FOR IMMEDIATE RELEASE
Healthcare Real Estate Remains a Great Risk-Adjusted Real Estate Investment
MedProperties Realty Advisors has acquired the two-story, Millennium Medical Center office building located in Chicago Ridge, a southwest Chicago suburb.
DALLAS, (July 11, 2025)—MedProperties Realty Advisors, a Dallas-based healthcare real estate investor, has acquired Millennium Medical Center, a 41,540-square-foot medical outpatient building at 10606 Southwest Highway in Chicago Ridge. Terms of the transaction were not disclosed.
The two-story building, with an open, atrium entryway, was purpose built in 2018 by a group of local physicians. This location provided easy access to the nearby hospitals. That original physicians group sold the property to MedProperties.
The lead tenant of the building is an affiliate of US Oncology, a national network of more than 600 cancer treatment centers. Affiliate centers have access to resources, best business practices, and the experience, infrastructure and support of McKesson, its parent company.
A complimentary tenant base that services patients suffering from cancer and related ailments makes up the balance of the tenancy at Millennium Medical Center. Many of those tenants have made long-term lease commitments creating an advantageous long-term weighted average lease term
“Medical/healthcare real estate continues to provide a great risk-adjusted investment opportunity relative to other asset classes,” said Darryl Freling, Managing Principal, MedProperties. “We will continue to pursue assets the quality and caliber of Millennium Medical Center given the quality of the physical structure and the long-term tenant base.”
Debt for the transaction was provided by Old National Bank.
About MedProperties Realty Advisors, LLC
MedProperties Realty Advisors LLC is a Dallas-based healthcare real estate private equity firm that invests on a direct and an indirect basis (through joint venture relationships) in the development of new, value-add, and stabilized healthcare real estate, including multitenant medical office buildings and single-tenant, specialty healthcare facilities throughout the U.S. MedProperties invests through its discretionary funds, and through stand-alone investment vehicles. MedProperties is dedicated solely to investments in healthcare real estate. For further information on MedProperties, please visit www.medpropertieslp.com.
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News Media Contact: Darryl E. Freling, Managing Principal, MedProperties Realty Advisors, 214.661.1000
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