Sale of open-air retail center in the Chicago MSA closes

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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