Medical Office/Health Club

Office for Sale
Catylist Listing ID: 30165165
Property Subtypes: Medical, Office Building, Research & Development, Other
Building Size (RSF): 61,347 SF
Gross Building Area: See Agent
Sale Price: $6,500,000
Unit Price: $105.95 PSF
Property Use Type: Investment
Class of Space: Class A
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 10/16/2017

Overview / Comments

SVN Auction Works is conducting a sale of an approx. 61,347 sf building that is part medical center/therapeutic space and part health club space:

· Built in 2006
· 100% leased, 2 unit, approx. 61,347 sf building on 4.027 acres with 214 surface parking spaces
· Appraised for $8 million in 2009, when both tenants were fully performing
· Health club space is approx. 48,937 sf (79.77%)
· Health Club tenant is paying a reduced rent at this time by mutual agreement between Landlord and Tenant which is less than what is due per the terms of the lease
· Health club space features mostly open space for exercise areas, a pool, a basketball court and a minor amount of office space on the second floor
· Therapeutic space is approx. 12,410 sf (20.23%)
· Therapeutic space is leased through 9/30/2021; hospital tenant is paying on time and in full, per terms of the lease
· Therapeutic space features mostly office and conference room/classroom space and open rehabilitation areas

The health club portion of the building could also be used as a rehab center or sports facility. Alternatively, it could be reconfigured for use as self-storage. Adjacent land is also available for separate purchase.

Additional Details

Nearest MSA: Chicago-Naperville-Elgin
County: Kane
Zoning: ORI

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,885 60,205 184,074
Median Age: 41.03 35.07 33.04
Households: 723 20,051 57,879

Contact

Photograph of Listing Agent

Diana Peterson

SVN AuctionWorks
ICEx Member
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