Allan Swaringen Of JLL Income Property Trust Acquires Naperville Medical Center For $16.3M

The property asset involved in the transaction is a medical office located at 1508 Aurora Avenue in Naperville. It has a sale price of $16,300,000 and comprises 39,000 square feet, with a price per square foot of $418. The asset is fully leased and anchored by Advocate Outpatient Center, which is on a 10-year lease.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $16,300,000
• Square Footage: 39,000
• Address: 1508 Aurora Avenue
• Market: Naperville
• Price Per Square Foot: $418
• Buyer: Allan Swaringen - JLL Income Property Trust

JLL Income Property Trust acquired the medical office as part of its strategy to expand in high-income healthcare markets. Medical assets now represent 10% of JLL’s $6.6 billion portfolio, indicating a significant investment direction.