Physicians Immediate Care
Now Part of WellNow Urgent Care

OSF HealthCare

 Rockford, Illinois

Asking Price


Cap Rate



Building Size

10,400 SF


Expense Structure

Absolute NNN


Land Size

1.54 AC

Householdincome - white-02-1

Avg. HH Income (5-Mile)



Year Built


For more details on this exclusive listing

By submitting the form, you agree to the terms and conditions of our Confidential Disclaimer.


  • Absolute NNN Lease with No Landlord Obligations  - The Property is subject to an absolute triple net lease with no Landlord maintenance obligations of any nature. All operating expenses are paid directly by the Tenant.
  • Rare 2.5% Annual Rental Increases – The typical WellNow lease features 8-10% annual increases every 5 years. This outstanding lease offers annual rental escalations of 2.50% throughout the original term and during the two (2), ten (10) year renewal options, providing bolstered returns and a hedge against future inflation.
  • Rare 10-Year Option Periods – The typical WellNow lease features two 5-year renewal options. The subject property's lease benefits from having two 10-year renewal options.
  • Attractive Rental Rate Below National Average - The Lease features an annual rent of $17.33 PSF, well below the national average for WellNow leases. WellNow Urgent Care rents have ranged from $38.75 PSF to as high as $54.47 PSF.
  • Healthy Historic Profitability and Operational Success - The Lease features unit level financial reporting, rare to WellNow leases, which allows investors transparency to how this location is doing.
  • Trusted Regional Operator – Over the past 30 years, Physicians Immediate Care has grown into an established operator, serving over one million patients at its 42 locations in Illinois and Indiana. In 2022, WellNow Urgent Care completed its strategic acquisition of Physicians Immediate Care. Together they have over 200 locations.
  • Joint Venture with OSF Healthcare System – In November 2017, PIC and OSF HealthCare formed a joint venture to operate five clinics in the Rockford area. The Property benefits from the consumer trust and recognition of the dominant health system, and the significant investment OSF made in the operation.


Exclusively Listed By

Christian Vaughan

Vice President      918.794.9544

Toby Scrivner

Senior Vice President      918.794.9554

Jeff Matulis

Senior Vice President      918.794.9525

In Association With
Tom Fritz

IL License #471018602


6120 South Yale Ave | Suite 300
Tulsa, Oklahoma 74136