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Views: 187 DOM: 406 Updated: 10.15.24 Posted: 11.11.23 Status: Active

Summary

Price $8,060,000
Built/Renov 1999
Tenant Advocate Medical Group
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 25,000
Lease Start 01-01-2024
#Units 350
Price/SF $322.40
Expiration 02-28-2034
Tenant Type Medical/Health
NOI $463,450
R. Term 9.2
Ownership Fee Simple
Rent/SF $18.54
Increases 3.0%/1/yrs
Pop 5Mi 596,757
Lot/AC 1.74
Options 2/5yrs
AHHI 5Mi $76,659

Lease Highlights

  • Advocate Medical Group recently exercised their first 9+ year renewal option with 2 (5-year) options remaining
  • Lease features 3% rental increases annually and FMV increases at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease 
  • Investment grade tenant (S&P: AA) 

Location Description

The subject property is situated on an oversized 1.74-acre lot along W. 95th St. which sees 24,000+ vehicles passing by daily. It is also near the intersection at S. Western Ave. (31,400+ VPD) and just 3 miles from the I-94 arterial which boasts an additional 257,400 daily vehicles. The site benefits from being positioned within a dense retail corridor, surrounded by numerous national...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Advocate Medical Group is a leading provider of primary care, specialty services, imaging and outpatient services throughout the Chicagoland area. The company operates under Advocate Health, the...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 17,855 210,616 583,362
2023 Total Population : 18,373 216,018 596,757
2023 Employed Civilian Pop : 8,518 94,896 248,142
2023 Total Businesses : 698 4,196 11,324
2023 Average Household Income : $ 128,429 $ 89,956 $ 76,659
2023 Total Consumer Spending : $ 761 M $ 6380 M $ 14835 M
2023 Median Age : 43 41 38
2023 Total Households : 7,015 82,365 223,369
2023 Pop Age 25+: Bachelor's Degree : 3,512 27,199 60,502
2023 Average Home Value : $ 358,448 $ 261,726 $ 241,800
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
2022 1,650 0.11 mi
South Leavitt Street W 96th St 2018 1,100 0.15 mi
2022 1,450 0.18 mi
West 94th Street S Oakley Ave 2022 1,650 0.20 mi
West 96th Street S Damen Ave 2022 1,450 0.21 mi
S Western Ave W 94th St 2014 31,400 0.23 mi
South Leavitt Street W 93rd St 2018 400 0.23 mi
South Western Avenue W 90th St 2022 29,800 0.23 mi
2022 26,500 0.24 mi
US 12;US 20 2021 24,000 0.27 mi

Listing Broker

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