Sales News

Grubb & Ellis Co's Erik Foster and Mike Wilson represented WP Carey & Co in the disposition of 750 N Commons Dr in Aurora. The211k SF building is the HQ of Westell Technologies and was purchased by Pembroke Aurora, a JV between Pembroke Capitaland Xel Aurora, an affiliate of Lexington Realty Trust. The price wasn't disclosed.

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HFF's Matthew Lawton, Sean Fogarty, and Marty O'Connell are marketing the sale of The Reserve at Evanston, a 193-unit, Class-A multi-housing community, on behalf of the seller, a JV of Atlantic Realty Partners and Invesco Real Estate. The property at 1930 Ridge Ave was completed in 2003 and includes one-, two- and three-bedroom units averaging 844 SF.

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FavilaFamily Investors bought three commercial condos totaling 8,500 SF in all cash deal from 860 W Lake LLC at the Roselle Commons Business Park. Millennium Properties' Daniel Hymanand Brad Thompson represented both parties.

Construction News

JC Anderson has completed more than 200k SF of office renovations for the Career Education Corp throughout the Chicago area. The firm was selected by CB Richard Ellis for the construction. Locations include the Merchandise Mart andPresidents Plaza in Chicago; the Prairie Stone office complex in Hoffman Estates; One Century Centre in Schaumburg; and Corridors I and II in Downers Grove. JC Andersons Daniel Tannhauser worked with IA Interior Architects to develop a budget and plan.

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Morgan/Harbour Construction completed a 35k SF TI project on behalf of Ashley Capital at the Libertyville Corporate Center at 1755 Butterfield Rd in Libertyville. Morgan/Harbour's Warren Seil and Tom Cunningham served as project executive and project manager, respectively. Harris Architects provided architectural services.

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ARCO/Murray National Construction has completed a 5,500 SF office buildout for a wind energy company in Lombard. The project included a 2,000 SF raised-floor trading room and power plant control center. A backup generator was installed for the control center and data rooms. ARCO/Murray's Pat Aylward and Chris Niedhammer were the project managers.

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ARCO/Murray National Construction has completed two office buildouts for Edelman Financial Services in Oak Brook and Glenview. Both projects included hardwood floors and custom millwork. ARCO/Murray's Pat Aylward served as lead project manager.

Leasing News

Clarius Partners signed a 61k SF industrial lease to an Atlanta-based industrial user at Clarius Park McCook, 9200 W 55th St in McCook. Nicolson Porter & List's Adam Stokes and Mark Barbatorepresented Clarius Partners. UGL Service's Timothy Cahill andNick Rossini repped the tenant.

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Valtera Corp has renewed and expanded the lease for its corporate HQ at Continental Towers at 1701 Golf Rd in Rolling Meadows. Jones Lang LaSalle's Gregg Raus and Mark Kolar repped the tenant in its 24k SF lease, which was expanded from 20k SF.

Executive Moves
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Ned Franke was promoted to EVP from senior director at Cushman & Wakefield. Ned joined C&W in 2003 and focuses on tenant rep and site selection. His clients include Marsh & McLennen, Mercer,Kraft, Trading Technologies, Abbott Labs, and others.

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Dean Giannakopoulos has joined Marcus & Millichap Capital Corp as an associate in the firm’s Chicago Downtown office. Previously, Dean was a senior commercial mortgage analyst and junior producer at Maverick Commercial Mortgage. He has a bachelor in finance from the University of Illinois at Urbana-Champaign.

Receiverships

JCF Real Estate and its founder John Fitzmaurice have been named the court-appointed receiver and/or manager on another 13 properties throughout the Chicagoland in Q1. The properties are located in Chicago, Glenview, Antioch, Wheeling, Inverness, Lisle, Oak Park, Riverside, North Barrington, and Aurora and represent all asset classes.

Awards

BOMA/Suburban Chicago announced the regional level winners of the TOBY (The Outstanding Building of the Year).

100k SF to 250k SF category: 25 Northwest Point, Elk Grove Village, managed by The John Buck Co and owned by JBC Funds Northwest Point. 

Over 1M SF: Schaumburg Corporate Center, managed and owned by Manulife Financial.

Corporate Facility: McDonald’s Corp in Oak Brook, managed by Jones Lang LaSalle and owned by the McDonald’s Corp.\

Suburban Office Park Low-Rise: Parkway North Center in Deerfield, managed by The John Buck Co and owned by JBC Funds Parkway North.

Suburban Office Park Mid-Rise: Mid America Plaza in Oakbrook Terrace, managed by CB Richard Ellis and owned by TR Mid America Plaza Corp.

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Podolsky Northstar CORFAC International's Adam Tarantur won AIRE's Frank Mahoney Award of Excellence, which is presented to a member who has had a positive impact on the industry and community in the last year. Adam has participated in the disposition of more than 3M SF of industrial space in his five-year career. He's also a board member for Jewish Council for Youth Services and a member of Rebuilding Together, a charity that builds homes for needy residents.