jameson in the news
February 8, 2007
Sales Top $100_Million:
Jameson Realty Group'S COMMERCIAL DIVISION HAS BANNER YEAR IN 2006
CHICAGO-With the closing of several major commercial real estate transactions Jameson Realty Group's commercial real estate division posted sales and leasing transactions valued at more than $100-million in 2006.
"Our commercial division had a banner year in both the brokerage and leasing of Chicago-area commercial properties ranging from shopping centers and office space to warehouses and vacant land," said Harry Huzenis, executive vice president of Jameson Realty Group.
Huzenis said one of Jameson commercial's 2006's biggest deals was the sale of Inline Shops, a 91,227 square foot shopping center in northwest suburban McHenry by Esther Berman, vice president of Jameson Realty Group's Commercial Division. The selling price was $18.75 million.
The center, located at Illinois 31 and McCullom Lake Road, is anchored by Circuit City, Michael's, Pier 1 and Famous Footwear. The seller was Rubloff McHenry, LLC. Additional brokers were North American Real Estate and Olympia Pappas, broker. The purchaser was Advance Real Estate Management, LLC, represented by attorney Zay Zabel.
Robert J. Flannery, director of project development for Jameson Realty Group, listed the following major commercial transactions handled by Jameson's commercial division in 2006:
- 1880 W. Fullerton. A 143,000-square-foot commercial building and 4 acres of land in the Lincoln Park neighborhood was sold to a private investment group. The building is comprised of a large retail component, mixed with some warehouse and office suites. The property was more than 90-percent leased at the time of the sale. The asking price was $7.95 million. Phil Gibby, Robert E. Thomas and Ken Ross of Jameson Realty represented the seller, 1800 West Fullerton LLC.
- 700 N. Ashland Ave. A 30,600-square-foot land site in the West Town neighborhood was acquired for KSW Development by Phil Gibby and Phil Soto of Jameson Realty. The buyer plans to construct a mixed-use development featuring residential condominiums and the regional headquarters of American Eagle Bank. CBRE represented the seller. The asking price was $5.5 million.
- 2340 S. Michigan Ave. Phil Gibby and Ken Ross of Jameson Realty represented a private investor in the sale of a 13,600-square-foot land site in the South Loop to Graceland Development Corp. The buyer is proposing to construct a residential condominium development on the site. The property is in the heart of the Motor Row Historic District, a burgeoning commercial and residential neighborhood south of Cermak Road and adjacent to the McCormick Place expansion. The sale price was $1.6 million.
- Zion Plaza. Also in 2006, Jameson Realty Group closed the sale of the 185,518-square-foot Zion Plaza, located in the far north suburb of Zion. Esther Y. Berman and Mark A. Jones of Jameson were sole brokers in the transaction. The selling price was $9.35 million. The buyers and sellers were local investor groups. The property includes a 134,473-square-foot Big K-Mart, a 16,010-square-foot strip center and a 35,035-square-foot Piggly Wiggly store.
- Evergreen Plaza. Jameson Realty Group closed the sale of a 25,028-square-foot property at the Evergreen Plaza Shopping Center. The property is located just west of the intersection of 95th and Western in south suburban Evergreen Park right across from the new Wal-Mart. Esther Y. Berman and Mark A. Jones of Jameson were the sole brokers in the transaction. The asking price was $4,958,200. The buyer and seller were local investors. The property includes K & G Men's Wear store and Sprint Sales Center.
Flannery said Jameson's commercial division also handled several major leasing assignments in 2006. For more information on the following leasing opportunities, please call Jameson's Robert E. Thomas at 312-335-3246:
- 1528 West Adams. Jameson has received the exclusive leasing assignment to market 1528 West Adams in the West Loop. The renovated building has approximately 9,375 square feet of finished, heavy timber Gallery/creative/office loft space on the 4th floor. The space features skyline views, high ceilings, exposed brick and abundant natural light from window walls and skylights. There is a common truck dock and freight elevator in rear of building for easy loading.
- 1550 North Cleveland Avenue. Jameson has received the exclusive listing to market for lease 5,000 square feet of deluxe second floor Lincoln Park office space at Cleveland and North Avenue.
The space is beautifully developed with skylights and 10 offices. Two offices share a private conference room and toilet with shower. There are two additional conference rooms, built-in work stations, kitchen, file/work room, dedicated men and women's toilets. The asking rental rate is $22 modified gross.
- 200 North Jefferson. Jameson has received the exclusive listing to market and lease a mixed-use property on 200 North Jefferson Street in the West Loop's Fulton River District. The 7,930-square-foot, space features 18-foot to $33-foot ceilings and is divisible.
The asking rental rate is $28 to $33 per square foot with immediate occupancy available. Starbucks, Jimmie John's and FedEx Kinkos have already committed to this prime retail location.
The retail space, located below the recently sold-out 198-unit condominium development known as Jefferson Tower, is across the street from the Chicago Transit Authority's newly construction headquarters building and from the recently completed 180 N. Jefferson Apartments.
"Jefferson Tower also will reap the rewards of upcoming neighborhood amenities," said Charles Huzenis, president of Jameson Realty Group.
"The City of Chicago recently approved plans for both a Jewel at Des Plaines and Kinzie, as well as a MetraMarket, a 200,000-square-foot, street-level space beneath the Ogilivie Transportation Center that will feature restaurants, high-end grocers and other food related retailers," Huzenis added.
Jameson Realty Group, a full-service real estate organization, is owned by Charles and Harry Huzenis. The brothers started Jameson in 1981 and have grown the company to over 100 commercial and residential agents plus more than 20 employees. Jameson has unparalleled experience in developer representation and has marketed more than $1 billion in multi-family residential projects since 1991.
In addition to its residential and brokerage divisions, Jameson Development has acted as a principal in over $500 million of multi-family development projects including condominium conversions and high rise construction.
For more information on Jameson's commercial division, please call at 312-751-0300, or log on to the web site at www.jameson.com.
