8/26/13 THE DEAL SHEET - Real Estate Bisnow (CHI)

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National | Atlanta | Austin | Baltimore | Boston | Charlotte | Chicago | Dallas-Fort Worth | Houston | Los Angeles | New Jersey | New York |South Florida | Washington August 9, 2011

THE DEAL SHEETOur next big event: Bisnow's Chicago Healthcare Summit. Tuesday,August 16 at the Mid-America Club. Crazy low $49. Sign up today!

A 27k SF urban retail building at 237 E Ontario St formerly tenantedby the Museum of Contemporary Art and The Film & Tape WorksStudios has signed its first three tenants while the buildingundergoes redevelopment for retail and restaurant use, according toMid-America Real Estate Corp's Steve Frishman.

Signed are Noodles & Company for 3,307 SF, Five Guys Burgersand Fries for 2,520 SF, and 7-Eleven for 1,861 SF. Steve andMidAmerica's Brian Adams brokered the leases on behalf oflandlords Kari Blunda and Clint Mahoney. Noodles & Companywas represented by CR&M Commercial Realty's Marc Rubin. FiveGuys was repped by Mid-America’s Steve Frishman and 7-Elevenwas represented by SRS Real Estate's Adam Cody. A totalrenovation of the building will start this fall.

SALES NEWS

Apple REIT Ten, based in Virginia, acquired three properties from

Sage Hospitality for $36M. Two were Cedar Rapids, Iowa hotels andthe other was an 184-room Hilton Garden Inn at 2425 Barrington Rdin Hoffman Estates, which sold for $10M.

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Marcus & Millichap's Evan Halkias and Michael Marks repped theseller of VitaDialysisCenter, a 6,000 SF single-tenant net-leasedproperty at 13155 S LaGrange Rd in Orland Park. Marcus &Millichap's John Abuja and Jason St John repped the buyer, anLLC, which paid $2.1M for the property.

REAL ESTATE • LEGAL • FED TECH • ASSOCIATION/NON-PROFIT • ENERGY • THE SCENE • DINING • RESIDENTIAL

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LLC, which paid $2.1M for the property.

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Kiser Group's Bill Baumann and John Olar listed and closed threebank-owned properties in Glenwood for $1.2M. 726 E 191st St, 727 EGlenwood-Lansing Rd and 801 E Glenwood-Lansing Rd include 36units. The Kiser Group's Lee Kiser represented the buyer.

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Marcus & Millichap's Evan Halkias and Michael Marks repped thebuyer and seller of Aspen Dental, a 3,455 SF single-tenant net-leased property at 138 Highland Ave in Forsyth. The assets sold for$1.2M, at an 8.3% cap.

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4954 S Martin Luther King Dr was sold by Kiser Group's BradFeldman and Sean Connelly for $300k. The 15-unit bank ownedproperty in the Bronzeville neighborhood has been gut renovated onboth the interior and exterior. Brad and Sean repped buyer and seller.

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Millennium Properties R/E's Susan Silver sold 666 Dundee Rd inNorthbrook for an undisclosed sum. Scott Stainless Steelpurchased the office building from American Chartered Bank.Susan represented both parties in the transaction. The 5,246 SFproperty is part of a larger office complex.

DEVELOPMENT NEWS

DP Partners entered an agreement with Winpak PortionPackaging to develop a 267k SF manufacturing facility in the DPLogistiCenter at Sauk Village. The State of Illinois provided a $1.6Mbusiness investment package to Winpak Portion Packaging to helpfund the new manufacturing facility at 1111 Winpak Way. Theexpansion will create 40 jobs once the facility is complete in spring of2012, with future plans to expand the facility to a full 600k SF on the28-acre site.

LEASING NEWS

Paine/Wetzel · ONCOR International has completed four industrialleases throughout the Chicago area:

Ketchum Wolf has leased 20k SF at 3740 to 42 Hawthorn Ctin Waukegan. Paine/Wetzel's Samuel Badger represented

both the tenant and the landlord, CenterPoint Properties.

Integia Technologies has signed a lease for 12k SF ofspace at 3010 Woodcreek in Downers Grove. Paine/Wetzel'sAdam Naparsteck represented the tenant and Oksana Karasrepped the building owner, Lowe Construction &Management.

Chasers Laser Tag has leased 12k SF at 11545 W 183rdPlace in Orland Park. Paine/Wetzel's Brandon Wrightrepresented the landlord, TCB Development and SkydanReal Esate's Frank Christiano repped the tenant.

Brennan’s Environmental is relocating from LawrenceAvenue in Chicago and has signed a 2,533 SF lease at 954DuPage Ave in Lombard. Paine/Wetzel's Terence Lynchrepped the tenant. Landlord Parkway Development wasself-represented.

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Arthur Rogers & Co's Chris Zannis repped the owner in three newleases at Rogers Business Parke-Elgin in Elgin. In the firsttransaction, Nationwide Appraisals leased 2,900 SF of office space at2521 Technology Dr. Chicagobroker.com's Steven Goldstein reppedthe tenant. In the second, Linear Industries renewed and expandedto 7,800 SF at 2531 Technology Dr. The tenant was self represented.In the last transaction, The McCarthy Group signed an 1,800 SFnew office lease at 2521 Technology Dr. The McCarthy Group alsorepresented itself.

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MB Real Estate’s Michael Hull represented Katz, Friedman, Eagle,Eisenstein, Johnson & Bareck PC in an 11k SF lease renewal of itsHQ at the Chicago Temple Building at 77 W Washington. CBRE'sAllison Olszta repped the landlord in the lease that starts Jan. 1,2013.

EXECUTIVE MOVES

Angela Aman has been appointed director of capital markets atInland Western Retail Real Estate Trust. Prior to joining InlandWestern, Angela was a portfolio manager with RREEF. As part oftheir North American investment group, she focused on retail andregional mall companies. She has a bachelor’s degree from TheWharton School of The University of Pennsylvania.

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Kevin Hughes has joined Jones Lang LaSalle as a member of thefirm’s corporate solutions executive team. Hughes, a 26-year CREvet, will serve as executive managing director and principal. His rolewill also extend into Jones Lang LaSalle’s brokerage business. Priorto JLL, Kevin dedicated his time as an executive and Board Memberfor Cornerstone Corp for Shared Equity, a non-profit that providesaffordable housing and community development. He has a bachelor'sdegree from the University of Dayton.

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Reuben Rischall has been promoted to VP at The Modal Group.Reuben has completed multiple transactions with DNJ Trucking,Continuum Transportation, ContainerPort Group, and CenterPointProperties. The Modal Group was founded in 2008.

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Daniel Corrado joined Cawley Chicago Commercial Real Estate.Daniel has a BS in accounting from St Johns University. His priorwork experience includes two startup businesses in Chicago,Accountix Staffing and more recently Resureel LLC, both of whichcatered to Fortune 500 companies in and around Chicagoland. He willnow work with property owners and tenants within the industrial realestate space.

RECEIVERSHIPS

Podolsky Northstar CORFAC International's Randy Podolsky andAdam Tarantur have been named the exclusive agents for the saleof two mortgage notes that are secured by the property formerlyknown as the Purple Hotel in Lincolnwood. The lender has filed aforeclosure suit against the current borrower, who failed to repay theloans at maturity. The bank is seeking purchasers who realize thevalue of the underlying real estate that secures the notes.

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JCF Real Estate, through John Fitzmaurice, has been named thecourt-appointed receiver and/or manager on 11 properties throughout

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court-appointed receiver and/or manager on 11 properties throughoutChicagoland. The new properties are located in Chicago, CalumetCity, Flossmoor, Wheeling, Orland Park, and Skokie and representall asset classes. The firm’s current assignment group includesnearly 85 receivership and REO assignments, totaling almost 100properties throughout Chicagoland.

CONSTRUCTION NEWS

Reed Construction is working on an interior build-out at 600 WFulton in Chicago on behalf of Interactive Data Corp. The 16k SFbuild-out is the 7th floor and will accommodate the relocation of thefirm’s Chicago offices. The project will feature a loft-style design withexposed timber construction and new finishes. The project isscheduled for completion in mid-September. Reed's Bryan Kreugeris the project executive and Jeremy Raridon will be the projectmanager. Eastlake Studio is providing the architectural services.

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Morgan / Harbour Construction Co has completed an office build-out for The Doctors Co at 2800 W Higgins in Hoffman Estates.Morgan / Harbour Construction was selected by property owner,Hamilton Partners, to complete the 4,000 SF renovation, whichincluded a new open work space, private offices, and a conferenceroom. Morgan / Harbour’s Ben Warriner was the project executiveand Noah Warriner was the project manager for the office build-out.The Jenkins Group provided the architectural services and InterniDesign provided design services.

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Reed Construction completed work on Outpatient CardiacDiagnostic build-out at 24600 W 127th St in Plainfield. The newCardiac Diagnostic Center at the Edward Outpatient Centerfeatures multiple procedure rooms, clean and soiled utility rooms, ahot lab, a nuclear camera room, and a staff work room. Reed's ScottPickands was the project executive and Christine Roche is theproject manager. Potokar provided architectural services.

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Reed Construction has completed a 50k SF interior build-out on the24th and 25th floors at Three First National Plaza at 70 W Madison.The renovation included the construction of new executive offices withglass and wood crafted facades and open work areas. Reed's BryanKreuger was the project executive. Whitney Architects provided thearchitectural services.

SPIN-OFF

General Growth Properties announced plans to spin-off a 30-mallportfolio, totaling 21.1M SF, to holders of GGP common stock in theform of a taxable special dividend. The dividend is expected to becomprised of common stock in Rouse Properties, a recently formedcompany to which GGP plans to transfer the portfolio. Rouse iscurrently 87.7% leased and offers significant opportunities to enhancevalue through asset management strategies, includingredevelopment.

Rain or shine, send your story ideas to Maureen Wilkey,maureen@bisnow.com.

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