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Monthly Archives: February 2014

Bradford Allen Brokers Nonprofit in Relocation, Expansion

CHICAGO –   Thresholds, a social service agency providing healthcare, housing, and hope for individuals struggling with mental illnesses, has inked a 8,800 square foot lease at 120 South LaSalle. The Chicago-based nonprofit will continue to operate at 4101 N. Ravenswood Ave and its locations across the city, and will use the new Central Loop location for their executive, finance, and development offices.

Bradford Allen Senior Managing Director Craig Nadborne and Managing Director Sameena Mustafa Basit represented Thresholds in the transaction. Kim Robare of Lincoln Property Group represented the landlord, Teachers Retirement System of Illinois.

“This transaction enabled Thresholds to move into a central location that will accommodate their near and long-term growth,” shared Basit. “120 South LaSalle was able to offer highly adaptable existing conditions and favorable lease terms.”

“We’ve noticed a trend among our nonprofit clients wanting to relocate their executive staff to downtown office buildings,” Nadborne added. “In addition to centralizing business operations, a CBD location offers greater visibility and easier access to donors and board members.”

“Thresholds is thrilled to move some of our team to a downtown location,” says Mark Ishaug, Thresholds CEO. “We look forward to being closer to many of our partners, donors, and board members, as well as providing better access for all of our program staff located throughout the City of Chicago, Blue Island, Kankakee, and McHenry County. Bradford Allen understands the needs of large nonprofit agencies, and it was a pleasure to work with them.”

About Bradford Allen 
Bradford Allen Realty Services, a Chicago-based, national commercial real estate company provides a full array of brokerage services and expertise to entrepreneurial and corporate business entities as well as not-for-profit organizations.  The firm provides real estate strategy, advice, marketing, and transaction execution for occupiers, investors and owners of real estate. For more information please visit our website at www.bradfordallen.com.

 

Chicago Commercial Real Estate – In the News

Tom’s Recommended Reading for the Week

This frigid week did not cool off the week’s news. Enjoy!

  1. Downtown biohub, Matter, will be at Merchandise Mart – The new downtown hub for health-technology startups has a name and an address. Called Matter, the facility will be in the Merchandise Mart next to 1871, the digital-technology hub upon which it’s modeled.The 25,000-square-foot facility will be funded by $4 million from the state of Illinois…  Crain’s Chicago
  2. Chicago Spire developer gets funding, wants to resume project – The Irish developer behind the Chicago Spire said it has found an investor to pay its creditors, allowing it to emerge from bankruptcy and possibly restart work on the long-stalled residential project.Chicago Tribune
  3. Two more law firms coming to Chicago- Two litigation-oriented law firms are opening Chicago offices they say could eventually total as many as 50-some lawyers.Akerman LLP, based in Miami with about 600 lawyers and lobbyists, hired seven lawyers from Chicago-based Ulmer & Berne LLP, while Goldberg Segalla LLP, a 180-lawyer firm based in Buffalo, N.Y., took six lawyers from Chicago-based Wiedner & McAuliffe Ltd… Crain’s Chicago
  4. The $180,000 way to create a tech startup – Seventy-nine percent of Illinois university tech startups still alive since 2010 came up through Chicago-area universities, according to a report out Monday.Northwestern University and the University of Chicago accounted for two-thirds of the total 354 startup companies created statewide, with the University of Chicago counting 103 total and 84 still-operating new companies, and Northwestern creating 116 with 92 still alive… Voices
  5. The logic of logistics: Key considerations for companies looking to expand, renovate or relocate – Despite some recent hiccups, a slowly-but-steadily improving economy seems to have reached the point in which many businesses are no longer just trying to keep their heads above water. In many cases, they are looking to move to a bigger pool. Across the Midwest, improving economic circumstances have led to a noticeable uptick in not only commercial moves, but also expansions and renovations of existing spaces… RE Journals