{"id":1004683935,"date":"2023-10-02T04:00:50","date_gmt":"2023-10-02T12:00:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004683935"},"modified":"2023-10-03T05:29:36","modified_gmt":"2023-10-03T13:29:36","slug":"sila-realty-trust-pays-60m-for-chicago-mob","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sila-realty-trust-pays-60m-for-chicago-mob\/","title":{"rendered":"Sila Realty Trust Pays $60M for Chicago-Area MOB"},"content":{"rendered":"
\"Burr<\/a>

Burr Ridge Healthcare Facility is less than 20 miles from downtown Chicago. Image courtesy of CommercialEdge<\/em><\/p><\/div>\n

Sila Realty Trust Inc.<\/strong> has acquired Burr Ridge Healthcare Facility, a 104,912-square-foot medical office building in Burr Ridge, Ill., for $60 million. The previous owner was Healthcare Realty<\/strong>, according to CommercialEdge data, which had acquired it\u00a0in 2017 from Duke Realty<\/strong> in a portfolio transaction.<\/p>\n

Completed in 2011 on nearly 7 acres, the three-story building features two passenger elevators, a fitness center and 1,000 square feet of retail space. The property has a parking ratio of 4 spaces per 1,000 square feet.<\/p>\n

\n

READ ALSO:<\/strong> Checkup on Health-Care, Life Science Opportunities<\/a><\/p>\n

\n

The property came online as a build-to suit for Loyola University Medical Center, an academic subsidiary of Trinity Health. The facility offers a variety of services, including primary care, ophthalmology, transplant, neurology, radiology and women\u2019s health, as well as physical, occupational, speech and cardiac rehabilitation.<\/p>\n

Burr Ridge Healthcare Facility is near Interstate 55 at 6800 N. Frontage Road, less than 20 miles from downtown Chicago. The outpatient clinic is in proximity of three LUMC hospitals, including the 547-bed Loyola University Medical Center. Other medical facilities in the surrounding area include Village Center Drive, MetroSouth, Willowbrook Medical Center and Midwest Express Clinic, among others.<\/p>\n

As of June, Sila Realty Trust owned 132 health-care properties across the U.S., of which 90 were medical office buildings. The company has invested $2.4 billion in a portfolio encompassing 5.4 million rentable square feet.<\/p>\n

Chicago’s medical office market activity<\/h2>\n

Some 517,750 square feet of medical office space changed hands in Chicagoland year-to-date as of October, according to CommercialEdge data. The properties traded for a total of $65 million.<\/p>\n

In one of the deals, Hammes Partners acquired a six-building medical office portfolio<\/a> for $21 million. Twin Building Management sold the assets, encompassing more than 120,000 square feet, that were spread across northern suburbs of the city.<\/p>\n","protected":false},"excerpt":{"rendered":"

A medical center affiliated with a major university occupies the facility.<\/p>\n","protected":false},"author":2829,"featured_media":1004683937,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21783,21754,13,21742],"tags":[33010,36666,51141],"class_list":["post-1004683935","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-investment","category-medical-office","category-midwest","category-latest","tag-duke-realty-corporation","tag-healthcare-realty-trust-inc","tag-sila-realty-trust-inc"],"acf":[],"yoast_head":"\nSila Realty Trust Pays $60M for Chicago-Area MOB - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Sila Realty Trust acquired Burr Ridge Healthcare Facility, a medical office building in Burr Ridge, Ill., from Healthcare Realty.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/sila-realty-trust-pays-60m-for-chicago-mob\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sila Realty Trust Pays $60M for Chicago-Area MOB\" \/>\n<meta property=\"og:description\" content=\"Sila Realty Trust acquired Burr Ridge Healthcare Facility, a medical office building in Burr Ridge, Ill., from Healthcare Realty.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/sila-realty-trust-pays-60m-for-chicago-mob\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-02T12:00:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-03T13:29:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Burr-Ridge-Healthcare-Facility.-Image-courtesy-of-CommercialEdge-e1696239225493.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"835\" \/>\n\t<meta property=\"og:image:height\" content=\"626\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sila-realty-trust-pays-60m-for-chicago-mob\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/sila-realty-trust-pays-60m-for-chicago-mob\/\",\"name\":\"Sila Realty Trust Pays $60M for Chicago-Area MOB - 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