This Week's Chicago Deal Sheet
A new Chick-fil-A is on its way to Chicago's South Side after the city's Plan Commission cleared the way to begin transforming a vacant off-track betting facility into a new restaurant.
Chicago Neighborhood Initiatives is developing the new Chick-fil-A restaurant on a 6-acre parcel across from the Pullman Park mixed-use development.
“By attracting the kind of development our residents have told us they want, we’re steadily building a vibrant community where more people will want to go to live, work and visit," 9th Ward Alderman Anthony Beale said in a press release.
The chain's plans for a second South Side location come as it rolls out a larger Chicago expansion, including a new O'Hare International Airport restaurant, the Chicago Business Journal reported. Construction of the new restaurant is expected to start in the spring and finish in the fall.
PEOPLE
Lee & Associates promoted three people across its industrial and office platforms.
The company tapped Andrew Block as its executive vice president. Block has been with Lee & Associates for over seven years, focusing on Chicago’s west suburban marketplace.
Carole Caveney was promoted to senior vice president. Caveney specializes in the leasing and disposition of office and commercial properties as well as land sites and represents tenants and buyers.
The company also promoted Dylan Maher to senior vice president. Maher's work centers on industrial leasing and sales in the South Chicago, South Cook and Interstate 55 Corridor markets.
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Continental Realty Corp. hired Bridget Goggin as its senior commercial property manager. Goggin will oversee all asset and property management functions for a portfolio of five retail centers encompassing roughly 1M SF in the Chicago suburbs. She will be tasked with increasing the value of the shopping center portfolio.
LEASES
Lee & Associates of Illinois represented ownership in the negotiation of a 229K SF lease extension to Tru Vue at 9400 W. 55th St. in McCook. Company principals Terry Grapenthin and Ryan Earley represented the owner, High Street Logistics Properties.
THIS AND THAT
The Goldie Initiative, an organization centered on preparing women for senior leadership roles in all sectors of commercial real estate, is expanding its mentorship and scholarship program in the U.S. Northeast region. The group began its expansion with events in New York City and Philadelphia, which drew over 250 people in commercial real estate. In April, The Goldie Initiative will start networking events in Boston.
