FOR IMMEDIATE RELEASE
Chicago, IL (April 2023) – Echo Real Estate Capital, Inc. announces it has acquired a single-tenant medical office building leased to Advocate Health Care (www.advocatehealth.com).
The property is 7,550 square feet and is located at 6131 W. Dempster Street in Morton Grove, IL – a suburb of Chicago approximately 15 miles northwest of downtown.
The facility is staffed by a mix of primary care physicians and one cardiologist that have operated out of the building for over 20 years. The medical building is strategically located 3.5 miles east of Advocate’s Lutheran General Hospital, a 645-bed non-profit teaching hospital and the leading health care provider in Chicago’s North and Northwest suburbs.
“We are very excited about this acquisition, it is a solid building with a thriving practice, and it is in our backyard,” said Echo Real Estate Capital Principal Oliver Plotkin. “Strategically, we remain committed to investing in deals with strong historic tenancy that have the potential to generate attractive returns for our investors, even in uncertain times.” He went on to add, “Debt and equity markets are a challenge right now, but we have great capital partners that are committed to helping us continue to grow. Healthcare is resilient and we are still extremely active.”
Echo Real Estate Capital, Inc. (www.echorecap.com) is an acquisition and development firm based in Chicago, Illinois. Echo’s primary focus is healthcare, industrial and retail assets as well as nationwide programmatic build-to-suit development.
Contact:
Oliver Plotkin
Principal
Echo Real Estate Capital, LLC
200 W. Monroe
Suite 2050
Chicago, IL 60606
p. 312-533-2351
e. oplotkin@echorecap.com
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