This Week's Chicago Deal Sheet: Obama Center Breaks Ground On New Building

Construction crews broke ground on the Obama Foundation's Programs and Athletic Center, one of four buildings planned for the 19-acre Obama Presidential Center campus. 

The $830M project will include a gym and studios for recreational, wellness and community activities, serving as a community hub for the South Side.

The athletics facility is one of the last pieces of the larger project, which has been underway for about a decade. Design is being led by Moody Nolan.

“The Obama Presidential Center is a platform to create positive change for our shared future,” Obama Foundation CEO Valerie Jarrett said in a statement to the Chicago Business Journal. “So, we are creating innovative and immersive new forms of storytelling to help inspire people who visit the center.” 

The Programs and Athletic Center is set to open in late 2025, and the Obama Presidential Center Museum is expected to open to the public in 2026.

PEOPLE

Draper and Kramer promoted four team members in its property management division.

The company tapped Kevin Cooky to serve as its assistant vice president, regional property manager and revenue manager. It selected Kurstie Butcher to work as an assistant vice president and regional property manager. Kelli Stuart will fill the role of general manager for two of the company's properties, and Amber Redding will serve as a manager for another. 

SALES

Brown Commercial Group represented Krishiv Foods in the purchase of a 31K SF building at 310-330 W. Charles Court in West Chicago. Krishiv Foods more than tripled its existing space in an off-market deal sourced through Brown Commercial Group’s client network. Mike Antonelli represented the seller, Spare Tire Enterprises, while Matt Hanson represented the buyer. 

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Interra Realty brokered the $11M sale of Madison Terrace, a 96-unit apartment building at 3121-51 W. Madison St. in East Garfield Park. Interra Managing Partners Ted Stratman and Lucas Fryman represented the private buyer and sellers. The buyer assumed the property's mortgage, which carries a sub-3% interest rate.

LEASES

Lee & Associates negotiated a new lease for a 211K SF industrial building at 2525 Armitage Ave. in Melrose Park. Lee & Associates' Jeff Provenza represented the tenant, CCS Contractor Equipment & Supply. CBRE's Colin Green represented the owner.

THIS AND THAT

Intersect Illinois, the state’s public-private business attraction organization, expanded its Be in Illinois campaign to Canadian markets. The campaign will highlight the state as a business destination with assets in place to accelerate Canadian business growth. Canada is the first place the campaign will target outside of the United States, and marketers plan to highlight Illinois-Canada business success stories like Lion Electric, which recently opened the largest all-electric medium- and heavy-duty vehicles plant in the U.S. in Joliet.

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Peak Realty rebranded as Cross Street. The new name represents the important connections and intersecting parts of life and business, according to a press release. The firm plans to expand into more markets that align with the company’s core audience, particularly targeting urban markets.