In a significant real estate transaction, Alexander West Capital, the family office for the Leopardo family, has acquired a 48,000 square foot office and industrial building located at 1100 W. Monroe St. in the vibrant Fulton Market area for $7.4 million.
This property is set to become the new headquarters for Leopardo Construction’s operations in Chicago, reflecting the company’s commitment to its growth and presence in the city.
The three-story building boasts efficient floor plates and ample industrial storage, complete with three exterior docks on the first floor, making it a uniquely functional space.
Additionally, the property includes 37 surface parking spaces, catering to the operational needs of Leopardo Construction.
Jason St. John from Greenstone Partners represented the buyer, while Andy Davidson, David Kimball, and Jay Beadle from Transwestern acted on behalf of the seller.
St. John characterized the deal as a “generational acquisition” and emphasized the rarity of sites in the Fulton Market and West Loop neighborhoods that exceed 30,000 square feet.
The building not only serves as a contemporary headquarters but also holds long-term redevelopment potential, aligning with Leopardo’s vision for future growth.
In other industry news, Clune Construction has recently promoted ten of its employees to vice president roles across various departments, reflecting the firm’s commitment to career advancement within its workforce.
The new executives include Brian Cosgrove, Colleen Deutsch, Neil Dose, Jake Hill, Rachelle Mason, Pat Mason, Dan MacNamara, Brock Neirynck, Peggy Newquist, and Roland Raffin.
Similarly, Avison Young has strengthened its team by hiring Stefan Ivanisevic as vice president for tenant representation services, moving from a senior associate position at JLL, where he focused on office user representation in the Chicago market.
Lee & Associates has also made notable leadership changes, promoting Grant Bollman to senior vice president, where he will represent tenants and investors in office space transactions.
In a bid to enhance client relationships and business opportunities, McHugh Construction has appointed Jaime Zwierzynski as the director of business development.
Zwierzynski, who has over 12 years in architecture, engineering, and construction fields, is expected to bring valuable insights to McHugh’s client base and project pipeline.
Inland Mortgage Capital welcomed Ashley Szatkowski as vice president of credit administration, focusing on managing underwriting processes and ensuring efficient loan origination evaluations.
In leasing activity, CCS has signed a substantial lease for 159,000 square feet at 1301 Frontenac Road in Naperville.
Core Industrial Realty representatives Noel Liston and Nick Krejci facilitated the transaction on behalf of ownership, while Transwestern’s Joe Karmin represented the tenant.
Meanwhile, Glenstar executed three leases, totaling 100,000 square feet at the Presidents Plaza, a large office complex situated at 8600-8700 W. Bryn Mawr Ave.
FM, Do It Best, and Meitheal Pharmaceuticals were the tenants involved in those leases.
In the sales sector, Highland Real Estate Partners procured an 8-story, 14-unit multifamily building located at 516 W. Arlington Place in Lincoln Park for approximately $10.3 million.
Built in 2022 and fully occupied, the property features a rooftop deck, garage parking, and private balconies.
CBRE’s Justin Ross and Danny Byrne handled the sale on behalf of the seller.
Portokali Investments has acquired a 48,000 square foot building at 933 Tower Road in Mundelein from a former printing company, the sale price remains undisclosed.
George Cibula and Dan Prendergast from DarwinPW Realty/CORFAC International represented the buyer, while Brown Commercial Group’s Collin Tyrrell and Dan Brown worked on behalf of the seller.
In another notable transaction, the Mehmeti family purchased a vintage mixed-use building at 6930 N. Greenview Ave. in Rogers Park for $9.6 million.
The property comprises 66 apartments and five retail spaces, with Interra Realty’s Patrick Kennelly representing the buyer and Joe Smazal handling the seller’s representation.
Finally, Silver Property Group has closed on a 20-unit multifamily building at 2200 N. Avers Ave. in Avondale, completing their acquisition of a 117-unit portfolio from Pioneer Acquisitions worth $22.3 million.
In the realm of construction and development, BGO has completed an $8 million amenity center within its Class-A office building at 200 W. Madison St. in collaboration with Gensler.
The comprehensive amenity center features a fireplace lounge, coworking areas, a fitness center, boardrooms, and recreational facilities, including a golf simulator, pool table, and shuffleboard.
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