News release

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

JLL Capital Markets led the joint venture equity and acquisition financing for the recently redeveloped Oakmont Point, a highly amenitized office building with convenient access

December 15, 2021

Kristen Murphy

Investor PR, Capital Markets, Hotels, Property Management
+1 617 848 1572

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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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Sidra Capital

Sidra Capital was founded in 2009 and headquartered in Jeddah, Saudi Arabia – with offices in Riyadh, London, Dubai and Singapore. Licensed and regulated by the Saudi Arabian Capital Market Authority, Sidra Capital is a Shariah-compliant asset manager that focuses on alternative asset classes mainly global income generating real estate and private finance.

About Ryan Companies

Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, architect, capital investment consultant, builder and real estate manager with a focus on bringing lasting value to its customers and the communities in which it works. Ryan’s market depth includes retail, industrial, healthcare, multifamily housing and senior living. Ryan’s development and corporate build-to-suit work spans a wide range of product types including office, mixed-use, hospitality and mission critical facilities. Ryan has over 1,800 employees in 16 offices and has completed projects in nearly every state. For more information, visit ryancompanies.com.