Although terms of the long-term deal were not disclosed, owner representative Cushman & Wakefield is offering space at 1560 Sherman Ave. starting at $28.50 per sf, which would make the deal worth $1.2 million a year on a gross basis.
The building is in an area seeing significant redevelopment, including the $100-million mixed-use Sherman Plaza project about a block away.
Thomas A. Bosshart, a vice president with Norwood-O'Hare Realty Group, Inc., represented family-owned Pivot Point, which operates cosmetology research centers and schools worldwide. Cushman & Wakefield senior director Howard R. Perino handled negotiations for Rotary International.
"(Pivot Point) was particularly impressed with the city's successful on-going revitalization program as well as its easy access to downtown Chicago via public and private transportation," Perino says in a statement.
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