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$1,125,000
Est. payment /mo
5,272 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office/Tech
Listing Status Active
Purchase Type For Sale
Square Footage 5,272 sqft
Price per Sqft $213
MLS Listing ID 12377740
Year Built 1964
Tax Year 2023
Lot Dimensions 25 X 125
Property Sub-Type Office/Tech
Property Description
Positioned in the heart of Chicago's historic and affluent Beverly neighborhood, 11238 S. Western Ave presents a premier medical office investment opportunity tailored for institutional and REIT buyers seeking asset stability, long-term growth, and immediate income. This 5,272-square-foot, two-story masonry building delivers a true 8.5 capitalization rate with an (NOI) of 95,655.45 annually, making it a compelling acquisition for healthcare-focused portfolios. As a key asset in the exclusive Western Medical Portfolio, the property is anchored by a durable tenant mix that includes Life Source Pharmacy, Today's Dental Beverly, and Dr. Theodore James, MD-all of whom contribute to the property's dependable cash flow and low rollover risk. The building features a highly functional and dividable medical office layout with modern exam rooms, private physician offices, ADA-compliant restrooms, and patient-friendly reception areas, designed to accommodate both primary and specialty care services. Its professional build-out supports evolving care models and aligns with the healthcare industry's ongoing transition to outpatient and community-based service delivery. With on-site parking and ample street parking, the facility enhances ease of access for both patients and practitioners. Located along **Western Avenue-one of Chicago's highest-trafficked medical and commercial corridors-**the property enjoys exceptional visibility and signage potential, surrounded by dense rooftops and strong demographics. Its strategic location offers immediate access to I-57 and I-94, quick connectivity to downtown Chicago and the surrounding suburbs, and is just minutes from the 111th Street Metra Station and 19 minutes from Midway International Airport. This prime connectivity supports patient volume while positioning the asset for strong leasing velocity in future cycles. The Beverly community is one of Chicago's most desirable and stable residential enclaves, known for its historic character, vibrant retail landscape, and healthcare demand driven by multigenerational families and aging populations. With a Walk Score of 73 ("very walkable"), tenants and patients alike enjoy proximity to neighborhood amenities that enhance quality of life and patient retention. This setting ensures ongoing demand for medical services and supports sustained occupancy for healthcare facilities. As demand continues to surge for core medical office assets that offer durability, tenant diversification, and income resilience, 11238 S. Western Ave stands out as a strategic acquisition. The property's solid income profile, tenant stability, and irreplaceable location make it an ideal fit for medical real estate investment trusts (REITs), private healthcare operators, and institutional funds focused on defensive, healthcare-aligned real estate. With healthcare delivery shifting closer to the patient, assets like this are positioned to outperform across economic cycles. This is a rare opportunity to own a fully leased, high-yield medical investment in one of Chicago's most enduring neighborhoods.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Exterior
View Y/N true
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Listed by Moses Hall • MoHall Commercial & Urban Development