This Week's Chicago Deal Sheet: Obama Presidential Center Museum Building Topped Off
Exterior work on the Obama Presidential Center Museum building wrapped Monday as former President Barack Obama celebrated topping off his namesake center.
The museum, which is 225 feet high, will be the tallest building on the Obama Presidential Center campus in Woodlawn, Block Club Chicago reports. At the event marking the exterior work's completion, Obama thanked construction workers for their dedication, professionalism, hard work and sacrifices, according to the outlet.
“For decades to come, every time people come by here, the work they’ll be seeing will be your work,” Obama said.
Crews are continuing to work on the museum's interior, installing mechanical, electrical, plumbing and drywall inside the building. The campus and museum are set to open in spring 2026.
PEOPLE
Unibail-Rodamco-Westfield added three members to its management team at Westfield Old Orchard in Skokie: General Manager Maegen Akers, Assistant General Manager Jeff Rutzen and Director of Marketing Jenna Velelekos. The trio will help with the center's evolution, including plans in progress for a redevelopment featuring new residences, eateries, wellness facilities and outdoor amenities.
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Bradford Allen added two people to its management services business: Angela Burnett as director of operations and Sean P. Kenny as director of engineering. Burnett will work with on-site property management teams across the country on operational processes, efficiencies, delivery of high-level tenant experience and execution of capital projects. Kenny will lead on-site property management, engineering and maintenance teams, and oversee operations and maintenance.
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Clayco appointed Jeff Miller as its new chief information officer. Miller has more than two decades of expertise in information technology, cybersecurity and strategic leadership. He will be responsible for advancing the company’s IT and security initiatives.
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Essex Capital Markets added industry veteran Elliott Quigley to its team as managing director. Quigley joins Essex Capital Markets from a senior position at Key Bank and has decades of experience in Chicago’s capital markets sector.
SALES
The Prime Group and CRG, the real estate development and investment management arm of Clayco, acquired the 40-story Jewelers Building at 35 E. Wacker Drive in a joint venture for an undisclosed price. Clayco will expand its current footprint in the building as the anchor tenant.
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Beal Properties bought a 48-unit multifamily property at 452 W. Oakdale Ave. in Lakeview East for $11.2M from a local investment group led by Cagan Management. Interra Realty's Joe Smazal represented both parties in the deal.
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DMG Capital, the multifamily investment affiliate of Chicago-based Daniel Management Group, acquired Linkt Apartments in River West for $14.2M. The property includes 47 luxury apartments and two street-level retail units. DMG Capital partnered with JLL Capital Markets' Philip Galligan and Danny Kaufman to arrange the debt financing.
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A local partnership purchased a three-property, 18-unit multifamily portfolio near O’Hare International Airport for $3.1M from another local partnership. The six-flat buildings are at 8622 W. Berwyn Ave., 8657 W. Berwyn Ave. and 5240 N. Oakview Ave. Interra Realty's Patrick Kennelly, Paul Waterloo and Nathan Zito represented the seller, while Jay C. Realty's Jay Chandran represented the buyer.
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Venture One Real Estate acquired a 32K SF industrial building at 1053-1057 Shore Road in Naperville for an undisclosed price. The property was 50% leased to one tenant when the deal closed. Venture One’s planned improvements include new spec office, energy-efficient warehouse lights and a new parking lot.
CONSTRUCTION AND DEVELOPMENT
Graycor Construction, Helmkamp Construction and Weiland began construction on a $500M project in East Alton. Work started on the first stage of a capital investment plan to reequip, modernize and expand a facility initially opened in 1916. The project will increase the casting capacity and quality of copper production at the facility.
FINANCING
Berkadia Affordable Housing secured $17.6M in financing for Jesse Jackson Jr. Senior Housing, a 120-unit affordable housing property in Harvey. Berkadia's Brian Blanchard and James Grande secured the Low-Income Housing Tax Credit equity investment on behalf of the sponsor, Preservation of Affordable Housing.
