The Boulder Group, a net leased investment brokerage firm, has 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 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.