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

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SOLD
$16,300,000

Illinois

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Medical Office39,000 SF
Sold 04/04/2025
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SOLD

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

1508 Aurora Avenue

See Similar Deals
Medical Office39,000 SF
Sold 04/04/2025
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Medical Office
Price Per Square Foot:$417
Total Square Footage:39,000 SF
Transaction Type:Sale

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.

Players

Allan Swaringen
JLL
Allan Swaringen
13 deals$885.9M volume
BUYER

Details

SOLD
IMAGE: Allan Swaringen DATE: 04/04/2025 ADDRESS: 1508 Aurora Avenue MARKET: Naperville ASSET TYPE: Medical Office BUYER: Allan Swaringen - JLL Income Property Trust (@JLL) SALE PRICE: $16,300,000 SF: 39,000 ~ PPSF: $418 NOTE: JLL Income Property Trust acquired the fully leased 39,000 SF Naperville Medical Center for $16.3M, anchored by Advocate Outpatient Center on a 10-year lease. The deal aligns with JLL’s strategy to expand in high-income healthcare markets, with medical assets now making up 10% of its $6.6B portfolio.

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