This Week's Chicago Deal Sheet

The Chicago industrial market is in a boom period of construction activity. IDI Gazeley just delivered one of the largest spec developments in the market last week.

IDI Gazeley broke ground on the 750K SF warehouse last July, the first in the new Chanhannon Corporate Center. It features 86 dock doors (expandable to 170), 440 parking spaces, 192 spaces for trailer parking, an ESFR sprinkler system, a 185-foot all-concrete truck court and a six-inch Ductilcrete floor system.

Jim Brucato was principal on the project, Darrin Dehmlow served as project manager and Doug Brucato served as superintendent. Sparks Architects designed the site. Jacob & Hefner was the civil engineer. IDI Gazeley’s representative was Vice President of Development Jeffrey Smith.

SALES

Baum Realty’s Greg Dietz and Danny Spits repped the seller in the $3.4M sale of 1421-27 North Milwaukee Ave., a 26K SF assemblage of mixed-use buildings in Wicker Park.

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Kiser Group completed the following transactions:

• Danny Logarakis and Victoria Michael brokered the $1.3M sale of a six-unit building at 1763-65 West Sunnyside.
• Michael D’Agostino and Ben Smith brokered the $975K sale of a three-unit building at 3571 West Armitage.
• Aaron Sklar and Danny Logarakis brokered the $733K sale of a 24-unit building at 7110 South East End.
• Aaron Sklar and Rick Ofman brokered the $500K sale of a five-unit building at 4301 West Fullerton.

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Mid-America Real Estate’s Joe Girardi and Wes Koontz were the sole brokers in the $20M sale of a 74K SF Mariano’s Fresh Market at Roosevelt and Finley roads in suburban Lombard. The seller was Bradford Real Estate.

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CBRE’s John Jaeger, Dan Cohen, MJ Zaring, Jaclyn Fitts and William Vonderfecht partnered with RBC Capital Markets’ Kevin Hoecker and Chris Good to represent Educational Advancement Fund in the $201M sale of University Center at 525 South State St. CBRE’s Peter Marino, Molly Green, Mike Bryan, Jon Wooton and Ben Roelke secured the financing on behalf of the buyer, a joint venture of AXA Investment Managers – Real Assets and Blue Vista Capital Management.

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Interra Realty’s Jeremy Morton and Ted Stratman represented both parties in the $3.1M sale of a 13-unit mixed-use property at 1157 West 18th St. in Pilsen. At over $238K/unit, it is the second-highest per-unit sale in Pilsen history.

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Essex Realty completed the following transactions:

• Brian Kochendorfer, Brian Karmowski and Troy Beebe were the sole brokers in the $1.8M sale of 428-432 Park Blvd., a 20-unit multifamily property in Glen Ellyn.
• Steve Livaditis and Joe Scheck were the sole brokers in the $1.8M sale of 1833 West Evergreen, a two-unit building in Wicker Park. It marks the highest price for a two-unit building in Wicker Park in the past 24 months.

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First Western Properties’ Bradford Dessy repped the buyer in the $2.5M sale of 1000 and 1050 Corporate Blvd. in Aurora. O’Donnell Commercial Real Estate’s Kevin O’Donnell and Meredith Klug represented the seller.

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The Boulder Group completed the following transactions:

• Randy Blankstein and John Feeney represented the seller in the $2.1M sale of a fully leased three-tenant property at 701-709 East Lincoln Highway in New Lenox.
• Randy Blankstein and John Feeney represented the seller in the $5.6M sale of a single-tenant, net leased 7-Eleven property at 4609 Colt Road in Frisco, Texas.
• Randy Blankstein and Jimmy Goodman represented the seller in the $2.4M sale of a single-tenant net-leased DaVita Dialysis property at 111 Tarhe Trail in Upper Sandusky, Ohio.

LEASES

Savills Studley’s Renae Bradshaw, Eric Feinberg and Robert Sevim represented Leopardo in a 24K SF lease at 210 North Carpenter, a 12-story, 200K SF building under construction by Sterling Bay.

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CBRE completed the following transactions:

• Jason Lev and John Suerth represented Bridge Development, and CBRE’s Steve Livaditis represented Frozen Assets Cold Storage, in a 132K SF lease at Bridge Point Northlake at 555 Northwest Ave. in Northlake.
• Mark Cassata and Bill Sheehy represented 4C Insights in a lease expansion at 1 East Wacker. 4C Insights will increase its footprint to 14K SF, triple the firm’s original space.

HIRES/PROMOTIONS

Moderne Ventures hired Brett Fink as director of partnerships. He came from 500 Startups, where he was on the business development team at one of the first and most well-known accelerator programs in Silicon Valley. Fink will work with technology companies and members of the Moderne Network to build relationships within the technology and business services industry.

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Peak Construction made the following hires:

• Peter Bornhoff and Maximiliano Oliveras joined the firm as project engineers.
• Tyler Sullivan was hired as a project superintendent.

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Wight & Co. hired James Michaels as design principal. Michaels came from Skidmore Owings & Merrill, where he was associate director and studio head. He specializes in mixed-use high-rise, office, luxury residential and hospitality projects.

KUDOS

Ellerman Brokerage joined Sperry Commercial Global Affiliates as its first Chicago-area brokerage. Led by David Ellerman, Ellerman Brokerage specializes in office investment sales and industrial tenant representation.

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The Opus Group completed construction of Uptown LaGrange, a five-story, 254-unit apartment building in suburban LaGrange. The development sits on the former site of the Rich Port YMCA and features floor plans ranging from studios to three-bedroom units, including three walk-up units on the ground level.