Sale of Medical Outpatient Facility in Chicago

Chicago, IL – Senior Vice Presidents Rahul Chhajed and Michael Moreno of Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, sourced a buyer for the $22,780,000 sale of an approximately 41,600-square-foot Class A condo leased to Rush University Medical Center, located in South Loop, Chicago. Situated at 1411 S. Michigan Avenue, the condo is part of a larger mixed-use building that also includes a residential component.

Built in 2018 for Rush, one of Chicago’s largest healthcare providers, the facility offered the buyer high-caliber real estate in an in-fill location. Equipped with 61 exam and procedure rooms, the multi-specialty clinic is staffed by over 60 physicians and offers adult and pediatric primary care as well as more than 20 medical specialties. The buyer, IRA Capital, is one of the most active purchasers of healthcare real estate in the nation.

Commenting on the transaction, Rahul Chhajed said, “This was a unique transaction in that it took just over a month from contract execution to close the transaction. Both buyer and seller worked diligently in a collaborative nature to accommodate a tight timeline and ensure a successful closing.”

For more information or to contact a Matthews™ specialized agent, please visit
www.matthews.com.

About Matthews™

Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.

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