This Week's Chicago Deal Sheet

A growing number of Chicago developers are finding great deals in Milwaukee. The latest player 90 miles to the north: NEXT Realty, which purchased three retail centers from Zilber for $17M.

The assets include Autumn Grove Plaza, 12850-12960 W Blue Mound Rd in Elm Grove; Greenfield Towne Center, 6100-6196 W Layton Ave in Greenfield; and South Towne Center (shown), 3700-3750 S 27th St in Milwaukee. Next Realty operates an investment portfolio totaling 1M SF and valued at $250M, with 1,500 properties in Chicago, Philadelphia, San Francisco and Tennessee.

SALES

Baum Realty’s Danny Spitz repped 3115 Properties in the $5.8M acquisition of 3115-23 N Broadway in Chicago (pictured) from Barrett Capital. CBRE’s Keely Polczynski repped the seller.

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The Boulder Group’s Randy Blankstein and Jimmy Goodman repped both parties in the $9.3M sale of a single-tenant net leased Walgreen’s at 3019 W Peterson in Chicago. The seller was a private investor. The buyer was a 1031 exchange investor based on the West Coast.

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First Western Properties’ Paul Tsakiris and Mark Zeglen repped both parties in the sale of 336-342 W Marquette Rd, a recently rehabbed eight-unit apartment building in Chicago.

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Interra Realty’s Dan Byrne repped both parties in the $3.6M sale of a 52-unit multifamily property at 7255-71 S Shore Drive in Chicago (pictured).

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Greenstone Partners repped both parties in the sale of three single-tenant net leased properties in Orland Park: 15765 Harlem Ave, 15801 Harlem Ave and 15711 Harlem Ave.

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Marcus & Millichap’s Nick Hillard, Josh Caruana and Scott Harris repped both parties in the $1.2M sale of Hampshire Court, a 45-unit apartment property at 510 W Dustman Rd in Bluffton, IN.

LEASES

NAI Hiffman completed the following leases:

• Mark Moran, Steve Connolly and Brett Tomfohrde repped TIAA in its lease renewal for 35k SF with Cable Plus at 2012 Corporate Ln in Naperville. Transwestern’s Justin Lerner repped the tenant.
• Mark Moran, Steve Connolly and Brett Tomfohrde repped College West in its new lease with Tecta Roofing for 16k SF at 4813 Kingston Dr in Lisle. Mohr Partners’ Brandon Glick repped Tecta Roofing.
• Mark Moran and Brett Tomfohrde repped Canino Electric, which leased 12k SF at 41 Plaza Dr in Westbrook.
• Dan O’Neill, Jeff Fischer and Howard Bergdoll repped Dukes Bridge in its 13k SF lease with Pharmacy Alternatives at 501 W Lake St in Elmhurst (shown).
• Joe Bronson and Howard Bergdoll repped Isaac Sargis in a new lease with Advanced Turf Solutions for 20k SF at 1225 Lunt Ave in Elk Grove Village.
• Ben Cremer, Mike Robbins and David Haigh repped DuPage Machine Products in its new lease with Abrasive Form for 48k SF at 99 Internationale Blvd in Glendale Heights.

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Adelphia Properties’ Simeon Spirrison repped Summer Classics Home Furniture in its 6,900 SF lease at Renaissance Place, 1850 2nd St, Suite #162, in Highland Park (pictured).

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Thor Equities announced an 857 SF ground-level retail lease with Sugar Bliss Cake Boutique inside the Palmer House Hilton.

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Darwin Realty’s Noel Liston and Brendan Sheahan repped DCT in two new leases totaling 291k SF at DCT Business Center Elgin:

• 151k SF at 305-325 Corporate Dr. Avison Young’s Mike Fonda repped the tenant.
• 141k SF at 350-370 River Ridge Rd. Summit Realty’s Jimmy Cohoat repped the tenant.

HIRES/PROMOTIONS

CBRE announced Joe Conroy joined the firm as a senior manager in its asset services group. Joe was manager at APL Logistics and was at Prologis for 15 years.

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@properties Commercial announced Edward Kusztelak joined the firm as senior broker of auction services. Edward was most recently at Tranzon-Edwards Realty Advisors & Auctioneers, where he was president for the last six years.

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The Missner Group named Bob Nomellini COO. A 40-year industry veteran, Bob will oversee the day-to-day operations of the firm’s construction business, including all aspects of each construction project from the strategic planning process to closeouts.

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MB Real Estate promoted Kathleen Bertrand to SVP and Kelsey Scheive to VP. Kathleen, a 10-year veteran, reps Michigan Plaza in the East Loop and has brokered or co-brokered 223 transactions totaling 2.3M SF and closed 205k SF in the last 12 months. Kelsey has completed over 630k SF in leases since joining MBRE in 2012.

KUDOS

AMLI Lofts was named 2015 multifamily development of the year by NAIOP Chicago, and was recognized as residential construction project of the year by CISCO.