Office Medical

Surgical Center

1186 Roosevelt Rd, Glen Ellyn, IL 60137

Listing Price: $1,100,000

Cap Rate
3.46%
Gross SF
3,805
Rentable SF
3,805
Price/Gross SF
$289.09
Year Built
1983
Lot Size
1.04 acres

Investment Overview

Marcus & Millichap is proud to present to market this free-standing, fully built-out suburban medical office property. The subject property is approximately 20 miles west of downtown Chicago on busy Roosevelt Road in Glen Ellyn, Illinois, DuPage County, seconds from the Interstate 355 tollway entrance and Interstates 88 and 294 interchanges for easy access by employees and patients.

Situated on a little over one acre, this 3,805-square foot, single-tenant medical office property is well suited for a number of uses including urgent care, surgical, plastic surgery, pain management, and general medical office. The current layout offers a reception and waiting room, two operating rooms, a recovery room, a lab, a clean room, a lead-lined x-ray room, five restrooms (one ADA compliant), two exam rooms, an administrative office, medical record storage, and oxygen storage.

The property is in excellent condition, gut renovated in 2009, a new roof installed in 2017, new HVAC and a repaved parking lot in 2018. Current ownership performs regular monthly maintenance inspections, repairs, and replacements, as necessary.

The property is currently leased on a month-to-month, one-day-per-week basis to a doctor performing minimally invasive surgical procedures. This tenant is currently paying $22.55 per square foot, full-service gross for this limited use, and would like to continue with the current arrangements, utilizing this one-of-six locations for his practice (since September 2019). With this, the tenant could be retained to share the property with an owner-user, another tenant, or for as long as a new investor may want to retain as a long-term full-monthly leased tenant. Market rent for medical/surgical-grade space in this area is conservatively $26 per square foot, triple-net, performing at a healthy nine percent proforma cap rate.

Investment Highlights

  • Excellent DuPage County Location on Busy Roosevelt Road Seconds from Interstate 355
  • Free-Standing, Single-Tenant Fully Built-Out Medical Office / Surgical Facility
  • Ideal for Urgent Care, Surgical and Medical Office Use
  • In-place Month-to-Month Surgical Tenant
  • Gut Renovation 2009, New Roof, Parking Lot and HVAC Done in 2017 and 2018
  • Ideal Owner-Occupied, Investment or Redevelopment Opportunity

Exclusively Listed By

Listing Price: $1,100,000

Cap Rate
3.46%
Gross SF
3,805
Rentable SF
3,805
Price/Gross SF
$289.09
Year Built
1983
Lot Size
1.04 acres

Investment Highlights

  • Excellent DuPage County Location on Busy Roosevelt Road Seconds from Interstate 355
  • Free-Standing, Single-Tenant Fully Built-Out Medical Office / Surgical Facility
  • Ideal for Urgent Care, Surgical and Medical Office Use
  • In-place Month-to-Month Surgical Tenant
  • Gut Renovation 2009, New Roof, Parking Lot and HVAC Done in 2017 and 2018
  • Ideal Owner-Occupied, Investment or Redevelopment Opportunity

Investment Overview

Marcus & Millichap is proud to present to market this free-standing, fully built-out suburban medical office property. The subject property is approximately 20 miles west of downtown Chicago on busy Roosevelt Road in Glen Ellyn, Illinois, DuPage County, seconds from the Interstate 355 tollway entrance and Interstates 88 and 294 interchanges for easy access by employees and patients.

Situated on a little over one acre, this 3,805-square foot, single-tenant medical office property is well suited for a number of uses including urgent care, surgical, plastic surgery, pain management, and general medical office. The current layout offers a reception and waiting room, two operating rooms, a recovery room, a lab, a clean room, a lead-lined x-ray room, five restrooms (one ADA compliant), two exam rooms, an administrative office, medical record storage, and oxygen storage.

The property is in excellent condition, gut renovated in 2009, a new roof installed in 2017, new HVAC and a repaved parking lot in 2018. Current ownership performs regular monthly maintenance inspections, repairs, and replacements, as necessary.

The property is currently leased on a month-to-month, one-day-per-week basis to a doctor performing minimally invasive surgical procedures. This tenant is currently paying $22.55 per square foot, full-service gross for this limited use, and would like to continue with the current arrangements, utilizing this one-of-six locations for his practice (since September 2019). With this, the tenant could be retained to share the property with an owner-user, another tenant, or for as long as a new investor may want to retain as a long-term full-monthly leased tenant. Market rent for medical/surgical-grade space in this area is conservatively $26 per square foot, triple-net, performing at a healthy nine percent proforma cap rate.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower