A private individual investor purchased a three-building, 115-unit apartment portfolio in Rogers Park for $16.1M in an off-market deal from George Triff.
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The portfolio consists of 7405 N. Damen Ave., featuring 33 one-bedroom units; 7415 N. Damen Ave., which includes 32 one-bedroom and six two-bedroom units; and 7416 N. Damen Ave., with 41 one-bedroom and three two-bedroom units. The properties were fully occupied at the time of sale.
“Portfolio sales present investors with an opportunity to immediately achieve economies of scale that they otherwise would have to piece together individually over time,” Interra Realty's Brad Feldman said in a press release.
Feldman and Triton Realty Group's Harrison Cohen represented both parties in the deal.
PEOPLE
The Missner Group hired David Julian as executive vice president of business development. Julian will spearhead the company’s initiatives to identify new business opportunities, forge strategic partnerships and drive growth. Julian joins The Missner Group from Krusinski Construction Co.
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Habitat promoted Wendy Deetjen to vice president of the firm’s national market-rate portfolio. Deetjen joined Habitat as a regional manager in November 2017 and most recently served as senior regional manager. Deetjen will oversee Habitat’s portfolio of more than 4,500 units market-rate communities across the Chicago, Detroit and Minneapolis metros.
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Lee & Associates promoted Michael O’Leary to principal from executive vice president. Since joining the firm in 2019, O’Leary has been a key member of the industrial services division, specializing in the leasing, acquisition and disposition of industrial properties throughout several key submarkets.
SALES
Bridge Industrial acquired a 12.2-acre parcel in Downers Grove. The site currently serves as a functionally obsolete, single-story suburban office building, which Bridge plans to redevelop into a 240K SF industrial facility. This will be the firm’s ninth office-to-industrial conversion.
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A net-leased Jewel-Osco property in La Grange Park sold for just over $9M to a 1031 exchange investor. The 47K SF building is at 507 E. Woodlawn Ave. Jewel-Osco has operated at the site since it was built in 1964 and recently signed a 20-year lease extension through May 2044.
Marcus & Millichap’s Adrian Mendoza, Sean Sharko and Austin Weisenbeck had the exclusive listing to market the property on behalf of the seller, a life insurance company.
LEASES
HOK relocated its Chicago studio to the 14th floor of One Prudential Plaza. A team from HOK designed the new 26K SF space, and its relocation coincides with the firm's 30th year in Chicago.
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McDonald Associates signed a 25K SF industrial lease at 1071 Thorndale Ave. in Bensenville. Lee & Associates' Chris Nelson represented the landlord, Prologis, while KBC Advisors' Jeff Fischer represented the tenant.
CONSTRUCTION AND DEVELOPMENT
Bell Works Chicagoland has broken ground on The Towns at Bell Works Chicagoland, a community of 164 townhouses, in partnership with Pulte Homes and the Village of Hoffman Estates.
The townhomes will feature three-bedroom layouts with options for a fourth, three floors of living space and two-car garages. The project marks Bell Works Chicagoland’s first residential phase. Completion is expected in Q3 2026.
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