M & J WILKOW HISTORY
From our first acquisition in the summer of 1939 to surpassing $2 billion in assets under management today, M & J Wilkow has been creating value in real estate for generations.
The Wilkow Family arrives in Chicago and M & J Wilkow is established by Robert Wilkow and his sons Mendel and Joseph to invest in real estate assets. Their first office is at 7 South Dearborn Street.
Completion of first acquisition, which is a 54-unit apartment building located at 67th Street and Creiger in Chicago. The property is purchased for $92,000 and financed with a $55,000 mortgage loan. In 1953, the property is sold for $240,000.
Completion of first syndication, raising $25,000 of equity capital to acquire an apartment building located at 55th Street and Everett in Chicago.
Mendel’s son William joins M & J – the third generation!
Acquisition of stock of 1400 Lake Shore Drive Corporation, thereby acquiring control of the 290-unit apartment tower on North Lake Shore Drive – formerly a “restricted” residential co-op.
Acquisition of first office building – a 300,000 sq. ft. office tower located at 222 West Adams Street in Chicago for $4,282,000. In 1986, the property is sold for $38,721,000.
Acquisition of first shopping center – a 232,000 sq. ft. retail property called the Scottsdale Shopping Center (79th and Cicero) in Chicago for $3,200,000. The property was sold in 1978 for $5,375,000.
Acquisition of second office building – a 206,380 sq. ft. office tower located at 180 North Michigan Avenue in Chicago for $6,550,000. The property was sold in 2007 for $22,6000,000. Record for longest holding period.
William’s son Clif joins M & J in 1976 – the fourth generation! In 1977, William’s oldest son Marc joins M & J after practicing law for three years.
M & J assumes operational control of many assets in its portfolio, while building asset and property management groups, thereby transforming itself from a passive investor to an active value creator.
GE Capital becomes M & J Wilkow’s first institutional client/investor in connection with the turnaround of distressed assets.
Marc’s son Gregg joins M & J in 2007 – the fifth generation!
Acquisition of 717 Grant, a 135,000 sq. ft. vacant office building for $3,750,000. A sale of the property is closed on November 13, 2013 for $7,000,000. Record for shortest holding period.
Property portfolio surpasses 7 million sq. ft. and is valued at $1.12 billion.
M & J Wilkow teams up with MetLife to acquire Magnolia Park (468,154 sq. ft.) and Town Center of Mililani (449,112 sq. ft.).
M & J Wilkow relocates to 20 South Clark Street in Chicago.
M & J Wilkow teams up with USAA to acquire the East Gate Square Shopping Center (771,856 sq. ft.).
M & J Wilkow’s property portfolio surpasses 10 million sq. ft. and is valued at $2 billion, with properties located as far west as Hawaii and as far east as South Carolina.
2019 marks the 80th Anniversary of the founding of M & J Wilkow.