Skip to main content

Single-Tenant Office Medical

Physician's Immediate Care (WellNow)

6050 Caton Farm Rd, Joliet, IL 60586

Listing Price: $2,703,000

Cap Rate
6.50%
Tenant Name
Presence Physicians Immediate Care, LLC
Years Remaining On Lease
9.7
Gross SF
3,500
Guarantor
Corporate Guarantee
Rentable SF
3,500
Price/Gross SF
$772.29
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$50.19

Investment Overview

Marcus & Millichap is pleased to present for sale Physician's Immediate Care (WellNow) in Joliet, Illinois. Physicians Immediate Care, now part of WellNow Urgent Care, is a Midwest leader in urgent care and occupational health services with 55 locations. In 2022, Physicians Immediate Care was acquired by WellNow Urgent Care, one of the fastest-growing and top providers of urgent medical care, telehealth, and occupational medicine in the United States.

Joliet is situated in Kendall and Will counties in Illinois, roughly 40 miles southwest of Chicago. The county seat of Will County, Joliet is home to 150,362 residents as of the 2020 U.S. Census, making it the third-most populous city in Illinois. Known as the "Crossroads of Mid-America," several major firms have operations in the city and residential development continues to aid in the city's population growth.

Investment Highlights

  • 10 Years Remaining on Modified Triple-Net (NNN) Lease
  • 10 Percent Rental Increases Every Five Years with Multiple Renewal Options
  • Physicians Immediate Care was Acquired by WellNow Urgent Care in 2022, One of the Top Providers of Urgent Medical Care, Telehealth, and Occupational Medicine in the US
  • Property Has a Joint Guarantee between PIC and Ascension Health Alliance Which Carries a Moody's Credit Rating of Aa2+. Ascension Health Alliance is Among the Country's Largest Health Systems with 139 Hospitals and 440 Senior Living Facilities
  • Excellent Visibility Near the Intersection of Caton Farm Road and South Drauden Road (Over 36,950 Combined Cars per Day)
  • 161,917 Residents Within a Five Mile Radius - Growing Trade Area in the Chicago MSA
  • Households and Population Projected to Increase Over 2 Percent in the Surrounding Area by 2027
  • Average Household Income Exceeds $119,000 in the Immediate Area

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Financing By

Single-Tenant Office Medical

Physician's Immediate Care (WellNow)

Listing Price: $2,703,000

Cap Rate
6.50%
Tenant Name
Presence Physicians Immediate Care, LLC
Years Remaining On Lease
9.7
Gross SF
3,500
Guarantor
Corporate Guarantee
Rentable SF
3,500
Price/Gross SF
$772.29
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$50.19

Investment Highlights

  • 10 Years Remaining on Modified Triple-Net (NNN) Lease
  • 10 Percent Rental Increases Every Five Years with Multiple Renewal Options
  • Physicians Immediate Care was Acquired by WellNow Urgent Care in 2022, One of the Top Providers of Urgent Medical Care, Telehealth, and Occupational Medicine in the US
  • Property Has a Joint Guarantee between PIC and Ascension Health Alliance Which Carries a Moody's Credit Rating of Aa2+. Ascension Health Alliance is Among the Country's Largest Health Systems with 139 Hospitals and 440 Senior Living Facilities
  • Excellent Visibility Near the Intersection of Caton Farm Road and South Drauden Road (Over 36,950 Combined Cars per Day)
  • 161,917 Residents Within a Five Mile Radius - Growing Trade Area in the Chicago MSA
  • Households and Population Projected to Increase Over 2 Percent in the Surrounding Area by 2027
  • Average Household Income Exceeds $119,000 in the Immediate Area

Investment Overview

Marcus & Millichap is pleased to present for sale Physician's Immediate Care (WellNow) in Joliet, Illinois. Physicians Immediate Care, now part of WellNow Urgent Care, is a Midwest leader in urgent care and occupational health services with 55 locations. In 2022, Physicians Immediate Care was acquired by WellNow Urgent Care, one of the fastest-growing and top providers of urgent medical care, telehealth, and occupational medicine in the United States. Joliet is situated in Kendall and Will counties in Illinois, roughly 40 miles southwest of Chicago. The county seat of Will County, Joliet is home to 150,362 residents as of the 2020 U.S. Census, making it the third-most populous city in Illinois. Known as the "Crossroads of Mid-America," several major firms have operations in the city and residential development continues to aid in the city's population growth.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

Financing By

MM Texture Background
MM Textured Background Lower