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.
The sale of 600 Battery results in our investors receiving an equity multiple of 7.56x
2019 marks the 80th Anniversary of the founding of M & J Wilkow.
Marc’s son Jordan is elected to M & J’s Board of Directors in 2021, and then joins M & J full time in January 2023
M & J Wilkow and Bixby Bridge Capital team up to acquire Outlets of Maui
M & J Wilkow expands its third-party management program to include Water Tower Place, One Bellevue Place, and CenterSquare’s national Essential Service Retail Portfolio
Portfolio value reaches $3 billion