TLP opens in Bronzeville; The Deal Sheet

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DG FastChannel signed a 10-year, 31k SF lease at 8130 River Dr. in Morton Grove. The company will take occupancy of the entire industrial warehouse building in December. CB Richard Ellis' Keith Puritz, Brett Kroner, Ryan Bain, and Zach Graham repped the tenant while Colliers Bennett & Kahnweiler's Chris Volkert and Brendan Green negotiated on behalf of the landlord, 8130 River Drive LLC.

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Grubb & Ellis's Jim Ward  and Craig Cassell represented Computer Systems Institute in the 10-year lease of 25k SF of educational space located at 400 Airport Rd. in Elgin. Computer Systems Institute is HD'd in Skokie  and owns and operates five other campuses in the Chicagoland area.

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CBRE's Hank Cox, Bob Reaumond, Keith Puritz, Brett Kroner,Ryan Bain, and Zach Graham  represented Focus Products Group in its 24k SF long term lease at 300 Knightsbridge Pkwy. in Lincolnshire. Van Vlissingen & Co.'s Nick Panarese repped the landlord, Knightsbridge II LLC.

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Rosebud Restaurants signed a lease for a 10k SF restaurant space at the River Square Shopping Center in Naperville. The restaurant is scheduled to open in November. River Square, at 22 E. Chicago, is owned by Inland Real Estate Corp.

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The Missner Group has completed three leases at Skokie Industrial & Office Centre  and one at nearby Touhy Plaza in Skokie. Skokie Industrial & Office Centre at 5500-5520 W. Touhy Ave. is a single-story, multi-tenant office/warehouse building totaling 86k SF. The Missner Group's Dan Kawahara repped the owner in the three leases to  Conya Global (4k SF repped by Century 21's John Lee Bingham) The North American Chess Association (1,743 SF), and Data Vision Systems (1,688 SF). At Touhy Plaza, Comp Med Home Health leased 2k SF.

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Sperry Van Ness' Ben Andrews and Scott Maesel represented Flaco’s Tacos in its 1,500 SF  lease at 46 E. Chicago Avenue. Altas Partners' Gwen Callans repped the landlord. The restaurant should open at the beginning of 2011.

Executive Moves

Gregory Vorwaller has joined Cushman & Wakefield as Global Head of Capital Markets. He joins from CB Richard Ellis, where he was Chief Operating Officer of Capital Markets and president of its Investment Properties Group. With nearly 30 years of experience, he's also worked at the Real Estate Financial Department of The First National Bank of Chicago, where he was responsible for advising corporate and real estate clients on alternative financing. Gregory graduated from the  University of Wisconsin

Awards

Magellan Development Group and NNP Residential won three Marketing and Management Excellence awards presented by the Chicagoland Apartment Association, including CAA’s highest award for the third time in the past four years. These are: the Property Excellence Award for the mixed-use Aqua Tower at Lakeshore East; the Community Service Program Award  for the Magellan Spring Marathon and 10K Race held last May that raised $250,000 on behalf of the Northwestern Brain Tumor Institute; and the Community Amenities Package  for Aqua Tower.

Finance News

Cambridge Realty Capital Cos. closed a $13.6M FHA-insured HUD Lean loan to finance the construction of Alden Estates of Shorewood, a 100-bed skilled-care nursing home. Cambridge's Jeffrey Davis said the HUD Section 232 funding package included both new construction and a fully amortized 40-year permanent mortgage loan. It was underwritten by Cambridge Realty Capital Ltd. of Illinois.

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HFF has completed the sale of two sub-performing loans secured by retail centers in Wisconsin and Illinois on behalf of a major Midwest insurance company. HFF's Bill Mitchell, Stuart Salins, and Ken Glomb represented the seller. An affiliate of Valstone Partners purchased the loans for an undisclosed amount. The retail centers include a 42k SF property in Brookfield, Wisc. and a 106k SF center in Oswego.

Sales News

VK Industrial I, a real estate fund managed by Venture One Real Estate and Kovitz Investment Group has closed on two industrial properties: 12500 Lombard Lane in Alsip and 5727 95th Avenue in Kenosha, Wisc. The Wisconsin property is a 20k SF industrial facility built in 1999 by the seller, M and P Properties. The property is 100% leased to Midwest Thermal-Vac. The seller was represented by Pitts Brothers and Associates' Rob Pitts. The Alsip building is an 86k SF  facility that was built in 1979. The seller, Freis Family Venture LLC, was represented by Podolsky Realty Partners' Corey Chase. The building is 100% leased to two tenants, MV Transportation and Masters Shipping.

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CBRE's Bill Novelli, Keith Puritz, Brett Kroner, Ryan Bain,  and Zach Graham  represented J&T Enterprise in its purchase of the 34k SF building at 1225 Busch Pkwy. in Buffalo Grove. The seller was 1225 Busch Parkway LLC. Sale price was undisclosed. Lee & Associates' Terry O’Hara and Paul Tesdal repped the seller.

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Millenium Properties R/E's Daniel Hyman sold the building at 1448-1456 West 83rd Street to Pangea Equities for $250,000. Daniel worked with MPI's Brad Thompson as representation for the buyer and seller, a local financial institution. Kalcheim Haber LLP's  Jamie Ross counseled the seller and McDonald Hopkins LLC's Chad Richman counseled the buyer. The 12k SF  apartment building has 13 two-bedroom units and an English basement.