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ERG Property Advisors Closes on 41,000 SF Medical Office Building in Bannockburn, IL

ERG Property Advisors is pleased to announce the sale of 2151 Waukegan Road in Bannockburn, IL.
 
The 41,000 SF asset is 100% Net Leased to NorthShore University HealthSystem through 2022 (Moody’s Credit Rating: Aa2). The Property is located on Waukegan Road, which is Bannockburn’s major office and retail thoroughfare, and is approximately 4 miles from Highland Park Hospital, which is owned by NorthShore HealthSystems. This location is well suited for NorthShore, as many physician groups locate nearby their hospital patient base to provide easy access for services.
 
Within one mile of the Property, the population is 2,274 and the average household income is $282,583; within three miles of the Property, the population is 54,335 and the average household income is $188,373.
 
NorthShore serves patients throughout the Chicago metropolitan area through a network of four hospitals (Evanston, Glenview, Highland Park and Skokie). As part of this system, Northshore has an 800+ physician group practice with over 100 office locations. NorthShore has annual revenues of approximately $1.8 billion and, as of September 2012, became part of the Mayo Clinic Care Network.
 
The property sold for $12,400,000 which represents a cap rate of 6.75%. Andrew Greenberg, Senior Director of Retail for ERG Property Advisors exclusively brokered this transaction.
 
For more information about this property, please contact or Andrew Greenberg at (646) 253-0950 his email is agreenberg@ergpa.com.
 
About ERG Property Advisors
 
ERG Property Advisors is a full-service commercial brokerage company based in New York City. Our core activities are investment sales, mortgage brokerage and direct capital services. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG’s Retail Division specializes in the disposition of commercial investment real estate property nationally with a focus on freestanding Net-Lease properties. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles. Through strategic alliances with select companies we are able to offer our clients access to mortgage brokerage, direct capital services and investment sales brokerage. Visit www.ergpa.com for recent deals and press coverage. 



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