JLL arranges $21.7M acquisition of Class A office in Chicago’s western suburbs

CHICAGO, Dec. 15, 2021 – JLL Capital Markets announced today that it has arranged the acquisition of Oakmont Point, a 92,553-square-foot, Class A office building in the western Chicago suburb of Westmont, Illinois.

JLL worked on behalf of the owner, Ryan Companies US Inc, through a joint venture partnership with Sidra Capital to acquire the property. Additionally, JLL secured a 10-year, fixed-rate loan with a multinational investment bank.

"We are delighted by our latest acquisition, which matched our investment criteria for long income generating assets besides offering excellent upside opportunity through an aggressive asset management strategy,” said Chairman of Sidra Capital, Hani Baothman.

Completed in 2019, Oakmont Point is a three-story building offering tenants a wide variety of amenities, including an indoor/outdoor café, tenant lounge, fitness center, conference center, outdoor green space and underground executive parking. The property is 91.2% leased to two institutional quality tenants, JLL (S&P Global: BBB+) and Ryan Companies.

Oakmont Point is located at 700 Oakmont Ln. less than 20 miles west of downtown Chicago. The property is just off of Route 83 near its intersection with Interstate 88 offering convenient access to Chicago O’Hare International Airport, Chicago Midway International Airport, and the surrounding Chicagoland suburbs. In addition, Oakmont Point is positioned in an amenity-rich submarket offering numerous dining options, retail centers, country clubs, golf courses, and hotels that corporate users can access within minutes.

The JLL Capital Markets team representing the seller was led by Senior Directors Sam DiFrancesca and Patrick Shields and Senior Managing Directors Jaime Fink, Jeffrey Bramson and Bruce Miller. Support was provided by Logan Roston.

JLL’s Capital Markets team leading the transaction included Director Lucas Borges, Managing Director Claudio Sgobba and Managing Director Christopher Carroll. Support was provided by Callie Meisel and Matt Maksymec.

“We’re pleased to be further building on our relationship with Sidra Capital and Ryan Companies. This is the first deal for Sidra under $100 million in the U.S. and given where cap rates have been trading for long income NNN product, we expect GCC sponsors to embark on aggregation plays whereby the investment volumes are going to be sub $30 million across the U.S. and Europe,” Sgobba said.

“Oakmont Point’s premier sponsorship of Sidra Capital and Ryan Companies attracted an exceptional amount of interest from the lending community that continues to pursue newer construction featuring top notch amenities, accessibility and institutional quality tenants,” Borges added.

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.

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