An NAI Hiffman Capital Markets Group Investment Opportunity
VALUE-ADDINVESTMENT OPPORTUNITY
PROPERTY WEBSITE
2 EAST ROLLINS ROADROUND LAKE BEACH ILLINOIS 60073
24,795 SF, 2-STORY MULTI-TENANT MEDICAL OFFICE BUILDING
CAPITAL MARKETS
THE OPPORTUNITY
BUILDING AREA / CURRENT OCCUPANCY24,795 SF / 41% August 2019
PROPERTY TYPEMedical Office / Multi-Tenant
YEAR BUILT / RENOVATED1984 / Cap Ex 2012 thru 2016
DESIGN1 & 2 story rectangular buildings, perpendicularly attached, both with drive-up access
SITE SIZE5.08 Acres (221,285 SF)
PINS #06-16-100-029 / 06-17-200-052
SIGNAGEBuilding and monument
ZONINGC-3 General Business
PARKING112 Surface spaces (4.51 / 1,000 SF) parking on north, south and east building elevations
This is a non-strategic investment for Ventas Healthcare Realty, LLC, a leading real estate investment trust with approximately 1,200 seniors
housing, healthcare and research properties in the U.S., Canada and the United Kingdom. As their holdings have grown significantly, so has
the scale of their transactions and strategy, hence the non-strategic designation of the subject which was acquired as a part of a portfolio. This
particular portfolio was predominantly occupied by Advocate Condell. This location has not been a continued growth point for the network and
therefor falls out of strategy with a Ventas hold. With an occupancy rate of 41%, this value-add opportunity offers an investor the potential to
expand the tenant focus from medical to a combination of medical and traditional office drawing from a narrowed geographic area. Ventas has
reinvested in the building throughout their ownership period providing investors with a well-maintained building.
2 E ROLLINS
2 EAST ROLLINS ROADROUND LAKE BEACH ILLINOIS
INVESTMENT HIGHLIGHTS
Lake County LoCation Significant cost advantage over the city of Chicago and Cook County
Leasing FLexibiLity Opportunity to implement a more flexible leasing strategy outside that of MOBs within a R.E.I.T. structure
WeLL-Maintained Ongoing upgrades by current ownership
east RoLLins Road LoCation Primary commercial corridor of North Lake County, excellent visibility with 435’ of frontage and estimated 33K VPD
Convenient aRteRiaL aCCess S.R. 59 & 83 (north/south) and S.R. 120 & 132 (east/west)
stRong deMogRaphiCs - 3 MiLe Radius • Population: 74,131 • Households: 23,470• Ave HHI: $72,561• Daytime Employees: 14,686
neaRby MetRa station North Central Service, 1.4 miles to the northeast
exCess Land Option to increase current 4.5 / 1,000 parking ratio or additional development
E ROLLINS ROAD
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C O N TA C T I N F O R M AT I O N
ONE OAKBROOK TERRACE SUITE 400 OAKBROOK TERRACE IL 60181
HIFFMAN.COM
Jason WurtzExecutive Vice President
630 693 [email protected]
Art Burrows, CRESenior Vice President
630 693 0675 [email protected]
VALUE-ADDINVESTMENT OPPORTUNITY
24,795 SF, 2-STORY MULTI-TENANT MEDICAL OFFICE BUILDING
2 EAST ROLLINS ROADROUND LAKE BEACH ILLINOIS 60073
©2019 NAI Hif fman. All r ights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
PROPERTY WEBSITE
