Beitler has successfully closed two lease transactions at 11 South LaSalle. The recent lease transactions include: Weldon-Linne & Vogt, Ltd. and Dawn Carroll, Inc.

John Paul Beitler III and Michael W. Reschke, Jr. of Beitler Real Estate represented 11 South LaSalle while Molly Fegan of U.S. Equities Realty, LLC represented
Weldon and Jim Raisher of Corporate Real Estate Solutions, Inc. represented Dawn Carroll.

Beitler has successfully closed two lease transactions at 208 South LaSalle. The recent lease transactions include: Dempsey Partners LLC and Glick and Trostin.

John Paul Beitler III and Michael W. Reschke, Jr. of Beitler Real Estate represented 208 South LaSalle while Dan Smolensky of The Modal Group represented Dempsey and Ira Pearlman of Howard Ecker & Company LLC represented Glick.

This historic landmark building was built in 1911 by famed architect DH. Burnham. It s 21-story steel frame classical revival style building once served as an office and banking complex. The building has a 155 by 54 central open light court that makes for a bright space for tenants in most locations in the building.

Yet, after many decades of wear, the building had lost its luster. Michael Reschke, Sr., founder of the Prime Group, saw the potential in this 580,000 sq. ft. building and purchased it in 2006. He hired Chicago s local favorite architect, Lucien La Grange to re-design the space.

Reschke wanted more than just offices in the building and was able to secure the J.W. Marriott hotel to take floors 1-12 by converting it into hotel rooms, conference center, restaurant, lobby bar and spa/health club. The grand entrance features a three-story glass curtain wall that allows light to spill into the street and expose the hotel s full lobby, adding energy an to the hotel s elegant design.

The real perks for a tenant in 208 South LaSalle is the direct access to the J.W. Marriott, which has become one of the most popular hotel properties in the City! This New York-style hotel with its enormous lobby, features a bar with a fireplace, and is a wonderful place to bring your client when you want to meet outside of your office. Why pay more for more office space than you need when you have a Class A hotel in your building?

Nestled in the lower level of 208 South LaSalle is the hottest premiere health club and spa in the City right now! Named the Valeo, it is owned and operated by Maximus Worldwide with other locations in Las Vegas and SouthBeach, where spas are an integral part of a life. Why not here in Chicago where downtown workers can find some RNR away from the chaos of the City? It offers a generous discount to both the office tenants and hotel guests, so you and your client can both enjoy the experience.

The leasing agent for 208 South LaSalle is Beitler Real Estate Corp who also acts as the leasing company for the Prime Group s other office building at 11 S. LaSalle. CEO, J. Paul Beitler, is a 35-year Chicago real estate veteran who has developed over 10-million sq. ft. of Class A office space and manages 30-million sq. ft. of office space in 16-states.

J.P. Beitler III and Michael Reschke, Jr. handle the leasing for the Beitler Real Estate Corporation. There s a real comfort and clarity in working with them to ensure the right space that makes a would-be office tenant feel they made the right choice.

Rental rates for the 208 South LaSalle building are $26-27/sq.ft. “all in” which includes real estate taxes and operating costs. Office spaces are available from as small as 500sq. ft. to 18,000 sq.ft. This makes this a great choice for smaller tenants that want the same amenities as larger tenants without paying the price. The office space is “turn-key” for new tenants with space built out to their needs. All they have to do is “turn the key” and it s all set to go.

The real perk for office tenants is the Valeo spa/fitness center. It is offered at $175/month with no initiation fee, but a “$1200″ bank that is held for future spa services rendered, all at a
discount to the office tenants. More on this spa in my next blog! It s very special.

For more information on 208 South LaSalle, please contact JP Beitler or Michael Reschke, Jr. at 312/768-7000. www.beitlerre.com

Read more:

http://www.chicagonow.com/blogs/todays-chicago-woman-jobs-money-opinion/2011/05/hottest-office-space-in-town.html#ixzz1LaVeIxlq

11 South LaSalle is a 330,000 square foot, 36-story historic landmark building in the heart of Chicago’s historic LaSalle Street financial district. The Owner’s insightful redevelopment of 11 South LaSalle has returned the building to its original splendor and proper place in the architectural landscape of Chicago. The ground floor office lobby has been fully renovated
with limestone floors, mahogany paneled walls, stainless steel elevator doors and a card key access system.
Learn more at
www.11southlasalle.com.

208 South LaSalle is a 350,000 square foot, 21-story historic landmark building in the heart of Chicago’s historic LaSalle Street financial district. The Owner’s insightful redevelopment of 208 South LaSalle has returned the building to its original splendor and proper place in the architectural landscape of Chicago. The ground floor office lobby has been fully renovated with Italian marble floors, a new retail corridor and a card key access system.

Learn more at www.208southlasalle.com.

Posted By Dan
Rafter

http://www.rejournals.com/2010/06/15/j-paul-beitler-signs-of-hope-and-cautionary-notes/

J.
Paul Beitler is one of the bigger names in commercial real estate. He’s
president of Chicago-based Beitler Real Estate Corporation. During the last
three decades, Beitler and his companies have negotiated more than 7,000 leases,
managed more than 30 million square feet of space in 16 states and developed 10
million square feet of buildings. He recently spoke with Midwest Real Estate
News about the recovering commercial real estate market and what might knock
this recovery off course.

Midwest Real Estate News: We’ve been
looking for signs of hope in the commercial real estate market for some time
now. Do you have any for us?

J. Paul Beitler: There are certain weather
vanes that we look for in commercial real estate to give us some idea if there
are improvements in the market. Number one, is demand. We can’t create demand.
We respond to it. To the degree that we see an increase in demand for commercial
space, be it retail, office or industrial, then we know that the bottom of the
cycle has been reached and we are starting to see a recovery. Secondly, is the
availability of capital for construction loans for new projects. This is a very
important weather vane for us. Capital is the sole ingredient that allows new
property development to take place other than, of course, demand. We are
starting to see commercial banks open to discussing providing construction loans
for new projects.

Thirdly, we look to the vacancy rate within existing
properties. When that rate stabilizes and starts to show positive absorption,
however small, then we know that there is a possibility of stabilization. If
that trend continues for six months, meaning that for six months vacancy
stabilizes or decreases, that is a fair indication to us that stabilization is
occurring.

MWREN: What are you seeing in these three indicators
now?

Beitler: Right now, all three of these important economic indicators
are showing positive signs. We are seeing an increase in demand, the
availability of capital and the stabilization of vacancy rates, at least in
Class-A buildings. However, there is a cautionary note: At the end of this year,
the tax cuts that were initiated during the Bush administration will terminate.
Currently, there has been no indication from the Obama administration that those
tax cuts will be terminated, thus causing an increase in taxes, or if they will
be extended for a period of time. Until there is a public announcement as to the
current administration’s policy pertaining to those tax cuts, the stabilization
process will continue but at a very guarded, slow pace. If the administration
announces the extension of those tax cuts, that will be the first solid
definitive move on the part of this administration that will bring stabilization
to the business community so that they will have a definitive period of time to
know what their tax obligations will be. That will result in accelerating what
we view to be the current slow recovery.

MWREN: So you do see hope out
there?

Beitler: There is always hope regardless of how dark the future
may look. But hope alone can’t be a business strategy or a political
administration’s platform. There has to be a definitive plan to provide
political and economic stability that can be measured and can be depended upon
for a protracted period of time.

MWREN: In your opinion, do you think the
Obama administration will extend the tax cuts?

Beitler: It’s not looking
good. Currently there are more people employed across the nation in governmental
jobs than in the private sector. That has to stop. It is a regressive form of
recovery.

MWREN: We do hear a lot about positive signs, whether in the
economy in general or in commercial real estate. But these days don’t really
feel like a recovery. Why is that?

Beitler: The recovery hasn’t been
sustained long enough to establish credibility. We have created a consumer-based
society. Our economy depends upon the individual consumer having expendable
income beyond the bare necessity of home, clothing, food and a car. If there was
excess on consumer side during the good years, it was due to the lack of checks
and balances on the credit system. We now have imposed some substantial checks
and balances that will prevent credit abuse. Now we need a period of
stabilization so that the consumer can do two things: First, consumers need to
begin to save money. And second, they have to take a portion of their earnings
and purchase consumer products.

MWREN: Is our economy one that won’t work
if consumers are frugal?

Beitler: Our economy doesn’t work if consumers
are frugal. You either have trickle-down consumerism or trickle-up
poverty.

MWREN: Has the Midwest fared better during the recession and the
slow recovery than have other markets?

Beitler: I think that’s a myth.
Traditionally, the Midwest recovers six months behind the West and East coasts
in real estate. By the same terms, when there is a decline in either coast, the
Midwest lags that decline by about six months. Further, the rents as well as the
costs to build in the Midwest tend to be 20 to 30 percent lower than on the
coasts, the West and East coasts. It’s not unusual to see a rent increase for
office space in New York City that is greater than the base rent owners can
achieve in their buildings in Chicago. What does make the Midwest desirable from
an investment standpoint is that you do not have volatile swings in rents and
values. It tends to be a more stable investment. It’s more predictable. That’s
why the investment community likes to add a portion of their portfolio from the
Midwest. It acts as a stabilizer.

Copyright © 2010 REJournals.com. All
rights reserved.

Thursday, June
10, 2010

The Rat Pack of commercial real estate is back for one
afternoon only! These real estate pioneers paved the way for our industry. They
weathered the highs and lows of the ‘70’s and ‘80’s, and they survived the
roller coaster ride of the ‘90’s and 2000’s. Please join us for an afternoon of
real estate nostalgia. We will explore our industry’s rich history, its
personalities and all of its intrigue.

Panel:
Eugene Golub, Chairman,
Golub & Company
Paul Beitler, President, Beitler Real Estate
Corporation
Richard Stein, Senior Managing Director, Mesirow
Financial

Moderator:
Richard Abraham, President, The Richard Abraham
Company,
LLC

http://chicago.corenetglobal.org/CORENETGLOBAL/Chicago/Home/Default.aspx

Download
PodCast

http://chicago.corenetglobal.org/CORENETGLOBAL/Chicago/ResourceCenter/Presentations1/Default.aspx

Beitler Properties LLC recently represented Daniel
P. Coffey & Associates, Ltd. (DPCA), located at Willis Tower, with their
lease renewal for 8,390sf. After an extensive review of the Chicago market,
Beitler was able to negotiate favorable renewal terms for the 25 year old
architectural firm.

John Paul Beitler III of Beitler Properties LLC
represented DPCA while Mike Kaz of U.S. Equities Realty represented Willis
Tower.

Beitler Properties LLC represented Vanguard Technology
Corporation in their renewal at 221 North LaSalle Street. Beitler was able to
successfully lower Vanguard’s rental obligations and obtain flexible lease terms
for Vanguard.

John Paul Beitler III of Beitler Properties LLC represented
Vanguard while Russ Cora of Lincoln Property Company represented 221 North
LaSalle Street.

John Paul Beitler III of Beitler Properties LLC
represented Aquitec while David Arolia of Chicago Realty Company represented the
Landlord.

Beitler Properties LLC represented HLB Communications, Inc.
in the renewal of their office lease at the John Hancock Center. HLB explored
several options before deciding to renew its 6,009 square foot lease. Beitler
was able to secure a competitive lease agreement that allowed HLB the
flexibility to expand in the future.

John Paul Beitler III of Beitler
Properties LLC represented HLB while Debbie Frank of Golub Realty Services LLC
represented the Landlord.

Beitler announces that John Paul Beitler III, Vice
President, has earned his Leadership in Energy and Environmental Design Green
Associate credential from the U.S. Green Building Council.

The LEED GA
credential indicates a persons understanding of green building principles and
techniques.

http://bisnow.com/events.php