October Edition: Who is ready for some good news?

• Our firm continues to see an increase in medical real estate activity, especially as hospital organizations trend toward a hub and spoke model. Check out our latest blog to see why this transition is happening and the added convenience for patients.

Reports indicate the occupancy and rent levels for downtown Chicago multi-family have not only returned to pre-pandemic, but exceeded them. International investors are taking note of the increased demand for Chicago, and have started seeking out purchase opportunities. Cap rates for Chicago are approximately 80 basis points higher than comparable properties on the east and west coasts. Read more here.

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
From our blog: "Medical Real Estate Prioritizes Hub and Spoke Strategy"

"Like most other real estate sectors, the Covid-19 pandemic changed medical real estate trends as well. Now more than ever patients prefer outpatient care in comparison to hospital settings. Furthermore, with less commuting, people are looking for options closer to home in all capacities (from daycare to doctor’s offices.)" 

What's next for Arlington Heights with Possible Bears Stadium

"Mayor Tom Hayes is touting what the relocation could mean for local property values and taxes...The three-term mayor said the prospect of a Bears stadium and a surrounding entertainment district at Arlington Park could be a boon for the village and individual homeowners. He's springing hopes on a full-scale redevelopment of the 326-acre property that would generate far more revenue for local coffers than the $1 million the track provided annually."

Featured Medical Properties
Streeterville Center at 233 E. Erie Street, Chicago

  • Space from 1,000 to 10,396 square feet
  • Located 1.5 blocks east of the Magnificent Mile in Chicago
  • Surrounded by Northwestern Memorial Hospital Campus
  • Indoor parking garage with valet parking
  • 24-hour doorman and conference room available for tenants
  • Mix of large and small medical practices at building
Medical Space at Town Square Wheaton

  • Space available up to 25,000 square feet
  • Brand your medical practice with premium retail inline or outlot space
  • Ideal endcap space available with high visibility from Naperville Road
  • Surrounded by retail and dining for easy access by patients and staff
  • Close proximity to Northwestern CDH, Edwards-Elmhurst, and other hospitals
630.444.0444 • www.odcre.com