Advocate Health Care - Morton Grove, IL

6131 Dempster St Morton Grove , IL 60053

Advocate Health Care - Morton Grove, IL - healthcare for sale

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Overview



Single-tenant, well-maintained medical office proper for sale along the busy Dempster Street, less than one mile from I-94 and just 16 miles from Chicago. The property is currently leased to Advocate Health Care, a leading regional non-profit medical services operator with over 400 locations nationwide. Full roof replacement was done in 2016 and is covered in a transferable 10-year warranty. 

Investment highlights


  • Fee simple interest
  • Property includes an NN lease structure with 4.7 years of contractual term remaining, full CAM reimbursement
  • Annual rent increases of 3% with one 3-year option to extend
  • Minimal landlord responsibilities
  • Highly visible location on Dempster Street and less than 1 mile from I-94
General
Property type Healthcare
Property subtype Medical office
Tenure type Sale/Purchase
Property address 6131 Dempster St, Morton Grove, IL 60053-2953
Land in acres 0.51
Building size 7,551  ft2
Year built 1951
Financial
Price $1,600,000
Cap rate 8.75%
Current NOI $139,996.00
Lease

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