Updated Oct 29, 2024
Community Healthcare Trust Acquires Medical Office Portfolio In Morris From Joliet Oncology-Hematology Associates
1600 Us-6, Morris, IL, 60450
Building Size
74,422 SF
Asset Type
Medical Office
Closing
Nov 22, 2023
About this deal
AI
The property involved in this transaction is a four-building medical office portfolio located at 1600 W. Route 6 in Morris, IL 60450, with a total square footage of 74,422. This asset is part of the Morris market, fully leased to national healthcare tenants.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: Not disclosed
- Address: 1600 W. Route 6, Morris, IL 60450
- Market: Morris
- Seller's Representative: Mike Wilson - Avison Young
- Buyer: Community Healthcare Trust
- Square Footage: 74,422
Erik Foster and Mike Wilson of Avison Young represented the seller, a partnership of physicians associated with Joliet Oncology–Hematology Associates Ltd. The buyer, Community Healthcare Trust, is based in Franklin, Tennessee.
On the Map
Medical Office
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Players
Morris Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93