1300 N Highland Ave - Medical FOR SALE


Aurora, IL 60506- North River
$3,330,000 USD
312-269-0220
1300 N Highland Ave, Aurora, IL for Sale
$3,330,000 USD
Medical - FOR SALE
1/1
null | 8.5% Cap Rate

1300 N Highland Ave
Aurora, IL 60506
North River


OVERVIEW

Stabilized Investment Opportunity - 97% leased multi-tenant medical office building with a Weighted Average Lease Term of 8.42 years, anchored by Aurora Eye Clinic, who just executed a new 12-year lease and expanded their footprint by 85%, now occupying over half the building through 2038 Below Replacement Cost - The property is being offered at $160/SF, well below replacement cost, providing investors the opportunity to acquire a high-quality asset in the heart of Aurora’s medical district Prime Healthcare-Adjacent Location - The property benefits from an exceptional location directly across the street from Mercy Medical Center, a 1.3 million square foot medical campus anchored by a 292-bed hospital offering specialized services and 24/7 emergency care Strong Tenant Mix - The property is anchored by Aurora Eye Clinic (20+ years of occupancy) and features a complementary mix of other medical providers and services. The immediate proximity to a major healthcare provider drives consistent traffic and demand, supporting long-term tenancy Exceptional Demographics - Asset is located within an affluent suburb of Chicago with over 163,612 residents and an average household income of $118,600 within a 5-mile radius of the site Neighboring Medical Tenants - Surrounded by medical tenants such as; Mercy Medical Center, Advocate Outpatient Center, Rush Copley Medical Center, Mercy Behavioral Health, Genoa Healthcare, Avantara Aurora, and more

FOR SALE DETAILS

PRICE

$3,330,000 USD

PRICE/SF

$142 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Multiple

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Highland Medical Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

234

LAND DETAILS

LAND ACRES

3.5 AC

LAND SF

152,460 SF

ZONING

O, Aurora

APN/PARCEL ID

15-09-400-021

ASK ABOUT THIS PROPERTY

Chad FirselQuantum Real Estate Advisors, IncMore Info
312-269-0220

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Chad FirselQuantum Real Estate Advisors, IncMore Info
312-269-0220

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.