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Ryan Plans $12M+ Medical Office Development

ROUND LAKE BEACH, IL-Ryan Cos. is developing Fox Chase Medical Campus which will have 50,000 sf of medical office space and at least 10,000 sf of retail space.

By Gina Kenny | Updated on February 26, 2008

ROUND LAKE BEACH, IL-Ryan Cos., headquartered in Minneapolis, is developing a medical office and retail project here on 10 acres at the intersection of Route 83 and Rollins Road. The estimated cost for the Fox Chase Medical Campus project is between $12 million and $15 million, says Jim McDonald, director of development for Ryan Cos.

The project will have a two-story building with 50,000 sf of medical office space and an inline retail building with 10,000 sf to 15,000 sf of retail and boutique medical uses, such as eyeglasses and physical therapists, McDonald says. There will additionally be two to three retail out-lots. The asking lease rate for the medical office space is $23.50 per sf, net. There are no leases signed yet but there are letters of intent for approximately 15,000 sf of medical office space, McDonald tells GlobeSt.com.

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