101 Waukegan Road, Lake Bluff, IL
Asset ClassHealthcare Facility
Carriage Point Medical Complex
Overview
Avison Young Healthcare Capital Markets is pleased to present the opportunity to acquire The Carriage Point Medical Complex, a 94,348 square foot, single-story medical office building in Lake Bluff, Illinois, one of Chicago’s most affluent North Shore communities. Positioned along the Waukegan Road (Route 43) retail corridor, the asset is anchored by Fresenius Medical Care (S&P BBB-/Moody’s Baa3) and sits just north of Northwestern Medicine's newly expanded Lake Forest Hospital. Northwestern Hospital is in the process of completing a brand new $400M expansion of their recently opened (2018) replacement campus which is expected to drive significant demand and patient flow into the surrounding area.
Investment Highlights
- Investment-Grade Anchor Tenancy — Fresenius Medical Care — the world’s leading dialysis provider and an investment-grade–rated global operator (S&P BBB-/Moody’s Baa3) — occupies roughly 52,144 SF (55% of the building) across three suites with maturities staggered from 2028 through 2036. The anchor recently extended its primary suite through 2033, underscoring a long-term commitment to the location.
- Diversified, Healthcare-Driven Rent Roll with a 5-Year WALT — A complementary roster of medical users — Illinois Bone & Joint Institute (the largest orthopedic group in Illinois), North Shore Endoscopy Center (an accredited ambulatory surgery center), North Shore Pediatric Therapy and two dental practices — generates intra-building referral synergy, staggered lease expirations, and resilient, stabilized cash flow.
- Demonstrated Leasing Momentum — Recent activity — a new North Shore Pediatric Therapy lease running through 2037, Forest North Dental’s 2023 commitment, and the Fresenius extension to 2033 — reflects sustained tenant demand and supports continued rent growth as in-place leases roll to market.
- Adjacent to an Expanding, Nationally Ranked Hospital — Northwestern Medicine Lake Forest Hospital sits immediately south; the nationally ranked facility expanded to 210 beds in February 2026 for over $400M on its 160-acre campus and supports 800-plus physicians across 73 specialties.
- Exceptional North Shore Demographics — Lake Bluff offers a median household income above $205,000, homeownership exceeding 91%, and 80%+ college attainment. The property is in a highly coveted access point shadow anchored by both Target and Heinen’s Grocers.
101 N Waukegan RdLake Bluff, IL 60044
Sales Team
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