The Deal Sheet
SALES
Golub & Co and Alcion Ventures, repped by HFF managing directors Marty O’Connell and Sean Fogarty, along with executive managing director Matthew Lawton, sold 579-unit Willow Crossing (above), 1031 Charlela Ln in Elk Grove Village, to Steadfast Income REIT. The property was most recently renovated last year and consists of 11 apartment buildings.
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Lee & Associates of Illinois VP Scott Anderson repped Sterling Lumber Co in the acquisition of a 514k SF and 83k SF manufacturing complex on 50 acres. The Canadian National railway will serve the property, and an additional 18 acres was assembled and acquired as part of the $12M-plus project. The seller, Atkore, was repped by CBRE’s Larry Johnson.
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Illinois Tool Works, repped by Studley EVP Rick Schuham, John Goodman, and Eric Feinberg, acquired the vast majority of the former Kraft campus in Glenview. An affiliate of Hamilton Partners, repped by Paul Sheridan, was involved in the acquisition. The 49-acre campus is four miles SE of ITW’s former location at 3600 W Lake Ave in Glenview.
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NAI Hiffman EVP Brian Colson and VP Eric Fischer repped DCT Industrial Trust in the purchase of a 109k SF industrial building from Third Generation at 1500-1530 Morse Ave in Elk Grove Village. DCT acquired the leased asset because of its quality tenancy and redevelopment potential.
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DTZ VP Robert Tamillo and SVP Michael Piscoran repped Kelly Pipe Co in the purchase of a 92k SF warehouse (above) at 2200-2206 159th St in Markham. The firm is expanding from a 55k SF space in South Holland, and will relocate 25 to 30 employees. Paine/Wetzel TCN Worldwide principal Ed Wabick repped the seller, William Welty of Markham Property Management.
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Kole Construction purchased a 30k SF warehouse at 1404 Sherman Rd in Romeoville. Lee & Associates of Illinois principal Jeff Galante and VP Scott Anderson repped the seller, Aurelio, and NAI Hiffman’s Mike Robbins repped the buyer.
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@properties Commercial’s Lee Ffrench and Pat McGuire repped the seller, the Frame Factory, in the $1.6M sale of an 18k SF warehouse/office building and adjacent 10k SF parking lot at 3400 N Pulaski Rd in Irving Park. Chody Real Estate’s Mitch Goltz repped the buyer, PERL Mortgage, which is almost doubling its space from its current HQ on Belmont in Avondale.
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Chicago Real Estate Resources’ Eric Janssen and Timothy Keenan repped The PrivateBank in the sale of its 30k SF office building at 1110 S Oakley Blvd in the Illinois Medical District, leased to the Department of Corrections. The sale took a few years to complete due to a lengthy lease renewal process. The buyer, South Loki, retained CRER as property manager.
LEASING
NAI Hiffman EVP Steve Connolly repped Chilled Solutions in a new lease for 68k SF of industrial space in Bolingbrook (its first Chicago area location), within the 249k SF Prologis-owned property at 470 Crossroads Pkwy. JLL’s Trevor Ragsdale and Kelly Gray repped Prologis.
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Value Industrial Partners, repped by NAI Hiffman VP Kelly Disser and associate Kyle Barrett, fully leased 755-777 Edgewood Ave (above), bringing the property from 50% in occupancy since acquiring the 40k SF flex building last year. New tenants include Earthwise Environmental (repped by Gladstone Group’s Dale Markay), Reba Machine (repped by H&B Realty’s Shaun Burke), Moscoso Trucking (repped by GC Realty & Development’s Brad Bullington), and Mayan Distribution.
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Studley executive managing director Robert Sevim repped PCM Logistics in a long-term lease on the eighth floor of 300 S Riverside for 28k SF, moving from a 28k SF space at 111 N Canal St. The California-based company currently has 105 employees in Chicago and can support up to 230 upon relocation. The Telos Group’s Matt Pistorio and Brian Whiting repped the landlord, The Mizrahi Group.
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Lee & Associates of Illinois principal Brian Vanosky and associate Tim McCahill repped Advance Grinding Services in a 33k SF lease at 6360 W 73rd St in Bedford Park. Chicago Industrial Real Estate’s Matt Rogatz repped ownership, The Heim Group.
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RMB Capital, repped by Studley EVP Rick Schuham, renewed and leased additional space at 115 S LaSalle, for a total of more than 23k SF. Since moving into the building in ’07, the company has seen both employee growth and business unit expansion. Studley has advised the firm since ’05.
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Lee & Associates of Illinois senior associate Amanda Jennings repped Aarete in a 5,842 SF lease of office space at 33 W Monroe St. AmTrust Realty Group’s Faye Oomen repped ownership.
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Yolk restaurant opened its fourth location in Ogilvie Transportation Center. Cornerstone Commercial Partners II’s Spero Adamis repped Yolk and Newmark Grubb Knight Frank’s Leslie Karr repped the owner in the 4,032 SF lease at 500 W Madison.
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Baxter Credit Union leased 2,420 SF of retail space at 6409 Grand Ave in Gurnee. Lee & Associates of Illinois SVP Joe Herron repped ownership, Jemco & Associates, and JLL’s Sheila Pickert repped the tenant.
EXECUTIVE MOVES
CBRE’s Todd Siegel has been promoted to FVP in the Chicago urban retail practice. In the industry for over a decade, Todd currently reps the retail component on high profile assets including Trump International Hotel and Tower-Chicago, 500 N Michigan Ave, and 980 N Michigan Ave. Earlier this year he collaborated with CBRE’s New York office on Eataly’s 65k SF Chicago flagship.
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The Marquette Cos' Darren Sloniger will serve as president in addition to his current position as CIO, which he’s held for the past 10 years. Former Marquette Management EVP James Cunningham will now serve as EVP of property management and COO for all of Marquette, and previous director of asset management Trevor Ryan has been promoted to EVP of asset management and strategic CFO.
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Andrew James joined Paine/Wetzel TCN Worldwide as managing principal. He was previously Midwest regional partner for DP Partners, and spent seven years repping the Chicago office of Duke Realty Corp. The Indianapolis native, who has lived in Chicago since 1989, received his BA from Tulane and his JD from Indiana.
