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650 E. Algonquin Road, Suite 201, Schaumburg, IL 60173
Commercial and Investment Realtors
BRIAN G. BROSSARD NAMED TO NICAR BOARD
April 2005 - DK Realty Partners, LLC announced today that Brian
G. Brossard 
was
named to The Northern Illinois
Commercial Association of REALTORS® (NICAR) Board of Directors. NICAR is
a commercial trade association covering 13 counties in northern Illinois,
including Cook, DuPage, Kane, Ogle, DeKalb, Kendall, Lake, McHenry, Kankakee,
Grundy, Will, Boone, and Winnebago. NICAR as an organization is the only
“voice” that advances the interests of commercial real estate practitioners.
“I’m very honored to be a part of the NICAR organization,” stated Brossard. “As part of my commitment to the advancement of the commercial real estate industry, I am taking the NICAR board position to ensure we’re keeping up with the ever-changing demands of the commercial real estate environment, while better serving our constituents.”
NICAR members partner with a distinguished group of peers who are committed to advancing the interest of commercial real estate in such critical areas as legislation, professional development and technology. Equally important, NICAR membership adds strategic value to the real estate commercial brokerage business thanks to aggressive networking forums, providing contact both inside and outside the industry, and communication materials to keep members informed about important industry trends and issues.
NICAR is governed by a
committed volunteer board of directors. Those members include the most
influential and dedicated professionals in commercial real estate, government,
mortgage banking, title insurance, building contractors, and other related
disciplines.
DK
REALTY PARTNER NAMED SALES AGENT
FOR
JOLIET, IL INDUSTRIAL/OFFICE BUILDING
February 2005 - DK Realty Partners, LLC announced today that
they have been selected as the sales agent for the industrial/office building
located at 2240-2250 Oak Leaf Street, Joliet, IL. The 10,000 square foot building sits on 0.8 acres and is
listed at $795,000. Situated in the geographically desirable,
upscale industrial area in Joliet, the property is located approximately five
miles from the Joliet Regional Airport and minutes from the I55 interchange.
“DK
Realty is seeing a resurgence of commercial real estate activity in Joliet, IL.
This building is in alignment with this market growth and can accommodate
two tenants or can easily be converted to a one tenant space,” said Paul
G. Demik, Managing Member, DK Realty Partners.
The
beautiful and stone masonry façade building is highly flexible with each unit
containing 2,600 square feet of finished office space, an enclosed loading dock
with a heavy-duty, overhead door with 20 feet of clearance.
Additional valuable building features include individually controlled
HVAC units, and a newly paved parking lot with a 20-vehicle capacity.
DK
REALTY PARTNERS TAPPED TO LEASE
NAPERVILLE,
IL RAILWAY PLAZA
January 2005 - DK Realty Partners, LLC announced today that they
have been selected as the leasing agent for the Railway Plaza Professional
Building located at 507 Fairway Drive, Naperville, IL. DK Realty Partners,
who represented the seller in the sale of this property just weeks earlier (see
new article below), was selected by the buyer to lease up the vacant space.
Three-year-old
Railway Plaza is located at the South Naperville Railroad Station and is ideally
suited for commuters. “We were
selected as the leasing agent because we are very knowledgeable about this
market, and were intimately involved with the sale of the property to the new
owners,” said Paul G. Demik, Managing
Member, DK Realty Partners.
“The prospects for this property are tremendous, as Naperville is a
proven location for business. This
property is exceptionally attractive as it provides easy access to downtown
Chicago via train and auto.
The
available 3,500 sq. ft. (divisible)
of office space is ideal for professional businesses looking to be centrally
located to the city and outlying suburbs with easy access to highways and
commuter trains. The property is
divisible into three separate units each with private front and rear entrances.
Existing tenants including Edward Jones Investments, Ivy Photography, a
specialty pharmacy, a chiropractic office and more.
DK
REALTY PARTNERS CLOSES SALE OF NAPERVILLE, IL
RAILWAY
PLAZA PROFESSIONAL BUILDING AND LAND PARCEL
PART
OF PUD PROJECT
January 2005 - DK Realty Partners, LLC announced today the
negotiated sale of the Railway Plaza Professional Building located at 507
Fairway Drive, Naperville, IL. The
transaction consisting of a three-year-old 9081 square foot free standing brick
building, and an attached 43,528 square foot land parcel sold for $1.25 million.
The land parcel is part of a large PUD consisting of two retail centers,
a childcare center and an upscale, free standing restaurant.
The
Railway Plaza is located at the South Naperville Railroad Station and is ideally
suited for commuters. “This
building is really a great fit for professionals that may need to go into the
city for a meeting or have business in the surrounding suburbs,” said Paul
G. Demik, Managing Member, DK Realty Partners.
“Naperville has been cited as one of the best places in the country to
raise a family, and this town has a proven ability to plan and attract
businesses of all types, making Naperville a desirable commercial and
residential place for real estate development and investment.”
The
purchaser of the Railway Plaza was by a private investor that maintains
significant real estate holdings in the Naperville, IL area.
DK Realty Partners, LLC was selected to sell the property based on its
proven track record of promoting and completing real estate transactions in both
commercial and retail environments.
“The commercial real estate market in 2005 should be strong for us,” said Paul Demik, Partner DK Realty Partners, LLC. “We are seeing significant real estate transaction opportunities across the board in terms of geography and applications. Additionally, a wide variety of creative financing options is available, reinforcing interest in buyers and investors.”
DK Realty Partners Closes In Excess Of $25.5 Million in Two Sales
December 2004 - David M.
Kaufman, CCIM, a principal of
Schaumburg based DK Realty Partners, LLC (www.dkrealty.com),
has announced the closings of the sales of two shopping centers for a total
consideration of $25,525,000.
The
90,000 square foot four year old ROCKFORD CROSSING SHOPPING CENTER, located at
the northwest corner of State and Perryville Roads in Rockford, Illinois sold
for $14,325,000. Tenants in the property included Best Buy, Linens ‘n Things,
Hallmark Card, Quiznos and Great Clips. “We were able to generate nine firm
offers in a very short period of time and marketed heavily through the use of
the Internet including placement of all due diligence materials on a restricted
website thus streamlining our sale process and substantially reducing the
purchaser’s due diligence period. The marketing budget only required
$5,000.” said Mr. Kaufman.
According
to Stephen A. Weiss, a principal of the seller, Halyard Group, LLC, “This sale
represented a return to our investors of over 80% on their invested capital in
addition to their annual cash flow of 10% during the two and a half year holding
period.”
Another
principal of Halyard Group, LLC, Larry Blankstein, commented, “Our firm owns
property principally in the Chicago area and the Midwest. We are currently
negotiating to acquire three new properties. We’ll buy fully rented property
or, similar to the Rockford Crossing Shopping Center, we will acquire, finish
build outs and complete the leasing of investment properties.” Lincolnwood,
Illinois based Halyard Group, LLC (www.halyardequities.com)
is a commercial real estate investment firm that makes investments in income
property available to qualified investors.
The purchaser of the property
was Kimco Realty (NYSE: KIM) which is the nation's largest publicly traded owner
and operator of neighborhood and community shopping centers, with almost 700
properties in 40 states, comprising approximately 100 million square feet of
leasable space.
Halyard
Group, LLC was represented by Martin Becker and Beth Sansiper of the Highland
Park, Illinois based law firm, Becker & Gurian. Mr. Kaufman was the sole
broker in the transaction.
The
94,400 square foot 47 year old GREEN OAKS SHOPPING CENTER located at the
southeast corner of 95th and Cicero in Oak Lawn, Illinois was closed
for $11,200,000 as a result of a public live cry auction conducted by Mr.
Kaufman at The Union League Club of Chicago. Green Oaks has approximately 92,000
square feet of in-line stores and a one story 2,400 square foot building on an
out-lot pad that is occupied by Wendy's.
Green
Oaks has a total of 17 tenants and the center enjoys 100% occupancy. Tenants
include Marshalls, Carpetland, Sav-a-Lot, H&R Block, American Vision, Hair
Cuttery, Sylvan Learning Center and Leslie Pool Supply. The center is located
four miles East of I-294 (Tri-state Tollway) and five miles West of I-94 &
I-57. The property was free and clear at the time of the offering and was sold
by the original developer’s land trust.
Mr.
Kaufman said, “This property sold at price reflecting a 7.75% capitalization
rate in an absolute live bidding auction. There was no reserve nor minimum bid.
The sale contract allowed no due diligence period, no mortgage contingency and
furthermore, required $100,000 cashiers checks for bid deposits with a
requirement on the high bidder to increase the earnest money to 5% of the high
bid at the conclusion of the bidding. The contract also required that the buyer
was accepting the property in ‘as-is’ condition.
“In
spite of these requirements, there were 17 registered bidders and given its age
and condition the property commanded a strong price in 6 minutes of bidding. All
this was accomplished with a marketing budget of less than $20,000”
Green
Oaks was purchased by a private investor.
Attorneys for the parties included Lawrence Ordower of Ordower & Ordower, Michael Kurtzon of Schwartz, Cooper, Greenberger & Krauss and Mark L. Karno of Mark L. Karno & Associates (all Chicago based law firms). Mr. Kaufman was the sole broker in this transaction as well.
DK REALTY PARTNERS TYLER NEPTUNE JR. NAMED
TO NATIONAL REGISTER’S WHO’S WHO LISTING
FOR
EXECUTIVES & PROFESSIONALS IN THE REAL ESTATE INDUSTRY
Mr. Neptune recognized for performance excellence
in
commercial real estate industry.
October 2004 - DK Realty Partners, LLC announced today
Attorney/Broker 
Tyler G. Neptune
Jr., has been named to the
National Register of Who’s Who Listing for 24 years of service in the real
estate industry.
“It is an honor to be recognized for my commitment to the commercial
real estate industry,” said Neptune. “My
approach to real estate has always been to think of what is best for both buyers
and sellers irregardless of whether I was acting in the capacity of attorney or
broker. This award is especially
satisfying because it showcases a proven track record for quality and
performance in providing real estate counsel and services to my clients.”
Mr. Neptune is a long term resident of the Fox Valley area for 20 years and works with DK Realty Partners clients throughout Illinois.
DK
REALTY PARTNERS CLOSES SALE OF LAKE GENEVA, WI
COMMERCIAL
RETAIL/RESIDENTIAL PROPERTY –
LOCATION IN HEART OF GROWTH MARKET
Lake Geneva market continues to attract business and real estate investors,
building on a very attractive location for retail, residential and investment real estate.
September 2004 - DK Realty Partners, LLC announced today the
negotiated sale of N 3310 County Road H, Lake Geneva, WI.
The single-story building, formerly the site of a family-run 20 year-old
business (Go-Fer-It), sold for $289,000. The
location will continue to be a site for a retail business, serving as a second
location for Dick’s Small Engine Repair. (The other location is in nearby
Fontana, WI). The property also has
attached living quarters, which includes three bedrooms, three baths, sauna,
large living room and fireplace.
The
6,350 square foot facility is located approximately two miles north of growing,
downtown Lake Geneva, WI. The
commercial portion of the building consists of a showroom with loading dock,
parts inventory room and a work and service shop. “We are seeing a strong “demand” trend for the Lake
Geneva market,” said Brian
Brossard, Sales Associate, DK Realty Partners.
“However with this trend, the community is doing a great job of keeping
a perfect balance of commercial/retail growth, with the steady increase of
residential expansion.”
“DK
Realty Partners really understood our needs as a seller, but it was their track
record in the WI market that made us feel comfortable in enlisting them to
market and sell our property,” said Sue Kendzior, seller/owner of Go-Fer-It.
“More importantly, our contact Brian (Brossard) made the sale process
seamless for us. He handled
everything from advertising, sales activities, negotiation and, of course,
close-of-sale. The end result was a
positive experience for us both in ease of process and and in receiving the
optimum value for our property.”
DK
REALTY PARTNERS INKS 5-YEAR LEASE WITH WOLOWICKI & ASSOCIATES IN LAKEWOODS
CORPORATE CENTER IN SCHAUMBURG, IL
Wolwicki & Associates Bucks Real Estate Vacancy Trend By
Upgrading to Desirable Schaumburg Area.
September 2004 - 
DK Realty Partners, LLC announced today the negotiated 5-year
lease for 25-year-old accounting firm, Wolwicki & Associates, LLC at 650 E.
Algonquin Road, Suite 200, Schaumburg, IL – Lakewoods Corporate Center.
Wolwicki & Associates moved from Downers Grove, Illinois to the new
location, driven by market needs and the ability to build-out the new space to
meet their unique business requirements.
The deal was inked by DK Realty Partners who represented landlord,
Halyard Lakewoods, L.P.
“We
were looking for a building that would be flexible in giving us a business
environment that could upgrade our presence to the market, while also meeting
the geographic criteria we had in mind,” said Jerry Wolowiki, Partner,
Wolwicki & Associates. “This
building is really a perfect fit for us. We
are close to our clients so they can visit us and the client’s who are not so
close, we are right near the highways. And
as for our employees, we are minutes from Woodfield Mall and great
restaurants.”
“We’re starting to turn the corner again in real estate, given the high vacancies in the Northwest suburbs” said David Kaufman, Managing Member of DK Realty. “The tenants we are working with have waited long enough to move into facilities that match their business needs, but they also want their business location to have the right appearance to their customers, employees and partner organizations.”
DK
REALTY PARTNERS CLOSES SALE OF
EVANSTON, IL COMMERCIAL/INDUSTRIAL PROPERTY
HELPS
SELLER RELOCATE BUSINESS TO NORTHWEST SUBURBS
New Owners Intend to Build Multi-Family Housing Development on Site
June 2004 - DK Realty Partners, LLC announced today the
negotiated sale of 645 Custer Avenue, Evanston, IL. The highly sought after property, formerly an
industrial site, sold for $755,000. This
location will be converted from commercial/industrial use to multi-family
housing comprised of townhouses and condominiums.
DK Realty broker Tyler G. Neptune, Jr. who sold the property, also
assisted the sellers in the negotiated lease of a new site for the relocation of
their business to the Northwest suburbs.
The
16,355 square foot facility with 100-feet of frontage has been sold to a private
real estate developer. “This is a
very desirable location for housing, given the ease of commute into the city or
outlying suburbs, as well as easy-to-get-to shopping,” said Paul G. Demik,
Sr., principal for DK Realty Partners. “We sense a trend in that many of these
types of commercial or industrial buildings located in or near residential
neighborhoods, have renewed attraction to developers looking to create
multi-family housing in these markets.”