Chicago’s North Shore flagship Tesla Sales, Service and Delivery Center sells

MIAMI, Sept. 16, 2024 – JLL Capital Markets announced today the sale of Chicago’s flagship Tesla Sales, Service and Delivery Center at 1200 Skokie Blvd in Northbrook, Illinois, a newly developed build-to-suit facility for Tesla.

JLL worked on behalf of the seller, a joint venture between Focus and Fort Union, in the sale to Kingsbarn Realty Capital.

The 47,997-square-foot property is Tesla's only custom built-to-suit sales, service and delivery center within the Chicagoland area. Designed to support several Tesla flagship retail showrooms throughout Chicago's northern suburbs, the Northbrook facility provides new vehicle delivery, vehicle preparation and maintenance services. The property also features a showroom and ancillary office spaces.

The property is strategically located in a dense and affluent, automotive-focused corridor as 1.7 million people are within a 30-minute drive of the site. The site is surrounded by upscale shopping and dining options, along with convenient access to downtown Chicago and O'Hare International Airport. Additionally, the site is situated just off the intersection of I-94 and Dundee Road, which sees over 140,000 vehicles per day and features visible signage along Skokie Blvd and the Interstate.

The JLL Investment Sales and Advisory team was led by Senior Managing Director, Corporate Capital Markets & Single Tenant Net Lease Platform leader Alex Sharrin and Josh Katlin.

"This transaction highlights the strong investor demand for high-quality, single-tenant net-leased assets in prime locations," said Sharrin. "The combination of Tesla's long-term commitment to the property and Northbrook's affluent demographics made this an attractive investment opportunity."

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.

Focus exists at the intersection of development and construction. For 30 years, Focus has worked diligently to exceed expectations and transform communities.

As a vertically integrated development and construction company, Focus is responsible for distinctive developments that value over $2.4 billion. These projects range from smaller, multifamily communities in historic districts to high-density, mixed-use redevelopments in thriving downtowns. Since 1993, Focus has delivered thousands of multifamily units, and millions of square feet of real estate but in addition, the company is committed to enhancing community. Through community partnerships, commitment to a sustainable future and corporate responsibility, Focus takes an active role in positively shaping the communities where it works.

For more information, visit workwithfocus.com.

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 market leading technology and decades-long relationships that span the top 50 markets.

Fort Union and its partners believe their experiences and successful strategies which demonstrate patience, integrity and the ability to change course are core competencies and meaningful in every transaction Fort Union evaluates. Our decades of experience in commercial real estate ownership have translated to successful small to large-scale projects, basis driven acquisitions and vigorous project management.

Kingsbarn Realty Capital is a real estate-centric investment house that provides institutional and accredited private investors access to an array of alternative investments. Kingsbarn offers investments in private equity, exchange traded funds, traditional investment funds, private capital, managed accounts and Delaware Statutory Trusts (DSTs). Additionally, Kingsbarn’s management team has wide-ranging experience developing, managing, operating, and sponsoring a diversified portfolio of stabilized, income-driven properties as well as ground-up construction, value-added offerings, opportunity zone investments, and entitlement projects. Kingsbarn has over $2 billion of assets under management and has acquired over 280 properties throughout the United States. The company currently has a development pipeline of over $2 billion consisting of multifamily, student housing, medical, industrial, retail, and hospitality. For further information, visit www.kingsbarn.com.