Cook County Health - Chicago, IL
467 E 31st St, Chicago, IL, 60616, US
CA$17,681,000 | 2,481 sm
Jones Lang LaSalle (Illinois), L.P. (“JLL”) as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in Midway Medical (the “Property”, the “Opportunity”), a Class A multi-tenant medical outpatient facility completed in 2011 and designed by owner occupier Magna Surgical Center. Totaling 58,295 rentable square feet (“RSF”) Midway Medical is currently 82.1% leased with 8.6 years of weighted average remaining lease term (“WALT”) providing healthcare investors a rare combination of stable contractual income paired with lucrative near-term value-add upside. Conveniently located just four miles south of I-55, less than five miles east of I-294, and approximately three miles equidistant from both Advocate Christ Medical Center as well as Midway International Airport, Midway Medical sits at the epicenter of a vibrant healthcare node comprised of 93.8% medical outpatient facility occupancy, 1,175 acute care beds, and a dense urban infill population of 587,546 within a five-mile radius. Benefiting from strong market fundamentals as well as a diverse roster of complimentary healthcare tenants with average mark-to-market upside of 15.6% in years one through ten, Midway Medical provides healthcare investors lucrative value-add potential via both lease-up as well as near term mark-to-market opportunity.