Office Medical

Northwestern Medical Office

2615 Three Oaks Rd, Cary, IL 60013

Listing Price: $1,249,000

Cap Rate
9.79%
Gross SF
13,966
Rentable SF
13,966
Price/Gross SF
$89.43
Year Built
1997
Lot Size
1.86 acres

Investment Overview

Marcus & Millichap is pleased to present the Silver Lakes Professional Building located at 2615 Three Oaks Road in Cary, Illinois. The 20,000-square foot multi-tenant office building was built in 1997. The property is conveniently situated near Route 14 (Northwest Highway) and the Cary Metra station. In addition, it is very close to restaurants, schools, industry and healthcare, many of which are very walk-able from the property.

Most of the property is demised into smaller office spaces, less than 400 square feet. The rents are charged on a monthly basis (with leases in place) verses a square foot basis. Therefore, the rents appear to be outside the market, but are not for the type of space provided. Smaller suites command a higher rent per square foot than traditional office suites. 77 percent of the square footage is leased and 89 percent of the income is from medical tenants.

Northwestern Medicine purchased Centegra Health System late last year making it the newest member of Northwestern Medicine. The partnership will provide patients with enhanced access to the highest level of care, and further combine Centegra's community-based care with Northwestern Medicine's integrated academic medicine.


Investment Highlights

  • Anchor Tenant - Northwestern Medicine - Centegra Health - 27.49 Percent of GLA
  • 89 Percent of the Income Comes from Medical Tenants
  • Significant Upside In Offering with Professional Marketing and Management
  • Affluent Area - Average Household Income Above $113,000
  • Conveniently Located Near Services, Shopping and Restaurants

Exclusively Listed By

Office Medical

Northwestern Medical Office

Listing Price: $1,249,000

Cap Rate
9.79%
Gross SF
13,966
Rentable SF
13,966
Price/Gross SF
$89.43
Year Built
1997
Lot Size
1.86 acres

Investment Highlights

  • Anchor Tenant - Northwestern Medicine - Centegra Health - 27.49 Percent of GLA
  • 89 Percent of the Income Comes from Medical Tenants
  • Significant Upside In Offering with Professional Marketing and Management
  • Affluent Area - Average Household Income Above $113,000
  • Conveniently Located Near Services, Shopping and Restaurants

Investment Overview

Marcus & Millichap is pleased to present the Silver Lakes Professional Building located at 2615 Three Oaks Road in Cary, Illinois. The 20,000-square foot multi-tenant office building was built in 1997. The property is conveniently situated near Route 14 (Northwest Highway) and the Cary Metra station. In addition, it is very close to restaurants, schools, industry and healthcare, many of which are very walk-able from the property.

Most of the property is demised into smaller office spaces, less than 400 square feet. The rents are charged on a monthly basis (with leases in place) verses a square foot basis. Therefore, the rents appear to be outside the market, but are not for the type of space provided. Smaller suites command a higher rent per square foot than traditional office suites. 77 percent of the square footage is leased and 89 percent of the income is from medical tenants.

Northwestern Medicine purchased Centegra Health System late last year making it the newest member of Northwestern Medicine. The partnership will provide patients with enhanced access to the highest level of care, and further combine Centegra's community-based care with Northwestern Medicine's integrated academic medicine.


Exclusively Listed By

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