“California Investor Acquires Oak Street Health Property in Chicago”

"California Investor Acquires Oak Street Health Property in Chicago"

Marcus & Millichap has successfully completed the sale of a 7,466-square-foot net-leased medical property located at 6918 W. Archer Avenue in Chicago, Illinois. The property was acquired by a California-based private investor and was exclusively marketed by senior managing directors Austin Weisenbeck and Sean Sharko, along with associate Daniel Chumbley from Marcus & Millichap’s Chicago Oak Brook office.

The newly renovated building features a new roof, exterior updates, and significant interior renovations for its tenant Oak Street Health. The healthcare company recently signed a new 20-year triple-net lease and is expanding into four additional states on top of its current presence in 21 states. Earlier this year, CVS purchased Oak Street Health for $10.6 billion.

This recent transaction showcases the continued strength of the commercial real estate market in Chicago as well as nationwide interest from investors seeking high-quality properties with long-term tenants like Oak Street Health.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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