Updated Dec 4, 2024
Stage Equity Partners Acquires Hollister Grove Medical Office Portfolio In Libertyville For $11M
1800 Hollister Drive & 1900 Hollister Drive
$11,000,000
Building Size
—
Asset Type
Medical Office
Closing
Dec 5, 2023
About this deal
AI
The Hollister Grove Medical Office Portfolio in Libertyville, a suburb of Chicago, has been sold for $11 million. The portfolio consists of two buildings located at 1800 Hollister Drive and 1900 Hollister Drive. The first building is 58,000 square feet and is 91% leased, while the second building is 34,000 square feet and is 57% leased. Both buildings have medical tenants.
Summary of transation details
- Property Type: Medical Office
- Transaction Amount: $11,000,000
- Address: 1800 Hollister Drive & 1900 Hollister Drive
- Market: Libertyville
The sale of the Hollister Grove Medical Office Portfolio was brokered by Cushman & Wakefield. The buyer, Stage Equity Partners, was represented by Brian Howard. The seller, Hollister Inc., was represented by John Schneider. The brokers involved in the deal were Sushil Puria, Travis Ives, and Tyler Morss from Cushman & Wakefield.
It is worth noting that this transaction marks a significant investment in the Libertyville medical office market, showcasing the continued interest and confidence in the area's healthcare sector.
On the Map
$11,000,000
Medical Office
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Players
Libertyville 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93