Illinois system offering 10 buildings
LAKE FOREST HOSPITAL SELLING PORTFOLIO WITH 417,723 SQUARE FEET
By John Mugford
During a time of tight credit and somewhat bleak economic news, potential buyers are showing plenty of interest in a portfolio of 10 medical buildings being offered by Lake Forest Hospital in the northern suburbs of Chicago.
The portfolio’s fundamentals provide a likely reason why so why many firms are lining up as suitors. The 10 properties are composed of seven medical office buildings (MOBs), two health and fitness centers and one childcare center. They contain a total of 417,723 square feet of space and are 93 percent occupied, with the hospital using about 58 percent of the space.
The buildings are located primarily on the hospital’s main campus and at its Grayslake campus, which currently contains an outpatient satellite facility but which could see the development of an acute care hospital in the future.
Annual net operating income (NOI) for the properties is an e
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