{"id":1004764736,"date":"2025-07-14T04:37:57","date_gmt":"2025-07-14T12:37:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004764736"},"modified":"2025-07-14T04:37:58","modified_gmt":"2025-07-14T12:37:58","slug":"medproperties-buys-chicago-mob","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/medproperties-buys-chicago-mob\/","title":{"rendered":"MedProperties Buys Chicago MOB"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a11e551987b7&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"601\" height=\"450\" data-attachment-id=\"1004764742\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/medproperties-buys-chicago-mob\/millennium-medical-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Millennium-Medical-Center.png\" data-orig-size=\"601,450\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Millennium Medical Center\" data-image-description=\"&lt;p&gt;Exterior shot of Millenium Medical Center, a medical outpatient facility in Chicago Ridge, Ill.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Class B facility is some 20 miles away from downtown Chicago. Image courtesy of MedProperties Realty Advisors&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Millennium-Medical-Center.png?w=601\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Millennium-Medical-Center.png\" alt=\"Exterior shot of Millenium Medical Center, a medical outpatient facility in Chicago Ridge, Ill.\" class=\"wp-image-1004764742\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Millennium-Medical-Center.png 601w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Millennium-Medical-Center.png?resize=300,225 300w\" sizes=\"auto, (max-width: 601px) 100vw, 601px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Millennium Medical Center rises two stories some 20 miles from downtown Chicago. <em>Image courtesy of MedProperties Realty Advisors<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>MedProperties Realty Advisors has acquired Millennium Medical Center, a 41,540-square-foot medical outpatient facility in Chicago Ridge, Ill. Old National Bank provided debt for the transaction.<\/p>\n\n\n\n<p>Affiliated Oncologists previously owned the asset, according to Yardi Research Data. The building\u2019s lead tenant is an affiliate of U.S. Oncology, a McKesson subsidiary. The roster also includes companies that provide services to patients with cancer and related conditions and have a long weighted average lease term.<\/p>\n\n\n\n<p>The two-story facility came online in 2018 and was purpose-built. In 2016, the developer took out a $11.9 million loan from Old National Bank, according to the same source. The low-rise has an open, atrium entryway and about 140 parking spaces.<\/p>\n\n\n\n<p>Located at 10604 SW Highway, the facility is close to Interstate 294 and more than 1 mile from the city center. Downtown Chicago is 20 miles away, while Chicago O\u2019Hare International Airport is 27 miles northwest. Other medical providers in the area include Northwestern Medicine Palos Hospital, ACL Lab and Gold Rush Dental Laboratory.<\/p>\n\n\n\n<p>During the first quarter of this year, <a href=\"https:\/\/www.commercialsearch.com\/news\/why-mobs-remain-a-strong-bet-for-investors\/\">investment in medical outpatient buildings<\/a> totaled $1.6 billion, dropping sharply by 42 percent compared to the previous quarter, according to a <a href=\"https:\/\/www.cbre.com\/insights\/figures\/q1-2025-us-medical-outpatient-buildings-figures\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">CBRE national report<\/a>. However, overall sales in the sector rose 5 percent year-over-year. The average price per square foot was $279.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two-story facility came online in 2018.<\/p>\n","protected":false},"author":3355,"featured_media":1004764742,"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":[32789,52514,51551],"class_list":["post-1004764736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-investment","category-medical-office","category-midwest","category-latest","tag-cbre","tag-mckesson","tag-medproperties-realty-advisors-llc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MedProperties Buys Chicago MOB - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"MedProperties Realty Advisors purchased Millennium Medical Center, a medical office building in Chicago Ridge, Ill., near Chicago.\" \/>\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\/medproperties-buys-chicago-mob\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MedProperties Buys Chicago MOB\" \/>\n<meta property=\"og:description\" content=\"MedProperties Realty Advisors purchased Millennium Medical Center, a medical office building in Chicago Ridge, Ill., near Chicago.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/medproperties-buys-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=\"2025-07-14T12:37:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-14T12:37:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Millennium-Medical-Center.png\" \/>\n\t<meta property=\"og:image:width\" content=\"601\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\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\/medproperties-buys-chicago-mob\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/medproperties-buys-chicago-mob\/\",\"name\":\"MedProperties Buys Chicago MOB - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/medproperties-buys-chicago-mob\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/medproperties-buys-chicago-mob\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Millennium-Medical-Center.png\",\"datePublished\":\"2025-07-14T12:37:57+00:00\",\"dateModified\":\"2025-07-14T12:37:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"MedProperties Realty Advisors purchased Millennium Medical Center, a medical office building in Chicago Ridge, Ill., near Chicago.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/medproperties-buys-chicago-mob\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/medproperties-buys-chicago-mob\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/medproperties-buys-chicago-mob\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Millennium-Medical-Center.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Millennium-Medical-Center.png\",\"width\":601,\"height\":450,\"caption\":\"The Class B facility is some 20 miles away from downtown Chicago. 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