Whole Foods in affluent Chicago suburb trades hands for $17.3M

CHICAGO, Sept. 25, 2025 – JLL Capital Markets announced today that it has arranged the $17.3 million sale of a freestanding Whole Foods located at 300 South 2^nd St. in St. Charles, an affluent western suburb of Chicago.

JLL represented the sellers, Swanson Development Group & Fort Union. The buyer was an affiliate of Benenson Capital Partners.

The investment presented a rare opportunity to acquire a unique, free-standing Whole Foods asset in a core, vibrant location. The newly renovated property featured at-grade parking with 174 parking stalls, with Whole Foods demonstrating its deep conviction in the site by committing to a 20-year NN lease.

The Property was previously occupied by Blue Goose Market, an iconic grocer that operated at the site for nearly a century as downtown St. Charles' only grocery store. Blue Goose's strong sales performance prior to closure was instrumental in Whole Foods Market's decision to lease the space, positioning Whole Foods as the new exclusive downtown grocer in St. Charles.

Located 35 miles west of Chicago, St Charles is known for its exceptional demographics and affluent residential base. The area boasts average household incomes of $170,000 within a five-mile radius, with over 104,000 residents. The Property is strategically positioned in the heart of downtown, just off Illinois Rte-64 with direct accessibility to over 40,000 vehicles per day.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Director Alex Sharrin, Director Mohsin Mirza and Associate Torri Rosene.

“As one of the only new-to-market freestanding Whole Foods deals, the asset drew interest from 1031x purchasers, family offices, institutional capital and foreign investors,” said Sharrin. “At a sub $20M ticket price and 20 years of firm lease term, the Property was one of the most sought-after net lease acquisition targets in calendar year 2025.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

Swanson Development Group (SDG) is an opportunistic real estate investment firm founded in 2006 that specializes in acquiring and developing net lease properties ranging from $2M to $30M. The Company is led by Managing Partner Steven M. Swanson II, who previously served as Vice President at SRS Real Estate Partners.

Fort Union is a real-estate investment and development firm that has institutional and entrepreneurial expertise across all facets of commercial real estate ownership. Fort Union executes on opportunities across the United States using decades-long relationships that span the top 50 markets.

Fort Union was started by Matt Hendy who previously was with Regency Centers for 15 years and led its Midwestern Office in Chicago. Fort Union has a growing portfolio of assets and successful ventures across the United States. 

Benenson Capital Partners is the management arm of the Benenson group of companies, a leading privately held real estate investment, development and asset management organization founded in 1905 and controlled by the third generation of the Benenson family. The company maintains a diverse real estate portfolio encompassing more than 112retail, office, multi-family, hospitality and industrial assets throughout the United States and beyond.