Chicago Cheat Sheet: JSM Venture buys former Zion Kmart … & more

Also, the Farpoint Development-led restoration of the Uptown Theatre is set to start next year

Nov.November 13, 2018 05:00 PM

Charlie Mengel and the vacant Zion Kmart

Vacant Kmart to be converted into storage facility

JSM Venture bought a vacant 90,000-square-foot Kmart in far north suburban Zion with plans to convert it into a self-storage facility, The Real Deal has learned. The Northfield-based firm led by Charlie Mengel paid Amin & Shah Solutions LLC $2.3 million for the former store at 3355 Sheridan Road. JSM plans a 619-unit storage facility with 70,000 square feet of rentable space. Colliers International’s Patrick Turner and Brendan Green represented JSM Venture. Paine/Wetzel represented the seller.

Scott Goodman and the Uptown Theatre

Uptown Theatre’s $75M restoration to kick off next summer

Jam Productions and Farpoint Development will begin the $75 million restoration of the Uptown Theatre next summer, the city said. The lead architects of the restoration will be Lamar Johnson Collaborative, whose prior work with Farpoint principal Scott Goodman includes the restoration of 600 West Chicago Avenue, home of Groupon’s headquarters. [Chicago Tribune]

Vintage Hinsdale mansion sold as tear-down

A six-bedroom, 4,400-square-foot Hinsdale mansion sold for $2.15 million and could be headed for the wrecking ball. Bruce and Karen Larson sold the 13-room home, which was marketed as a teardown, to a trust. [Chicago Tribune]

Developer plans 320 new resi units in Mount Prospect

Developer Nicholas and Associates plans an eight-story luxury apartment building, row houses and retail space on the former Parenti & Raffaelli property at 215-225 East Prospect Avenue in Mount Prospect. In addition to the 320 new residential units, plans include improvements to the village’s Metra parking lot. [Daily Herald]

Loop mainstay The Beef and Brandy restaurant closes

The Beef and Brandy restaurant and the Bar Below are closing and moving out of the Loop building at 127 South State Street they’ve occupied for 51 years. A manager of the restaurant said the businesses are being forced to move after the building was sold, but didn’t say where they’re going to relocate. [Block Club]

Bennett Day School building West Town addition for new high school

The Bennett Day School is building a 15,000-square-foot addition to accommodate a new high school that’s set to open in the fall. The private elementary school opened in West Town in 2014 at 955 West Grand Avenue. It plans to expand to fifth grade as well as offer ninth and 10th grades in the addition being constructed on the east side of the existing school. [Block Club]

Oldest building in Naperville trades hands

Naperville’s oldest structure, the Joseph Naper Building, sold for $3.65 million. The 7,000-square-foot property at 216-218 South Main Street is 100-percent occupied by Alixandra Collections, J McLaughlin, Memory Keepers, Brodzinski Law and Passages. [Daily Herald]

John Buck Company adds law firm to tenant roster at 151 North Franklin

Law firm Manatt, Phelps & Phillips is moving into John Buck Company’s new office tower at 151 North Franklin Street in the Loop. The firm is moving into 11,000 square feet in the recently completed 35-story building, which is anchored by CNA Financial. [REJournals]

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