phillips martin real estate profile
Phillips Martin Real Estate was incorporated in 1989 by McGinn and Brashears based upon their combined knowledge of commercial real estate and asset management. Phillips Martin possesses the experience and financial strength to grow in all aspects of the commercial real estate business, providing transactional advisory and asset management services to private, corporate and institutional investors.
Recently, Phillips Martin developed a 20,000 square foot, three-story, single tenant building at 162 East Superior adjacent to Neiman Marcus just one half block east of Michigan Avenue in downtown Chicago, now home to Gino’s East. The company also acquired and managed a 57,000 square-foot center located at 100 East Roosevelt Road called the Courtyard Shopping Center which it sold in 2007 for a 19% return. Although the principal geographic area of operations has been the Chicago metropolitan area, Phillips Martin has fulfilled assignments for clients throughout the country. With integrity and a sound business judgment as the hallmarks of the company, Phillips Martin organizes financial data in an institutional format in order to successfully negotiate and complete each transaction.
Phillips Martin Management was established by Brashears and McGinn to manage various apartment, retail, industrial and office properties developed or acquired through the Phillips Martin Partnership. Phillips Martin manages the Iroquois Club, a 272 unit, 385,000 square foot residential building in Naperville, Illinois and also manages Greenbriar Place Condominiums in Glen Ellyn, Illinois. All properties developed, owned and managed by Phillips Martin share the common elements of superior location and design. The company’s officers and associate partners are dedicated to the professional representation of their client’s best interests which establishes long lasting business relationships.
National Realty & Investment Company was founded in 1930 by Edwin L. Brashears, Sr. and renowned Architect, Benjamin H. Marshall. The two had teamed up to manage Chicago’s Drake and Blackstone Hotels and developed the adjacent Drake Towers co-operative apartment building – Marshall serving as architect and Brashears as engineer for the project. National Realty later acquired the Drake Hotel, which it owned and operated until 1979 when the company converted its position to Landlord under an unsubordinated reversionary ground lease.
In 1960, National Realty acquired 60 acres in Oak Brook and developed The Drake Oak Brook Hotel that was easily accessible to O’Hare International Airport and Chicago and acted as the suburban affiliate to the internationally famous Drake Hotel. The company continued its development of the site in 1980 by constructing the Drake Oak Brook Office Plaza undertaken by then-President, Edwin L. Brashears, Jr. with joint venture partner, Traveler’s Insurance Company. The 250,000 square-foot, twin-tower atrium office building attained 80 percent occupancy within a year of opening and featured underground parking connecting it to the hotel.
National Realty sold the Drake Oak Brook Hotel in 1983 and the Office Plaza in 1990. National Realty extended its real estate holdings in 1987 by developing the 385,000 square foot, 272 unit, Iroquois Club in Naperville, Illinois. Since being elected as operating officers in 1991, Stanley P. Brashears and James M. McGinn have increased the company’s holdings which include stocks, bonds and various real estate investments.