Investment Overview

Marcus & Millichap is pleased to present for sale RL Center for Cosmetic Surgery & Vernon Square Surgicenter, a 16,350 square-foot, two-tenant medical office located in Vernon Hills, Illinois. The building consists of a 10,446 square-foot Cosmetic Surgery and Medspa suite and a 5,736 square-foot ASC, which has a Certificate Of Need. Both tenants are operating on triple-net leases with over five years of term remaining. There are two five-year renewal options and three percent annual rent increases in each of the leases. The property is strategically positioned within an office park near the intersection of E Townline Rd (28,400 vehicles per day) and N Milwaukee Ave (23,000 vehicles per day). The asset sits adjacent to a large regional shopping mall is surrounded by numerous big box and national retailers including Target, Walmart, Kohl’s, Best Buy, Whole Foods, Home Depot, and others. Advocate Condell Medical Center, a 273-bed hospital, is three miles north of the subject property. Vernon Hills, Michigan is a city located 35 miles north of Downtown Chicago in the northern part of the state and is a strategic midpoint between Chicago and Milwaukee. As of the 2020 census, the village population exceeded 26,850. Vernon Hills serves as a retail hub for the surrounding areas and benefits from having a train station connected to the Metra’s North Central Service, which provides daily rail service between Antioch, Illinois and Chicago. The village is also serviced by Pace buses.