This Week’s Chicago Deal Sheet
Bear Construction completed the first newly built Boys & Girls Club of Chicago in nearly 30 years.
Construction on the 23K SF Rusu-McCartin Boys & Girls Club, which features an educational programming area, makerspace and an NBA-sized basketball court, began in May 2022, and the facility opened on Friday. The building is located at 4411 West Chicago Ave.
The last new club, the James Jordan Boys & Girls Club, opened Aug. 1, 1995, per a press release from former Mayor Lori Lightfoot’s office.
“We pride ourselves on building unique and critical community amenities,” Dennis Hill, senior vice president of Bear Construction, said in a release. “This new development here on Chicago’s West Side is an important community investment, and one that we were proud to be involved in bringing to life.”
PEOPLE
JLL tapped Jackie Shropshire, the company’s senior vice president, to lead JLL’s Chicago industrial business. Shropshire will run day-to-day operations for the Chicago region, managing a team of over 50 people and helping to develop the firm’s industrial business in the city and in the Midwest at large. Shropshire joined JLL in 2021 following leadership stints with Stryker and Zimmer Biomet.
***
Blank Rome added a trio of hires to its Chicago real estate group: partner Joel Sestito, counsel Rachel Mather and associate Olivia Ortiz. The company brought in Sestito, Mather and Ortiz to beef up its capability to represent lenders in complex real estate and commercial loan deals. Prior to arriving at Blank Rome, Sestito worked with lenders across a multitude of sectors on multimillion-dollar commercial loan transactions.
***
Farbman Group bolstered its roster of Midwest commercial real estate talent by adding five members to its regional team. Jonah Gutman joined as a property manager, while Jim Hyer and Long Trinh entered the company as staff accountants. Farbman Group hired Nina Aloisi as a senior property manager, and Artist Montgomery was tapped as a community manager.
SALES
Marcus & Millichap facilitated the sale of 11036 South Kilbourn Ave., a 12-unit apartment property in Oak Lawn. Senior Managing Director of Investments Ryan Engle, Senior Vice President of Investments Andrean Angelov and associate Zack Mahoney had the exclusive listing to market the property on behalf of the seller. Both the buyer and seller were private investors represented by Marcus & Millichap.
***
Greenstone Partners sold a mixed-use 11.5K SF property at 2200 West Lawrence Ave. for $3.6M. The Lincoln Square building features two retail units at its base — Roots Pizza and The Sixth — and six apartment units above them. Greenstone partners Danny Spitz, Jordan Multack and Tom Galvin exclusively represented the seller and found a New York-based private investor to buy the property.
***
Greenstone Partners also completed the sale of 1643 North Damen Ave., a two-story property made up of one ground-floor retail unit and one apartment unit on the second floor. The property is in the center of Wicker Park, close to the busy six-way intersection of North, Damen and Milwaukee avenues. Greenstone Partners exclusively represented the seller and found the buyer.
LEASES
Sterling Bay is accepting rental applications for The Dylan at 160 North Morgan St., the developer’s first residential tower in Fulton Market. Renters looking for a luxury apartment in the neighborhood will be able to choose from one of 282 units ranging from studios to three-bedroom apartments.
CONSTRUCTION AND DEVELOPMENT
Blue Vista Capital Management acquired 11 self-storage, industrial and build-to-rent properties across the U.S., which represent over $150M in market capitalization. Between three new self-storage properties set to be developed and two existing self-storage facilities, the firm will add about 451K SF in self-storage space.
THIS AND THAT
Norton Rose Fulbright, a global law firm, finalized a move into 17K SF of office space in Fulton Market on the top floors of 1045 West Fulton St. The firm worked with Geniant and EastLake Studio to design the space, which includes a number of multifunctional open areas.
