WILMETTE, IL—Itasca, IL-based M&R Development has begun leasing for The Residences of Wilmette, a five-story, 75-unit rental community in Wilmette, IL, on Green Bay Rd. between Central Ave. and Wilmette Ave. The development, a joint venture with Deerfield, IL-based Globe Corp. and managed by Chicago-based RMK Management Corp., also includes 6,200 square feet of street-level retail space. “Like many suburbs, Wilmette has seen a surge in demand for luxury rentals, especially near its downtown, with convenient access to the Metra and various shops and restaurants,” says Anthony Rossi, Sr., president of M&R Development. “The combination of a prime location and jaw-dropping finishes throughout the community is sure to make The Residences of Wilmette appealing to a wide range of renters by choice who love this North Shore location.” Designed as a transit-oriented development, The Residences of Wilmette is less than one block from the Wilmette Metra station, providing residents with a 36-minute commute to Chicago's Ogilvy Transportation Center.

ROSEMONT, IL—Principle Construction Corp. has hired Dennis Crawford as a superintendent. In his new position at Principle, he will manage daily project field operations, including on-site coordination of subcontractor activities, safety enforcement, material and equipment management and coordination of the construction schedule. “With more than 20 years of experience in commercial construction, Dennis has a solid track record of success in ensuring that projects are completed on time and under budget,” says Michael Long, vice president of the firm. “We are looking forward to adding his insight to our leadership team.” Prior to working at Principle, Crawford was a field superintendent for a commercial construction company in Charlotte, NC, and delivered a 500,000 square foot manufacturing and cold storage facility in just five months and completed a 300,000 square foot warehouse with a 20,000 square foot addition for flammable storage within budget and ahead of schedule.

DEALTRACKER

CHICAGO—Holliday Fenoglio Fowler, LP has just completed a $270 million refinancing for JW Marriott Chicago, a 610-room, full-service, five-star luxury hotel in Chicago's Financial District. The HFF team worked on behalf of the borrower to place the five-year, fixed-rate loan with Natixis as lender. HFF will service the securitized loan, proceeds of which were used to refinance a maturing loan. Designed by Daniel Burnham and completed in 1914 as a 22-story office building in the Classic Revival style, the first 12 floors were converted into a hotel in 2010 with the remaining floors devoted to office space. The HFF debt placement team included senior managing director Michael Kavanau, managing director Danny Kaufman, senior director Jeff Bucaro and associate Nicole Aguiar.

DES PLAINES, IL—Podolsky Circle has been awarded the property management assignment for 1700 W. Higgins Rd. in Des Plaines, IL on behalf of Australia-based ownership, Quattro Asset Management. Podolsky Circle recently relocated its office within the building, offering the owners and tenants on-site management. “1700 W. Higgins is a Class A office building in the O'Hare submarket,” says Alissa Adler, managing principal. “We are proud to add this high-quality, well-positioned asset to our company's growing third-party property management portfolio.” Built in 1986, the six-story, 135,151 square foot office building is close to public transportation and the many highways leading to and from O'Hare International Airport. The property features recently renovated lobbies, corridors, elevators, café and restrooms, as well as spec suites, a conference center and expanded parking. The owner plans to make further building enhancements.