Office

Hastings Center

1340 S Damen Ave, Chicago, IL, 60608-1169, US

Hastings Center_Property for Sale

Gallery

Hastings Center 2_Property for Sale

Asset description

Jones Lang LaSalle (Illinois), L.P. (“JLL”), has been exclusively retained to arrange the sale of the Hastings Healthcare Center (the “Property” or the “Offering”), a 153,000 RSF medical office building located in the Illinois Medical District, a world-class innovation district that provides access to top medical professionals. The Property represents a rare opportunity to acquire a recently renovated Class A office asset in an ecosystem known for a large concentration of healthcare institutions, biotech hubs, and technology incubators. 99% occupied with seven years of weighed average lease term (“WALT”), Hastings Healthcare Center provides investors durable cash flow and material embedded upside. Such upside opportunities include the adjacent parking lot that provides developmental potential and the desired Opportunity Zone designation. All inquiries regarding this transaction should be directed to JLL.

Attributes

Building area Net
153,065 sf
Occupancy
99.00%
Year built
1994

Investment highlights

  • ​​​​​​​Critically Located In The Illinois Medical District
  • Ideal Combination of Cash Flow Security with Material Embedded Upside
  • Adjacent Parking Lot Provides Development Potential
  • Highly Desired Office Space Among Illinois Medical District
  • Discount To Replacement Cost


Hastings Center 4_Property for Sale

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Last updated
Nov 2, 2022