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Office Medical

RL Center for Cosmetic Surgery | Vernon Square Surgicenter

230 Center Dr, Vernon Hills, IL 60061

Listing Price: $5,297,134

Cap Rate
6.41%
Gross SF
16,350
Rentable SF
16,350
Price/Gross SF
$323.98
Occupancy
100.0%
Year Built
1999
Lot Size
1.90 acres

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.

Investment Highlights

  • Triple-Net Leases | Annual Rent Increases
  • ASC is a Certificate Of Need Tenant
  • Adjacent to a Large Regional Shopping Mall
  • Surrounded by Numerous Big Box & National Retailers | Target, Walmart, Kohl's, Best Buy, Whole Foods, Home Depot
  • Three Miles from Advocate Condell Medical Center (273-Bed Hospital)
  • 35 Miles North of Downtown Chicago | Midpoint Between Milwaukee and Chicago
  • Vernon Hills Benefits from a Metra's North Central Service Train Station and Pace Buses
  • Over 124,574 Full-Time Residents & Average Household Income of $177,486 within a Five-Mile Radius

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Office Medical

RL Center for Cosmetic Surgery | Vernon Square Surgicenter

Listing Price: $5,297,134

Cap Rate
6.41%
Gross SF
16,350
Rentable SF
16,350
Price/Gross SF
$323.98
Occupancy
100.0%
Year Built
1999
Lot Size
1.90 acres

Investment Highlights

  • Triple-Net Leases | Annual Rent Increases
  • ASC is a Certificate Of Need Tenant
  • Adjacent to a Large Regional Shopping Mall
  • Surrounded by Numerous Big Box & National Retailers | Target, Walmart, Kohl's, Best Buy, Whole Foods, Home Depot
  • Three Miles from Advocate Condell Medical Center (273-Bed Hospital)
  • 35 Miles North of Downtown Chicago | Midpoint Between Milwaukee and Chicago
  • Vernon Hills Benefits from a Metra's North Central Service Train Station and Pace Buses
  • Over 124,574 Full-Time Residents & Average Household Income of $177,486 within a Five-Mile Radius

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.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

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