Office Medical
The Gallery Medical/Professional Building
1S443 Summit Ave, Oakbrook Terrace, IL 60181
Listing Price: $3,975,000
Investment Overview
Marcus & Millichap is pleased to present the opportunity to purchase The Gallery Medical/Professional Office Building, located in Oakbrook Terrace, Illinois. The property is 100 percent occupied by a mix of medical /professional services tenants, with over half of the GLA attributed to tenants either providing direct or related healthcare services. The property has demonstrated remarkable resilience throughout the downturn of the market, it is 100 percent occupied with seven of the twelve tenants signing NNN leases with rare three percent annual increases within the last two years with the remaining five legacy
tenants operating under modified gross leases with tax and CAM base stops.
The Gallery is located in Oakbrook Terrace, in DuPage County, and benefits from exceptional demographics and low real estate taxes. Over 90,000 people reside within a three-mile radius, and average household incomes exceed $134,000 annually. Positioned near IL-83 and I-88, access to the property is supported by abundant local infrastructure. The nearest intersection of Summit and Butterfield sees nearly 48,200 vehicles daily, and the property is located a mile away from Oakbrook Center, a super-regional outdoor mall with extensive shopping, dining, and other entertainment options.
The Gallery Medical/Professional Building
Investment Highlights
- Medical & Professional Building | 100 Percent Occupied | Professionally Maintained
- Seven of the Twelve Tenants Operate Under Strong NNN Leases with Rare 3% Annual Increases while the four remaining Legacy Tenants have CAM and Tax Base Stops
- Above Market Return | Cash on Cash Return of 9.07%
- Rents are Three Dollars Below Submarket Rents (CoStar), Leaving Plenty of Room for Rent Growth
- Strong Demographics | +90,000 People Within a Three-Mile Radius and Average Household Income of $134,000 Annually
Exclusively Listed By
Financing By
Office Medical
The Gallery Medical/Professional Building
Listing Price: $3,975,000
Investment Highlights
- Medical & Professional Building | 100 Percent Occupied | Professionally Maintained
- Seven of the Twelve Tenants Operate Under Strong NNN Leases with Rare 3% Annual Increases while the four remaining Legacy Tenants have CAM and Tax Base Stops
- Above Market Return | Cash on Cash Return of 9.07%
- Rents are Three Dollars Below Submarket Rents (CoStar), Leaving Plenty of Room for Rent Growth
- Strong Demographics | +90,000 People Within a Three-Mile Radius and Average Household Income of $134,000 Annually
Investment Overview
Marcus & Millichap is pleased to present the opportunity to purchase The Gallery Medical/Professional Office Building, located in Oakbrook Terrace, Illinois. The property is 100 percent occupied by a mix of medical /professional services tenants, with over half of the GLA attributed to tenants either providing direct or related healthcare services. The property has demonstrated remarkable resilience throughout the downturn of the market, it is 100 percent occupied with seven of the twelve tenants signing NNN leases with rare three percent annual increases within the last two years with the remaining five legacy tenants operating under modified gross leases with tax and CAM base stops. The Gallery is located in Oakbrook Terrace, in DuPage County, and benefits from exceptional demographics and low real estate taxes. Over 90,000 people reside within a three-mile radius, and average household incomes exceed $134,000 annually. Positioned near IL-83 and I-88, access to the property is supported by abundant local infrastructure. The nearest intersection of Summit and Butterfield sees nearly 48,200 vehicles daily, and the property is located a mile away from Oakbrook Center, a super-regional outdoor mall with extensive shopping, dining, and other entertainment options.
Exclusively Listed By
Financing By
