CHICAGO—As reported last week in GlobeSt.com, the market for suburban medical office buildings is heating up, especially if the structures are associated with a major healthcare system. And the recent sale of a 35,364-square-foot Centegra Health medical office building in Crystal Lake, IL, is a good illustration of this phenomenon. MB Real Estate Healthcare bought it from a large physicians group, although t he transaction value was not disclosed. The class A building , located at 420 N. Rte. 31, is fully leased to Centegra Health . The tenant recently signed a long-term lease in the building. It was originally completed as a build-to-suit for McHenry County Orthopedics, which was recently acquired by Centegra Health and operates under Centegra Physician Care . Avison Young principals Erik Foster and Mike Wilson, who lead the firm's national capital markets team in Chicago, represented the seller. “In the US medical office market, and the Chicago market more specifically, there is an abundance of capital chasing a limited supply of high-quality medical office assets that are aligned with major hospital systems,” says Wilson. “As hospitals continue to shift services off campus into out - patient settings, this type of well-located building with high visibility becomes core to a system's strategy, and it is attractive to investors as well. The buyer competition for this transaction was extremely strong, with many foreign and domestic bids.” The building is located on the main artery through Crystal Lake and within a short distance from Centegra Northern Illinois Medical Center in McHenry and Centegra Hospital in Woodstock . T he Centegra healthcare system is also opening a new hospital in nearby Huntley in 2016.