In This Issue:
Top Honors
Allen Joffe Named Broker of the Year
The Chicago Association of Realtors Commercial Forum named Allen Joffe, managing broker and principal at Baum Realty Group, the 2006 Broker of the Year for Tenant Representation.
Allen completed more than $40 million in transactions between July 1, 2005 and June 30, 2006. Allen displayed his commitment to the Chicago real estate community through the numerous transactions he completed, the many clients he served and his participation and continuing studies of the market. Many of Allen’s clients, friends and peers submitted letters recommending him for the award.
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. Congratulations Allen!
Baum Expands Landlord Representation
Since the hiring of Vice President Doug Renner in September of 2006, the Landlord Representation division of Baum has grown considerably. Doug has added Ann Baumann and Steve Schwartz to his team, both of whom have impressive resumes. Ann joined Baum after serving as director of leasing for Next Realty, LLC in Northbrook, Illinois. Steve had five years experience with Hallmark & Johnson.
The division has added more than team members; More than 15 new projects have been added including 4745 N. Lincoln in the heart of Lincoln Square. Located at Giddings Plaza, this mixed use condo and retail development boasts 7,800 feet of new retail space.
Green Exchange
In November Baum Development announced it will soon begin construction on Green Exchange, the first business community committed to environmental sustainability, profit and positive social impact.
The four-story 250,000 square foot concrete loft building will be renovated according to LEED (Leadership in Energy and Environmental Design) certified standards. Currently, Baum has signed preliminary letters of intent with five tenants. Initial occupancy for this adaptive reuse development is scheduled for the first quarter of 2008.
Located at 2545 West Diversey Avenue, the former Cooper Lamp Factory building will be leased exclusively to tenants offering sustainable products or services and actively working to expand the green marketplace and environmental initiatives.
For general information check out the website; www.greenexchange.com
For leasing information contact Phil Baugh, 312.275.3102
Featured Tenant
Jimmy John's
Jimmy John’s Gourmet Sandwich Shops recently announced Baum Realty Group will represent them exclusively in Chicago’s suburbs and Northwest Indiana. The Illinois-based company continues to expand its franchise operations across the United States and has enlisted Baum Realty Group to help create real estate opportunities for new ventures. Jimmy John’s plans to open more than 160 locations across the United States in 2007, adding to 450 restaurants already in existence.
For more information contact Phil Baugh, 312.275.3102 or Allen Joffe, 312.275.3120
Featured Property
625 N. Michigan Avenue - Chicago, IL
Located in the most prestigious retail corridor in Chicago, the available space can accommodate a 9,500 square foot restaurant. This restaurant space allows seating for up to 300, a full kitchen, freight-dock access and is ADA-compliant. This North Michigan Avenue location enjoys tremendous traffic from shoppers, tourists, locals, workers and the nearby Northwestern Hospital Campus.
For more information contact Allen Joffe, 312.275.3120 or Adam Secher, 312.275.3130
New Team Members
Carol Lockhart
Carol joined Baum Realty Group in October 2006. Carol provides a unique service to Baum Realty Group by specializing in Tenant Representation for the state of Indiana representing FedEx Kinko’s, Bo-Rics, Beef O’Brady’s, Trade Secret, Johnny Rockets and Primrose Schools Franchising Corporation along with assisting in the expansion of other Baum Realty Group clients to Indiana. Prior to coming to Baum Realty Group, Carol worked with SITUS Realty Corp.
Contact information: 317.372.7616; carol@baumrealty.com
Steve Schwartz
Steve Schwartz joined Baum Realty Group in January 2007 after serving as a broker for five years at Hallmark & Johnson. Steve works in the Landlord Representation division representing clients such as Inland Commercial Properties, Shodeen Properties, Sedgwick Properties, VLF Development and Hayes Properties. Steve has overseen deals for a clientele that includes Davis Street Land Company, Wilmot Properties, Esskay Development, Westgate Joint Venture and the Village of Wilmette. While at Hallmark and Johnson Steve closed more than $13 million in commercial sales and facilitated lease transactions of more than 22,000 square feet of commercial space.
Contact information: 312.275.3136; steve@baumrealty.com
Ann Baumann
Ann joined Baum Realty in October 2006 specializing in property leasing bringing seven years of experience with her. Before coming to Baum, Ann was the director of leasing for Next Realty, LLC in Northbrook, Illinois. At Next, Ann was responsible for the company’s more than two million square foot retail portfolio. The diverse portfolio included spaces ranging from small community shopping centers to large power centers located in Chicagoland, Wisconsin, Michigan and the East coast.
Contact information: 312.275.3104; ann@baumrealty.com
Recently Completed Transactions
Transactions completed on behalf of Landlords:
- South Point Shopping Center - Arlington Heights, IL - Papa Romeo's
- South Point Shopping Center - Arlington Heights, IL - Hair Salon
- 123 N. Wacker Drive - Chicago, IL - Sushi Para
- 1617 N. Clybourn Ave. - Chicago, IL - Horton's
- SEC Summit & Main - Crown Point, IN - The Bedding Experts
- 9630 S. Pulaski - Chicago, IL - LifeSource
- 3253 N. Kedzie - Chicago, IL - Purchase of building
- 9628 S. Pulaski - Chicago, IL - LabCorp
- 2839 Narragansett - Chicago, IL - Currency Exchange
- 1714 N. Damen - Chicago, IL - Marc Jacobs
Transactions completed on behalf of Tenants:
- Ace Hardware - 4813 N. Milwaukee - Chicago, IL
- Ace Hardware - 9642 S. Roberts Rd. - Hickory Hills, IL
- Ace Hardware - Woodward & Boughton - Woodridge, IL
- Dinner by Design - University Village - Chicago, IL
- Fitness 19 - Buffalo Grove, IL
- Johnny Rocket's - Rt. 355 & Boughton - Bolingbrook, IL
- Kay Jewelers - Naperville Rd. & Plainfield Rd.- Wheaton, IL
- Malloy's Finest Liquors - Lisle, IL
- Panera - Fairbanks & Ontario - Chicago, IL
- Panera - 250 S. Wacker - Chicago, IL
- Panera - Willowbrook Rt. 83 & Plainfield Rd.- Willowbrook, IL
- Panera - 127th & Rt. 59 - Plainfield, IL
- Sam Kori George Atelier - 1 E. Delaware - Chicago, IL
- Starbucks - Schaumburg, IL
- Starbucks - St. Charles, IL
- Starbucks - Bolingbrook, IL
- Taco Fresco - Sears Tower - Chicago, IL
- Taco Fresco - Naperville Crossings - Naperville, IL
- Zella Brown - 1444 N. Milwaukee Ave. - Chicago, IL
In The News
- REbusiness Online features an article on the state of the Chicagoland market written by Baum broker Jason Berngard. Read the Article >>
- Chicago Tribune dedicated a column to Baum’s new lease transaction in Bucktown with Marc Jacobs for its first freestanding store in Chicago.
- Crain’s Chicago Business covered a feature story on Baum’s involvement in bringing the first freestanding Marc Jacobs store to Chicago.
- Chicago Magazine reported on Baum’s completion of bringing the first freestanding Marc Jacobs store to Chicago.
- Illinois Real Estate Journal published a feature story on Baum’s Marc Jacobs deal in Bucktown.
- Chicago Sun-Times dedicated a column to Baum Development’s plans for the recently acquired Cooper Lamp Factor building.
- Chicago Sun-Times wrote about Jimmy John’s naming Baum Realty Group its exclusive broker in Chicago suburbs and Northwest Indiana.
- Heartland Real Estate Business featured Greg Kirsch in its October cover story.
- Chicago Sun Times and Illinois Real Estate Journal printed congratulatory words to Baum Realty broker Allen Joffe for his 2006 Broker of the Year award.
- Illinois Real Estate Journal featured Baum broker Anthony Campagni and his leasing of property in Uptown.
- Crain’s Chicago Business announced Doug Renner’s joining Baum Realty.
- Chicago Tribune quoted Allen Joffe in its feature on Lord and Taylor’s closing.
- Midwest Real Estate Journal reported on the success of the Baum’s aid in the expansion of Andy’s Frozen Custard with an Andy’s deal completed in Bolingbrook.
- GlobeSt.com and Cityfeet.com featured Baum’s long-standing exclusive representation of Ace Hardware with the opening of two new Chicago locations.
- Crain’s Chicago Business solicited the commentary of Greg Kirsch, principal at Baum, on market trends in Chicago.
- GlobeSt.com and Cityfeet.com covered Baum Realty’s representation of the property where UPS opened its 30th store in Chicago.
- Crain’s Chicago Business printed remarks from Greg Kirsch regarding retail vacancy concerns.
