Sale of open-air retail center in the Chicago MSA closes
JLL Capital Markets closed the sale of the 125,826-square-foot, multi-anchored Aurora Commons in Aurora, Illinois
CHICAGO, Dec. 5, 2023 – JLL Capital Markets announced today that it has closed the sale of Aurora Commons, a 125,826-square-foot, open-air retail center located within the Chicago MSA in Aurora, Illinois.
JLL represented the seller, IRC Retail Centers, and Sperry Equities acquired the asset.
Built in 1988, the 75-percent-occupied center is anchored by Ross Dress for Less and DD’s Discounts, and additional tenants include Five Below, Dollar Tree, T-Mobile, H&R Block, and more. The property also benefits from its high-performing shadow anchor, Cermak Fresh Market, which serves as one of two grocers within a three-mile radius.
Situated at 1272 N. Lake St., Aurora Commons is located at the intersection of Illinois Route 31 (Lake Street) and Indian Trail Road. The center is just 40 miles west of downtown Chicago and 12 miles west of downtown Naperville. The property benefits from nearby retail centers, including Chicago Premium Outlets, Lake Plaza and North Aurora Towne Center, as well as numerous healthcare centers, such as Ascension Mercy Hospital, Rush Copley Medical Center and Advocate Health Care. Within a three-mile radius is a population of 108,848, an average household income of $87,717 and an overall buying power of $3.4 billion.
The JLL Capital Markets Investment Sales and Advisory team was led by Michael Nieder, Keely Polczynski and Caity Tirakian.
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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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.