In This Issue:
Baum Adds New Members to the Team
Baum Realty Group is pleased to announce the addition of three new brokers to the BRG team:
John Stone, a recent graduate of Indiana University, has joined BRG’s Indianapolis office. John will join Carol Lockhart in assisting clients looking to expand into the neighboring state. Their focus is on tenant and landlord representation both within Indianapolis and throughout the state of Indiana.
Contact Information: 317.682.4002; john.stone@baumrealty.com
Marc Imrem has joined the BRG Investment Sales team as a Vice President of Investment Sales, specializing in the acquisition and disposition of investment properties. Imrem was most recently with Hansen Realty. In his seven years with the company, he was responsible for representing developers in the acquisition of a wide array of properties throughout the Chicagoland area. Marc’s recent transactions include the sale of 200 North Michigan Avenue, the former home of the Chicago Association of Realtors and, most notably, the MCZ Development/Centrum Properties sale of 2545 West Diversey, known as the Cooper Lamp Building. This property is currently being redeveloped by Baum Development into Green Exchange, the country’s largest sustainable business community.
Contact Information: 312.275.3125; marc@baumrealty.com
Jennifer Watson is the newest member of the Corporate Services team at Baum, bringing eight years of real estate experience to her role as Vice President. She specializes in tenant representation of retail clients seeking to expand their national profile via franchising opportunities. Her client roster features a variety of businesses including Burger Hut, Great Steaks, CLIX Portrait Studios, and Dinner by Design among others.
Prior to joining Baum Realty Group, Jennifer was a Sales Manager at Pulte Homes. During her eight year tenure, she sold upward of $75 million in real estate. She also managed an internal team at Pulte that was responsible for the start up and development of a $36 million residential community. Jennifer has also served as a residential and commercial broker with Schulz Properties and Caton Commercial Real Estate Group.
Contact Information: 312.275.3128; jennifer@baumrealty.com
Baum Continues to Grow Corporate Services Division
With the addition of Jennifer Watson to the Corporate Services team, the division is well positioned to continue its success in providing retailers and franchisors alike with the real estate expertise they require as they seek to expand their national presence. From site selection through lease execution, Baum designs local and national real estate programs tailored to meet each client’s specific needs.
Baum streamlines the entire site selection process, saving time, energy and money for our client’s development team. The tools and support offered by the Corporate Services team provides clients with the benefit of a single point of contact client management structure. This full-service approach allows clients to accomplish their real estate objectives and open more locations in less time.
The Corporate Services team utilizes its network of local brokers across the country to identify locations that will capture the client’s targeted customer. Baum also develops relationships with each franchisee, guiding them through the often complicated site selection process so that, in the end, both franchisor and franchisee are confident they have made the best choice for the long-term success of their business. Building solid relationships with local brokers and franchisees alike is a key element in Baum’s ability to complete transactions in an optimal timeframe, moving the franchise to market as quickly as possible.
Baum Realty Group is dedicated to achieving successful results and the Corporate Services team offers a highly effective solution to satisfy all our clients’ real estate needs nationwide.
For more information contact: Phil Baugh; 312.275.3102 or Jennifer Watson; 312.275.3128
Allen Joffe Named Commercial Forum’s Broker of the Year for the Second Consecutive Year
For the second consecutive year, the Chicago Association of Realtors Commercial Forum named Allen Joffe Broker of the Year for Tenant Representation.
Joffe, managing broker and principal at Baum, completed more than $23.2 million in transactions between July 1, 2006 and June 30, 2007. Joffe works tirelessly for his clients and in his efforts to better the community as a whole. Many of Joffe’s clients, friends and peers submitted letters recommending him for the award.
Chicago Commercial Forum Honors is the premiere awards program for commercial real estate professionals and recognizes individuals who are the best of the best in their industry. Criteria for the Broker of the Year includes gross dollar volume, number of transactions completed, impact on the community, professionalism and ethics, industry involvement, community involvement, client’s perception and peer’s perception.
Baum Realty Group Grows Green
Baum Realty Group rang in the new year with a move into 9,600 square feet of new green office space on the second floor of 1030 West Chicago Avenue. From floor to ceiling and from wall to wall, the new suite of offices features a uniquely green design and was constructed using a wide array of eco-friendly products.
The offices feature a loft-style setting, which required the minimal amount of build-out materials and resources, as well as ceilings coated in reflective paint to maximize light thereby using the least amount of energy. In addition, the individual private offices are located in the center of the office while the cubicles surround the exterior wall of windows, allowing everyone to benefit from natural light. A deck was also added to further promote employee well-being by offering immediate proximity to the outdoors.
Creating energy efficiencies was also a top priority and was achieved with the use of compact fluorescent lighting and occupancy sensors that automatically turn off lights in unoccupied rooms. The original HVAC system was completely overhauled to supply energy efficiencies and savings. In addition, all appliances are Energy Star certified, all sinks feature low flow faucets and the bathrooms have XCelerator high speed hand dryers, eliminating the need for paper towels and the associated waste.
The office decor, from window sunshades to Low-VOC paints and from countertops to carpets, is all comprised of eco-friendly materials. Even the furniture, including conference room tables, cube systems, office desks and chairs are sustainable. In keeping with the green physical surroundings, an eco-friendly lifestyle is also encouraged at the office. The kitchen is devoid of disposable kitchenware to cut down on waste. The cabinets, made from chemical-free, sustainable materials, are filled with ceramic coffee mugs, and water glasses, and the drawers offer flatware in lieu of plastic forks and knives. The kitchen also has a built-in 4-bin recycling system and individual recycling bins are stationed at every desk.
One of the main goals behind greening the office scene at Baum Realty Group was to create a healthy, comfortable environment that would encourage positive morale, increase productivity and promote a sense of well-being among our BRG team members. The early results are in and the team gives the new office space a definitive thumbs up with everyone eagerly anticipating warmer weather when they can put the outdoor deck to good use!
Featured Tenant
Firestone Tires
Firestone Tires, one of the country’s leading manufacturers and purveyors of quality automotive parts and services, has retained Baum Realty Group as their exclusive representative in Illinois. Firestone Tires operates nearly 1,500 Firestone Complete Auto Care stores nationwide, each of which feature a 7,000 square foot building sitting on a one acre+ parcel ideally located in a well-traveled retail district. Greg Kirsch and Jason Berngard are seeking sites for immediate purchase or lease in the Chicagoland market.
Baum Realty Group will also represent Centres Inc. of Atlanta who will act as Firestone’s preferred developer. They will purchase the Firestone sites as well as larger parcels for additional, adjacent retail development. Baum Realty is proud to expand the list of quality national tenants who have added Baum Realty to their real estate site selection team.
For more information contact: Greg Kirsch; 312.275.3101 or Jason Berngard; 312.275.3117
Featured Property
Wilson Yards located on the Northwest Corner of Broadway and Montrose - Chicago, IL
This dynamic redevelopment currently under construction is located in Chicago’s historic Uptown neighborhood and offers an eclectic mix of retail and residential opportunities. In addition to a new Target Greatland store, more than 25,000 square feet of small shop retail space, 108 commercial parking spaces and 178 new housing units will be delivered mid-2008. Wilson Yards will attract retail traffic from the thriving Uptown community and surrounding areas. Wilson Yards is adjacent to the busy Wilson Red Line and more than 84,000 residents live within a one mile radius.
For more information contact: Doug Renner; 312.275.3137
Investment Sales Team Activity Update
The Investment Sales team hit the ground running in 2008 closing on two single tenant Dunkin Donuts Corporate leased properties in Chicago. The property located at 5707 North Avenue was sold debt-free with 8.75 years remaining on the tenant’s initial ten year lease and the property located at 782 North Laramie Avenue has nine years remaining on its initial ten year lease. The transactions, completed by Andrew Watson and Jordan Shtulman were valued at $2,150,000 and closed with aggressive cap rates.
Within the first quarter of 2008, the Investment Sales team is expected to close on transactions valued at additional $5.6 million, with multiple investment opportunities also underway including:
- a three-story suburban retail/office building located in the heart of a business district featuring a national bank and coffeehouse/cafe tenants
- a NN Walgreen’s located in a Houston, Texas suburb
- a NNN day care portfolio located in Illinois
- a single tenant NNN restaurant in Hanover Park
- a new National Flag 60-plus room hotel, located in Illinois
- a Chicago south shore neighborhood multi-family apartment portfolio
Contact the Investment Sales team: Andrew Watson; 312.275.3139, Jordan Shtulman; 312.275.3116 or
Marc Imrem; 312.275.3125
Recently Completed Transactions
Transactions completed on behalf of Landlords:
- 11 S. LaSalle - Chicago, IL - Citibank
- 79th and Harlem - Burbank, IL - GameStop
- Fairway Plaza - Evergreen Park, IL - Shoe Carnival
- 1001 75th Street - Woodridge, IL - Noodles
- 1001 75th Street - Woodridge, IL - Qdoba
- 18254 Governors Hwy - Homewood, IL - US Cellular
- 11 S. LaSalle - Chicago, IL - GNC
- 790 W. Higgins Road - Hoffman Estates, IL - Bakers Square
- 1133 W. Armitage Ave. - Chicago, IL - Salon 1800
- 1714 N. Damen Ave. - Chicago, IL - Marc by Marc Jacobs
- 577 S. Third St - Geneva, IL - The Spice House
- 407-577 S. Third St. - Geneva, IL - Front Street Cantina
Transactions completed on behalf of Tenants:
- Ace Hardware - 6060 N. Northwest Highway, Norwood Park, IL
- Ace Hardware - Hickory Hills, IL
- Fatburger - Orland Park, IL
- Fitness 19 - Algonquin, IL
- Go Play - Schaumburg, IL
- Jimmy John's - Alsip, IL
- Jimmy John's - Crystal Lake, IL
- Jimmy Johns - 18046 S. Halsted - Homewood, IL
- Jimmy John's - Highland,IN
- Jimmy John's - Oak Lawn, IL
- Jimmy John's - Fiore Square, Lake Forest, IL
- Jimmy John's - Highland Park, IL
- Jimmy John's - Marley Creek, Orland Park, IL
- Jimmy John's - Orland Park, IL
- Jimmy John's - Rolling Meadows, IL
- Jimmy John's - Waukegan, IL
- Jimmy John's - Lake Avenue - Wilmette, IL
- Kay Jewelers - Prairie Ridge, Pleasant Prairie, WI
- Kay Jewelers - Yorkville, IL
- Malloy's Finest - Lisle, IL
- Performance Bike - Schaumburg, IL
- Taco Fresco - Tinley Park, IL
- The Little Gym - Evergreen Point Evergreen Park, IL
- Turner Acceptance - Lynn Plaza, Wheeling, IL
- Carquest - 1327 E. Thomas - Mt. Prospect, IL
- Carquest - 1411 Coil Plus Drive - Plainfield, IL
- FedEx Kinko's - 1400 N. Meacham - Schaumburg, IL
- FedEx Kinko's - 2 N. Riverside - Chicago, IL
- FedEx Kinko's - 310 S. Michigan - Chicago, IL
- FedEx Kinko's - 44th & Pulaski - Chicago, IL
- FedEx Kinko's - Crestwood, IL
- FedEx Kinko's - Lake Zurich, IL
- FedEX Kinko's - Mayfair Commons - 5240 N. Pulaski - Chicago, IL
- FedEx Kinko's - 2507 W North Ave - Melrose Park, IL
- FedEx Kinko's - Tinley Park, IL
- FedEx Kinko's - 280 E. Dundee Rd. - Wheeling, IL
- FedEx Kinko's - 1711 W. Division - Chicago, IL
- FedEx Kinko's - Halsted & 158th - Homewood, IL
- FedEx Kinko's - 901 W. Madison - Chicago, IL
- FedEx Kinko's - Glen Ellyn, IL
- FedEx Kinko's - Naperville, IL
- FedEx Kinko's - 35th and State Street - Chicago, IL
- FedEx Kinko's - Meridian Markets - Greenwood, IN
- FedEx Kinko's - Erskine Plaza - South Bend, IN
- FedEx Kinko's - 9540 N. Meridian, Indianapolis, IN
- FedEx Kinko's - South Bend, IN
- FedEx Kinko's - 4157 S. East St. - Indianapolis, IN
- Kriser's - 1033 W. Belmont - Chicago, IL
- Kriser's - The Shops of Uptown - Park Ridge, IL
- Kriser's - The Arboretum of South Barrington - South Barrington, IL
- Roly Poly - 29 S. LaSalle St - Chicago, IL
- The Barking Lot - 495 Lake Cook Rd - Deerfield, IL
- Halsted Street Deli - 222 N. LaSalle - Chicago, IL
- Starbucks - Rockford, IL
- Starbucks - Bolingbrook, IL
- Starbucks - Gurnee, IL
- Starbucks - Hoffman Estates, IL
- Starbucks - Roselle, IL
- Starbucks - Skokie, IL
- Starbucks - Wheaton, IL
- Starbucks - Lisle, IL
- Starbucks - Waukegan, IL
- Starbucks - Schaumburg, IL
- Starbucks - Volo, IL
- Starbucks - Gurnee, IL
- Panera Bread - Elston & Logan - Chicago, IL
- Panera Bread - Center of North Shore - Northbrook, IL
- Panera Bread - Willowbrook, IL
- Panera Bread - Fairbanks & Ontario - Chicago, IL
