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Will Germain Of MCB Science Health Acquires Medical Office In Naperville For $28M

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SOLD
$28,000,000

Illinois

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Medical Office72,468 SF
Sold 09/09/2024
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SOLD

Will Germain Of MCB Science Health Acquires Medical Office In Naperville For $28M

1331 75th Street

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Medical Office72,468 SF
Sold 09/09/2024
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Medical Office
Price Per Square Foot:$386
Total Square Footage:72,468 SF
Transaction Type:Sale

The medical office property located at 1331 75th Street in Naperville was sold for $28 million. This asset encompasses 72,468 square feet and has a price per square foot of $386. The building is nearly full and is anchored by Endeavor Health, which has secured a long-term lease, indicating a stable investment in the medical office sector.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: $28,000,000
  • Address: 1331 75th Street
  • Market: Naperville
  • Square Footage: 72,468
  • Price Per Square Foot: $386
  • Buyer: Will Germain - MCB Science + Health
  • Seller: Ali Setork - DynaCom Management
  • Broker: Jason St. John - Greenstone Partners

This transaction marks MCB Science + Health's first medical office purchase in the Chicago area, highlighting the ongoing demand for stable medical office properties within the commercial real estate market.

Players

Jason St. John
Greenstone Partners
Jason St. John
26 deals$200.7M volume
BROKER

Details

SOLD
IMAGE: Will Germain & Jason St. John DATE: 09/09/2024 ADDRESS: 1331 75th Street MARKET: Naperville ASSET TYPE: Medical Office BUYER: Will Germain - MCB Science + Health (@MCBInvests) SELLER: Ali Setork - DynaCom Management BROKER: Jason St. John (@JasonStJohn) - Greenstone Partners (@GreenstonePartners) SALE PRICE: $28,000,000 SF: 72,468 ~ PPSF: $386 NOTE: MCB Science + Health acquired the 72,468-square-foot iMed Naperville Medical Office building for $28 million from DynaCom Management, marking MCB’s first medical office purchase in the Chicago area. The nearly full building, anchored by Endeavor Health on a long-term lease, highlights investor demand for stable medical office properties amid broader commercial real estate challenges.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,493,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$99,478.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$132,734.28
Annual Debt Service$1,592,811.42