Elgin Distribution Center
Industrial (Class A, two-building distribution facility) property in Elgin, IL — sponsored by JLL Exchange (JLLX)
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
JLLX Elgin Distribution Center, DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional interests in real estate — owning a Class A distribution property in Elgin, Illinois, northwest of Chicago. It was the industrial component of the sponsor's $100 million JLLX Diversified V program, which JLL Income Property Trust announced fully subscribed on November 18, 2024.4 It is closed to new investors.
Minimum investment
$75k
Offering size
$50.7M
How much has sold
92.0%
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
JLL Income Property Trust bought the Elgin Distribution Center in January 2022 for approximately $47 million, picking up newly built Class A warehouse space in the northwest Chicago suburbs.3 The buildings were completed in 2020.2 The site has immediate I-90 access and sits near O'Hare International Airport. The exact street address was not established in the sources reviewed.
- Reported location
- Elgin, IL
- Property size
- 407,000 sq ft (two-building industrial)
Who is the tenant, and what's the lease?
No tenant is named in the Trust's public filings or on the sponsor's property page. JLL Income Property Trust reports the buildings as 100 percent leased with a weighted average lease term of roughly 10 years.2 Tenant names and lease mechanics would sit in the private placement memorandum, the offering's disclosure document.
How did it end?
Still operating
No full-cycle, sale, or disposition announcement found; the 407,000 SF Elgin Distribution Center remains listed on the JLL Income Property Trust portfolio site and is not the property sold at 1717 Gifford Drive ($24.8M, June 2026).
JLLX Elgin Distribution Center, DST was the industrial component of JLLX Diversified V, DST ($100M, fully subscribed Nov 18, 2024). The underlying property is a two-building, 407,000-square-foot Class A industrial facility built in 2020, acquired by JLLIPT in January 2022 for approximately $47M, located in Elgin, IL with immediate I-90 access and proximity to O'Hare.
407,000 sq ft (two-building industrial)Supporting evidence
Counted on JLL Exchange (JLLX)’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
Whether the Trust carries mortgage debt or was structured all-cash is not disclosed in its Form D filings, and no property-level loan was established in the records reviewed. Debt terms, if any, would appear in the offering's private placement memorandum.
Who's behind it?
The Trust's 1031 exchange platform sits under JLL Income Property Trust, a daily-NAV REIT advised by LaSalle Investment Management. The November 26, 2024 Form D amendment identifies LaSalle Investment Management, Inc. as manager and signatory trustee, with Gregory A. Falk signing as executive vice president of the signatory trustee.1 A JLL Income Property Trust subsidiary listing dated March 14, 2025 reports this Trust as a wholly owned Delaware subsidiary, alongside a separate Elgin master tenant entity.5
- Sponsor
- JLL Exchange (JLLX)
- May convert to a REIT
- No
- Offerings from this sponsor
- 6 active / 20 total offerings from JLL Exchange (JLLX)
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust noticed its offering on Form D, the SEC's short notice for a private placement, then filed a run of amendments updating the running sales tally as subscriptions came in. It was sold under a private-placement exemption that bars general advertising, limiting participation to accredited investors — those meeting SEC income or net-worth tests — reached through existing relationships.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Legal Trust name
- JLLX Elgin Distribution Center, DST
- Filings on record
- 11
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
What happened to Elgin Distribution Center?
Top1031 lists Elgin Distribution Center in the Historical cohort because its latest filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for Elgin Distribution Center?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in JLLX Elgin Distribution Center, DST?
No. The Trust is closed to new investors. Its last Form D amendment was filed November 26, 2024, and the sponsor announced the broader $100 million JLLX Diversified V program fully subscribed on November 18, 2024. Anyone with a 45-day identification clock running would need to look at offerings currently raising instead.
How did this Trust relate to JLLX Diversified V, DST?
Elgin Distribution Center was the industrial component of the sponsor's $100 million JLLX Diversified V program, which also included a 192-unit apartment community in North Andover, Massachusetts and a second Class A industrial distribution facility. Each property was held through its own Delaware statutory trust, with this one holding the Elgin, Illinois asset.
What exactly does the Trust own?
A two-building Class A industrial distribution property in Elgin, Illinois, in the northwest Chicago suburbs, completed in 2020. JLL Income Property Trust acquired it in January 2022 for approximately $47 million. The property page maintained by the sponsor still presented the asset as of August 18, 2026. The specific street address was not established in the sources reviewed.
Who is the tenant?
No tenant is named in the Trust's SEC filings or on the sponsor's property page, so the operator or operators of the two buildings cannot be identified from public sources. The sponsor reports the buildings as 100 percent leased with a weighted average lease term of about 10 years. Tenant identity would be disclosed in the private placement memorandum.
Was this Trust set up for a 721/UPREIT exit?
The Top1031 record shows no 721/UPREIT conversion feature — that is, no provision for exchanging beneficial interests into REIT operating-partnership units. Separately, a JLL Income Property Trust subsidiary listing dated March 14, 2025 reports the Trust as a wholly owned Delaware subsidiary of the REIT, which is a filing disclosure rather than a stated exit plan.
Has anything happened to the property since the offering closed?
No entity-specific sale, disposition, foreclosure, or litigation event was established in the records reviewed. The sponsor's property page dated August 18, 2026 still presented Elgin Distribution Center as a 407,000-square-foot, two-building Elgin, Illinois property on its DST platform. No outcome has been reported for investors in this Trust.
Chapter 9JLL Income Property Trust Fully Subscribes $100 Million Diversified DSTPress release announcing JLLX Diversified V, DST fully subscribed; the $100 million program comprised a 192-unit apartment community in North Andover, MA and two Class A industrial distribution facilities including the Elgin Distribution Center. JLL Income Property Trust Acquires Suburban Chicago Distribution CenterAcquisition press release for Elgin Distribution Center, a two-building, 407,000-sf Class A industrial property in northwest suburban Chicago (Elgin, IL) for approximately $47 million. JLL Income Property Trust Picks Up New-Construction Elgin WarehousesConnect CRE coverage of JLL IPT's acquisition of Elgin Distribution Center, a Class A two-building industrial property totaling 407,000 sf in Elgin, IL.