2640 W 183rd St - Medical FOR SALE


Homewood, IL 60430
$2,715,308 USD
310-919-5835
2640 W 183rd St, Homewood, IL for Sale
$2,715,308 USD
Medical - FOR SALE
1/3
null | 9.25% Cap Rate

2640 W 183rd St
Homewood, IL 60430


HIGHLIGHTS

  • Extremely Passive Investment – This long-term single tenant healthcare investment features a landlord friendly lease structure with minimal landlord.
  • High Visibility Location – The property is on a corner lot at a signalized intersection with multiple points of ingress and egress.
  • E-Commerce Resistant Tenant – Healthcare operators aren’t prone to the same competition that many retail tenants face.
  • Recent Practice Acquisition – The practice at this property was purchased by EyeSouth Partners in 2022. They assumed a 5-year lease with options.
  • Chicago, MSA – Horsham is 25 miles southwest of Chicago, and part of the Chicago MSA. Chicago is the 3rd largest city in the United States.
  • Affluent Area with High Population – The 1-mile average household income in the area surrounding the property is over $99K/year.

OVERVIEW

Matthews Healthcare Division is pleased to bring to market a recently extended free standing eyecare facility at 2640 183rd in Homewood, IL just outside of Chicago. Arbor Center for Eyecare (part of EyeSouth Partners) has over 6 years remaining on a recently extended lease with one 5-year renewal option remaining. The lease includes 3% rental increases every year starting January 1st, 2025, to help hedge against inflation. Arbor Center for Eyecare is strategically located on a signalized corner with a 4-way traffic light at the intersection of 183rd St and Governors HWY. Located kitty corner to other medical users and a Walgreens Pharmacy, the site is in a prime area for medical use and is conveniently located near retail shopping and residential housing. The site has 2 points of ingress egress, excellent visibility at the front of the corner lot, and is situated near the commercial center of the city. Homewood is located South West of Chicago, approximately 30 minutes from downtown and easily accessible by car, as well as train and bus lines that frequent the city. Broker of Record Matthew M. Fitzgerald License No. 478027547 (IL) (866) 889-0550 Matthews Real Estate Investment Services, Inc 1600 West End, Ste. 1500 Nashville, TN 37203

FOR SALE DETAILS

PRICE

$2,715,308 USD

PRICE/SF

$226 USD /SF

CAP RATE

9.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Arbor Center For Eye Care

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Convenience Store, Drug Store, Fast Food

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,988 SF

ZONING

R6, Brooklyn (S3)

APN/PARCEL ID

28-36-410-009-0000,28-36-410-010-0000,28-36-410-011-0000,28-36-410-021-0000,28-36-410-022-0000

ASK ABOUT THIS PROPERTY

Kyle MackulakMatthews Real Estate Investment ServicesMore Info
310-919-5835

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Kyle MackulakMatthews Real Estate Investment ServicesMore Info
310-919-5835

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.