1410 N. Arlington Heights Street. Picture courtesy of CommercialEdge
Hammes Companions has acquired a six-building medical workplace portfolio in Chicago. Twin Constructing Administration bought the property, encompassing greater than 120,000 sq. ft, unfold throughout northern suburbs of the town.
Based on Prepare dinner and Lake County information, the portfolio traded for $21 million and was topic to an acquisition mortgage of $15 million with a five-year maturity date, offered by Lake Forest Financial institution & Belief Co.
Principals Mike Wilson and Erik Foster, alongside Jim Kornick of Avison Younger and in partnership with Principal and Senior Vice President Darryl Silverman with Colliers, represented the vendor.
The Hammes funding portfolio within the health-care sector contains acquired and developed property, starting from medical workplace buildings to ambulatory care facilities. The corporate has a complete footprint of roughly 2.3 million sq. ft in medical workplace property, CommercialEdge knowledge exhibits.
Amongst its initiatives, final 12 months in October, Hammes Companions acquired a 4.2-acre parcel for the event of Buckeye Medical Plaza, a forty five,000-square-foot medical workplace mission in Buckeye, Ariz.
Medical workplace portfolio in Chicago suburbs
The services, a few of them constructed between 1966 and 1988, characteristic between 16,975 and 27,900 sq. ft, and embody Class B and C one- and two-story buildings. The portfolio was 94 % occupied on the time of the transaction, with long-term leases in place. The tenant roster contains North Shore College HealthSystem, North Arlington Pediatrics, Glazer Dermatology and different doctor teams.
Three buildings are positioned at 1410 – 1430 N. Arlington Heights Street, in Arlington Heights, two buildings at 600 and 650 W. Lake Prepare dinner Street in Buffalo Grove and one property at 830 W. Finish Courtroom in Vernon Hills. Different medical services within the surrounding suburban areas embody Advocate Good Sheperd Hospital, Advocate Lutheran Normal Hospital and Northwest Group Healthcare/Hospital.
