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Medical Condos For Sale • 4,034+ SF
| Name | Condo Use | Size | Price | Details |
|---|---|---|---|---|
| 8th Floor - Unit 810, 2102, 2103 | Office | 5,006 SF | $1,100,000 USD | |
DescriptionDon't miss this 100% leased investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 3 units that are diversified under 2 separate leases/tenants. This is an armchair investment with maintenance taken care of by the HOA and by the tenants. The portfolio is positioned to trade at a 7.27% cap rate at the list price. With predetermined rent escalations built into the leases the return will increase over time. The tenants are well established dentistry professionals with significant lease term remaining. One of the tenants has a lease in place until 2033 and the other is in place until 2028. Both leases feature options to extend. This is a premier location in the heart of Chicago's Loop. Close to everything including Michigan Avenue, restaurants, retail, Millenium Park and the lakefront. There is valet parking available for a fee. Call for a copy of the rent roll. Units 1114-1116 also available for 2,310,000 or purchase the whole portfolio for 3,410,000. |
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| 11st Floor - Unit 1114, 1116 | Office | 4,034 SF | $2,310,000 USD | |
Sale NotesDon't miss this investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 2 units that are diversified under 2 separate leases/tenants. This is an armchair investment with maintenance taken care of by the HOA and by the tenants. The portfolio is positioned to trade at a 7.34% cap rate at the list price. With predetermined rent escalations built into the leases the return will increase over time. The tenants are well established medical businesses with significant lease term remaining. One of the tenants is a credit tenant with a lease in place until 2034 and options to extend. This is a premier location in the heart of Chicago's Loop. Close to everything including Michigan Avenue, restaurants, retail, Millenium Park and the lakefront. There is valet parking available for a fee. Call for a copy of the rent roll. See MLS #11955198 for Units 810, 2102, 2103 or MLS #11954596 for Units 810, 2102, 2103, 1114 and 1116 combined. |
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| 22nd Floor - Unit 2202-2203 | Medical Office | 9,040 SF | $3,410,000 USD | |
DescriptionInvestmert opportunity with 5 medical office units under 4 separate leases. |
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Don't miss this portfolio investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 5 units that are diversified under 4 separate leases/tenants. This is an armchair investment with maintenance taken care of by the HOA and by the tenants. The portfolio is positioned to trade at a 6.73 cap rate at the list price. With predetermined rent escalations built into the leases the return will increase over time. The tenants are all well established medical businesses with significant lease term remaining. One significant tenant is a credit tenant with a lease in place until 2034 and options to extend. This is a premier location in the heart of Chicago's Loop. Close to everything including Michigan Avenue, restaurants, retail, Millenium Park and the lakefront. There is valet parking available for a fee. Call for a copy of the rent roll. Units 810, 2102 and 2103 can be purcahsed independently for 1,190,000. Units 1114 - 1116 can be purchase independently for for 2,310,000.
| Investment Opportunity - 6.73% Cap at List Price |
| Extensive Lease Term Remaining |
| Solid Medical Tenants |
| Arm Chair Investment with Minimal Owner Involvement |
| Cap Rate: | 6.91 % |
| Total Expenses: | $0 USD |
| Commuter Rail | Drive | Walk | Distance |
|---|---|---|---|
| Chicago Millennium Station (South Shore Line - Northern Indiana Commuter Transportation District (South Shore Line)) | 1 min | 4 min | 0.2 mi |
| Van Buren Station (South Shore Line - Northern Indiana Commuter Transportation District (South Shore Line)) | 2 min | 11 min | 0.5 mi |
| Transit/Subway | Drive | Walk | Distance |
| Randolph/Wabash Station (Downtown Loop) (Brown Line - Chicago Transit Authority "L" Trains (The "L"), Green Line - Chicago Transit Authority "L" Trains (The "L"), Orange Line - Chicago Transit Authority "L" Trains (The "L"), Pink Line - Chicago Transit Authority "L" Trains (The "L"), Purple Line - Chicago Transit Authority "L" Trains (The "L")) | 1 min | 2 min | 0.1 mi |
| Madison/Wabash Station (Downtown Loop) (Brown Line - Chicago Transit Authority "L" Trains (The "L"), Green Line - Chicago Transit Authority "L" Trains (The "L"), Orange Line - Chicago Transit Authority "L" Trains (The "L"), Pink Line - Chicago Transit Authority "L" Trains (The "L"), Purple Line - Chicago Transit Authority "L" Trains (The "L")) | 1 min | 2 min | 0.1 mi |
| Lake Station (Red Line - Chicago Transit Authority "L" Trains (The "L")) | 1 min | 4 min | 0.2 mi |
| Chicago Millennium Station (South Shore Line - Northern Indiana Commuter Transportation District (South Shore Line)) | 1 min | 4 min | 0.2 mi |
| Monroe Station (Red Line) (Red Line - Chicago Transit Authority "L" Trains (The "L")) | 1 min | 5 min | 0.3 mi |
| Airport | Drive | Walk | Distance |
| Chicago Midway International | 23 min | - | 11.6 mi |
| Chicago O'Hare International | 53 min | - | 21.3 mi |
| Parking Available: | Yes |
| Reserved: | No |
| Type: | Surface |
| Included in Rent: | Yes |
Charles Kirkwood
Coldwell Banker
Charles Kirkwood
Coldwell Banker
