This 25,000 square foot medical office building in Chicago, IL, offers a compelling investment opportunity. Currently 100% occupied by Advocate Medical Group, Illinois' largest health system, under a net lease with a remaining term of 9.3 years expiring February 28, 2034, and featuring 3% annual rent bumps. The property boasts a strong 5.75% cap rate and a substantial NOI of $463,500, with an asking price of $8,060,000 ($322.40/sq ft). Advocate is undertaking a $2.6 million renovation, including a new behavioral health suite, further securing long-term occupancy. The building enjoys a prime location on West 95th Street (24,000 ADT), near major roadways (including I-94 with 257,400 ADT), shopping centers (Evergreen Plaza, Evergreen Marketplace, Green Oak Shopping Center), and prominent medical facilities (OSF Healthcare Little Company of Mary Medical Center, Advocate Christ Medical Center, Advocate Children's Hospital - Oak Lawn). The surrounding area has a robust population (596,757 within a 5-mile radius) and high average household income ($128,429 within 1 mile). The lease includes two 5-year renewal options. This investment-grade tenant (rated 'AA' by Fitch and 'Aa3' by Moody's) and the strategic location make this a highly attractive opportunity. The 1.74-acre lot provides ample space. The property benefits from its proximity to several universities, including Saint Xavier University, Chicago State University, and Richard J. Daley College, further enhancing its long-term value. The location is less than 9 miles from Chicago Midway International Airport.
Highlights
10-Year Net Lease with Advocate Health, including 3% annual rent increases.
Tenant recently extended lease prior to expiration, demonstrating strong commitment.
$2.6M tenant-funded renovation underway, starting January 2025.
Advocate Health: Illinois' largest health system, with $28B annual revenue; investment-grade rating (AA/Aa3).
Prime location near I-94 (257,400 AADT), with high household income ($128,149 within 1 mile) and student population (8,020 within 5 miles).
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Contacts
Putnam Daily
Lindsey Snider
Scott Reid
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2210 95Th St, Chicago, Illinois, 60643
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2210 95Th St
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