its anchor tenant. First residential move-ins are expected in November 2019. Target expects to open its store in summer 2020. Antunovich Associates was retained as principal architect, and Focus Construction is the general contractor.
Morgan/Harbour Construction completed an office and lab space renovation on behalf of Riddell Sports at 1700 West Higgins Road in Des Plaines, Illinois. The firm relocated its corporate headquarters from neighboring Rosemont.
Englewood Construction began construction of a new 6,524 SF Outback Steakhouse in suburban Gurnee. Outback will relocate its current restaurant at 5642 Northridge Drive to the new location later this year.
Podolsky Circle CORFAC International was selected as the development manager for Black Creek Group’s 131K SF industrial development in Naperville. Scheduled for completion in Q4, the development on North Aurora Road, west of IL-59, will feature 32-foot clear heights, 22 dock positions and 149 parking spaces. Michael Lebar is leading the project team, which includes Kimley-Horn Associates as civil engineer, Peak Construction as general contractor and Ware Malcomb as project architect.
The Lynmark Group is now taking reservations at ONE, its 301-unit luxury apartment development under construction adjacent to Wheeling Town Center. The first two months will be offered free to tenants who sign a 14-month lease.
Related Midwest entered into a strategic partnership with Hello Alfred, a tech and hospitality platform combining building management software with home managers to handle a suite of services, to integrate Hello Alfred’s platform into Related’s buildings across the country.