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Greenstone Partners is pleased to announce the successful sale of a single-tenant medical office building leased to Advocate Medical Group and located in Chicago’s Logan Square neighborhood. The property is positioned within one of the city’s most vibrant and rapidly expanding corridors, surrounded by a diverse mix of residential, retail, and healthcare uses that continue to attract strong investor demand. The asset sold for $6,300,000, or $458 per square foot, reflecting the premium associated with the investment-grade credit and long-term tenancy.
 The purchaser, an East Coast–based investment group, was drawn to the stability and durability of the income stream, with the tenant’s long-standing presence, new 10-year lease renewal, single-tenant net lease structure, and 3.2%–3.5% annual rental escalations collectively creating a secure and passive cash-flowing investment.
Greenstone Partners’ Managing Partners, Danny Spitz and Jason St. John, exclusively represented the seller in the transaction, while Cody Simmons, Ben Greazel, and Adam Levinson of Colliers’ Chicagoland Debt & Structured Finance Team arranged the acquisition financing.
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