This Week's Chicago Deal Sheet

Many suburban companies have been seduced by the lure of downtown Chicago and picked up stakes, chasing a younger talent pool and swankier digs. But there are many more companies that choose to remain in the burbs. Hyundai Motor America recently completed its move to TransAm Plaza Two in Oakbrook Terrace.

Hyundai’s Debra Streff worked with Cushman & Wakefield’s Donald Yahn, Brett Swartzbaugh, Jordan Rovito, Jason West, Sean Henrick and Michael Magliano to secure the 18k SF lease on the top floor of the five-story office building earlier this year. The lease with landlord American Landlord Properties is valued at more than $4M. JBS Commercial repped the landlord. Hyundai recently sold a 351k SF industrial facility at 1705 Sequoia Ave in Aurora to Cabot Partners in a separate sale-leaseback transaction valued at nearly $25M.

SALES

KIG’s Susan Tjarksen brokered the $16.6M sale of a quarter-acre parking lot at 1022-28 North Dearborn Pkwy. The Ruth Page Foundation sold the lot to Lexington Homes, which will build a 28-story luxury condo tower on the site (rendering shown).

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Inland Brokerage & Consulting’s William Dozier repped the seller in the $1.2M sale of a 42k SF, three-unit retail center at 18100-18130 South Halsted in Homewood.

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Pine Tree announced the $51.5M purchase of Metro Crossing Shopping Center, a 300k SF retail center in Council Bluffs, IA. CBRE’s George Good brokered the acquisition, which brings Pine Tree’s total transaction volume over the past 30 months to $800M.

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Avison Young’s Eric Fischer, Keith Puritz, Brett Kroner and Michael Scadron repped Lake County Fair Association in its sale of 18 acres at Peterson and Midlothian roads in Libertyville. The buyer, a private investor, bought an adjacent 62-acre site earlier this year and plans to build an industrial park with buildings ranging from 50k SF to 600k SF.

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The Boulder Group’s Randy Blankstein and Jimmy Goodman completed the following transactions:

• The duo repped the seller in the $2.6M disposition of two Family Dollar stores at 927 US Route 24 in Monroe City, MO, and 103 North 25th St in Bethany, MO.
• Randy and Jimmy repped both parties in the $4.2M sale of a three-tenant net-leased retail center at 253 South Weber Road in Romeoville (pictured).

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Marcus & Millichap’s Tami Andrew and Tammy Saia repped the seller in the $1.3M disposition of the DuPage Medical Group building at 7409 Woodridge Drive in Woodridge. The property is fully leased at market rents.

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Adelphia Properties’ Simeon Spirrison and George Spirrison repped the seller of a former Grandma Sally’s restaurant on Ogden Avenue in Naperville. The buyer is a national fast food operator.

LEASES

HSA Commercial Real Estate completed a 64k SF, long-term lease renewal with AllStates Trucking at Park 94, a 184-acre business park in Mount Pleasant, WI (pictured).

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Mid-America Asset Management completed the following leases:

• Samantha Schnell repped the landlord and Kevin McLoughlin repped tenant Michaels in a 20k SF lease at Promenade at Bolingbrook North at the northwest corner of Boughton Road and I-355 in Bolingbrook.
• Marget Graham and Sarah Drumgould repped the landlord in a 12k SF lease with Ulta at Poplar Creek Crossing at the southwest corner of Routes 59 and 72 in Hoffman Estates. GreatStreet Realty’s Bill Argall repped the tenant.
• Marget Graham and Sarah Drumgould repped the landlord in lease renewals with The Chalkboard and Five Below for 9,059 SF and 7,849 SF, respectively, at Finley Square at the northeast corner of Butterfield and Finley roads in Downers Grove. The Chalkboard was self-repped. GreatStreet Realty’s Tim Miller and Steve Pilafas repped Five Below.
• Samantha Schnell repped the landlord in a 7,005 SF lease with Carters Osh Kosh at Colonial Plaza at the northwest corner of Veterans Parkway and Illinois Route 9 in Bloomington. Kerry Development’s Judy Sullivan repped the tenant.

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Darwin Realty completed the following leases totaling 91k SF:

• Noel Liston and Brendan Sheahan repped DCT Industrial in its lease of 1575-1595 High Point Drive in the DCT Business Center, Elgin. The 32k SF unit was leased to Dynacast as an expansion to its existing facility within the park.
• Noel Liston and Doug Pilcher repped DCT in its 33k SF lease to Marvel Engineering at 450 Lombard Road, Addison. Marvel Engineering was repped Darwin’s Adam Haefner.
• Noel Liston repped ownership in a 26k SF deal at 2525 Bath Road in Elgin (shown) to Compass Automation. Cushman & Wakefield’s Josh Feldman repped the tenant.

FINANCING

Capital One provided a $33.6M term loan to a JV of Harrison Street Real Estate Capital and MedProperties Group for the acquisition of a four-building medical office portfolio in the Chicago area. The commitment includes $26.8M in initial funding, a $6M tenant improvements/leasing commissions holdback and a $750k capital expenditure holdback.

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HFF worked on behalf of Transwestern Investment Group to secure a five-year, fixed-rate acquisition loan for a five-property, 1.4M SF fully occupied industrial portfolio in the Chicago area.

HIRES/PROMOTIONS

Avison Young hired Jesse Slack and Kevin Donohoe as SVPs in the firm’s landlord representation services. The duo’s primary focus will be leasing AY’s growing Class-A portfolio in the CBD. Jesse and Kevin were most recently at MB Real Estate.

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The Habitat Co hired Lori Chacos as VP and general counsel. She will be involved in all legal aspects of Habitat’s acquisition, development and management services, and will provide various legal services to its property portfolio. Lori comes to Habitat from Joseph Freed & Associates.

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JLL hired Matt Powers as EVP in the firm’s retail/e-commerce distribution platform. Matt was previously director of realty acquisitions for Walmart, where he was responsible for a 150M SF portfolio.