CHICAGO—Out-of-town investors continue to see great value in the region's market for healthcare real estate. American Healthcare Investors, a California-based healthcare REIT, has just bought a two-building, 70,000-square-foot medical office portfolio in suburban Naperville, one of Chicago's most competitive submarkets for medical office space.
Avison Young principals Erik Foster and Mike Wilson, who lead the firm's capital markets team in Chicago, represented the seller, Quadrangle Development Co. The transaction value was not disclosed.
The two class A buildings are within a 10-mile radius of five major hospital systems, and have a 90% occupancy rate with long-term tenants. The DuPage Medical Group, a multi-specialty group, anchors the three-story, 50,000-square-foot building located at 1020 E. Ogden Ave. And Adventist Health System, now called AMITA Health, anchors the second building, located at 1012 W. 95th St.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
