This Week's Chicago Deal Sheet
Tishman Speyer announced lease extensions with Katten and Chubb at its 525 West Monroe St. office building in Chicago’s West Loop.
Katten was one of the first tenants to commit to the building when it was completed in 1983. The law firm will keep its 204K SF headquarters at 525 West Monroe. Tishman Speyer will create two new outdoor terraces exclusively for Katten as part of the new lease.
Tishman Speyer also completed a 92K SF extension with Chubb, which has been located at 525 West Monroe for more than 20 years.
The lease extensions come as Tishman Speyer completes its redevelopment of the building, including a new outdoor plaza, upgraded entrance and lobby space, and the addition of an all-day café called The Foyer.
“We are thrilled by the opportunity to extend our long-term relationship with both Katten and Chubb,” Nooshin Felsenthal, managing director at Tishman Speyer, said in a press release. “Their renewed commitments speak to the broader demand among leading companies to house their workforces in top-tier environments supported by world-class operators that possess the resources and proven ability to cultivate unique and dynamic tenant experiences.”
PEOPLE
Ken Lavand was promoted to senior financial analyst at ML Realty Partners after joining the firm in 2017.
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The Building Owners and Managers Association of Chicago announced the winners of the 2023 Gold Circle and The Outstanding Building of the Year awards.
The 2023 Gold Circle Award winners are:
— Property Management Professional of the Year: Karen Gana, CBRE.
— Security Professional of the Year: Brandi Srda, Titan Security Group.
— Building Engineer of the Year: Sean Kenny, CBRE.
— Janitorial Professional of the Year: Jasminka Trkulja, Harvard Maintenance.
— Emerging Leader of the Year: Morgan Barnes, Hines.
— Affiliate Member of the Year: David Lippe, Cyclone Energy Group.
TOBY Award winners in various categories included:
— Corporate Facility: 400 South Jefferson, managed by The RMR Group and owned by SIR Chicago LLC.
— Renovated Building: 321 North Clark, managed by Hines and owned by American Realty Advisors, Diversified Real Estate Capital and Hines.
— 250K SF to 499K SF: 311 West Monroe, owned and managed by Sterling Bay Property Management.
— 500K SF to 1M SF: 333 North Green, managed by Sterling Bay Property Management and owned by 333 North Green LLC.
— Over 1M SF: One South Wacker, managed by JLL and owned by 601W Cos.
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Inland Securities Corp. added to its team new hires Ryan Perri as vice president, institutional relations, Jimmy Clark as regional associate I, and Alec Steffen and Spencer Tetrault as regional associate II.
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Calamos Real Estate LLC named three employees to new roles. Chris Landis, who joined the firm in 2019 as an analyst, was promoted to vice president. Frank Klimala, who joined Calamos in 2016 as assistant facilities manager for Calamos Investments, was promoted to associate vice president/property manager. Starr McCaffery was also named to a newly created role leading brand and communication strategy for the company.
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SomerCor announced the appointment of Margy Sweeney, founder and CEO of Akrete, as the new chairman of its board of directors. Thomas Huffman, executive vice president of Wintrust SBA Lending, will serve as the board's vice chairman.
SALES
Baird & Warner brokered the $6.2M sale of 212 East Ohio St., a mixed-use property in Chicago's Streeterville neighborhood with 29K SF of rentable retail and office space.
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Interra Realty brokered the $5.2M sale of 4070 North Kenmore Ave., a 42-unit multifamily property in Chicago’s Uptown neighborhood. Joe Smazal, Interra senior managing principal, represented the private local seller and local private investor buyer.
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Marcus & Millichap sold a six-unit apartment property at 1249 Homestead Road in La Grange Park for $965K. The CRE brokerage firm also sold Country Inn & Suites Effingham, a 65-room property in Effingham.
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U.S. Wire & Cable Products LLC sold 350 Evergreen St., a 27K SF industrial building in Bensenville, for just over $2.1M. Brown Commercial Group Vice President of Sales Mason Hezner represented U.S. Wire & Cable Products in the disposition.
LEASES
Brown Commercial Group Vice President of Sales Mason Hezner represented landlord HMC CHP 1201 Wiley LLC in leasing 9,900 SF of office space in Schaumburg to MBL International Corp.
CONSTRUCTION AND DEVELOPMENT
Developer Vista Property and Skender reached the final height for their new 21-story, 201K SF mixed-use multifamily building at 741 North Wells St. in Chicago’s River North neighborhood.
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Krusinski Construction Co. completed a 54K SF expansion at Camcraft’s industrial warehouse facility at 1361 Schiferl Road in Bartlett, completing the development and expansion plan that began in 2017.
THIS AND THAT
Draper and Kramer Inc. announced that 11 of its rental communities were named 2022 Resident Satisfaction award winners by SatisFacts. The firm’s North 680 rental community in Schaumburg also won an ApartmentRatings Top-Rated award for resident satisfaction.
