Barack Ferrazzano (Illinois, USA) served as lead legal counsel in two of the six deals that have been nominated for 2012's Innovative Deal of the Year at The Chicago Commercial Real Estate Awards Dinner.
A benefit of the Greater Chicago Food Depository, Chicago’s food bank, the event is expected to raise more than $1 million to support hunger-relief programs and has raised more than $12 million in the past 24 years. More than 1,700 attendees will be on hand as awards are presented in 16 categories. Among those being recognized in the Innovative Deal of the Year category are Barack Ferrazzano's clients, USAA Real Estate Company in its acquisition of the historic Chicago Board of Trade Building, and Motorola Mobility in its lease of space at Chicago’s venerable Merchandise Mart.
Motorola Mobility: Merchandise Mart
Howard Kirschbaum, Rich Nikchevich, Katherine Sprenger and Jay Leibovitzrepresented Motorola Mobility in its relocation of its headquarters from suburban Libertyville to downtown Chicago, including its lease of in excess of 500,000 square feet at the Merchandise Mart. The lease is the largest lease in downtown Chicago in approximately 7 years.
USAA Real Estate: Chicago Board of Trade
Rich Nikchevich, Randy Graeb and Katherine Sprenger represented the purchaser, USAA Real Estate Company, in affiliation with GlenStar Properties in their acquisition of the Chicago Board of Trade office and retail complex from CME Group. As part of the purchase, CME Group leased back substantial portions of the office and trading floor components of the project.
