Objectomschrijving
Jones Lang LaSalle Americas (Illinois), L.P. ("JLL") has been retained on an exclusive basis to offer qualified investors the opportunity to acquire Hawthorn Commons (the “Property” or “Offering”) – a recently constructed 48,942 square foot mixed use offering anchored by Northwestern Medicine (S&P: AA+) in the heart of one of Suburban Chicago’s most attractive submarkets, Vernon Hills.
The Property is currently 83% leased and features best-in-class medical anchor Northwestern Medicine and a diverse range of service, restaurant, and medical tenancy including T-Mobile and Uncle Julio’s Mexican Restaurant. Northwestern makes up 53% of in-place revenue on a long term lease through May 2031. A rare combination of contractual rent bumps and lease up potential create an opportunity to realize over 35% NOI growth in a 10 year period.
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Investeringskenmerken
Investment Grade Credit Medical Anchor - Northwestern Medicine:
- Fitch AA+ / Moody's Aa2 | S&P AA+
- Occupies 23,898 SF (49% of GLA) on a long-term lease through 2031
Substantial NOI Growth:
- Over 35% Projected NOI Growth from Contractual Increases and Lease Up Potential
Rare "Medtail" Investment Offering With Pandemic Resilient Tenant Base:
- The Offering represents an exciting and synergistic intersection of medical office, restaurant, and service uses
Dominant Regional Retail Corridor: The Vernon Hills Submarket is Anchored by Over 4M SF of Institutionally Owned Class A Retail Within a 1-Mile Radius
Strong Credit & National Tenany:
- 55% of in-place income leased to investment grade credit, which boasts a 7.5 year WALT
- 92% of in-place income leased to national tenancy
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