Remedy Medical Properties Acquires Property In Merrionette Park Represented By Drew Neems Of NorthMarq

The property asset involved in the transaction is a medical office center located at 11560 S Kedzie Ave, Chicago, IL, 60803. It consists of 99,210 square feet and is situated in the Merrionette Park market. The construction of the property was completed in 2004, and it is maintained by on-site management and maintenance.

Summary of transaction details:

• Property Type: Medical Office Center
• Transaction Amount: Undisclosed
• Seller's Representative: Drew Neems - NorthMarq
• Buyer: Remedy Medical Properties
• Market: Merrionette Park
• Square Footage: 99,210 SF
• Anchor Tenants: Advocate and Fresenius

Drew Neems, vice president – acquisitions and dispositions at Imperial Realty, represented the seller, DIR Development, in this transaction. The buying side was managed by Joe Magliochetti, CIO of Remedy Medical Properties, and Jack Gavin, senior vice president of investments. This deal highlighted continued interest in medical office properties, demonstrating resilience against market fluctuations.