Elgin Distribution Center
Industrial property in Elgin, IL · sponsored by JLL Exchange (JLLX)
Elgin Distribution Center was a DST sponsored by JLL Exchange (JLLX) that owned an industrial property in Elgin, IL (407,000 sq ft). Its last Form D was filed Nov 26, 2024.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed Nov 26, 2024.
Key facts
- Minimum investment
- $75,000From the Form D
- Offering size
- $50,706,705Equity offered, per the Form D
- Sold
- 92.2%Form D, Nov 26, 2024; the % is our arithmetic
- Investors reported
- Form D, Nov 26, 202476
- Selling commissions
- Form D Item 15; the % is our arithmetic$3,549,469 · 6.9% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
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Ask a 1031 specialist about this recordFree. About: Elgin Distribution Center. Top1031 is not a broker-dealer.Elgin Distribution Center · Elgin, IL · Photo: images.globest.com
What did Elgin Distribution Center own?
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)
How was it financed, and what did it cost to sell?
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 documents.
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $3,549,469 · 6.9% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 7 named in the Form D
Show the firms
- Concorde Investment Services, LLC · CRD 151604
- DAI Securities, LLC · CRD 36673
- Janney Montgomery Scott LLC · CRD 463
- LaSalle Investment Management Distributors, LLC · CRD 157625
- Merrill Lynch, Pierce, Fenner & Smith Incorporated · CRD 7691
- Morgan Stanley · CRD 149777
- RBC Capital Markets, LLC · CRD 31194
Individual representatives named in Item 12 are not listed.
- Date of first sale
- May 24, 2024
- Minimum investment
- $75,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind Elgin Distribution Center?
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
- Offerings on record
What does the SEC record show?
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.
- Legal Trust name
- JLLX Elgin Distribution Center, DST
- SEC CIK
- 2022675
- First Form D
- May 9, 2024
- Latest Form D
- Nov 26, 2024
- Filings on record
- 11
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $50,706,705 | $46,770,685+$211,658 | 76+1 | EDGAR | |
| Form D/A | $50,706,705 | $46,559,027+$936,447 | 75+4 | EDGAR | |
| Form D/A | $50,706,705 | $45,622,580+$11,664,359 | 71+15 | EDGAR | |
| Form D/A | $50,706,705 | $33,958,221+$6,741,820 | 56+16 | EDGAR | |
| Form D/A | $50,706,705 | $27,216,401+$7,407,199 | 40+9 | EDGAR | |
| Form D/A | $50,706,705 | $19,809,202+$6,224,406 | 31+10 | EDGAR | |
| Form D/A | $50,706,705 | $13,584,796+$5,159,551 | 21+3 | EDGAR | |
| Form D/A | $50,706,705 | $8,425,245+$1,722,684 | 18+8 | EDGAR | |
| Form D/A | $50,706,705 | $6,702,561+$4,695,869 | 10+6 | EDGAR | |
| Form D (new notice) | $50,706,705 | $2,006,692 | 4 | EDGAR | |
| Form D | $50,706,705 | $0 | EDGAR |
Show all 11 SEC Form D filings
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
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.
Common questions
- What happened to Elgin Distribution Center?
- Elgin Distribution Center is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Nov 26, 2024.
- 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 offering documents.
- 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.
In the news
Sources
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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 offering documents before investing.