?Single-tenant medical office building leased to investment-grade Advocate Health & Hospitals Corporation (S&P: AA) under a net-lease with more than 7 years of remaining term, 2.75% annual rental increases, and two 5-year renewal options providing long-term income stability
?The property has seen multiple capital improvements over the last 12 months such as; complete roof replacement (20-year transferable warranty), parking lot replacement (tenant paid), exterior tuckpointing, exterior window seal repair and replacement, upgraded landscaping, new HVAC, and exterior building paint
?Positioned in the affluent Chicago suburb of Morton Grove, the property benefits from a strong consumer base of more than 419,272 residents with an average household income of $147,200 within a five-mile radius of the site
?Advocate has operated at this location for over 20 years, demonstrating a strong and stable presence within the market. Advocate provides primary care, specialty care, imaging, outpatient services and community-based medical practices throughout the Chicagoland area and is one of the top 12 not-for-profit health systems in the country
?The property is strategically positioned along Dempster Street, a major retail thoroughfare in Morton Grove. The site benefits from access and excellent visibility with a traffic count over 31,119 vehicles per day
?Surrounded by tenants such as; Kohl's, Ross Dress for Less, Dollar Tree, LA Fitness, Chipotle, McDonald's, Raising Cane's, Dunkin', Pequod's Pizza, and more