Mold Remediation in Elgin, IL

CHICAGO, Nov. 12, 2024 – JLL Capital Markets announced today that it has arranged the sale of South Elgin Commons, a 94,508-square-foot destination retail center in South Elgin, Illinois.

JLL worked on behalf of the seller, PMAT Real Estate Investments—a nationally active buyer and seller of Suburban Open-Air Retail (SOAR) assets. The buyer was L2B Invest LLC.

South Elgin Commons, strategically located at 482-486 Randall Rd., sits approximately 40 miles from downtown Chicago along one of the busiest thoroughfares in the city's western area. As part of the premier shopping corridor of Chicago's Northwest suburbs, the center experiences high traffic volume with approximately 32,000 vehicles passing by daily. Its prime location offers convenient connectivity to the city and surrounding areas, benefiting from easy access to I-90 and I-290, as well as the Milwaukee District West Metra line.

South Elgin, consistently ranked among Money Magazine's Top 100 Best Places to Live in America, has become a thriving Chicago suburb known for its small-town charm and healthy economy. The area within a five-mile radius of South Elgin Commons boasts a population of over 156,000 with an average household income exceeding $146,000. South Elgin's desirability is further enhanced by its proximity to major employment centers and convenient transportation routes to downtown Chicago.

South Elgin Commons, spanning approximately 14.01 acres, serves as a premier retail and medical destination anchored by a brand-new Advocate Health Care outpatient care center, a recent TJ Maxx relocation store and Ross Dress for Less. Built in 2011 and partially renovated in 2021 and 2024, the plaza boasts a 100% occupancy rate. It features a diverse range of tenants, including the newly opened Advocate Health Care and a new construction Five Below, effectively addressing the community's retail and medical needs.

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Director Michael Nieder and Managing Director Keely Polczynski.

“The sale of South Elgin Commons underscores the continued demand for high-performing, high-credit retail centers in affluent suburban areas,” said Nieder. “With its strong mix of national retailers, best-in-class medical anchor and prime location in one of Chicago's growing submarkets, this property represents an excellent investment opportunity for L2B Invest LLC."

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.

For more news, videos and research resources, please visit JLL’s newsroom.

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About PMAT Real Estate Investments

PMAT Real Estate Investments is a real estate development and investment platform focused on value-add Suburban Open-Air Retail (SOAR) investments across the Southeast, Sunbelt, Southwest and Midwest regions with over 100 completed transactions consisting of more than 12.75 million square feet with an aggregate value in excess of $1.5 billion. PMAT's proven investment strategy is to acquire value-add Suburban Open-Air Retail (SOAR) assets anchored by grocery, discount, off-price and/or necessity tenants and to create long-term value through redevelopment, renovation and re-tenanting of these fundamentally strong investments.

About L2B Invest LLC

L2B Invest LLC, established in 2014, is a rapidly expanding commercial real estate investment firm with offices in Miami, Chicago and Providence. The company's unique approach involves identifying off-market properties with strong positioning, market potential and tenant strength, resulting in above-market returns. L2B Invest LLC leverages this creative strategy to help a select group of investors achieve exceptional results in commercial real estate investments.

Following a successful launch of the BRIDGES Committee for Black and Brown entrepreneurs and a first Black Expo earlier this year, the Elgin Area Chamber of Commerce group announces it will hold a virtual Black Business Expo from 5:30pm to 7:00pm on Friday, October 25, 2024.

Available through a ZOOM presentation, registration is required online at bit.ly/48fELBZ.

“We are pleased to once again have this opportunity for sharing valuable information and resources to help African American businesses get to the next level,” said Rise Jones, BRIDGES Committee co-chair and a member of the Chamber’s board of directors

This event will feature a special presentation, “Effective Business Planning” by Charmaine Marshall of Synergy Strategic Business Solutions. She will delve into the “why” for the need to develop a business plan. The presentation will unveil the pros and cons to developing (or not) a business plan. It offers an overview of what's in a business plan and how to begin to develop one or redesign it.

Marshall was raised in Elgin and is a graduate of Elgin High School and Judson University with a BA in Psychology and Sociology and a Masters in Nonprofit Management; with certifications in Program Development and Management, Humane Administration, Grant Writing, DEI in the Workplace.

Her company Synergy Strategic Business Solutions provides business development strategies and planning, management support, and grant writing services to name a few. She also works in the capacity of Assoc. Dir. for a Foundation, and reinvest in her local community via volunteering on an advisory board for a local organization and other community projects. She has extensive leadership and entrepreneur experience in both for-profit and nonprofit sectors. Connecting with and lifting up community to help fill gaps that result in a better quality of life for others is paramount for her.

Colleagues joining Jones as hosts of the evening are: BRIDGES co-chair Mary Nappier, Stanley Steemer; committee Members Jon Pierre Badie (Insperity, Inc.) and Shirley Bassett (African American Coalition of Kane County)’ plus Dr. Glenn Earl (Elgin Community College, Entrepreneurial Studies), and Nelicia Butler, MA, LCPC (Profound Roots Therapy Services).

Attendance is free and all are welcome who are interested in taking the next steps to learn, grow, and prosper.

For further information, contact Tony Lucenko at the Elgin Development Group at tlucenko@elgindevelopment.com or call 847-741-5663.