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News release

CHICAGO, IL

Investors Continue Pursuit of Creative Office Buildings

JLL closes $14.5 million sale of 217 North Jefferson in the West Loop


CHICAGO, March 31, 2015 – On behalf of Newport Capital Partners, JLL’s Capital Markets experts today announced the $14.5 million sale of 217 North Jefferson, a creative office building located in the West Loop submarket
 
International Director Bruce Miller and Senior Vice President Nooshin Felsenthal led the JLL team on the transaction.
 
The 58,044 square-foot office building is fully-leased and features a surface parking lot, high, lofted ceilings and open floorplans, catering to today’s creative and tech tenants. The property is located in Chicago’s growing West Loop submarket, near renowned dining options, several new commercial developments and the area’s public transit hubs and highways.
 
“With the technology and creative sectors continuing to demonstrate a voracious appetite for Chicago real estate and the growing importance of 217 North Jefferson’s location, only a few block from Google’s regional headquarters, we saw extremely high investor interest for this property,” Felsenthal said.
 
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 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.
 
For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.
 
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

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 $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 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 www.jll.com