JLL, a leading real estate firm, recently finalized the sale of Hawthorne Commons for $18.75 million in Vernon Hills, Illinois. The Class A mixed-use property spans 48,942 square feet and is anchored by Northwestern Medicine.
The seller was represented by JLL’s Capital Markets Investment Sales and Advisory team led by Senior Managing Director Alex Sharrin, Managing Director Keely Polcyznski and Senior Director Michael Nieder. The joint venture between Centrum Realty and Hubbard Street Group sold the property to Elliott Bay Capital Trust in partnership with Pantheon.
According to Christian Whipple, CEO of Elliott Bay Capital Trust: “This prime location in the Vernon Hills retail corridor combined with its top-notch anchor tenant made this an attractive investment opportunity.”
Hawthorne Commons was built in 2016 and features two stories of medical offices as well as retail shops and restaurants. Currently at 88% occupancy rate with eight tenants on a spacious 2.86-acre lot at 850 N Milwaukee Ave., this North Shore community property offers convenient access to Chicago’s bustling downtown area.
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