JFJ
09/22/14

KATHRYN ARNOLD

“It’s a little more free-form thinking — it’s not just forms,” says Kathryn Kovitz Arnold, of a practice area that allows her to enjoy taking a project from plans on paper to shovels turning soil.

A shareholder at Shefsky & Froelich, Arnold has built a broad-based real estate practice over 22 years, guiding projects from concept to closeout. As head of the firm’s condominium practice group, she focuses on condominium law and oversees construction, financing, and leasing for clients.

“I like going out in the field, and I like touring existing buildings that we make mixed uses and separate ownership of,” says Arnold. Arnold says she particularly enjoyed working on a ertical division for the John Hancock building, just a few blocks from her office

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8
09/17/14

SUPERIOR 110

Superior 110 soars to the sky in striking colors of brilliant white and rich blue.

The luxury condominium homes of Superior 110 are among the newest in Chicago and are also among the most luxurious.

“These stunning residences are imbued with unwavering quality, evidenced by the many high-end finishes, features and amenities available to each homeowner,” says the developer, JFJ Development Company of Chicago.

One- , two- and three-bedroom condominiums are available at Superior 110. The one-bedroom condos have a den and a bath-and-a-half. The two-bedroom units have two baths, and the three-bedroom condos have a choice of 2.5 or three baths. The three-bedroom condos are either half-floor units or terrace units.

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5
08/24/14

Harper Court

Harper Court is a mixed-use commercial development in the Hyde Park community area on the South Side of Chicago, Illinois, United States, that includes a Hyatt Hotel and a 12-story office tower that is leased and occupied by the University of Chicago. Although the hotel opened on September 17, 2013, the commercial structure, which also has extensive retail and parking space, officially opened on November 8, 2013. The University of Chicago exercised its option to purchase most of the development on November 13 and then put most of what it acquired up for sale in March 2014. The University provided much of the financing and retains a master lease over the retail tenants. The development was acquired by Clal Insurance Company in July 2014.

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9
06/25/14

Harper Court, Hyde Park and the Essence of Community

In its previous incarnation, Harper Court was a deteriorating remnant of past urban renewal. Evoking a 1960s strip mall vogue, two levels of retail were split off the plaza, with stairs leading down to shops below grade and another set of stairs going up to the second level. Trends in retail have changed, however, and it was proving difficult to retain tenants.

A revitalized Harper Court, something that could anchor Hyde Park’s 53rd Street corridor, was envisioned back in 2000. Toni Preckwinkle, then the neighborhood’s alderman, pushed through a TIF district in 2001 to help foster a cohesive and vibrant mixed-use district. She also launched a series of workshops to engage residents and to find out what changes they would like to see realized.

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3
03/07/14

University of Chicago Selling Harper Court Two Months After Buying It

HYDE PARK — The University of Chicago announced plans Friday to sell the Harper Court development two months after purchasing it for $98 million.

“It was never our intention to be the long-term owner of the property,” said Calmetta Coleman, a spokeswoman for the university.

The university purchased the development, which includes a 150,000-square-foot office tower leased by the university for 20 years, from Vermilion Development and JFJ Development in November.

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Dev2
01/01/14

A roundup of a hot development year

Harper Court
Harper Court opened after years of planning and was sold within a week to the University of Chicago.

Top brass from the University of Chicago, Vermilion Development, the City of Chicago, Hyatt Hotels and others that helped fund it cut the ribbon on the $139 million development on Nov. 8.

The university first bought the old Harper Court development in May 2008 for $6.5 million. It announced shortly thereafter that three of the four buildings would be razed to make way for a large-scale, mixed-use development.

“The university’s contract with Harper Court Partners allowed for the university to purchase the property, including Phase II, for approximately $98 million,” said Calmetta Coleman, director of communications for Civic Engagement at the U. of C.

The university purchased the property from Vermilion Development, JFJ Development and Canyon Johnson Urban Funds.

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15
11/02/13

Announcing the Harper Court Grand Opening Celebration, Friday, November 8

11/02/2013 – Announcing a grand opening celebration for Harper Court, featuring Grammy Award winning artist Estelle and DJ Dave Henry. Sample offerings from the newest retailers and restaurants coming to Harper Court along with local favorites.

READ MORE >>


4
10/23/13

University of Chicago Works on Its Neighborhood

CHICAGO — The University of Chicago is midway through what it characterizes as a “once in a generation” community redevelopment effort aimed at revitalizing 53rd Street, a blighted retail district several blocks north of its historic Hyde Park campus here.

The $250 million project includes Harper Court, a new 600,000-square-foot, mixed-use project at the corner of 53rd Street and South Lake Park Avenue, along with the renovation and restoration of the adjacent Harper Theater complex, which consists of a long-closed historic movie theater as well as retail and office space. In addition, the university is renovating several other nearby retail properties and is in the early stages of planning a second mixed-use project on a site it owns further up the street.

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01
10/22/13

ULI Case Studies

Harper Court is a mixed-use project—including office, retail, hotel, and
parking uses—located on a 3.18-acre site in the Hyde Park neighborhood
on the South Side of Chicago near the University of Chicago campus. The
project was initiated by the city of Chicago and the university, with the objective
of revitalizing a strategic commercial location important to the university
campus and near transit. The project has been integrated into the existing
street fabric and includes a new internal street. A second phase is planned
to include up to 400,000 square feet of residential, hotel, and/or office space.

Read full article.


7
08/08/13

Neighborhood Spotlight: Hyde Park

It’s anchored by UChicago and the Museum of Science and Industry, but Hyde Park is most commonly known as the second home of President Obama. (It’s where he comes when the White House is being fumigated.) Now it has something more: development buzz.

Mixed-use project Harper Court, located at the corner of 53rd and Lake Park, is being developed by a public/private partnership among UChicago, the City, Vermilion Development, and JFJ Development (Vermilion managing director Chris Dillion is snapped there, above). Tenants will include LA Fitness, ULTA Beauty, Chipotle, and others in 75k SF of retail. (Work out, get a facial, eat a burrito… Look out apple pie and baseball: This is America.) UChicago and Hyatt will complete the development, adding 150k SF of office space and 131 hotel rooms, respectively. The Harper Court project is also affiliated with several UChicago projects running down 53rd Street and the nearby Harper Theater.

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JFJ
07/09/13

Harper Court Achieves LEED-ND Gold Designation | Harper Court

Harper Court, a major, mixed-use development in Chicago’s Hyde Park neighborhood, has earned one of the highest ratings in the nation for sustainable neighborhood design and building.

The U.S. Green Building Council has awarded the project a LEED for Neighborhood Development Gold rating – making Harper Court the highest LEED-rated project of its kind in the State of Illinois and among the top in the country.

Harper Court, developed through a partnership among the City of Chicago, the University of Chicago, local officials and Harper Court Partners, LLC, includes an office tower, a select service hotel, retail space, parking and outdoor gathering areas. Harper Court is scheduled to open in 2013.

Among the highlights of the plan, Harper Court scored high marks for its smart location within a densely populated neighborhood offering multiple public transit options, walkability and connectedness to the broader 53rd Street commercial corridor. Harper Court will establish a pedestrian-oriented, urban core within the Hyde Park neighborhood, which will further catalyze retail growth in the vicinity. The project’s sustainable message will be further strengthened with bike share and environmental education programs.

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16
11/02/11

CONSTRUCTION BEGINS ON $106M REDEVELOPMENT OF HARPER COURT IN CHICAGO

CHICAGO — Canyon-Johnson Urban Funds and a joint venture between Vermillion Development Inc. and JFJ Development, will work together on a $106 million redevelopment of the mixed-used Harper Court in the Hyde Park neighborhood in Chicago. The two phase project will include the construction of a 150,000-square-foot office tower and more than 425 residential units. James McHugh Construction Co., the project’s general contractor, has begun to mobilize the Harper Court site. The project is slated for completion in 2013.

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JFJ
10/31/11

Canyon-Johnson Urban Funds Joins with Harper Court Partners on Mixed-Use Development in Chicago

Canyon-Johnson Urban Funds Joins with Harper Court Partners on Mixed-Use Development in Chicago

Canyon-Johnson Urban Funds (CJUF) has teamed with Harper Court Partners, LLC, a joint venture between Vermilion Development, Inc. and JFJ Development, on the redevelopment of Harper Court in the Hyde Park neighborhood of Chicago. The mixed-use project represents over $106 million of investment in the local area and collaboration between several public and private entities that provided equity, land and financing to bring a mix of commercial office, retail, residential and hospitality uses to a 3.3 acre site at the corner of 53rd Street and South Lake Park Avenue.

The project will be constructed in two phases, beginning with a nine-story, 150,000 square-foot office tower that has been leased to the University of Chicago. This lease is one of the largest to be signed in Chicago this year. The office tower will be integrated with structured parking and a three-story retail building anchored by LA Fitness. A Hyatt Place hotel will also be included in the project’s first phase. During the project build-out, the team will focus on leasing the remaining available ground-floor retail space to soft goods retailers, entertainment venues, as well as casual and fine dining restaurants.

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JFJ

Canyon-Johnson Urban Funds Joins with Harper Court Partners on Mixed-Use Development in Chicago

CHICAGO–(BUSINESS WIRE)–Canyon-Johnson Urban Funds (CJUF) has teamed with Harper Court Partners, LLC, a joint venture between Vermilion Development, Inc. and JFJ Development, on the redevelopment of Harper Court in the Hyde Park neighborhood of Chicago. The mixed-use project represents over $106 million of investment in the local area and collaboration between several public and private entities that provided equity, land and financing to bring a mix of commercial office, retail, residential and hospitality uses to a 3.3 acre site at the corner of 53rd Street and South Lake Park Avenue.

The project will be constructed in two phases, beginning with a nine-story, 150,000 square-foot office tower that has been leased to the University of Chicago. This lease is one of the largest to be signed in Chicago this year. The office tower will be integrated with structured parking and a three-story retail building anchored by LA Fitness. A Hyatt Place hotel will also be included in the project’s first phase. During the project build-out, the team will focus on leasing the remaining available ground-floor retail space to soft goods retailers, entertainment venues, as well as casual and fine dining restaurants.

Read full article…


11

Canyon-Johnson Teams With JV for Hyde Park Project

Canyon-Johnson Urban Funds and a joint venture between Vermilion Development, Inc. and JFJ Development will work together on a $106 million redevelopment of the mixed-use Harper Court in the Hyde Park neighborhood of Chicago.

Activity on the long-delayed redevelopment of Hyde Park has picked up this year. Canyon-Johnson and its partners’ mix of commercial office, retail, residential and hospitality uses will be constructed in two phases on 3.3 acres at 53rd Street and South Lake Park Avenue, starting with a nine-story, 150,000 square-foot office tower and construction of up to 425 residential units in the second phase.

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13
10/13/10

Developer picked to replace Harper Court

City officials are putting the finishing touches on a Hyde Park development deal that’s a coup for a firm known mostly for work in Midwestern college towns.

But it was the experience in improving “campus towns” that caused City Hall and the University of Chicago to select Vermilion Development Inc. to take charge of the project, which calls for demolishing the obsolete Harper Court shopping center at 5211 S. Harper. Vermilion would replace the shopping center with a 12-story, 150,000-square-foot office building, about 100,000 square feet for retailers and parking for 435.

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JFJ
03/11/10

‘Downstate kid’ to lead Hyde Park project

(Crain’s) — A Downstate native with two small college-town projects under his belt scored an unlikely coup by winning the right to lead a $240-million mixed-use development near the University of Chicago.
City and university officials bypassed well-known local developers to select David Cocagne, 32, for an office/retail project on the site of the Harper Court shopping center that would include a hotel and residential units in a second phase.

Even Mr. Cocagne, CEO of six-person Vermilion Development Inc., admits his firm was a long shot for the job, the biggest it has ever tackled….

Source article.


6
08/17/09

New-Construction

Every Monday, with help from our friends at YoChicago.com, we present vital data on five condos under construction.

To view Building Profile on ChicagoCondosOnline.com, click address. To visit developer’s Web site, click name. To use Chicago’s best condo search engine to review in-depth profiles of 900+ new-construction properties and find the unit types that meet any combination of 100 preferences, click here.

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JFJ
03/17/09

Five compete on Hyde Park development

City planners said Monday they’ve picked five bidders to compete for the right to redevelop the Harper Court shopping center in Hyde Park.

Harper Court, at 5211 S. Harper, has been plagued by vacancies and disrepair.

Most of it would be demolished. Beyond that, the city’s Department of Community Development has given developers wide latitude to propose various uses.

Named to submit detailed plans were Joseph Freed & Associates LLC, the developer of downtown’s Block 37; a venture involving McCaffery Interests Inc. and Taxman Corp.; a venture involving Mesa Development LLC and Walsh Investors LLC; Metropolitan Properties of Chicago LLC, and Vermilion Development Inc. …

Source article…


10
12/23/08

Standing Tall

JFJ Development has already done two other projects on the 100 block of West Superior Street—Superior West and Superior at LaSalle—but because of an exemption from local height restrictions, the company’s Superior 110 rises above those earlier buildings by more than ten stories. Working from a design by Hartshorne Plunkard Architecture, JFJ has erected a 28-story building whose sapphire-blue façade irresistibly lifts the eye upward.

Inside, that additional height means Superior 110’s slim, elliptical residential floors offer broader views than in buildings just a few blocks east toward Michigan Avenue. And should you cast your eye upward from the living room floor, you will see a drywall-finished ceiling—distinct from the more common skim-coated concrete ceiling—that nicely conceals lighting and wiring. That same detail allows for a narrow space between the drop ceiling and the window wall into which roll-up shades can disappear when opened.

Of the building’s 58 units, 13 remain for sale, according to Greg Eldridge of @properties, the sales agent for Superior 110. Prices run from $542,351 for a 1,150-square-foot one-bedroom condo with a balcony, to $1,626,625 for a 2,550-square-foot three-bedroom condo with two balconies. Indoor parking spaces start at $42,000. All units should be ready for occupancy by the end of March.

Source article…


12
11/12/08

Law Bulletin Seminars

Over 200 real estate professionals gathered at the 2008 Real Estate Law Conference on November 12th at the Westin River North. The conference brought together 38 leaders from the real estate industry to cover twelve topics across three tracks of programming. View the Chicago Daily Law Bulletin article recapping the event.

The program was developed with the guidance of our distinguished Real Estate Law Advisory Board.

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JFJ
12/10/07

River North sells 50 percent of units, hits milestone

After recording nearly $5 million in sales at Superior 110 in the month of August, Chicago-based JFJ Development announced it hit the 50-percent-sold milestone at its River North high-rise, currently under construction at 110 W. Superior St.

Located between LaSalle and Clark streets, Superior 110 is a 27-story glass and steel building with 62 residences offering floor plans of one bedroom plus a den to three bedrooms plus a den, 1½ to 3½ baths, and 1,150 to 2,820 square feet of living space. Base prices start in the $517,000s, and parking is available for $40,000 to $48,000 per garage space.

Buyers are impressed with the building’s contemporary architecture and River North location, and the stylish finishes in every residence.

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JFJ
07/22/07

MJ PARTNERS CAPITAL SERVICES SECURES CONSTRUCTION LOAN FOR DOWNTOWN CHICAGO TOWER

CHICAGO (July 2007) – – MJ Partners Capital Services secured financing for the construction of a 26-story, 77-unit luxury condominium tower in Chicago’s Streeterville neighborhood. MJ Partners Capital Services assisted JFJ Development Company in a securing a $6.6 million acquisition loan plus
construction and mezzanine loans totaling $42 million.
The development, called Superior 110, is the third development by JFJ Development Company in the Superior Street corridor. Superior 110 will feature 77 finely-appointed condominium esidences located steps from North Michigan Avenue. The 26-story tower was designed by renowned architects Harthshorne & Plunkard. The curved glass design generated strong unit sales within the first three months of marketing.
Lance Prusak, Vice President with Cleveland-based National City Bank provided the financing. National City Bank committed to Superior 110 based on JFJ Development Company’s development experience in the area and the pace of pre-sales. “Superior 110 offers a sleek design and outstanding location. The Borrower’s qualifications and marketing plan were attractive to the sources of capital that evaluated the deal,” noted Dennis Nyren, principal with MJ Partners Capital Services.
Chicago based-MJ Partners is a market leader in providing a complete range of commercial real estate brokerage services and financing. We are a relationship-based, technically-advanced team of
sophisticated real estate professionals. For more information, visit the company website at www.mjpartners.com.

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JFJ
05/23/07

First New High-Rise along South Shore’s Lakefront in 30 Years

Plans for a brand new 19-story condominium are under way in Chicago’s South Shore. Breaking a streak decades in the making, the residential building will be the first new high-rise along the South Shore’s lakefront in 30 years.

Still largely untouched by the residential development boom that has hit Chicagoin recent years, the city’s SouthShorewill be the site of JFJ Development Company’s new high-rise, the first since the 28-story Quadrangle House was completed in 1968.

Situated on the corner of East 68th Street and South Shore Drive, the 128-unit condominium building will have an attached section of three-story, three-bedroom townhomes. The new structure will replace three separate two-story buildings that are being razed for the $60 million project.

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JFJ
05/16/06

Zoning OK sought for South lakefront tower

High-rises are so common on the North Side lakefront that there are few places left to put them. The South Side lakefront has more land, but fewer developers are willing to take a chance on it.

So a lot of investors will be watching how JFJ Development Co. fares with a plan to build at 6740 S. South Shore Drive. The firm’s president, Jon Zitzman, and his architect said the 20-story building would be the South Shore area’s first high-rise in at least 30 years.

The planned $60 million condominium building would overlook Jackson Park, the South Shore Cultural Center and the lake, enjoying a view of downtown from an angle many Chicagoans never see.

Zitzman has asked the city for a zoning change that would let him build 132 units, including six townhomes that he figures he can sell for at least $1 million. …

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JFJ
08/22/03

Taking a sound approach to reducing excess noise

Most people who buy a townhouse or condominium never think to ask the developer or seller how noise resistant the unit is.

That’s a mistake.

For too many, it’s only after they move into their new home they discover it lacks the sounds of silence.

And by then it’s too late.

Unfortunately, unwanted noise from adjacent units is a problem that’s more than just unpleasant to the ears.

“Noise creates friction between neighbors, and when neighbors don’t get along it really affects the greater community at large,” said David Kleiman, co-principal of D2 Realty Services, a Chicago developer that builds and owns high-rise residential properties, office buildings and shopping centers.

“People come to the association meetings and get a sense there’s friction going on, and it has a negative impact on people’s perception of the community,” he said. “It has an impact on everybody.”

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JFJ
03/04/01

4 Expensive Condos To Replace 17 Rentals

NEAR NORTH SIDE — A historically significant building at 18-22 E. Division St., now home to 17 rental apartments, will be converted to four condominiums.

The Chicago Plan Commission approved the project and granted permission to add a fourth level to the 3 1/2-story building.

Equity Development Group, a partnership between Jon Zitzman and Skip Gilmartin, will gut the building to make way for a 4,100-square-foot unit on the ground floor, 4,500-square-foot units on the second and third floors and a 3,000-square-foot condo with two large terraces on the fourth level.

Equity, which has built townhouses and condos in Lincoln Park and Lake View, closed on the building a month ago and met with little resistance to its addition of half a floor.

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JFJ
03/19/14

HEADLINE GOES HERE

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JFJ
03/13/14

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