Quadrangle Development Company, represented by Avison Young Principals Erik Foster and Mike Wilson, has sold a two-building, 70,000-square-foot core medical office portfolio in Naperville, Illinois, to California-based healthcare REIT, American Healthcare Investors.
The portfolio has a 90 percent occupancy rate, with long-term tenants who are highly active in the area’s healthcare market. The three-story, 50,000-square-foot building located at 1020 East Ogden Avenue is anchored by DuPage Medical Group, one of the largest and most well-known independent multi-specialty groups in Illinois. The second building, located at 1012 West 95th Street, totals nearly 20,000 sf and is anchored by Adventist Health System (now called AMITA Health).
The portfolio is situated west of downtown Chicago with easy access to a large and growing patient base in high-visibility locations. The buildings are strategically located near major regional hospitals: Edward Health Hospital in Naperville, IL; Northwestern Central DuPage Hospital in Winfield, IL; Adventist Bolingbrook Hospital in Bolingbrook, IL; Rush Copley Medical Center in Aurora, IL; and Advocate Good Samaritan Hospital in Downers Grove, IL.