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INVESTMENT HIGHLIGHTS
INVESTMENT GRADE TENANT - Advocate Aurora Health (AAH) is a non-profit health care system with 26 hospitals, more than 500 sites of care and 75,000 employees. Advocate Aurora Health holds an investment grade rating of Aa3 from Moody’s.
CHICAGO MSA ACQUISITION OPPORTUNITY - The Property is located in North Aurora, an affluent suburb of Chicago and part of the Chicago MSA. Commonly referred to as “Chicagoland", the Chicago metro area is the third-largest metropolitan area in the United States with an estimated population of 8.9 million as of 2022.
OUTSTANDING LEASE STRUCTURE - Advocate Health is operating under a NNN lease with over five (5.9) years remaining. The lease has three percent (3%) annual rent escalations starting 3/1/2025 and two (2), five (5) year renewal options. The passive nature of the NNN lease offers limited landlord responsibilities.
LONGSTANDING SUCCESSFUL OPERATING HISTORY & COMMITMENT TO LOCATION - The Property has operated successfully as a medical office facility at this site for nearly 20 years and has established a loyal customer base. Advocate Health was assigned the lease in February 2023 and extended the lease through February 2029 further demonstrating their commitment to the location.
OUTSTANDING DEMOGRAPHICS – The Property benefits from the outstanding demographic environment of Chicago’s affluent suburbs. Within a 5 mile radius of the Property, there are 181,785 residents earning an average HH income of $98,766.
