SALES
NelsonHill repped the seller, Howard Sachs, in the $2M sale of the former Sachs Truck Sales property (above), at the corner of Grand and Western on the West Side. The buyer, Panoptic Group, will develop a 78-unit green apartment building, with the address 2404-2426 W Grand Ave.
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Jameson Commercial’s Mark Kishtow completed the $1.8M sale of 2839-41 N Narragansett Ave, an 8,024 SF commercial strip center on a 25k SF lot in Belmont Cragin. The fully-leased property was sold by Harold Rider and purchased by Majid Abdallah. Corporate guaranteed credit leases include Little Ceasars and H&R Block, and the remaining tenants include Lee Nails, Currency Exchange, a barber shop, and a cell phone store.
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SVN | Chicago Commercial completed the $1.1M sale of 904 W Armitage. The mixed-use property was purchased by a local investor for $368/SF, the highest sales comp in Lincoln Park. SVN’s Jeffrey Baasch repped the seller.
LEASING
KBS REIT III, repped by Transwestern’s Michael Lirtzman and Courtney Baratz, signed a group of leases at 1.5M SF 500 W Madison (above) in the West Loop, which it acquired in December. Along with a 47k SF expansion extension by Lincoln International, a total of 71k SF in leases have been signed. Savills Studley’s Lisa Davidson and Tiffany Winne repped Lincoln International; CBRE’s Todd Lippman and James Whalen repped Here North America in a 12k SF expansion; Cushman & Wakefield’s Jonathan Gordon and Jordan Mellovitz repped Inventus in a new 9,925 SF lease; and MB Real Estate’s Jesse Slack repped Alliance Tech Group in a 1,481 SF lease.
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Nimlok Chicago leased 35k SF at 111-115 Rawls Rd in Des Plaines from Rawls Road Properties for its new corporate HQ. CBRE’s Brett Kroner, Keith Puritz, Ryan Bain, and Zach Graham repped Nimlok. Nicolson, Porter & List’s Mark Barbato repped the landlord.
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Baum Realty Group VP Will Crowden repped Foss Swim School in a 6,719 SF lease for its fourth Chicago area location at The Arboretum of South Barrington. The facility is scheduled to open for lessons in 2015.
