Investment Overview

Marcus & Millichap is pleased to present the fee simple ownership of 1321 Tower Road, Schaumburg, Illinois. The subject property is a 9,000-rentable-square-foot medical office building fully occupied by two tenants. The anchor tenant is Chicago Liposuction, LLC has occupied 65 percent of the gross leasable area since they signed a ten-and-a-half-year lease in March of 2019. They have agreed to sign a new ten-year triple net lease at the close of escrow. The second Tenant is a dentist, Dr. Victor Sanz. Dr. Sanz has operated his practice out of the site since January of 2015 when he also signed a ten-and-a-half-year, triple net, lease. Chicago Liposuction LLC has two percent annual rent increases and Dr. Sanz has $0.50 per-square-foot annual increases. The weighted average lease term is currently 7.5 years. The Chicago Liposuction, LLC have become super-specialists in body sculpting and contouring through continuous hard work, training, and focus. They specialize in offering patients the most sophisticated, technologically advanced, and minimally invasive liposuction procedures available today. At this location, the Chicago Liposuction by Lift Body Center provides a multitude of different liposuction technologies in one place. Jewel Dental is an all-in-one family dental practice providing the strongest services to clients through the latest technologies. Dr. Sanz is considered one of the best dentists in Chicago. He holds national and international Doctor of Dental Surgery Degrees and is a member of the Academy of Implant Dentistry. Services offered include single and full mouth dental implants, digital X-rays and 3D CT scans, massage chair teeth whitening, porcelain veneers and crowns, dental laser therapy, cosmetic braces. This site is positioned excellently south of Interstate-90, one of the main thoroughfares from downtown Chicago to the north and west suburbs. Interstate-90 has daily traffic counts of 150,000. Additionally, just to the south of the property is Golf Road seeing 32,000 vehicles per day. This is a major retail region in Schaumburg with surrounding tenants including Costco, IKEA, Trader Joe’s, Michaels, HomeGoods, Nordstrom Rack, Woodfield Mall, and many more. The surrounding ten miles as a population of 900,000 people with the estimated daytime population totaling 1.04 million. This is an affluent population earning an average household income of $116,000.