JLL, a leading real estate and investment firm, has successfully closed the sale of Hawthorne Commons in Vernon Hills, Illinois for $18.75 million. The 48,942-square-foot mixed-use property is classified as Class A and features a unique “medtail” concept with Northwestern Medicine as its anchor tenant.
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 of Elliott Bay Capital Trust: “This prime location in the bustling retail corridor of Vernon Hills combined with its top-notch anchor tenant made Hawthorne Commons an attractive investment opportunity.”
Built in 2016 on a 2.86-acre site at 850 N Milwaukee Ave., Hawthorne Commons is a two-story building that offers medical services along with retail shops and restaurants. Currently leased at an impressive rate of 88%, it houses eight tenants within Chicago’s affluent North Shore community.
