JLL Capital Markets arranged the sale and financing of Mid America Plaza, a two-building, trophy office complex in the suburbs of Chicago, Illinois.
JLL represented the seller, Equus Capital Partners, Ltd., in the sale of the property to Tryperion Holdings. JLL also worked on behalf of Tryperion Holdings to secure the acquisition loan with a correspondent insurance company.
Mid America Plaza consists of two, 10-story Class A office towers totaling 413,267 square feet. The property was recently renovated, which included a redesigned lobby inclusive of a brand-new energy-efficient glass curtain wall, updated atrium spaces with three Wi-Fi lounges, a conference center, outdoor terraces on the third, fifth and seventh floors of each tower and a brand-new fitness center with a golf simulator.
Additionally, a significant focus of the redevelopment was on base building improvements, which included elevator modernizations, HVAC upgrades, LED lighting and electric charging stations in the covered garage. Mid America Plaza is 87% leased to a highly diverse tenant roster, including Graycor Services, BCS Financial, Crowe and International Contractors.
Situated at the corner of Route 83 and 22nd St. in Oak Brook Terrace, the property is about 20 miles west of downtown Chicago in affluent DuPage County. The 5.32-acre site offers tenants a true live-work-play environment, located across the street from Oakbrook Center, one of the highest sales-per-square-foot, open-air malls in the country with more than 185 retail stores and restaurants. In addition, there are multiple luxury residential developments underway in the immediate area. Mid America Plaza has an ideal office location with convenient access to the entire metropolitan area via the Reagan Expressway (I-88) as well as easy access to the Chicago O’Hare International Airport.
JLL Capital Markets’ Investment Sales and Advisory team representing the seller was led by Senior Director Sam DiFrancesca, Senior Managing Directors Jaime Fink and Bruce Miller and Associate Misha Katashevich.
JLL’s Debt Advisory team was led by Managing Director Lucas Borges, Director Matt Maksymec and Analyst Ryan Planek.
