6131 W Dempster St - Medical FOR SALE


Morton Grove, IL 60053- Near North Suburban Cook
$3,370,000 USD
312-269-0220
6131 W Dempster St, Morton Grove, IL for Sale
$3,370,000 USD
Medical - FOR SALE
1/3
null | 6.05% Cap Rate

6131 W Dempster St
Morton Grove, IL 60053
Near North Suburban Cook


HIGHLIGHTS

  • Single-tenant medical office building occupied by Advocate Health.
  • Recent capital improvements include roof, HVAC, and exterior upgrades.
  • Net lease structure supports operational simplicity.
  • Located along Dempster Street within an established suburban corridor.
  • Renewal option structure supports long-term occupancy potential.

OVERVIEW

?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

FOR SALE DETAILS

PRICE

$3,370,000 USD

PRICE/SF

$446 USD /SF

CAP RATE

6.05%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1996

SPRINKLERS

-

PARKING SPACES

38

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,216 SF

ZONING

Commercial w/ IMPRV 5-90

APN/PARCEL ID

10-20-105-009-0000,10-20-105-010-0000,10-20-105-011-0000,10-20-105-012-0000,10-20-105-013-0000,10-20-105-014-0000,10-20-105-015-0000

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.