The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net leased Oak Street Health property located at 1401 Western Avenue in Chicago Heights, Illinois for $4,835,629.<\/p>\n
The 13,943 square foot net leased Oak Street Health 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.<\/p>\n
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.<\/p>\n
Oak Street Health is a rapidly growing company of primary care centers for adults on Medicare in medically-underserved communities. Oak Street\u2019s 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.<\/p>\n
\u201cE-Commerce resistant tenants in MSA\u2019s like Chicago remain as a staple for net lease investors.\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cMedical and service based single tenant assets are in high demand.\u201d<\/p>\n