The U.S. CBRE Healthcare Capital Markets Group acted as the exclusive advisor for the sale of the Midwest Orthopaedics at Rush Medical Building in Chicago, Illinois.
Sale Date: January 22, 2015
Sale Price: $63,200,000
Price PSF: $575
Building Size: 109,871 SF
Year Built: 2009
Occupancy: 100%
The CBRE U.S. Healthcare Capital Markets Group is pleased to announce the sale of the leasehold interest in the Midwest Orthopaedics at Rush Medical Building in Chicago, Illinois for $63,200,000 or $575 per square foot. Chris Bodnar and Lee Asher of the U.S. Healthcare Capital Markets Group teamed with Gary Fazzio in the CBRE Chicago office and Greg French with French Commerical Realty as the Seller’s exclusive advisor.
The Midwest Orthopaedics at Rush Medical Building is a new best-in-class Orthopaedic Center of Excellence medical office building strategically located on the Rush University Medical Center campus in Chicago, Illinois. The building was delivered in 2009 and resides within the Illinois Medical District (“IMD”), the largest concentration of hospitals and medical facilities in Illinois, including Rush University Medical Center, University of Illinois Hospital & Health Sciences System, John H. Stroger, Jr. Hospital of Cook County, Jesse Brown Veterans Affairs (VA) Medical Center, Illinois Department of Public Health, and the Midwest AIDS Training + Education Center. In 2010, the Property was the first health care project in Chicago to be awarded Gold LEED certification by the U.S. Green Building Council.
The Property consists of a 109,871-rentable square foot leasehold interest within a seven-story, 220,000 gross square foot medical office building. The Property is 100% leased to five tenants, including 81% leased by Midwest Orthopaedics at Rush and 17% leased by Rush University Medical Center (Standard & Poor’s ‘A’, Moody’s ‘A2’, and Fitch Ratings ‘A+’).
For more information on this sale, or if we can help with your healthcare real estate holdings, please contact us.
For more information on this transaction, please contact:
U.S. HEALTHCARE CAPITAL MARKETS GROUP
Lee Asher
Senior Vice President
+1 404 504 5965
lee.asher@cbre.com
Chris Bodnar
Senior Vice President
+1 303 628 1711
chris.bodnar@cbre.com
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