The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Oak Street Health property located at 1401 Western Avenue in Chicago Heights, Illinois for $4,835,629.
The 13,943 square foot medical building is located at the hard corner of a signalized intersection along Lincoln Highway (27,200 VPD), which is a primary east-west thoroughfare. The property is located in a thriving retail corridor near Walmart Supercenter and other retailers including Food-4-Less, FedEx, Fifth Third Bank, ALDI and CVS. The property is also located near Rich Central High School, Wilson Elementary School, and the Barack Obama School of Leadership. There are over 172,000 people living within five miles, earning an average household income of $80,304 annually.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a private real estate partnership and the buyer was based in France.
Oak Street Health is a rapidly growing company of primary care centers for adults on Medicare in medically-underserved communities. Oak Street’s care is based on an entirely new model that is based on value for its patients, not on volume of services. The Chicago-based network of primary care clinics for people 65 and older raised $352 million when it went public in August 2020.
“E-Commerce resistant tenants in MSA’s like Chicago remain as a staple for net lease investors.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Medical and service based single tenant assets are in high demand.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $6 billion of single tenant net lease real estate transactions. From 2012-2020, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
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Address:3520 Lake Avenue Suite 203
Country: United States