Retail Business for Sale in Oak Lawn, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Oak Lawn, IL 60453

Description

Marcus & Millichap is pleased to exclusively offer JenCare Senior Medical Center, located in a dense Chicago suburb, which operates under a triple-net lease with 3 percent annual increases. JenCare has been at this location for over a decade, reaffirming its commitment by renewing the lease for seven more years in 2020, with three years currently remaining. Furthering its investment, the company spent over $50,000 in 2024 to install a new fiber optic system and improve the parking lot through resurfacing and striping. JenCare is a rapidly growing senior primary care provider formed through a joint venture between ChenMed and Humana. With 33 locations across five states, it is part of ChenMed's broader network, which has grown steadily over the past decade, increasing membership by 37.06% annually from 2010 to 2022. ChenMed operates over 130+ locations in 15 states and in 2022/2023 37 new clinics that year opened. The property is situated near two major hospitals with a combined total of 1,086 beds. Advocate Christ Medical Center, located just 2.5 miles away, is a premier teaching institution with over 1,500 affiliated physicians and 105,000 patient visits annually. It is one of the busiest Level I trauma centers in Illinois. OSF Little Company of Mary Medical Center, located 4.4 miles from the site, offers 298 beds and handles 11,600 inpatient visits, 253,000 outpatient visits, and nearly 50,000 emergency department patients annually. The JenCare facility is positioned along Oak Lawn’s busiest corridor, 95th Street, a major thoroughfare that sees 33,325 vehicles per day. The area is home to major shopping centers, including the Chicago Ridge Mall, which attracted seven million visitors over the past year. Additionally, the property is located just two miles from the Interstate 294 interchange, which has a traffic count of 181,700 vehicles per day. The medical center is surrounded by several assisted living facilities, including Oak Lawn Respiratory & Rehabilitation

Market Context

This retail in Oak Lawn, IL is listed for sale. It is offered at an approximate 8.6% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 52 days. Compare it against other retail listings for sale in Oak Lawn, IL — <a href="/search/sale/retail/illinois/oak-lawn">view the full market</a>.

Contact

Explore this market

Similar Retail Business for Sale in Oak Lawn, IL