THE DEAL SHEET
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Magnetrol International broke ground on its new HQ building at 705 Enterprise St in Aurora. The company is relocating its HQ from Downers Grove; the property is an existing 250k SF structure that is being significantly rebuilt by Krusinski Construction. Joe Krusinski III is overseeing the project, with architectural services by Baton Rouge-based Chenevert Architects. *** The 1800 Averill Road building in Geneva expanded by 163k SF to accommodate the needs of Peacock Engineering Co, which will continue to lease the existing 243k SF building, as well as the new expansion space. Duke Realty Corp, which owns the property, is overseeing the expansion through its Chicago office. Peacock Engineering is also going to lease space at 720 Center Ave, a 361k SF Duke Realty building in Carol Stream. Colliers International's Brian Kling repped Peacock Engineering in the leases, while Susan Bergdoll repped Duke Realty in-house. *** |
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Reed Construction completed an extensive build-out at 525 W Monroe in the West Loop for Studio One Eleven, a packaging design specialist. The project was undertaken when the company relocated from the 14th to the second floor of the property. The new space includes a 5,000 SF design studio with reception/lounge area, featuring illuminated display cases to showcase the company's work. The project was led by Reed Construction’s Bryan Kreuger and Augie Insalaco. The project architect was Solomon Cordwell Buenz. *** Work started on a 2,000 SF addition to the Academy of Scholastic Achievement at 4651 W Madison St on the West Side. The new space will serve as a science lab to support the public charter high school’s program for at-risk students. Chicago-based Tandem Construction is building the addition; the architect is Red Architects. |
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| SALES | ||
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MCM Plaza at 1500 N Damen Ave in Chicago traded hands for $13.2M. The mixed-use property includes 18 apartments and 18k SF of retail space. Baum Realty Group’s Danny Spitz and Greg Dietz arranged the sale to an unspecified buyer, who paid cash. *** |
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| 350 WPI Rohlwing LLC bought 350 Rohlwing Road, a 453k SF industrial building in Addison, for $20.5M. Domtar Corp recently leased the entire building. Marty Cohan of Marcus & Millichap’s West Los Angeles office repped the buyer. John Przybyla of the firm’s Chicago downtown office also provided representation. ***
Melt, a restaurant space at 1840 North Damen in Bucktown, traded for an unspecified price. Kudan Group’s Scott Reinish repped both the seller, Dion Antic, and the buyer, Misung Jang. Enhakkore, a Korean/Japanese concept, is slated to open in the space in January. *** |
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745 S Rohlwing Rd in Addison—a 3.9-acre property with a 14k SF building on it—sold. Albin Carlson & Co had occupied the space as a tenant and sought to exercise its option to purchase the property, which it then wanted to vacate and sell. Cawley Chicago Commecial Real Estate’s Andrew Maletich and Dan Cawley repped Ablin Carlson, while Morken & Associates' Steve Morken repped the buyer. *** |
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| An individual investor bought 5600 S Michigan Ave in Chicago’s Washington Park neighborhood out of foreclosure from Fannie Mae for $410k. It's a 15-unit apartment building, with eight of the units gut rehabbed. Both parties were repped by Interra Realty's Brad Feldman. In a separate deal, an investor bought 1614 W 66th in Englewood from a Chicago-based national bank. Both parties were repped by Interra Realty’s Ted Stratman. | ||
| LEASING | ||
| COM2 Computer Recycling Solutions inked leases in Carol Stream, bringing its footprint in the area to 261k SF. The company signed a new lease for 175k SF at 500 Kehoe Blvd to provide itself additional storage space near its current location, and it also renewed its lease at 140 East Fullerton Ave. As a result of the deal, COM2 now occupies the entire 86k SF facility. NAI Hiffman's John Whitehead repped COM2 in both transactions, while John Cash and David Haigh, also with NAI Hiffman, repped the landlord, 500 Kehoe LLC, in the new lease. *** Axelent Inc leased 19k SF at 14503 Gougar Rd in Lockport, becoming the first tenant in the lead building of ML Realty Partners’ new development, Heritage Crossing Corporate Center. Cawley Chicago Commercial Real Estate’s Terry Grapenthin and Josh Hearne repped Axelent, while NAI Hiffman repped ML Realty Partners. |
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