Downtown Naperville buildings sell for $10.5 million

A developer completed the purchase of several properties in downtown Naperville.

Prominent Naperville developer and investor Samuel L. Rubin, owner of Jefferson Naperville LLC, purchased the portfolio of buildings at 19 to 27 W. Jefferson Avenue for $10.5 million.

The portfolio boasts a retail lineup of Lululemon, Jimmy John's, Adagio Teas, Francesca's Collection and Cold Stone Creamery. Chicago commercial real estate company SVN | Chicago Commercial announced Thursday that it completed the sale of the 15,412-square-foot collection of four retail, office buildings.

SVN Senior Advisor Tim Franz was the sole broker representing the developer based in Santa Monica, California. He said Town Center Holdings Inc., a Texas-based holding company, owned the downtown property prior to the sale.

Franz said he is not sure if Rubin plans to make changes with the property, which was not on the market at the time of purchase.

He added that the downtown properties also offer the possibility of additional mixed-use development in the rear of the parcels. Rubin could not be reached for comment.

SVN Chicago Commercial is a national full-service commercial real estate advisory firm located in downtown Chicago. It is part of SVN International Corp., a full-service commercial real estate franchiser of the SVN brand.