Overview
Matthews™ Healthcare Division is pleased to exclusively offer the opportunity to acquire the fee simple interest in the Endeavor Health Cardiovascular Center, a single-tenant outpatient medical asset located at 712 Northwest Highway in Fox River Grove, Illinois. The 3,864-square-foot facility is 100% leased to Endeavor Health Clinical Operations, providing investors with durable healthcare tenancy and predictable income. Endeavor Health (Moody's Aa3 / S&P AA-) is Illinois' third-largest health system, operating nine hospitals and 300+ care sites across the Chicago MSA.
Constructed in 2004 and situated on 0.66 acres along Northwest Highway, the property benefits from strong visibility and accessibility within the northwest Chicago suburban corridor. Fox River Grove is part of the greater Chicagoland MSA, a densely populated and affluent suburban market with strong healthcare utilization and long-term demographic support.
The lease is structured as a NNN lease, with the tenant responsible for most property expenses and the landlord primarily responsible for the roof, structure, and common areas. Additionally, the lease includes two (5-year) renewal options, further enhancing the long-term stability of the investment. This offering presents investors the opportunity to acquire a well-located outpatient healthcare asset leased to a strong regional operator in one of the nation’s most established suburban healthcare markets.
Investment Highlights
- Investment-Grade Health System: Endeavor Health (S&P:AA-), formed through the merger of NorthShore University HealthSystem and Edward-Elmhurst Health, operates nine hospitals and generates over $5 billion in annual revenue across the Chicagoland region.
- Strategic Chicago MSA Location: Located in Fox River Grove, IL, the asset benefits from its position within the affluent northwest suburbs of Chicago, a dense and highly desirable healthcare market with strong barriers to entry.
- Hospital-Adjacent Trade Area: The property sits minutes from Advocate Good Shepherd Hospital (±176 beds), anchoring the trade area's healthcare ecosystem and reinforcing long-term medical demand along the Route 14 corridor.
- Jewel-Osco Shadow-Anchored Outparcel: As an outlot to a grocery-anchored center, the property benefits from daily-needs traffic, strong ingress/egress, and proven retail fundamentals at a signalized intersection.
- Stable Cash Flow: With 4.3 years of remaining lease term, the asset offers near-term income durability backed by an established outpatient operator.
- Annual Rent Growth: The lease features 3.00% annual rental escalations, creating consistent NOI growth and an effective hedge against inflation.
- Renewal Optionality: The lease includes two (5-year) renewal options, offering potential for extended occupancy and long-term income continuity.
- Medical Outpatient Use: As an outpatient clinical facility, the property benefits from healthcare’s continued migration away from hospital campuses toward convenient community-based care settings.
- Affluent Demographics: The surrounding northwest suburban Chicago trade area benefits from above-average household incomes, stable population density, and favorable healthcare demand drivers, supporting long-term tenant viability.
