This Week's Chicago Deal Sheet
The American Dental Association is moving its headquarters to 401 N. Michigan Ave. after 60 years at its previous location at 211 E. Chicago Ave.
The company will occupy the top three floors of the building and a portion of the 32nd floor, or 70K SF, as of Q1 2025. ADA’s lease consists of 9.4% of the building’s total rentable space, bringing the building’s occupancy to 88.4%.
“The ADA is thrilled to be relocating to 401 North Michigan Avenue,” Raymond Cohlmia, ADA Executive Director, said in a press release. “This move allows us to remain in the heart of Chicago on the Mag Mile, and we are excited about the enhanced opportunities and amenities this new location offers our employees and our mission.”
The transaction was facilitated by a joint-venture leasing team led by Marshall and Zeller’s Howard Meyer, who represented Walton Street Capital's building ownership. JLL's Jeff Liljeberg and Jamie Fink represented ADA.
PEOPLE
Redmond hired Brian Sanders to work as a project executive in the firm's science and technology division. Sanders brings over 25 years of construction industry experience and a portfolio of lab and cleanroom projects for large institutions and leading corporations.
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Lee & Associates added Brandon Pappas to the firm as vice president of data analytics and business development. In the role, Pappas will oversee all of the firm’s research initiatives and spearhead market analysis.
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Kiser Group is promoting Jackson Medina, Noah Shutan and Hunter Wern from associates to advisors. The three have significantly contributed to the success of the firm's Midwest team.
SALES
Inland Private Capital Corp. sold a 101K SF retail property at 1432-1434 Butterfield Road in Downers Grove to an unnamed buyer for an undisclosed sum. The property is currently leased to Best Buy and Golf Galaxy.
LEASES
R.M. Chin & Associates signed a 15K SF lease at 801 S. Canal St. CBRE’s Bill Sheehy and Brady Wolfe represented the tenant, while Telos’ Jeff Dowdell and Matt Whipple represented 601W in the deal.
CONSTRUCTION AND DEVELOPMENT
McHugh Construction completed the multimillion-dollar renovation of a 191-room, 14-story hotel at Wacker and Wabash avenues in Chicago. The hotel opened as L7 Chicago, South Korea-based Lotte Hotels & Resorts’ first L7-branded property in North America.
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Cannabis Facility Construction completed two Bud & Rita's dispensaries in the Chicago area for Nature's Grace and Wellness. The new locations are at 5960 W. Touhy Ave. in Niles and 3425 W. Belmont Ave. in Avondale.
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Skender completed a full interior and exterior revitalization of the Barbara Jean Wright Court Apartments at 1000-1038 W. 14th St. in University Village. The 18-month project involved an occupied rehab of the 27-building, 272-unit property where residents relocated during 27 phases of energy efficiency and quality-of-life upgrades.
