Skokie Commons Bought For Nearly $50 Million

Skokie Commons was purchased for approximately $48.5 million by JLL Income Property Trust on May 19.

The acquisition of the shopping center, which is now anchored by Mariano’s and 97 percent leased, was financed at approximately 50 percent loan to value with a fixed interest rate loan at 3.31 percent for 10 years, according to the Skokie Review.

“This investment provides exposure to a major metropolitan city and builds upon our other recent grocery anchored acquisitions in California and Texas,” said Allan Swaringen, president and CEO of JLL Income Property Trust. “Skokie Commons is anchored by a strong, new age grocer in a demographic area ranking in the top five percent in population density.”

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