Northwestern Medicine Acquires Medical Office Building In Oak Brook For $58 Million
1001 Commerce Drive
$58,000,000
$743/SF
Building Size
78,000 SF
Asset Type
Medical Office
Closing
Jun 16, 2026
AI
The medical office building located at 1001 Commerce Drive in Oak Brook, IL, has a total area of approximately 78,000 square feet. The asset was sold for $58 million, representing a price per square foot of $744. This seven-story property was developed by Harrison Street and MedProperties Group, with its opening in 2024 marking its continued operation in the healthcare sector.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $58,000,000
- Square Footage: 78,000
- Address: 1001 Commerce Drive
- Market: Oak Brook, IL
- Buyer: Northwestern Medicine
- Seller: Christopher Merrill - Harrison Street; Matthew J. Campbell - MedProperties Group
- Price Per Square Foot: $744
A Northwestern Medicine affiliate transitioned from being a tenant to an owner through this acquisition, reflecting the ongoing demand for medical office real estate as outpatient healthcare continues to perform well in the commercial property market.
Market Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93