CHICAGO, Jan. 31, 2022 -JLL Capital Markets announced today that it has arranged financing for Two Pierce Place, a 489,876-square-foot, iconic Class A office tower in Itasca, Illinois.

JLL worked on behalf of the borrower, Sovereign Partners, LLC, to secure the three-year, fixed-rate loan through an insurance company with a deep national history dating back more than 150 years.

Two Pierce Place is positioned within the 300-acre Hamilton Lakes Business Park, which has exceptional access to the adjacent Interstate 290 in DuPage County. The property is surrounded by numerous restaurants and hotels and is convenient to O'Hare International Airport in the northwest Chicago market.

Built in 1991 to exceptional standards befitting the world headquarters of prior tenant Gallagher Insurance, Two Pierce Place offers 25 stories of office space with flexible 20,000-square-foot floorplates accommodating multi- or single-tenant users. On-site amenities include a deli, sundry shop, revitalized fitness center & tenant lounge, covered parking garage and access to the lakes and walking trails of Hamilton Lakes Business Park.

The JLL Capital Markets team representing the borrower was led by Managing Director Matthew Schoenfeldt.

"This was a particularly exciting assignment; as a lifelong Chicagoan, few suburban office assets approach the pure quality and iconic stature of Two Pierce," Schoenfeldt noted. "Our lender embraced Sovereign's business plan of courting blue-chip tenants that demand exceptional value on exceptional space. The insurance company delivered flawlessly."

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.

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Jones Lang LaSalle Inc. published this content on 31 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2022 21:01:03 UTC.