JLL arranges $29.8M financing for Illinois office property
Positioned in one of Chicago’s most coveted office submarkets
CHICAGO, September 5, 2019 – JLL announced today that it has arranged a $29.8 million financing for 2001 York Road, a 184,525-square-foot office asset in Oak Brook, Illinois.
JLL worked on behalf of the borrower, an affiliate of Pembroke IV, LLC, to secure the 36-month, floating-rate loan.
2001 York Road is positioned within the Oak Brook submarket of eastern suburban Chicago. The affluent community is centrally located in DuPage County and is home to more than 10 million square feet of office space as well as the area’s primary economic driver, Oak Brook Center Mall, which is the largest open-air shopping center in the Midwest. Tenants have convenient access to both Interstate 88 and 294, connecting the property to Chicago’s CBD and greater Chicagoland. The five-story office property has 33,000-square-foot average floorplates and is currently fully leased with Comcast occupying the majority of the building.
The JLL Capital Markets team representing the borrower was led by Managing Director Christopher Carroll.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com