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News release


Chicagoland Submarkets Prove Major Draw for Industrial Investors

JLL closes $91M sale of six-property Class A portfolio

CHICAGO, Oct. 15, 2014 – The Chicago suburbs are proving a major draw for both users and investors seeking a foothold in the nation’s second largest industrial market.   On behalf of Northern Builders, JLL’s Capital Market experts today announced the firm has closed the sale of a six-property, 1.4-million-square-foot portfolio of industrial properties located in four of the primary submarkets of Chicago.  Dallas-based Hillwood Investment Properties purchased the Class A portfolio for nearly $91 million.

International Director John Huguenard, Managing Director Trevor Ragsdale and Senior Vice President Sean Devaney led the JLL team on the transaction.

“Northern Builders did a great job developing a geographically diverse portfolio that offered investors a combination of strong income and tenancy,” said Huguenard.  “Hillwood will now be able to increase value through future lease-ups and organic growth through contractual lease obligations.”

The portfolio is 85 percent leased to 11 quality tenants with a weighted average lease term of nearly six years.  The properties are located in Joliet, Bolingbrook, Carol Stream, Hanover Park and Elgin.

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 a sale, financing, repositioning, advisory or recapitalization execution. In 2013 alone, JLL Capital Markets completed $99 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,300 specialists, operating all over the globe.

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About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $50.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit