LSC DEVELOPMENT is a fully integrated real estate operating company that focuses on the acquisition, development, and ownership of commercial and self storage properties.
History of LSC Development
1989
2001
2002
2005
2010
2012
2014
2015
2016
2017
2019
2020
- Refinanced a portfolio of Long Island, NY with $60 MM non-recourse 4-year loan with Ares Capital
- Secured 18 MM construction loan for NY project
- Sold IL property to Extra Space
2021
- Opened 3 NY properties for business
- Refinanced a portfolio of 5 NY properties for $167.3 MM
- Acquired 2 properties in IL for conversion
- Refinanced 8 Chicago properties for 94 MM
2022
- Opened 2 NY properties for business
- Secured $92 MM in construction loans for 5 projects
- Refinanced 2 NY properties for 58 MM
2023
- Acquired 2 properties: OKC and Bensenville, IL
- Opened 3 new properties for business
- Sold 2 NY properties in lease-up for $122 MM to Blumenfeld Group
2024
- Began construction on a property in Oklahoma City and another in Bensenville, IL.
- Opened 2 properties: Itasca, IL, and Hempstead, NY
- Office building adaptive reuse project in Lombard under contract
2025
- Purchased & began construction of the former office building in Lombard, IL
- Completed construction & opened property in Bensenville, IL
- Sold the Elgin Property for $17.4 MM
- Refinanced 3 Long Island properties with Invesco for $69.3 MM
- Refinanced Manhattan property with Extra Space for $37.5MM
2026
- Sold a portfolio of 3 IL properties to MiniMall for $76.5 MM
- Opened property in Lombard, IL
1989
2001
2002
2005
2010
2012
2014
2015
2016
2017
2019
2020
- Refinanced a portfolio of Long Island, NY with $60 MM non-recourse 4-year loan with Ares Capital
- Secured 18 MM construction loan for NY project
- Sold IL property to Extra Space
2021
- Opened 3 NY properties for business
- Refinanced a portfolio of 5 NY properties for $167.3 MM
- Acquired 2 properties in IL for conversion
- Refinanced 8 Chicago properties for 94 MM
2022
- Opened 2 NY properties for business
- Secured $92 MM in construction loans for 5 projects
- Refinanced 2 NY properties for 58 MM
2023
- Acquired 2 properties: OKC and Bensenville, IL
- Opened 3 new properties for business
- Sold 2 NY properties in lease-up for $122 MM to Blumenfeld Group
2024
- Began construction on a property in Oklahoma City and another in Bensenville, IL.
- Opened 2 properties: Itasca, IL, and Hempstead, NY
- Office building adaptive reuse project in Lombard under contract
2025
- Purchased & began construction of the former office building in Lombard, IL
- Completed construction & opened property in Bensenville, IL
- Sold the Elgin Property for $17.4 MM
- Refinanced 3 Long Island properties with Invesco for $69.3 MM
- Refinanced Manhattan property with Extra Space for $37.5MM
2026
- Sold a portfolio of 3 IL properties to MiniMall for $76.5 MM
- Opened property in Lombard, IL
- Refinanced a portfolio of Long Island, NY with $60 MM non-recourse 4-year loan with Ares Capital
- Secured 18 MM construction loan for NY project
- Sold IL property to Extra Space
- Opened 3 NY properties for business
- Refinanced a portfolio of 5 NY properties for $167.3 MM
- Acquired 2 properties in IL for conversion
- Refinanced 8 Chicago properties for 94 MM
- Opened 2 NY properties for business
- Secured $92 MM in construction loans for 5 projects
- Refinanced 2 NY properties for 58 MM
- Acquired 2 properties: OKC and Bensenville, IL
- Opened 3 new properties for business
- Sold 2 NY properties in lease-up for $122 MM to Blumenfeld Group
- Began construction on a property in Oklahoma City and another in Bensenville, IL.
- Opened 2 properties: Itasca, IL, and Hempstead, NY
- Office building adaptive reuse project in Lombard under contract
- Purchased & began construction of the former office building in Lombard, IL
- Completed construction & opened property in Bensenville, IL
- Sold the Elgin Property for $17.4 MM
- Refinanced 3 Long Island properties with Invesco for $69.3 MM
- Refinanced Manhattan property with Extra Space for $37.5MM
- Sold a portfolio of 3 IL properties to MiniMall for $76.5 MM
- Opened property in Lombard, IL
Meet Our Team
Christopher S. Barry
Christopher Barry is the Co-Founder and a Partner of LSC Development, LLC and is responsible for setting the strategic direction for LSC Development, he is actively involved in acquisitions, developments, dispositions and management. He founded Life Storage in 2002 together with Jean Jodoin. Previously, Chris was a Co-Founder and Partner at Facilitec, LLC, a professional restaurant service company focused on kitchen exhaust cleaning and grease containment solutions and invented the “Grease Guard”, which prevented grease buildup on restaurant roofing systems. He cofounded Facilitec with Jean Jodoin and two other partners and after 13 years sold the company to Ecolab, Inc. out of St. Paul Minnesota. Chris graduated from Eastern Illinois University with a Bachelor of Science in Business Administration with majors in Business, Management, Marketing and Related Support Services.
Jean L. Jodoin
Jean Jodoin is the Co-Founder and a Partner of LSC Development, LLC. Jean is responsible for setting the strategic direction for LSC Development he is actively involved in acquisitions, developments, dispositions and management. He founded Life Storage in 2002 together with Chris Barry. Previously, Jean was a Co-Founder and Partner at Facilitec, LLC, a professional restaurant service company focused on kitchen exhaust cleaning and grease containment solutions and invented the “Grease Guard”, which prevented grease buildup on restaurant roofing systems. He cofounded Facilitec with Chris Barry and two other partners and after 13 years sold the company to Ecolab, Inc. out of St. Paul Minnesota. Jean received a Bachelor of Science in Business Administration with majors in Marketing and Management from Eastern Illinois University.
John R. Nikolich
As the President and Chief Operating Officer of LSC Development, John leads day-to-day business operations, including acquisitions, developments, dispositions, capital markets transactions, and joint venture partner/banking relationships. He oversees multiple construction projects across various cities with municipalities and stakeholders to secure necessary entitlements and approvals. Before joining LSC Development, John was Executive Vice President at Banner Real Estate Group, where he established their multifamily development initiative and created and operated Banner Storage Group. John also founded Flint Creek Partners, a boutique real estate investment bank. He began his real estate career at LaSalle Investment Management and then joined the Real Estate Investment Banking group at First Union Securities. John received a Master of Business Administration degree in Finance & Marketing from the Booth School of Business at The University of Chicago and a Bachelor of Arts degree in Economics from Northwestern University.
Paul Bergin
Paul Bergin is the Executive Vice President of Construction for LSC Development/Cobalt Commercial Construction and responsible for all LSC’s/Cobalt Construction’s development efforts. He has an extensive development background having developed over 5 million square feet over his career. Prior to joining LSC, Paul was a Project Director Manager for Novak Construction, Inc. for 16 years. Paul was also a Director with Capitol Construction Corporation for 14 years. Paul received a Bachelor of Science in Architecture from Western/Interior Architecture from Harrington.
Mario Estevez
Mario Estevez is the Controller at LSC Development. Prior to joining LSC Development, Mario was the CFO/Controller at American Heritage Investment / Group Fox Inc. where he oversaw a 107% increase in revenue and 125% increase in the asset base during a 3-year period and successfully restructured debt and established credit terms to increase cash flows and improve NOI while also managing the company’s budget, preparing monthly financial statements and assisting with due diligence of retail/office tenants and acquisitions. Prior to American Heritage Investment / Group Fox Inc., Mario worked with a number of private equity firms as a Controller with their portfolio companies. He began his real estate career at Vornado Realty Trust as a member of their accounting team. Mario received a Bachelor of Science degree in Accounting from Northeastern Illinois University and is also a licensed CPA.
Brian Sheahan
Brian Sheahan is the Director of Asset Management at LSC Development. Prior to joining LSC, Brian was the Director of Commercial Real Estate for Group Fox, Inc., one of Chicago’s largest privately held landlords. During his 13+ year tenure at Group Fox, he was responsible for leasing and management of a 400,000 sq. ft. mixed use commercial portfolio throughout the Chicagoland area. Brian was responsible for commercial budgeting, operating expense reconciliation and acted as a project manager for all commercial-related construction projects. He holds a degree in business management from the University of Notre Dame and is a member of the Lurie Children’s Innovators program.
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