THE DEAL SHEET
Leasing
Dawson Logistics leased 50k-SF of industrial space at 1801 E. Voorhees in Danville, after consolidating its operations in Hoopeston. Dawson will share an adjacent space in this 344k-SF single-tenant, rail-served warehouse with Owens Corning. UGL Equis SVP Michael Cook represented Dawson. Pinnacle Properties, the recorded owner, represented its interest internally.
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Sales
Essex Realty Group sold two 25-unit courtyard apartment buildings in Lakeview at 622 W. Stratford and 629 W. Cornelia. Essex's Doug Imber and Mike Tetrick represented the seller in the $6.3 million transaction.
Management
Jones Lang LaSalle has been selected by Mesirow Financial Real Estate as the property manager for 353 N. Clark, a 45-story, office tower in River North. This new appointment is in addition to Jones Lang's existing role as the leasing manager. The firm also arranged the tower?s $420 million financing in 2006. The team overseeing the property will be led by General Manager Richard Cooke, along with Asst. GM Mason Taylor. Steve Smith and Gary Kostecki direct leasing. The building is on target to be fully leased by completion in October 2009.
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Construction
Summit Design + Build, LLC completed the 10k-SF build-out of an office and warehouse space for Worldwide Music Services at 1313 W. Randolph Street in the West Loop. The firm is a supplier of choral and band folders with imprinting available; music filing boxes, envelopes and shelving; music stands and CDs/books/games. The build-out included the installation of racks 6? on center throughout the entire space to accommodate the storage of sheet music. Project Engineer II David Brown was responsible for on-site construction.
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Summit Design + Build also completed a 2,700 SF office build-out for Spring Wellness Center at 1350 W. Newport in Wrigleyville. Spring?s new center features completely remodeled bathrooms, floor to ceiling windows, bamboo flooring throughout and a bikram room which is heated to 105 degrees F with a humidity of 40%. Summit Design + Build?s David Brown, project engineer II, was responsible for the on-site construction.
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Bolingbrook Park District and Wight & Company opened the new Hidden Oaks Nature Center at 419 Trout Farm Road. The 7k-SF building sits between two large oak trees to create a ?tree house? feeling. The building has been registered with the USGBC to meet LEED-NC Platinum standards. The building includes integrated photocell and time clock devices to control site lighting. The green roof features native plants that do not require irrigation.
Finance
Meridian Capital Group arranged $5.1 million financing for four multifamily properties in Chicago. Together, they consist of 28 residential units and are located on W. Wrightwood, W. Warner, W. Addison/W. Patterson and W. Grace Avenues. Meridian's Joseph Schwimmer negotiated on behalf of the borrower to secure 5 and 10-year term mortgages with a rate of 5.65%.
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Meridian Capital Group arranged financing in the amount of $1.6 million for a multifamily property located at 6110 N. Winthrop Avenue that consists of 37 residential units. Meridian's Tannie Schnell negotiated on behalf of the borrower to secure a 5-year term mortgage with a rate of 5.72%. The building has been fully rehabilitated and is located in an appreciating north side pocket of the city.
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RFP
The Chicago Transit Authority is now seeking bids for 2740-2744 N. Wilton Avenue and 3400 N. Lincoln Avenue. The Invitations to Bid can be found here, under "Land / Building Opportunities.?
People
Richard M. Antczak has joined Op2mize LLC as EVP and principal, effective immediately. Antczak will focus on growing Op2mize?s local commercial brokerage business, including managing Op2mize?s sales staff. He spent the last eleven years with Champion Realty Advisors as a managing director. Richard is an active member of the Association of Industrial Real Estate Brokers
and a founding member of the Chicagoland Business Consortium.
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Bruce Renwick and Karla Harmon have joined Jones Lang LaSalle as leasing directors. Bruce and Karla will assist in leasing Arden Realty?s 3m-SF office portfolio in the East-West Corridor.
Prior to joining JLL, Karla was a Senior Leasing Director for CityGate Centre in Naperville which is owned by Calamos Real Estate. Bruce comes to JLL from Leasecorp, Inc., where he served as Director of National Accounts.
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Jones Lang LaSalle has been recognized as the best overall provider of corporate real estate services by the Watkins 2009 Survey of Corporate Real Estate Service Providers. The survey, conducted every two years by the Watkins Research Group Inc., in a joint project with Flasp hler Research Group, is is based on interviews with 204 corporate real estate decision-makers from 182 companies. JLL was rated #1 for each of the 10 considerations respondents listed as most important in selecting CRE providers.
