Advocate Health And Hospitals Corporation Acquires Medical Office In Naperville For $23.4M

The medical office asset involved in the transaction is located at 1836 Freedom Drive in Naperville, IL. The property encompasses 42,438 square feet and has a sale price of $23,400,000, translating to a price per square foot of $551. This single-tenant medical facility is purpose-built specifically for cardiovascular surgery and outpatient care, situated within Freedom Commons.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $23,400,000
• Buyer: Eugene A. Woods - Advocate Health and Hospitals Corporation
• Seller: Kage Brown & John McLinden - HSG Medical; Daniel Ahlering, Jay Heald & Jack Sullivan - Capital Healthcare Properties
• Buyer's Representative: Tom Hollinden - CBRE
• Seller's Representative: Alex Sharrin - JLL

The transaction involved Advocate Health and Hospitals Corporation acquiring the Advocate Health Care Cardiovascular ASTC & Outpatient Center from HSG Medical and Capital Healthcare Properties. The property was redeveloped to cater specifically to Advocate’s cardiology program, with JLL and CBRE managing the negotiations on each side of the deal.