Midwest Medical Office Portfolio
Five Buildings | Chicago Metro Area
Executive summary Confidentiality agreement
The Offering
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the fee simple interest in five medical office buildings (the “Properties” or the “Portfolio”) totaling 159,657 square feet and concentrated within the top five metropolitan area of Chicago. The Properties serve as strategic outpatient medical facilities with 25 percent health system occupancy from a combination of Chicago’s leading health systems including Duly Health and Care, Rush, AMITA, and Advocate Health Care. The assets are ideally positioned in demographically desirable submarkets and offer attractive uses including ambulatory surgery, urology, neurology, OB/GYN, pediatrics, internal medicine, pain management, and dialysis.
The Portfolio is leased under triple net lease structures with average annual escalations of approximately 2.50 percent,
offering investors stable and growing cash flow with the opportunity for additional upside through lease up.
The Seller will entertain offers for the entire portfolio or individual properties.
Investment Highlights
• Quality outpatient medical office portfolio consisting of five properties totaling approximately 160,000 square feet
• Immediate scale with $2.9M of year one net operating income
• 88 percent occupancy and 4.0 years of weighted average remaining term
• Opportunity for additional value creation through lease up of existing portfolio vacancy
• Triple net leases with average annual escalations of approximately 2.50%
• Diverse mix of attractive medical specialties including ambulatory surgery, urology, neurology, OB/GYN, pediatrics, internal medicine, pain management, laboratory services, physical therapy, and dialysis
• Balanced rollover schedule with a history of in-place tenant renewals
• Above average building size of 32,000 square feet
• Attractive geographic concentration in the Top 5 MSA of Chicago
• Strategically located assets with an average distance of just over four miles from local hospital campuses
• Strong demographic locations in high income markets with growing demand for outpatient healthcare services
• 100% fee simple
Investment Advisory Contacts
Brian Bacharach
Senior Managing Director
+1 214 438 6462
brian.bacharach@jll.com
Brad Brown
Analyst
+1 214 438 6424
brad.brown@jll.com
Mindy Berman
Senior Managing Director
+1 617 316 6539
mindy.berman@jll.com
Vasili Davos
Director
+1 214 438 6151
vasili.davos@jll.com
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