Jupiter, Florida–(Newsfile Corp. – February 18, 2025) – Healing Realty Trust Inc. (“Healing Realty Trust”, “HRT” or the “Company”) is a healthcare-focused real estate investment company concentrated on acquiring value-add to core-plus medical office buildings with core-like, durable cash flows, is pleased to announce the acquisition of a fully stabilized, multi-tenant medical office strip center located at 4928-5000 W 95th Street in Oak Lawn, Illinois. The Class C medical office asset was acquired for $4,290,520, representing a purchase price of $196.77 per square foot.
Situated in the heart of Oak Lawn, just 16 miles southwest of downtown Chicago, the 21,805-square-foot property consists of two buildings and is fully occupied by a mix of 10 specialty medical tenants. The property, originally a neighborhood retail strip center, has been successfully repositioned into a thriving healthcare hub, benefiting from its close proximity to Advocate Christ Medical Center, a premier 788-bed teaching institution with over 1,500 affiliated physicians.
“We are thrilled to add this core-plus medical office asset to our growing portfolio,” said Joe Caltabiano, CEO of Healing Realty Trust. “This acquisition aligns with our strategic investment approach of acquiring stable, income-producing properties while identifying opportunities to enhance long-term value. With 100% medical tenancy and a strong historical occupancy rate, we see significant potential in extending lease terms, implementing annual rent growth, and improving the property’s outward aesthetics.”
The property is ideally positioned within a half-mile radius of numerous healthcare providers, including DaVita Dialysis, Alzein Pediatric Urgent Care, Pain Treatment Centers of Illinois, and more. Additionally, its location offers excellent accessibility, with a nearby Metro station providing convenient transportation options to downtown Chicago and surrounding suburbs.
The acquisition further strengthens HRT’s commitment to investing in high-quality medical office assets in strategic markets. With a market vacancy rate of 5.67%, the property is expected to generate solid returns throughout the hold period.
For more information about this acquisition or HRT’s portfolio, please contact:
About Healing Realty Trust
HRT is a real estate investment firm dedicated to acquiring and managing top-tier commercial properties in strategic markets, enhancing healthcare-focused medical office buildings through value-add and core-plus strategies.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241194
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