JLL arranges $195M sale of trophy logistics facility in Chicago

• JLL Capital Markets arranged the $195 million sale of 1237 W. Division St., the Midwest's first multi-story logistics facility

• A global e-commerce company acquired the 571,423-square-foot distribution facility from Logistics Property Company

• The property's urban infill location and specialized design offer features that are difficult to replicate in downtown Chicago

CHICAGO, Oct. 6, 2026 – JLL Capital Markets announced today that it arranged the $195 million sale of 1237 W. Division St., a 571,423-square-foot multi-story logistics facility in Chicago. The property, the first multi-story logistics facility developed in the Midwest, occupies a premier infill location with direct access to Interstate 90/94 and serves one of the nation's largest consumer and labor populations.

JLL represented the seller, Logistics Property Company, in the transaction. A global e-commerce company acquired the asset.

Situated near downtown Chicago, the state-of-the-art facility includes 571,423 square feet of warehouse space across two levels. Purpose-built for modern distribution operations, the property features 34-foot-plus clear heights, 56 loading docks, 135-foot truck court depths, a dedicated second-floor truck ramp and 10,000 amps of power. The facility was designed to maximize functionality in a land-constrained urban environment and includes separate circulation for trucks and passenger vehicles, along with covered truck court areas that support efficient logistics operations.

The property's parking capabilities further distinguish it from traditional urban logistics facilities. A 292,500-square-foot rooftop parking deck and adjacent five-level parking structure provide capacity for up to 1,590 automobiles or 763 vans, supporting large-scale last-mile distribution operations while maximizing land efficiency in a dense urban setting.

Located less than one mile from Interstate 90/94, the facility is approximately 2.5 miles from Chicago's central business district and provides convenient access to both O'Hare International Airport and Midway International Airport. More than 1 million residents live within a five-mile radius of the property, providing access to a substantial consumer base and workforce. Surrounding neighborhoods include Gold Coast, Old Town, Lincoln Park, Wicker Park and Bucktown. The property also benefits from a Class 6B tax abatement and Enterprise Zone incentives.

The JLL Capital Markets team was led by Managing Director Kurt Sarbaugh and Senior Managing Director and Industrial Group Co-Lead John Huguenard along with Senior Managing Director Sean Devaney, Managing Director Ed Halaburt, and Senior Director Ross Halaburt. Also playing a significant role in the project were Vice Chairman Dan McGillicuddy, Vice Chairman Leslie Lanne and Executive Vice President Sam Brashler from the JLL Brokerage team.

"1237 W. Division Street is incredibly unique and nearly impossible to replicate in Chicago today," said Sarbaugh.

"We've seen growing demand from occupiers looking to acquire facilities that play a critical role in their operations, particularly in locations where replacement opportunities are limited," added Huguenard. "For many users, ownership provides long-term control of strategically important real estate while supporting future operational growth."

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.