**MedProperties Realty Advisors Acquires Millennium Medical Center in Suburban Chicago**
MedProperties Realty Advisors, a Dallas-based healthcare real estate investment firm, has acquired Millennium Medical Center, a 41,540-square-foot outpatient medical building located at 10604 Southwest Highway in Chicago Ridge, Illinois.
Constructed in 2018 by a group of local physicians, the two-story facility features an open atrium entryway and is strategically located with convenient access to surrounding hospitals. The original physician ownership group sold the property to MedProperties Realty Advisors, though financial terms of the transaction were not disclosed. Financing for the acquisition was provided by Old National Bank.
Millennium Medical Center’s lead tenant is an affiliate of US Oncology, a prominent national cancer treatment provider with more than 600 centers across the country. The remainder of the tenant mix comprises medical practices focused on cancer and related health services. Most tenants have made long-term lease commitments, contributing to a favorable long-term weighted average lease term.
“Medical and healthcare real estate continues to provide a great risk-adjusted investment opportunity relative to other asset classes,” stated Darryl Freling, Managing Principal of MedProperties Realty Advisors.
This acquisition highlights MedProperties’ continued strategy of investing in high-quality, specialized healthcare facilities in strong suburban markets across the country.
