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1600 N Randall RdElgin, IL 60124
Randall Medical Pavilion
Asset ClassHealthcare Facility
Square Feet95,436
Randall Medical Pavilion, Elgin, IL | ~95,000 RSF Campus Adjacent Medical Outpatient Building
overview of deal

Overview

Transwestern Healthcare Capital Markets (“Transwestern”) Transwestern Healthcare Capital Markets ("Transwestern") is pleased to offer for sale the fee simple interest in a 95,436 square foot outpatient medical building located at 1600 North Randall Road, Elgin, Illinois 60124 (the "Property" or "Randall Medical Pavilion"). The 6.09-acre site is adjacent to Advocate Sherman Hospital, a 255-bed acute care facility operated by Advocate Aurora Health (4th largest health system by revenue in the United States). The Property is anchored by leading regional providers including Derick Dermatology, Suburban Orthopaedics, and Northwestern Medicine.

 

  • Stable current cash flow with 5.1 years of WALT and future opportunity to capture growth
  • Fee simple, unencumbered use of rights adjacent to a dominant, high market share hospital
  • High-quality construction with modern features, covered drop off and ample surface parking offering large signage for anchor tenants
  • Strong demographic market in suburban Chicago where medical service demand across the trade area is projected to grow 16% over the next ten years
  • Existing tenancy has a weighted average tenure of 11.2 years
  • Rents are below replacement cost yields

Investment Highlights

  • 95,436 Square Foot, Class A Medical Outpatient Building Offering Lease Up Potential
  • Strong Clinical Users Including Regional Healthcare Providers and Hospital System Tenancy
  • Campus Adjacent Location with Strong Demographics
  • Lease Up Potential with Acquisition Basis Below Replacement Cost
1600 N Randall RdElgin, IL 60124
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