This Week’s Chicago Deal Sheet
Barstool Sports moved into its new 40K SF office space at 400 N. Noble St., just west of Fulton Market.
The controversial sports media company converted most of the two-story former packaging and production building into a workplace for roughly 60 employees. The office features a basketball court, golf simulator, commercial kitchen, three broadcast studios, nine podcast studios and a series of offices, Crain’s Chicago Business reports. The project cost $20M.
The company announced in April it would move some of its New York City-based operations to Chicago, including sports podcast Pardon My Take.
"They were looking at this as a 'fantasy factory' where content could be created, really anywhere throughout the entire office," Jackie Wilcox, an associate partner at BKV Group, which designed the facility in partnership with Chicago-based Two Fourths Studio, told Crain’s.
Some of the company’s team that was previously based in New York City moved to the Chicago office, but Barstool’s headquarters remains in New York.
PEOPLE
The Real Estate Center at DePaul University named Reagan Pratt as its director. Pratt has more than 30 years of commercial real estate experience. In his role, Pratt is responsible for expanding the center through outreach to the real estate community in Chicago and across the country, as well as advancing its reputation and stature. Pratt also joins the faculty at DePaul and will teach a variety of classes in the graduate and undergraduate real estate programs.
***
Spark, an environmental branding firm, added Zak Jacobs to its roster of employees. Jacobs will expand the firm’s commercial staging capabilities to include offices, amenity spaces, commercial spaces, greenery installations and seasonal staging. Prior to joining Spark, Jacobs founded Suite Professional Staging, a full-service commercial staging and decor company.
SALES
JLL Capital Markets closed the sale of Aurora Commons, a 126K SF open-air retail center in Aurora. JLL represented the seller, IRC Retail Centers, and Sperry Equities acquired the asset. The center is 75% occupied and is anchored by Ross Dress for Less and Dd's Discounts. Additional tenants include Five Below, Dollar Tree, T-Mobile and H&R Block.
***
Mid-America Real Estate Corp. brokered the sale of three Illinois shopping centers to First Tek Inc. The three properties are the 173K SF Chestnut Court in Darien, the 109K SF Prairie Crossings Shopping Center in Frankfort and the 54K SF Nantucket Square in Schaumburg. Mid-America Real Estate principals Rick Drogosz, Ben Wineman and Joe Girardi were the exclusive brokers in the transactions on behalf of IRC Retail Centers/DRA Advisors.
***
Quantum Real Estate Advisors Inc. brokered the sale of a 78K SF shopping center at 1320 N. Route 59 in Naperville for $7.1M. At the time of sale, the property was 95% occupied. The buyer and seller were both investors based in Illinois. Quantum Real Estate Advisors Vice President Brett Berlin represented the seller.
LEASING
Lee & Associates negotiated a lease renewal for 106K SF at 2551-2561 Allan Drive in Elk Grove Village. Lee & Associates principals Kenneth Franzese and John Cassidy represented the tenant, Logisteed America Inc. Colliers’ Jonathan Kohn and Chris Volkert represented the landlord, LaSalle Investment Management.
