Ventas’ Cafaro sees compensation double to $18.5 million
Debra Cafaro, chairman and CEO of Chicago-based Ventas Inc., earned $18.5 million in 2011, a 117 percent leap over 2010, according the real estate investment trust’s recently filed proxy statement. “The performance has been clearly exemplary,” a Ventas spokeswoman says. Ms. Cafaro’s compensation package spiked after the Ventas board granted her a “special equity incentive award” of 152,934 shares of restricted stock in March 2011, which were worth $8 million at the time and began vesting last month. The board also made the award in part because it “rebalanced” her pay last year, eliminating a severance-related provision. Ms. Cafaro’s compensation was $8.54 million in 2010.
Medicaid benefits administrator extends lease in Schaumburg
Automated Health Systems Inc. extended its lease for 25,030 square feet in the Woodfield Financial Centre in Schaumburg, according to Jones Lang LaSalle Inc., which represented building owner Fulcrum Asset Advisors LLC. The Medicaid benefits administrator has been a tenant since 2006 in the 183,000-square-foot complex at the corner of Woodfield and Meacham roads. An executive with Automated and Max Chopovsky of Cushman & Wakefield Inc., who represented the company, decline to comment. “It’s been a challenging market in Schaumburg as of late, and we’re happy to retain this group as a long-term tenant in the building,” says Rick Benoy, a senior vice president at Chicago-based Jones Lang LaSalle.
Former Ukrainian Village church on auction block
The Illinois Association of Seventh-Day Adventists is putting up for sale a church and adjacent school building in Ukrainian Village, hiring Sheldon Good & Co. Developers are likely bidders for the 21,420-square-foot site at 913-925 N. Hoyne Ave. The property has previously had been listed for $2.6 million, according to the New York-based auction house. The minimum bid is $1 million in the sealed-bid sale, which is being conducted until May 11. The structures, with a combined 17,542 square feet, have gone unused since the Central Hispanic Seventh-Day Adventist Church moved to 2840 W. Logan Blvd. several years ago, says Roger Driver, treasurer of the association, the parent group of more than 60 congregations statewide.
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