This Week’s Chicago Deal Sheet
The Lowe Group, a Compass real estate team founded by CEO Jeff Lowe, is expanding into Chicago’s North Shore.
Grace Kaage, former Compass managing director for Illinois and Indiana, will spearhead the launch of the Lowe Group North Shore. Kaage previously led a top-producing real estate team before transitioning to support sales leaders responsible for billions in real estate transactions across multiple states, the company said.
“This presents a tremendous opportunity to build upon the team's stellar reputation and deliver exceptional service to clients in this vibrant market,” Kaage said in a press release. “I am excited to collaborate with the talented professionals at the Lowe Group and contribute to our shared vision of reimagining real estate excellence.”
In her new role, Kaage will lead the North Shore division, leaning on her background in brokerage, design and development.
PEOPLE
Waterton appointed Don Larsen as senior vice president of capital program management. Larsen, who comes to the company with 30 years of experience in construction leadership, will be based in Chicago and guide the capital program management team in aligning project budgets and timelines with company objectives. Prior to joining Waterton, Larsen served as the executive vice president at McWhinney Co., where he was responsible for project delivery across various business units.
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Transwestern Real Estate Services added Steve Degodny to its team as executive vice president with the suburban Chicago agency leasing team. Degodny will advise building owners and execute customized marketing and leasing programs for office space throughout the Chicago suburbs. Degodny joins Transwestern from Golub & Co. where he oversaw the leasing of commercial properties for its suburban Chicago portfolio.
SALES
Brown Commercial Group negotiated the acquisition of a 30K SF industrial facility that will allow a growing food services company to expand. Partner Trinity Scurto represented Ideal Bakery, a wholesale bakery company, in the purchase of the facility at 1250 Pratt Blvd. in Elk Grove Village. The bakery was looking to expand its operations and its industrial bakery business that supplies goods to multiple Chicago-area locations.
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DarwinPW Realty/CORFAC International completed the sale of a 94K SF industrial building at 5841 W. Dickens Ave. to Elite Auto Corp. DarwinPW Vice President Terry Lynch represented JLO Metal Products in the sale. The former manufacturing facility will be repurposed into a car sales business.
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Fortec acquired the former Barrington School District headquarters for $695K. The 12K SF property in Barrington served as the school district’s headquarters from the early 1970s until 2019. The school district had attempted to sell the property since 2019. Fortec is investing $2.8M to remodel the building and create an adjacent playground where The Nest Schools will open its newest location this summer.
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Marcus & Millichap brokered the sale of Wingate by Wyndham Schaumburg, an 81-room hospitality property in Schaumburg, for an undisclosed price. Marcus & Millichap’s Allan Miller, Chris Gomes, Ebrahim Valliani and Michael Klar had the exclusive listing to market the property on behalf of the seller, a limited liability company.
LEASES
Logistics Property Co. leased 140K SF at its LogiPark 57-80 development in Country Club Hills to Chicagoland Quad Cities Express Inc., a local warehousing and trucking company. The development, comprising 1.2M SF across three buildings, is now fully leased. Chicagoland Quad Cities Express will consolidate two of its locations into the new space.
CONSTRUCTION AND DEVELOPMENT
Premier Design + Build Group started work on a major showroom renovation and expansion project at Abt Electronics in Glenview. Premier will work on the retailer’s second-floor showroom, taking part in selective demolition, new foundations and structural steelwork. It will add 41K SF, including an elevator and restroom facilities. Premier is slated to complete construction in the third quarter.
