WILL PROVIDERS DECIDE TO OWN THEIR OWN MOBs?
By Murray W. Wolf
In early 2009, Northwestern Memorial Hospital in Chicago issued a request for proposals (RFP) for the third-party development and ownership of a new medical office tower at its landlocked Streeterville campus on the city’s Near North Side.
Plans called for razing two older administrative buildings and replacing them with a new medical office building (MOB) of up to 750,000 square feet at a cost of about $250 million. The new MOB was to be developed on a hospital-owned site bordered by Erie and Ontario streets and Fairbanks Court.
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