Highland Medical Building For Sale

Office for Sale
Catylist Listing ID: 30009925
Property Subtypes: Medical
Building Size (RSF): 23,470 SF
Gross Land Area: 147,668 SF
Sale Price: $2,400,000
Unit Price: $102.26 PSF
Property Use Type: Investment
Building Name: 1300 N. Highland Medical Building
Class of Space: Class B
Sale Terms: Undisclosed
Cap Rate: 7.5%
Last Updated: 3/21/2018

Overview / Comments

Fully occupied multi-tenant medical office building for sale ½ mile from the I-88 full interchange at Route 31. Situated on 3+ acres this 23,470 SF one-story building features covered exterior walkways, common foyers, private employee entrances, restrooms and lounge. This attractive building is nicely landscaped and offers 234 parking spaces for employees and guests and excellent signage. Each of the 7 units are separately metered for gas and electric. Conveniently located just steps from Presence Mercy Hospital, a general medical and surgical hospital with 170 beds and 335 affiliated doctors, and surrounded by other medical buildings. Public transportation is also nearby including a Pace bus route along Highland Avenue and a Metra station one mile away. Aurora is the second largest city in Illinois with 5 interchanges, 6 school districts, 2 regional malls and several civic, social and educational attractions. Don’t miss your opportunity to own this stable asset offered at a 7.5% Cap. Offering Memorandum available upon receipt of signed CA.

Additional Details

Nearest MSA: Chicago-Naperville-Elgin
County: Kane
Taxing Authority: Aurora
Tax ID/APN: 15-09-400-021
Zoning: O
Property Located Between: Sullivan Road & W. Indian Trail
Property Visibility: Good
Highway Access: ½ mile from the I-88 full interchange at Route 31
Airports: Both Chicago airports are 35-45 miles away
Site Description: Rectangular, Level
Area Description: Steps from Presence Mercy Hospital and surrounded by other medical buildings
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1979
Roof Type: Flat
Construction/Siding: Concrete, Metal/Glass, Wood Frame
Exterior Description: Concrete block, wood, glass, nicely landscaped
Parking Ratio: 9 (per 1000 SF)
Parking Type: Surface
Parking Description: 234 parking spaces, parking ratio: 9/1000
Total Parking Spaces: 234
Heat Type: Natural Gas
Heat Source: Central
Interior Description: Glass, drywall, carpet, tile
Zoning Description: O
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress
Easements Description: Highland Avenue & Indian Trail

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,323 128,306 243,811
Median Age: 30.17 31.35 32.83
Households: 4,328 39,207 78,656
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