Finance N Illinois

JLL arranges nearly $30M in financing for Oak Brook office property

JLL arranges nearly 30M in financing for Oak Brook office property,ph1

JLL arranged a $29.8 million financing for 2001 York Road, a 184,525-square-foot office asset in Oak Brook, Illinois. JLL worked on behalf of the borrower, an affiliate of Pembroke IV, LLC, to secure the 36-month, floating-rate loan. The five-story office property has 33,000-square-foot average floor plates and is currently fully leased with Comcast occupying the majority of the building.

The JLL capital markets team representing the borrower was led by managing director Christopher Carroll. The deal was secured by HFF prior to being acquired by JLL on July 1, 2019.

The property is positioned within the Oak Brook submarket of eastern suburban Chicago. The affluent community is centrally located in DuPage County and is home to more than 10 million square feet of office space as well as the area’s primary economic driver, Oak Brook Center Mall, which is the largest open-air shopping center in the Midwest. Tenants have convenient access to both Interstate 88 and 294, connecting the property to Chicago’s CBD and greater Chicagoland.