Jones Lang LaSalle Inc.
10/25/2024 | Press release | Distributed by Public on 10/25/2024 09:30
$63M financing secured for 704K SF industrial portfolio within Chicago, IL MSA
CHICAGO, Oct. 25, 2024 - JLL Capital Markets announced today it secured the $63 million financing for the Chicagoland Industrial Portfolio, consisting of five Class A industrial buildings in the Chicago, Illinois MSA.
JLL worked on behalf of the owner, Stream Realty Partners, to secure the fixed-rate, five-year loan.
The portfolio comprises the following properties: Asbury Drive, a 157,500-square-foot building located at 850 Asbury Drive in Buffalo Grove in the Lake County submarket; Rockwell Logistics Center, a 174,262-square-foot building located at 2545 W. 24th Street in Chicago in the City South submarket; Mokena Logistics I and II, 268,226 square feet across two buildings located at 8965 and 8905 W. 187th Street in Mokena in the Joliet submarket; and Halsted Pershing Business Center, a 104,008-square-foot building located at 815 W. Pershing Avenue in the Stockyards submarket.
These premier distribution and warehouse facilities total 703,996 square feet, featuring suites ranging from 25,100 to 174,262 square feet with an average clear height of 32 feet. The portfolio serves 10 diverse tenants spanning industries such as IT, electronics manufacturing, healthcare, construction, food distribution and government agencies.
Located in infill distribution sites or near key transportation networks within the Chicagoland MSA, the properties are situated in densely populated areas with extensive infrastructure and strong labor markets, enabling local and regional customer access.
The JLL Debt Advisory team was led by Senior Managing Director Colby Mueck, Senior Director Brian Walsh and Associate Tara Hagerty.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
Stream Realty Partners' Investment Management team leverages the extensive expertise of Stream's offices in core markets from coast to coast to make informed investment decisions based on real-time supply and demand fundamentals. The team, comprised of 35 professionals, actively manages five commingled funds, along with several joint ventures and wholly owned assets. In total, Stream oversees 55 investments encompassing 26.9 million square feet and approximately $3 billion in assets under management. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook.