$41.65M financing secured for premier grocery-anchored center in Chicago suburb

NEW YORK, Jan. 28, 2025 –  JLL Capital Markets announced today that it has secured a $41.65 million financing of Danada Square West, a 314,819-square-foot grocery-anchored shopping center in Wheaton, Illinois.

JLL represented the borrower, DLC, in arranging the five-year, fixed-rate loan.

Danada Square West, at 120 Danada Square W., enjoys a prime location in DuPage County, approximately 30 miles west of downtown Chicago, at the intersection of Butterfield and Naperville Rd. This strategic positioning offers excellent visibility and access, with convenient proximity to major highways, dense residential areas, top-rated schools, and major employers, making it a focal point for both local residents and commuters in the western Chicago suburbs.

Constructed in 1988, Danada Square West showcases its enduring appeal and commercial viability with an impressive 92.7% occupancy rate. The center is anchored by a top-performing Jewel-Osco grocery store, a loyal tenant for more than 37 years. The property also features a robust mix of national retailers, including TJ Maxx, HomeGoods, Burlington, The Paper Store, Ulta and Five Below. Strategically positioned within a prime retail corridor, Danada Square West capitalizes on the area's strong consumer traffic, which sees over eight million annual visits.

Wheaton, an affluent Chicago suburb and county seat of DuPage County, boasts a population of over 53,000 and an impressive average household income of $181,487 within a one-mile radius of Danada Square West. The center benefits from strong demographics in the wider area, with a population of 231,572 within a five-mile radius, and is consistently praised as a "Best Place to Live" for its walkability, excellent schools, family-friendly atmosphere and attractions like the over 500-acre Cantigny Park.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Scott Aiese, Managing Director Christopher Knight and Director Alex Staikos.

"The financing of Danada Square West demonstrates the continued strong appetite for well-positioned, grocery-anchored retail assets in affluent suburban markets," Aiese said. "The property's high-performing Jewel-Osco anchor, diverse national tenant mix and prime location in DuPage County attracted significant interest from lenders, resulting in favorable terms for our client."

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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DLC is a preeminent owner and operator of open-air shopping centers across the United States, with a proven track record of delivering value through innovative asset management strategies and strategic acquisitions. For more information, visit www.dlcmgmt.com.