Clover-Leaf center sells for $2.9 million

ROSELLE - JBS Commercial Real Estate said it has completed the sale of Clover-Leaf Executive Center, a multitenant office property in Roselle, for $2.9 million.

The seller was private local investor and developer and the buyer is Sovereign Wealth Fund, JBS said.

The property, located at 400 W. Lake St. and sitting on 4.6 acres, includes a three-story, 34,074-square-foot office building that was developed in 1980. Additionally, there is land available for an already approved second office building.

At the time of acquisition, the building was 86% leased with a diversified tenant mix, Downers Grove-based JBS said. The building caters to small space users, with 29 office spaces ranging in size from 500 to 2,100 square feet.

Clover-Leaf Executive Center is located in the southern portion of Roselle, immediately west of Medinah Country Club and in proximity to I-390 and I-355. Jason Shibata, a partner, and Michael Whetstone, a broker, both with JBS Commercial Real Estate, represented the seller in the transaction.

"As we look to emerging to a post-COVID world, there is a certain level of positivity in the marketplace, including office buildings like Clover Leaf that cater to small businesses," Shibata said.