This Week's Chicago Deal Sheet

The Missner Group bought Oxxford Clothes' West Loop HQ last September. Now Missner is helping Oxxford with its relocation.

The Missner Group began building out Oxxford Clothes' new 40k SF HQ at 5635 South Archer (shown) in Garfield Ridge, near Midway Airport. The build-out will include a large production area, office space, conference facilities, dressing rooms, a lounge area, a reception center and distribution facilities. The Missner Group will provide all-new finishes, coupled with significant mechanical, electrical and plumbing system upgrades.

Kent Nepras will serve as project manager, with Gary Bertoncini as superintendent. Gemini Associates is providing architectural services, and Larry Goldwasser of Cushman & Wakefield was the broker for Oxxford Clothes.

SALES

SVN | Chicago Commercial’s Scott Maesel repped a JV of Shapack Partners and Focus Development in the $5M acquisition of 170 North Halsted St. (pictured). The site and an adjacent 20k SF parcel will be redeveloped into a 250k SF office building with 20k SF office floor plates and ground-level retail.

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The Boulder Group’s Randy Blankstein and Jimmy Goodman repped the seller in the $6.5M sale of a single-tenant, net-lease Walgreens at 1180 Arcade St. in St. Paul, Minn.

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Cushman & Wakefield’s Nick Kanich completed the following transactions:

• Kanich repped the seller in the $6.5M sale of a single-tenant Bank of America ground lease in Skokie. The new owner will benefit from a 15-year lease term with 10% increases every five years, and five subsequent five-year renewal options.
• Kanich repped both parties in the $2M sale of a 1.2-acre site at 5501 South Kedzie Ave. in Chicago. The buyer will redevelop the site into a retail shopping center.

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Interra Realty’s Jon Morgan and David Goss repped Alvarez & Marsal Property Investments in the $15M acquisition of 303 East Erie St. from Cedar Street. Interra Realty also facilitated the lease of the ground-floor restaurant space to Concrete Cowboy, a bar and restaurant originally based out of Texas that is set to open in the next few months.

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Quantum Real Estate Advisors’ Chad Firsel repped both parties in the $3M sale of Cantera Commons, an 18k SF shopping center at 28341-28361 Diehl Road (pictured) in Warrenville.

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Stan Johnson Co.’s Brandon Duff, Brad Feller, Tom Fritz and Josh Pardue repped both parties in the $7.9M sale of 400 South Financial Place, a ground-level retail center in the downtown business district. The buyer is Belgravia Group, which will hold on to the property for now.

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Essex Realty’s Jim Darrow and Jordan Gottlieb repped both parties in the $1.1M sale of 2020 North Spaulding Ave., an eight-unit apartment building in Logan Square.

LEASES

CBRE’s Kyle Kamin, Jon Milonas and Dan Persa repped Nitel in its 32k SF lease at River North Point, 350 North Orleans. Nitel will vacate its 20k space at 1101 West Lake St. The new offices are fully built-out, and Nitel will make modest improvements to accommodate density.

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NGKF’s Mike Davidson, Chris Dowell and Dan Labes completed a 154k SF lease on behalf of owner Schostak Brothers & Co. with Anji-CEVA at 13301 Stephens Road in Warren, Mich.

FINANCING

HFF’s Mike Kavanau and Danny Kaufman arranged $78M in construction financing for the first tri-branded Hilton hotel project at McCormick Place. HFF worked on behalf of the developer, a JV of Michigan Cermak Indiana and First Hospitality Group, to place the construction loan with The PrivateBank.

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SomerCor 504 completed the following transactions:

• Chicago Vein Institute obtained $451k in financing to construct a 10k SF property at 2337 West Irving Park Road in Chicago.
• Nilco obtained $279k in financing to purchase a 20-acre site to construct a 7,680 SF building at 13503-13505 IL Route 176, Woodstock.
• Busy Beaver Button Co. obtained $327k in financing to purchase a 6k SF commercial property at 3407 West Armitage Ave. in Chicago.
• Parto Naderi acquired $483k in financing to purchase a 6k SF office condo at 507 North Wells St. in Chicago.
• Bendsen Signs & Graphics obtained $344k in financing to purchase an industrial building at 1506 East McBride Ave. in Decatur.
• Crandall's Restaurant acquired $314k in financing to purchase a 44k SF restaurant building at 10441 IL Route 47 in Hebron.

HIRES/PROMOTIONS

Faris Lee Investments hired Gene Ventura as senior managing director. Ventura brings 30 years as a retail and office developer to the role and will be charged with client development, increasing transaction volume and anchoring Faris Lee’s new Chicago office.

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Quantum Real Estate Advisors hired property management and investment expert Zack Hilgendorf.