Rockford VA Outpatient Clinic 816 Featherstone Rd 31,274 SF Office Building Rockford, IL 61107 For Sale

The Ficke Team of Colliers has been exclusively retained to market to qualified investors the Veteran Affairs - Community Based Outpatient Clinic (VA CBOC) located at 816 Featherstone Road in Rockford, Illinois. This 31,274 square foot (RSF) building was a build-to-suit for the VA in 2012 and is situated on a 3.86 acre lot. With 7 years of firm remaining lease term (May 2032 expiration), this offering provides a recession resistant investment, generating stable risk-adjusted yield with long-term likelihood of future lease renewals at premium rental rates. In addition, the VA has spent considerable resources planning a future expansion of this facility, which is expected to result in a new long-term lease and additional rental revenue. A 9,300 SF addition was initially selected for approval after a year of planning and design by current ownership, however, the VA lacked the requisite funding at the time (1Q 2025) to complete the expansion, the project remains on hold. This clinic uniquely meets LEED-Silver standards and incorporates numerous sustainable features, including a geothermal heating and cooling system. The building was constructed with tinted precast panels and features a sand-blasted exterior canopy and a separate canopy and entrance for ambulance traffic. The interior of the clinic incorporates a generous public waiting area and lobby, numerous physician offices, treatment rooms, staff support areas, laboratories, a pharmacy and diagnostic testing capabilities. In 2024 the building’s interior flooring recieved a refreash throughout. This asset offers qualified investors the unique opportunity to acquire a credit rated tenant (Moody’s Aaa), guaranteed by the full-faith of the U.S. Government.
Rockford is a city in Winnebago County, Illinois, located in the far northern part of the state. Situated on the banks of the Rock River, Rockford is the county seat of Winnebago County. The largest city in Illinois outside of the Chicago metropolitan area, Rockford is the fourth-largest city in the state and the 171st most populous in the United States. According to 2020 U.S. Census data, the City of Rockford had a population of 148,655 with an outlying metropolitan area population of 348,360. Some of the largest employers include Fiat Chrysler, Mercy Health, Swedish American Health System, OSF Healthcare, Collins Aerospace, PCI – Packaging, BMO Harris, Walmart Stores and Harley Davidson.