Overlook at Oakbrook strip center trades for $44M in Illinois

CHICAGO, March 3, 2026 –  JLL Capital Markets announced today that it has secured the $44 million sale of Overlook at Oakbrook, a 2023 constructed unanchored strip center strategically located across from Oakbrook Center, one of the Midwest's most trafficked super-regional malls.

JLL represented the seller, MetLife Investment Management, and procured the buyer, a real estate fund advised by Crow Holdings Capital.

Overlook at Oakbrook is a 52,876-square-foot retail center located at 1715-1775 W. 22nd St. in Oak Brook. The property sits at the intersection of 22nd Street and Route 83 with combined traffic counts of 86,900 vehicles per day and features 1,250 feet of frontage along 22nd Street. The property benefits from its proximity to Interstate 88, which carries 156,000 vehicles per day and provides visibility into the city center.

The seven-building retail center was completed in 2023 and is 94% occupied with 13 tenants including Lazy Dog Restaurant and Bar, Panera Bread, Veterinary Emergency Group and Guidepost Montessori. The property features 80% national tenancy with no single tenant representing more than 20% of income.

The asset benefits from its shadow anchoring to Costco, which draws 2.6 million retail consumers annually and ranks in the top 20% of Costco locations nationally. Overlook at Oakbrook sits across from Oakbrook Center, which generates more than $1 billion in annual sales and attracts 14 million visitors annually.

JLL Capital Market’s Investment Sales and Advisory team was led by Managing Director Michael Nieder, Director Brian Page and Senior Managing Director Alex Sharrin.

"Overlook at Oakbrook represents a rare opportunity to acquire a newly constructed retail asset in one of the Midwest's premier retail submarkets," Nieder said. "The property's location directly across from Oakbrook Center, combined with below-market rents from leases signed during the pandemic and strong demographics, created significant investor interest."

"The 2023 construction ensures all tenants are operating in their latest corporate prototypes, minimizing future capital expenditure requirements," added Page. "Market rents have outpaced development rents by over 25%, providing built-in rental growth potential for the new ownership."

The property serves a trade area with an average household income of $160,536 within five miles and a daytime population of 340,000 supported by 31.4 million square feet of office space.

JLL Capital Markets 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. JLL Capital Markets has more than 3,000 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 113,000 as of December 31, 2025. 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.

Crow Holdings Capital (CHC) is a real estate investment management company specializing in multifamily, industrial and specialty property types delivered through strategies that span the risk-return spectrum. Since 1998, CHC has created a diversified portfolio in partnership with leading global investors, generating attractive returns across multiple market cycles. Led by a highly experienced leadership team, CHC manages $20 billion in real estate assets and is a subsidiary of Crow Holdings, a privately owned real estate investment and development firm with over 75 years of history, $34 billion of assets under management, and a legacy rooted partnership, collaboration and alignment of interests. For more information, please visit www.crowholdings.com.