March Edition: Who is ready for some good news?

For over a decade we've discussed how property owners seek medical users in times of distress. When retail vacancies are up, landlords look to hospital groups, dentists, and medical practices to fill spaces. Now it seems that Chicago office buildings are turning to medical use as well. Read more below, "John Hancock turns to medical users."

We've practiced medical commercial real estate for over twenty years, working with large hospital groups, multi-location medical practices, and medical REITS. Working with and for both tenants and developers. Throughout our tenure we have never seen the demand we are now seeing for medical real estate.

We hope this email finds you in good health. As always, please contact us regarding your commercial real estate needs.

-Kevin O'Donnell
Chicagoland Commercial Real Estate News
John Hancock Turns to Medical Users
Last month we discussed the Hyatt's Mag Mile conversion to medical tenants, and this month it seems that the Mag Mile will see even more medical use. According to Crain's, "In a move that charts a new path for the former John Hancock Center—now formally known as 875 North Michigan Avenue—Chicago-based real estate firm Hearn is marketing several floors of the skyscraper's 900,000 square feet of offices as medical office space, with a vision to grow that share to half or more of the building's office block in the years ahead."

Suburban Apartment Complex Seeks Large Gains

"A [Palatine] 612-unit property at the intersection of Lake Cook Road and Illinois Route 53. It’s one of the biggest multifamily properties in suburban Chicago to hit the market over the past year and is likely to fetch well over $100 million," according to Crain's.

Featured Medical Properties
Town Square Wheaton Medical Outlot

  • +/-18,000 SF outlot building available
  • Surrounded by retail and dining for easy access by patients and staff
  • In close proximity to Northwestern CDH, Edwards-Elmurst, and other hospitals
  • Active property management with top-of-the-line service
  • Generous free rent opportunities are available
Build to Suit in Sugar Grove

  • 5 speculative buildings (shell condition) for sale, lease, or build to suit
  • Space available starting at 1,000 SF
  • Join Northwestern Medicine, a financial advisor, and preschool in the same development and nearby Walgreens
  • Approximately 3.5 miles to I-88 full interchange
  • Located near dense housing and new Senior Living center
630.444.0444 •