Capital Markets | Healthcare & Life Sciences
Just Closed
Health System Anchored Medical Office Building
CBRE
Transaction Highlights
Date Closed: 10/03/2023
Size: 62,267 RSF
Occupancy: 78%
1051 W Rand Road | Alrington Heights, IL
CBRE U.S. Healthcare and Life Sciences Capital Markets is pleased to announce the closing of 1051 W. Rand Road (the “Property”), located in Arlington Heights, IL. Chris Bodnar, Josiah Gunter, Zack Holderman, Jesse Greshin, Cole Reethof and Trent Jemmett partnered with partnered with Jon Springer and Gary Fazzio in the Chicago market to act as the seller’s exclusive advisors.
1051 W. Rand Road is a two-building, 62,267 rentable-square-foot outpatient care center located in Arlington Heights, IL within the #3 ranked Chicago MSA. The Property is strategically located 5 miles north of the 509-bed Northwest Community Hospital, which operates a Level II Trauma Center, Level III NICU, a pediatric emergency department, and a Primary Stroke Center, and is just 3 miles north of the proposed site of the Chicago Bears’ future stadium.
The Property was expanded in 2019 and renovated in 2022 representing a ±$12 million capital investment by ownership. The Property is 78% leased to three synergistic tenants including 69% leased to affiliates of the newly formed NorthShore – Edward-Elmhurst Health (Moody’s ‘Aa3’), which is now the third largest healthcare delivery system in Illinois, with nine hospitals and more than 6,000 physicians.
For more information, or if we can help with your healthcare real estate holdings, please contact us.
For more information, please contact:
Chris Bodnar
Vice Chairman and Managing Director
Investment Properties
+1 720 635 2653
Zack Holderman
Senior Vice President
Debt & Structured Finance
+1 858 337 9412
Cole Reethof
Director
Investment Properties
+1 404 504 7864
Josiah Gunter
Associate Director
Investment Properties
+1 404 504 7936
Jesse Greshin
Vice President
Debt & Structured Finance
+1 860 808 4810
Jon Springer
Vice Chairman
Chicago Advisory & Transaction Services
+1 312 935 1410
Gary Fazzio
Vice Chairman
Chicago Advisory & Transaction Services
+1 630 573 7090
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