JLL Capital Markets has arranged financing for Two Pierce Place, a 489,876-square-foot Class-A office tower in Itasca, Illinois.
JLL worked on behalf of the borrower, Sovereign Partners, LLC, to secure the three-year, fixed-rate loan through an insurance company with a deep national history dating back more than 150 years.
Two Pierce Place is positioned within the 300-acre Hamilton Lakes Business Park, which has access to the adjacent Interstate 290 in DuPage County. The property is surrounded by numerous restaurants and hotels and is convenient to O’Hare International Airport in the northwest Chicago market.
Built in 1991, Two Pierce Place offers 25 stories of office space with flexible 20,000-square-foot floorplates accommodating multi- or single-tenant users. On-site amenities include a deli, sundry shop, revitalized fitness center & tenant lounge, covered parking garage and access to the lakes and walking trails of Hamilton Lakes Business Park.
The JLL Capital Markets team representing the borrower was led by Managing Director Matthew Schoenfeldt.