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Silver Cross Hospital Renews Lease For 87461 SF Medical Office In New Lenox With PGIM

Property Image
LEASED
Perry Higa
Cathy Marcus
Steve Brooks
+ 1

Illinois

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Medical Office87,461 SF
Leased 07/16/2025
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LEASED

Silver Cross Hospital Renews Lease For 87461 SF Medical Office In New Lenox With PGIM

1890 Silver Cross Boulevard

See Similar Deals
Medical Office87,461 SF
Leased 07/16/2025
Perry Higa
Cathy Marcus
Steve Brooks
+ 1
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:Medical Office
Price Per Square Foot:$0
Total Square Footage:87,461 SF
Transaction Type:Lease

The asset involved in this transaction is a Class A medical office located at 1890 Silver Cross Boulevard in New Lenox, IL. The total square footage of the facility is 87,461 square feet. The market for this property is New Lenox.

Summary of transaction details:

The lease renewal was executed nearly two years ahead of schedule. As part of this agreement, Silver Cross Hospital secured a reduction in net rental rates along with an improvement allowance for the facility, which also accommodates other tenants, including Shirley Ryan AbilityLab.

Players

Perry Higa
NAI Global
Perry Higa
3 deals(630) 693-0684
BROKER
Steve Brooks
Steve Brooks
1 deal(617) 908-8499
BROKER
KM
Katie McReynolds
1 deal
BROKER
NAI Hiffman
NAI Hiffman
BROKERAGE
NG
NexCore Group
BROKERAGE
PGIM
PGIM
LANDLORD

Details

LEASED
IMAGE: Michael Mutterer, Cathy Marcus, Perry Higa, Katie McReynolds & Steve Brooks DATE: 07/16/2025 ADDRESS: 1890 Silver Cross Boulevard MARKET: New Lenox ASSET TYPE: Medical Office ~ SF: 87,461 LANDLORD: Cathy Marcus - PGIM (@PGIM) TENANT: Michael Mutterer - Silver Cross Hospital LANDLORD'S REP: Steve Brooks & Katie McReynolds - NexCore Group TENANT'S REP: Perry Higa - NAI Hiffman (@NAIHiffman) NOTE: Silver Cross Hospital has renewed its lease for 87,461 square feet at Pavilion A in New Lenox, IL, nearly two years ahead of schedule, securing a net rental rate reduction and improvement allowance. PGIM Real Estate owns the Class A medical facility, which also houses tenants like Shirley Ryan AbilityLab.

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Deal Type
Effective Rent (Annual)

$5,013,211.74

Total Lease Value

$50,132,117.42

Net Landlord Cash Flow$5,013,211.74