Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in iMed North (the “Property”/”Investment”), a multi-tenant Class-A medical office investment located at 387 Shuman Blvd. in affluent Naperville, Illinois, a western suburb of Chicago.

The 53% leased Investment presents a new investor with a value-add opportunity while benefiting from in-place cashflow and a full renovation over the last few years that modernized its infrastructure. Ownership recently invested over $11,000,000 into fresh capital improvements including the parking lot, lobby, hallways, restrooms, HVAC, electrical, plumbing, and roof. The location is highly visible from I-88, which experiences 135,000 vehicles per day, and offers signage opportunities for tenants. Naperville has experienced a boom in healthcare jobs and offers continued demand for medical office space. Currently 53% of the tenant base is medical with the immediate potential to lease-up the remaining 52,392 square feet of vacancy, moving the building to a pure medical investment over the mid to long-term.

Situated in DuPage County, the Property greatly benefits from commercial property taxes that are generally significantly lower and more predictable than neighboring Cook County’s. Naperville is highly regarded as a premier suburban market and was ranked #1 in a national ranking compiled by Niche: ‘Best Cities to Raise a Family in America’ and #4 as ‘The Best City to Live in America.’