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JLL Arranges Sale of Illinois Retail Strip Center for $44M
JLL has secured the $44 million sale of Overlook at Oakbrook, a 2023-constructed unanchored strip center located across from Oakbrook Center, one of the Midwest’s most trafficked super-regional malls.
JLL represented the seller, MetLife Investment Management, and procured the buyer, a real estate fund advised by Crow Holdings Capital. JLL Capital Market’s Investment Sales and Advisory team was led by Managing Director Michael Nieder, Director Brian Page and Senior Managing Director Alex Sharrin. Overlook at Oakbrook is a 52,876-square-foot retail center located at 1715-1775 W. 22nd St. in Oak Brook.
The seven-building retail center was completed in 2023 and is 94% occupied with 13 tenants, including Lazy Dog Restaurant and Bar, Panera Bread, Veterinary Emergency Group and Guidepost Montessori. The asset benefits from its shadow anchoring to Costco. Overlook at Oakbrook sits across from Oakbrook Center, which generates more than $1 billion in annual sales and attracts 14 million visitors annually.
