Becovic Residential acquired The Winthrop 5411 at 5411 N. Winthrop Ave. in Edgewater for about $17.4M.
The Winthrop 5411
The Winthrop 5411 features 96 apartment units, including 63 one-bedroom units and 33 two-bedroom, two-bath units. The property also offers two elevators, a fitness center, a community patio, and 56 parking spaces underneath the building.
“We are excited to add a beautiful property located in such a great location, between Andersonville and the lake,” Sal Becovic, president of Becovic Residential, said in a press release.
Kiser Group Advisors' Jacob Price and Katie LeGrand led the sale process and the deal was financed by JPMorgan Chase.
PEOPLE
Leopardo promoted Superintendent Shawn Buehler to director of Leopardo’s field operations. He joined Leopardo in 2005 and has overseen and managed high-profile projects and a team of superintendents. In his new role, Buehler will be responsible for leading and implementing strategies for Leopardo’s field operations.
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Trammell Crow Co. promoted Josh Udelhofen to principal. Udelhofen, based in Chicago, joined the firm two years ago as a senior vice president to support the team’s multifamily development growth in St. Louis. Since then, he has transitioned into spearheading TCC’s industrial development team throughout the Midwest.
SALES
Bill Silverstein, owner of Beal Properties, purchased 1344 North Dearborn, a 94-unit multifamily high-rise in Gold Coast for $27M from Ravinia Capital Group. The property was 95% occupied at the time of the sale. Berkadia Chicago Managing Director Ralph DePasquale led the transaction on behalf of the seller.
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Kiser Group closed three multifamily deals in West Ridge. A local buyer purchased 7256 N. Bell Ave., an eight-unit building, for about $1.2M from a local seller. Casey Capital Partners paid about $1.8M for 7228 N. Bell Ave., a six-unit building, in a deal with Winnemac Properties. Finally, a local buyer purchased 6124 N. Talman Ave., a six-unit property, for $940K in a cash deal from a local seller.
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Ares Management Corp. purchased a 356K SF investment property at 2200 Sullivan Road in Aurora for upward of $70M. The speculative building was developed by Panattoni in 2022 and was 75% leased at the time of closing. Core Industrial Realty's Noel Liston and Nick Krejci facilitated the sale.
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6405 N. Wayne Ave.
Interra Realty brokered two multifamily sales totaling $4.7M in Chicago. A private investor purchased the 16-unit mixed-use apartment building at 6405 N. Wayne Ave. in Rogers Park for $3.4M from a local real estate partnership. A separate buyer purchased a five-unit rental community at 1933 S. May St. in Pilsen for $1.2M from a local developer.
Interra's Brad Feldman represented both parties in the Wayne Avenue deal, while Feldman and Jeremy Morton both worked on the May Street deal.
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A private buyer purchased The Fresh Market grocery store at the corner of Halsted Street and Diversey Parkway for an undisclosed price. Mid-America Real Estate Corp.'s Joe Girardi and Nick Kohlmann brokered the 17K SF property on behalf of the seller.
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AT Holdings purchased a pair of multifamily buildings at 7300 S. May St. and 7800 S. Throop St. from Badu Investments for an undisclosed price. Marcus & Millichap's Quentin Benedetto, Kyle Stengle and Jack Stanton marketed the property on behalf of the seller and procured the buyer.
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An offshore investor advised by Metzler Real Estate bought a 40K SF, Class-A food-grade facility at 716 E. 111th St. from Ryan Cos. The building is 100% leased by Whole Foods Market. Colliers' Jeff Devine, Steve Disse and Tyler Ziebel represented Ryan Cos.
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An undisclosed buyer purchased a 24-unit adaptive reuse apartment building at 4520 N. Beacon St. in Uptown for $9.5M from another North Side owner. Essex Realty Group's Kate Varde, Doug Imber and Rick Ofman represented the seller. Ofman represented the buyer as well.
LEASES
Club Studio Fitness signed a 45K SF lease spanning the first, fourth and fifth floors of The Saint Grand. The development at 535 N. St. Clair also reached 95% occupancy on its apartment units.
CONSTRUCTION AND DEVELOPMENT
Leopardo Construction broke ground on two new fire stations in Aurora. The two new stations are Fire Station 13, near the Chicago Premium Outlets mall and the future Hollywood Casino, as well as Fire Station 9 at 7S300 Eola Road. The fire stations will help reduce emergency response times.