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Highland Medical Building 1300 N Highland Ave 23,470 SF 97% Leased Office Building Aurora, IL 60506 $4,634,361 CAD ($197.46 CAD/SF) 8.50% Cap Rate
Executive Summary
Stabilized Investment Opportunity - 97% leased multi-tenant medical office building with a Weighted Average Lease Term of 8.42 years, anchored by Aurora Eye Clinic, who just executed a new 12-year lease and expanded their footprint by 85%, now occupying over half the building through 2038
Below Replacement Cost - The property is being offered at $160/SF, well below replacement cost, providing investors the opportunity to acquire a high-quality asset in the heart of Aurora’s medical district
Prime Healthcare-Adjacent Location - The property benefits from an exceptional location directly across the street from Mercy Medical Center, a 1.3 million square foot medical campus anchored by a 292-bed hospital offering specialized services and 24/7 emergency care
Strong Tenant Mix - The property is anchored by Aurora Eye Clinic (20+ years of occupancy) and features a complementary mix of other medical providers and services. The
immediate proximity to a major healthcare provider drives consistent traffic and demand, supporting long-term tenancy
Exceptional Demographics - Asset is located within an affluent suburb of Chicago with over 163,612 residents and an average household income of $118,600 within a 5-mile radius of the site
Neighboring Medical Tenants - Surrounded by medical tenants such as; Mercy Medical Center, Advocate Outpatient Center, Rush Copley Medical Center, Mercy Behavioral Health, Genoa Healthcare, Avantara Aurora, and more
Below Replacement Cost - The property is being offered at $160/SF, well below replacement cost, providing investors the opportunity to acquire a high-quality asset in the heart of Aurora’s medical district
Prime Healthcare-Adjacent Location - The property benefits from an exceptional location directly across the street from Mercy Medical Center, a 1.3 million square foot medical campus anchored by a 292-bed hospital offering specialized services and 24/7 emergency care
Strong Tenant Mix - The property is anchored by Aurora Eye Clinic (20+ years of occupancy) and features a complementary mix of other medical providers and services. The
immediate proximity to a major healthcare provider drives consistent traffic and demand, supporting long-term tenancy
Exceptional Demographics - Asset is located within an affluent suburb of Chicago with over 163,612 residents and an average household income of $118,600 within a 5-mile radius of the site
Neighboring Medical Tenants - Surrounded by medical tenants such as; Mercy Medical Center, Advocate Outpatient Center, Rush Copley Medical Center, Mercy Behavioral Health, Genoa Healthcare, Avantara Aurora, and more
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
23,470 SF
Building Class
B
Year Built
1979
Price
$4,634,361 CAD
Price Per SF
$197.46 CAD
Cap Rate
8.50%
NOI
$393,921 CAD
Percent Leased
97%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
23,470 SF
Building FAR
0.15
Lot Size
3.50 AC
Zoning
O, Aurora - O
Parking
234 Spaces (10 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Signage
- Central Heating
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Built Out Medical Office Space across from Ascension Mercy Medical Center. Open Floor Plan with Sink in it.
| Space | Size | Space Use | Build-Out | Available |
| 1st Fl-Ste 11 | 665 SF | Office/Medical | Full Build-Out | Now |
1st Fl-Ste 11
| Size |
| 665 SF |
| Space Use |
| Office/Medical |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Fl-Ste 11
| Size | 665 SF |
| Space Use | Office/Medical |
| Build-Out | Full Build-Out |
| Available | Now |
Built Out Medical Office Space across from Ascension Mercy Medical Center. Open Floor Plan with Sink in it.
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 15-09-400-021 | Improvements Assessment | $455,189 CAD |
| Land Assessment | $570,273 CAD | Total Assessment | $1,025,462 CAD |
Property Taxes
Parcel Number
15-09-400-021
Land Assessment
$570,273 CAD
Improvements Assessment
$455,189 CAD
Total Assessment
$1,025,462 CAD
1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
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Highland Medical Building | 1300 N Highland Ave
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