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NEWS RELEASE

Mid-America Real Estate Closes on 3 Leases for Urban Project in Redevelopment at 237 E. Ontario

Noodles & Co., Five Guys & 7-Eleven to Open in Mid-2012

CHICAGO (August 1, 2011) – A 26,876 square-foot urban retail building formerly tenanted by the Museum of Contemporary Art and The Film & Tape Works Studios has signed its first three tenants while the building undergoes redevelopment for retail and restaurant use, according to Mid-America Real Estate Corporation Principal Steve Frishman. The building is located on 237 E. Ontario Street at the south end of Chicago’s Streeterville neighborhood.

Signed are Noodles & Company for 3,307 square feet; Five Guys Burgers and Fries for 2,520 square feet and 7 Eleven for 1861 square feet. These three tenants are located on the ground floor, which has 10,206 leasable square feet, of this three level building.

Mid-America’s Steve Frishman and Brian Adams brokered the leases on behalf of landlords Kari Blunda and Clint Mahoney. Noodles & Company was represented by Marc Rubin of CR&M Commercial Realty, Five Guys was represented by Mid-America’s Steve Frishman and 7-Eleven was represented by Adam Cody of SRS Real Estate Partners.

According to Mid-America’s Brian Adams, there is now only 2,518 square feet of space available on the ground floor and 8,050 square feet available on the combined second and third levels for retail, restaurant, office or studio space. “A total renovation of the building will begin late this fall,” he says. “The new tenants are estimated to open in summer of 2012. The renovation will include new storefronts on the ground level, escalator access to the second floor, and a large patio seating area for the restaurants, whose fronts are recessed along Ontario’s wide sidewalks.

The building on 237 E. Ontario Street was the home of the Museum of Contemporary Art until January 1996, when it was sold and redeveloped into The Film & Tape Works Studios. The studio closed its doors last summer. “This new redevelopment will create a dining destination for hospital employees, tourists in the local hotels, and most importantly, for the residents of Streeterville.” The project is only a few blocks from Northwestern Memorial Hospital and Northwestern University’s downtown campus. Adjacent restaurants include Corner Bakery, Chipotle, Potbelly Sandwich Works, Panera Bread and The Capital Grill.

Mid-America Real Estate Corporation is a member of Mid-America Real Estate Group, a ChainLinks affiliate. Mid-America Real Estate Group is a full-service retail real estate organization that has become the Midwest’s leader in retail investment sales. For more information, call (630) 954-7300 or visit www.midamericagrp.com.

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