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Chicago & Midwest  + Illinois  + Office  | 

Angelo, Gordon & Co. Snags Presidents Plaza in Chicago for $147M

Angelo, Gordon & Co. acquired Presidents Plaza, a pair of Class A office buildings in Chicago’s O’Hare submarket for $147 million. The seller was a partnership between Chicago’s GlenStar Properties, LLC and an undisclosed global real estate investment manager.

Located at 8600 and 8700 W. Bryn Mawr Ave., the 92.4%-leased assets were developed in 1980 and total 834,893 square feet. The high caliber tenant roster includes institutional-quality and investment-grade firms. The property, which is LEED Silver and EnergyStar certified, has been institutionally maintained and has received more than $15 million in capital renovations since 2016.

Angelo, Gordon & Co.’s Scott Glassberg says, “Presidents Plaza is ideally located in O’Hare, which has emerged as Chicago’s strongest suburban submarket due to its direct access to downtown mass-transit and convenient drive times to the city’s residential neighborhoods.”

JLL’s James Postweiler and Peter Harwood led the team handling the transaction.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition