Industrial N Illinois
Steve Groetsema;Bridge Development Partners

Bridge Development Partners promotes Steve Groetsema to COO

Bridge Development Partners, LLC, announced that Steve Groetsema of the company’s Chicago office has been promoted to chief operating officer. In his elevated role, Groetsema will support Bridge’s continued national and international industrial real estate portfolio expansion, in addition to enhancing the company’s internal infrastructure and processes that drive its acquisition, development and property management operations.

Industrial N Illinois
This property at 5300 Proviso Drive in Melrose Park, Illinois was part of a $179 million, multi-market sale between Transwestern Investment Group and Dream Industrial. The Illinois properties included in the 3.5-million-square-foot transaction comprised 1.26 million square feet.

Chicago industrial activity up by 30%

The Chicago area remains a key industrial hub and target for investors, with the market experiencing a 30.4 percent increase in industrial sales activity year-over-year, through February 2019. Like many markets around the country, portfolio sales volume contributed to Chicago’s industrial velocity.

Hospitality N Illinois
Thomas Prins

Thomas Prins joins Hostmark Hospitality as minority partner

Thomas Prins, principal of TQP Capital Partners, a hotel real estate private equity firm focused on value-add and opportunistic investments, has joined Schaumburg, Illinois-based Hostmark Hospitality Group, a leading third-party hotel management company, as a minority partner. In his new role, Prins will be responsible for new business development on behalf of Hostmark and TQP Capital Partners.

CRE N Illinois
Jimena Sayavedra;Newmark Knight Frank

Newmark Knight Frank welcomes Jimena Sayavedra as an associate

Newmark Knight Frank (NKF) announced that Jimena Sayavedra has joined the team as an associate in the company’s Chicago office. Specializing in industrial brokerage, Sayavedra will represent local and national clients, partnering with NKF senior managing director Elise Couston, SIOR, to advise clients on acquisitions, dispositions, leases and investment properties.

Seniors Housing N Illinois
Co-located library/affordable senior housing project opens in West Ridge

Co-located library/affordable senior housing project opens in West Ridge

Evergreen Real Estate Group recently celebrated the grand opening of the Northtown Branch Library, located at 6800 N. Western Avenue in Chicago’s West Ridge neighborhood. Designed by Perkins+Will, the project is one of two co-located housing and library developments Evergreen has built in partnership with the city of Chicago, Chicago Housing Authority and Chicago Public Library.

Multifamily N Illinois
West Loop condo building sells for $2.3 million

West Loop condo building sells for $2.3 million

The 15,887-square-foot, value-add commercial condo at 400 S. Green Street in Chicago’s West Loop neighborhood sold to an out-of-state buyer. Wayne Caplan of SVN Chicago Commercial represented the seller, while SVN Chicago Commercial advisors Chad Schroedl, Adam Thomas and Scott R. Maesel represented the buyer, Vista Property Holdings, LLC. The retail investment sold for $2,294,500.

CRE N Illinois
Lena Kitson;Gensler

Lena Kitson promoted to principal at Gensler

Gensler Chicago announced that Lena Kitson has been newly appointed principal. Kitson is widely recognized for her skills as a design manager, with clients and industry experts seeking out her knowledge, management acumen and her leadership skills to lead their projects.

Retail N Illinois
Redevelopment coming to Vernon Hill's Hawthorn Mall

Redevelopment coming to Vernon Hill's Hawthorn Mall

Centennial, a fully integrated real estate investment firm with a national portfolio of shopping, dining, entertainment and mixed-use destinations, announced a transformative redevelopment plan for Hawthorn Mall, a super-regional shopping center that has been the preferred retail and dining destination in Vernon Hills, Illinois, since 1973.

CRE N Illinois
CRE Future Leaders: Austin Vanderstappen

CRE Future Leaders: Austin Vanderstappen

Austin Vanderstappen is an associate within Podolsky Circle CORFAC International’s brokerage division, where he specializes in industrial transactions in the Northwest Suburban submarket, representing both tenants and landlords. He focuses on new business development, market research and client services for both private and institutional clients.