JLL Capital Markets secures sale of Carol Stream Logistics Center and I-290 Distribution Center in Chicago’s DuPage County

CHICAGO, Sept. 18, 2024 –  JLL Capital Markets announced today the sale of two Class A industrial assets in Chicago's North DuPage County submarket: Carol Stream Logistics Center (185,796 square feet) and I-290 Distribution Center (150,010 square feet).

JLL represented the seller in both transactions. For the I-290 Distribution Center, JLL also secured acquisition financing from a life insurance company on behalf of the new owner. Meanwhile, Prologis acquired the Carol Stream Logistics Center.

Constructed in 2020, Carol Stream Logistics Center features 32-foot clear heights, 190-foot truck court depth (including trailer parking), full concrete parking lots, ESFR fire protection and ample trailer parking capacity. The building is fully leased to a single tenant with approximately five years of lease term remaining. Situated in the Carol Point Business Center, the property enjoys a prime corporate environment with excellent access to Chicago's major transportation infrastructure via I-355 while it’s infill location in DuPage County provides a lower tax liability.

“The acquisition of Carol Stream Logistics Center demonstrates our commitment to acquiring strategically located, modern logistics facilities in our target submarkets,” said Josh Bauer, VP and Investment Officer at Prologis. “We will continue to evaluate every significant deal in the market, while taking a disciplined approach in deploying our capital.”

Additionally, the I-290 Distribution Center, delivered in 2022, features modern specifications including 32-foot clear height, separate ingress/egress for truck and car traffic, ESFR fire suppression, LED motion sensors, a 130-foot truck court with a 60-foot concrete apron, 15 dock-high doors and 138 parking spaces. The property is 100% leased to a global packaging manufacturing company.

Positioned in the North DuPage County submarket, Elmhurst is one of Chicago's most interconnected suburbs, as I-290, I-294, US 20, IL 83 and IL 38 all pass within its city limits and is minutes from the south cargo entrance of the O'Hare International Airport. Futhermore, the property sits in a deep, blue-collar labor pool offering users an advantage for labor recruiting and retention.

The JLL Investment Sales and Advisory team was led by Managing Directors Kurt Sarbaugh and Ed Halaburt along with Senior Managing Directors Sean Devaney and John Huguenard. The financing for I-290 Distribution Center was secured by Senior Directors Brian Walsh and Lucas Borges as well as Managing Director Matt Stewart.

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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