This Week's Chicago Deal Sheet

Architecture and planning firm KTGY Group expanded its Midwestern presence by opening a new office at 343 W Erie and merging with PPK Architects.

The new studio will be led by former PPK Architects principals David Kennedy and Craig Pryde (flanking KTGY’s Keith Labus on a Chicago Architecture boat tour). David and Craig bring over 50 years of combined experience as designers in Chicago and have worked together for 23 years before PPK and KTGY merged.

SALES

HFF’s Jaime Fink, Jeffrey Bramson and Mark Katz repped Northwood Investors in the $135M sale of 525 W Van Buren to AEW Capital Management. The 16-story, 523k SF building was 22% vacant at the time of the sale. Northwood paid $95M for a controlling interest in the building three years ago.

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A JV led by the Magnus Charitable Trust bought 601 S LaSalle in the South Loop for $9.9M. The seller, a JV that included CA Ventures' John Dempsey and Bob Gillespie, purchased the seven-story building for $3.9M in 2000 and listed it for $10.5M last November. The 74k SF building was 80% leased at the time it was listed.

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Darwin Realty’s Rick Daly, Noel Liston and Jeff Provenza repped CenterPoint Properties in the sale of a 264k SF building at 2425-2553 Edington St in Franklin Park to a private investor who is expanding its portfolio. Cushman & Wakefield’s Larry Goldwasser and Colin Green repped the buyer.

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Darwin Realty’s Richard G Daly repped buyer Robert C Weisheit Co in the closing of 999 Regency Dr, a 49k SF commercial building in Glendale Heights with 18-foot clear heights, 9k SF of office space and parking for 80 cars.  

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Chicago Real Estate Resources completed the following sales:

• Steven Rapoport repped the seller of 1210 W Lake S, a 12k SF bow truss building currently leased to an automotive tenant, to Marc Realty. CRER’s Nate Gautsche repped the buyer.
• Nate Gautsche repped an out-of-state buyer at 13 W Rand Rd in Mount Prospect.

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Interra Realty’s Joe Smazal and James Clough repped the seller of 4300 N Keystone, an eight-unit apartment building in the Old Irving Park neighborhood, for $675k. The property is a mix of one- and two-bedroom apartments and includes a six-car parking lot.  

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Jameson Commercial’s Michael Schiff repped the buyer and seller in the $1.3M sale of 2032 N Winchester, a seven-unit apartment building in Bucktown, and the $1.2M sale of 2610 W Thomas, a nine-unit apartment building in Bucktown. 

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The Boulder Group’s Randy Blankstein and Jimmy Goodman repped a private partnership in the $7M sale of a portfolio of seven Jiffy Lube stores in Indianapolis. Randy and Jimmy also repped a private seller in the $5M sale of Seasons Inpatient Hospice Facility, a 10k SF facility at 2195 West Diehl Rd in Naperville.

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Essex Realty closed the following sales:

• Jim Darrow and Matt Welke repped the buyer and seller of 2720 W Chicago in West Town (above), for $715k.
• Jason Fishleder and Doug Fisher repped the buyer and seller of 1951 N Fremont, a seven-unit walk-up apartment building in Lincoln Park, for $1.6M.
• Matt Welke and Jason Fishleder repped both parties in the sale of 617 W Fulton, a 16k SF commercial building, for $3M.

LEASES

EnTrust Tenant Advisers negotiated the following leases:

• A relocation of Lambent Risk Management’s offices from 1 N LaSalle to 33 N LaSalle.
• A relocation and space reduction for Mitchell & Titus at 333 N Wacker Dr.
• A move of The Climate Corp from 2 N LaSalle to 950 W Fulton.

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MB Real Estate’s Kevin Purcell, Gary Denenberg and Kathleen Bertrand repped the landlord in a lease of 15k SF at One North Dearborn (above) to Walgreens. The store is expected to open in spring 2016. Keeler Real Estate's Edwin Vdovets repped Walgreens.

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DK Mallon’s Kurt Warnke repped the landlord in the lease of 6,400 SF at Omni Plaza in Lombard to UFC Gym. CENTURY 21’s Marwan Mesaf repped UFC.

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Paine Wetzel’s Phil Reiff Sr and Phil Reiff Jr repped United Global Logistics in a lease renewal at 1475 Thorndale in Itasca, a 12k SF space with eight exterior truck docks and 25 trailer spots.  

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First Western Properties negotiated the following leases:

Laryssa Moros, Marion Abramiuk and Liliya Ilieva repped 2744 W 18th in Pilsen.

Laryssa Moros and Marion Abramiuk repped a lease at 2143-45 S Ridgeland in Berwyn.

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CBRE’s Mark Smith and Bill Saviski repped McKnight Realty Partners in the lease of 32k SF at 1100 E Woodfield in Schaumburg to Fullerton Engineering Consultants. Newmark Grubb Knight Frank’s Wayne Shulman repped Fullerton. 

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CBRE’s Jon Milonas and Jarrett Annenberg repped Mira, a maker of fashionable fitness tracking devices for women, in the lease of 5k SF at 820 W Jackson. 

FINANCING

Cushman & Wakefield’s Trisha Connolly arranged $31.5M in financing for Eleven Hundred LLC, which is developing 30k SF of retail space at 1100 N State. The development will include a 19k SF Urban Outfitters and a Maple & Ash steakhouse.

HIRES/PROMOTIONS

Lee Ffrench joined Sperry Van Ness as a senior adviser. Lee specializes in retail leasing and was previously a senior broker at Properties Commercial.