Midway Medical_Property for Sale
Midway Medical_Property for Sale
7456 South State Road, Bedford Park, IL, 60638, US

Midway Medical

Asset Description

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.

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Attributes

Occupancy
82.1%
WAULT
8.6 years
Year built
2011
Building area net
5,416 m²
Parking spaces
236

Media

Investment Highlights

  • Located at the Epicenter of a Vibrant Healthcare Ecosystem


  • 2011 Built Class A Quality Real Estate


  • Rare Combination of Stable Contractual Income Paired with Lucrative Near-Term Value-Add Upside


  • Complimentary Tenant Mix Creates Synergies, Boosting Referral Patterns, & Collective Success


  • Anchor Surgery Center Provides Long Term Stability

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Midway Medical (0 Properties)

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Last updated
16 May 2024