This Week's Chicago Deal Sheet

Invenergy broke ground on its Center of Excellence, a $30M clean energy training and manufacturing facility at 790 Remington Blvd. in Bolingbrook.

“The Center of Excellence is Invenergy’s latest investment in the workforce of the future and reinforces our leadership in meeting the growing demand for clean energy,” said Steve Dowdy, Invenergy's executive vice president and operating business leader at the company, in a press release.

The CoE will be comprised of four main components:

• A 35K SF machine shop designed to refurbish and assemble key clean energy components.
• A 30K SF central warehouse to manage and store infrastructure, including long-lead wind turbine and solar components.
• A 35K SF training center and learning lab with the capacity to support over 1,300 clean energy trainees annually.
• A 20K SF Generation Control Center to monitor and control Invenergy’s energy generation assets. 

The 135K SF facility is expected to open in the fourth quarter of 2024 following the build-out of the existing site, which will employ over 250 local construction workers. 

PEOPLE

Lamar Johnson Collaborative hired Lisa Dziekan as principal of economic development. In her new role, Dziekan will be responsible for spearheading projects, initiatives and relationships across Chicagoland and other markets for LJC, Clayco and its subsidiaries. Most recently, she served as senior vice president at World Business Chicago.

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Lee & Associates tapped Marc Siemers to join the firm as an executive vice president. Siemers will help to expand Lee & Associates’ downtown office market coverage.

SALES

A local private family office purchased a 39-unit courtyard apartment building at 5026 N. Kimball Ave in North Park from another local private family office for an undisclosed sum. Essex Realty Group's Brian Keegan, Matt Feo and Abe Eilian facilitated the deal. It was the first time the property had been on the market in nearly 35 years. 

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An undisclosed buyer bought a 42-unit vintage multifamily courtyard building at 1723-1735 W. Thorndale Ave. in Edgewater from an undisclosed seller for $6.6M. Essex Realty Group's Doug Imber, Kate Varde, Steve Livaditis and Matt Feo facilitated the deal.

LEASES

Cristo Rey Network signed a lease to relocate to the Monroe Building at 104 S. Michigan Ave. and expand its space to 11K SF. Savills' John Goodman and Brandon Nasatir oversaw the real estate strategy for Cristo Rey Network.

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Commercial Stainless Services signed a 38K SF industrial building lease at 1401 Glenlake Ave. Lee & Associates' Jeff Janda and Michael Plumb represented the landlord, Prologis. Lee & Associates' Chris Nelson and Calvin Gunn represented the tenant. 

CONSTRUCTION AND DEVELOPMENT

A joint venture between Ryan Cos. and Washington Capital Management broke ground on a 170K SF speculative industrial facility at Pullman Crossings. Pullman Crossings is an over 50-acre industrial park that is part of Pullman Park, a 180-acre, mixed-use development Chicago Neighborhood Initiatives is developing. This project is the third phase of construction and is expected to deliver early next year, with the fourth and final phase expected to kick off later this year.

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Sterling Bay broke ground on an industrial project at Pulaski 55 Logistics Center in Archer Heights. The 148K SF building is slated for completion in December 2024. Sterling Bay acquired Pulaski 55 Logistics Center in August 2023 in partnership with Affinius Capital.

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Skender finished interior construction on a 100K SF headquarters for software developer Relativity in the Central Standard Building at 231 S. LaSalle St. in the Loop. The new workspace spans the 19th and 20th floors plus terrace space on the 23rd floor. The headquarters features private offices, workstations, meeting rooms, lounge spaces, pantry areas and a boardroom.

FINANCING

Essex Capital Markets closed a $9.5M loan to refinance a 24-unit multifamily property in Old Town. The property is a luxury mixed-use building in Old Town featuring 23 high-end apartments and a ground-level retail space occupied by Philz Coffee. The financing, originated by Essex's Darragh Griffin and Quinn Keenan, was secured on behalf of a local private investment group.