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Lake Zurich Medical/Office Condos 5 Office/Medical Condos Online Auction Sale Lake Zurich, IL
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Investment Highlights
- Beautifully-maintained office located in Lake Zurich, consisting of five condos leased by three tenants with a 5.75-year WALT.
- "Sticky" tenants with unique buildouts and local ties
- Close proximity to two major thoroughfares in the area: Genesee Street and S Rand Road.
- Strong in-place cash flow with a Year 1 NOI of ±$144,347.
- Located within a dense office, retail, and industrial market, allowing for great synergy opportunities and amenities for clients and employees.
- Affluent location with 40,000+ people with a median household income exceeding $164,000 within a 3-mile radius of the asset.
Executive Summary
Colliers is pleased to offer for sale the 100% fee simple interest in Columbus Centre Office Condos (the “Asset,” “Property,” or “Portfolio”). The 100% occupied Portfolio consists of 5 office condos leased to 3 tenants totaling 8,175 square feet within a 30,500 square foot office building. The units included in the sale are 110, 120, 130, 140, and 150. The Property has a remaining WALT of 5.75 years with the anchor tenant, Revive, having 7.5 years remaining on its lease term.
All three tenants at the Property are “sticky” with strong local ties to the area. The anchor tenant, Revive, operates under a site-specific special use permit, which creates a barrier to competitors seeking to replicate the location. Additionally, they have specialized buildout for MAT clinic operations to address patient flow, dosing areas, security needs, etc.; these accommodations represent a substantial tenant capital investment, which would be forfeited should they vacate. Mike Lynch has established a 35-year community practice and has built and maintained a strong CFP book of business. Finally, OGRE’s location, resulting from a strategic 2024 acquisition of an established local operator, is a build-to-suit facility with tenant specific requirements regarding lighting, restrooms, and breakroom layout that is not available elsewhere in the market.
The Asset features an excellent location within a core office, retail, and industrial market with quick and convenient access to Genesee St and S Rand Rd, two major thoroughfares for the area. There are 249 office buildings totaling 4.5M square feet; 558 retail buildings totaling 8.1M square feet; and 171 industrial buildings totaling 6.8M square feet within a 5-mile radius of the Property.
Furthermore, the Property’s proximity to numerous retailers offer employees and clients convenient access to a wide array of amenities in the area. Major nearby retailers include Costco, Home Depot, Ace Hardware, Walgreens, LA Fitness, Trader Joe’s, Target, Jewel-Osco, TJ Maxx, and a wide array of fast and fast-casual restaurants. Furthermore, Lake Zurich is located within Lake County, which is home to 10 Fortune 500 companies including Abbott, AbbVie, Baxter, Walgreens, CDW, and more.
Columbus Centre is located in a well-performing and affluent market. There are 40K+ people with a median household income of $164K within a 3-mile radius of the Asset. Additionally, there are 4,175 businesses employing over 51,400 people and an unemployment rate of just 3.2% within 3 miles of the Property. Lake Zurich itself is a smaller town with just under 20K people with a median household income exceeding $150K. Additionally, Lake Zurich is home to 1,068 businesses employing 12,782 people.
Columbus Centre represents the perfect, right-sized deal for a private investor, family office, or 1031 exchange buyer. The property features a well-maintained Asset with limited management overhead needed and substantial WALT remaining.
Tyler Hague License No: 471009171
All three tenants at the Property are “sticky” with strong local ties to the area. The anchor tenant, Revive, operates under a site-specific special use permit, which creates a barrier to competitors seeking to replicate the location. Additionally, they have specialized buildout for MAT clinic operations to address patient flow, dosing areas, security needs, etc.; these accommodations represent a substantial tenant capital investment, which would be forfeited should they vacate. Mike Lynch has established a 35-year community practice and has built and maintained a strong CFP book of business. Finally, OGRE’s location, resulting from a strategic 2024 acquisition of an established local operator, is a build-to-suit facility with tenant specific requirements regarding lighting, restrooms, and breakroom layout that is not available elsewhere in the market.
The Asset features an excellent location within a core office, retail, and industrial market with quick and convenient access to Genesee St and S Rand Rd, two major thoroughfares for the area. There are 249 office buildings totaling 4.5M square feet; 558 retail buildings totaling 8.1M square feet; and 171 industrial buildings totaling 6.8M square feet within a 5-mile radius of the Property.
Furthermore, the Property’s proximity to numerous retailers offer employees and clients convenient access to a wide array of amenities in the area. Major nearby retailers include Costco, Home Depot, Ace Hardware, Walgreens, LA Fitness, Trader Joe’s, Target, Jewel-Osco, TJ Maxx, and a wide array of fast and fast-casual restaurants. Furthermore, Lake Zurich is located within Lake County, which is home to 10 Fortune 500 companies including Abbott, AbbVie, Baxter, Walgreens, CDW, and more.
Columbus Centre is located in a well-performing and affluent market. There are 40K+ people with a median household income of $164K within a 3-mile radius of the Asset. Additionally, there are 4,175 businesses employing over 51,400 people and an unemployment rate of just 3.2% within 3 miles of the Property. Lake Zurich itself is a smaller town with just under 20K people with a median household income exceeding $150K. Additionally, Lake Zurich is home to 1,068 businesses employing 12,782 people.
Columbus Centre represents the perfect, right-sized deal for a private investor, family office, or 1031 exchange buyer. The property features a well-maintained Asset with limited management overhead needed and substantial WALT remaining.
Tyler Hague License No: 471009171
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Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Miscellaneous
Market Analytics Click Here to Access
Property Facts
| Sale Condition | Auction Sale | Status | Active |
| Type of Ownership | Fee Simple | Number of Properties | 5 |
| Sale Type | Investment | Total Building Size | 8,134 SF |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Total Building Size | 8,134 SF |
Properties
| Property Name / Address | Property Type | Size | Year Built |
|---|---|---|---|
|
Columbus Centre
365 Surryse Rd, 1st Floor - Unit 110, Lake Zurich, IL 60047 |
Office/Medical Condo | 1,811 SF | 2008 |
|
Columbus Centre
365 Surryse Rd, 1st Floor - Unit 130, Lake Zurich, IL 60047 |
Office/Medical Condo | 1,810 SF | 2008 |
|
Columbus Centre
365 Surryse Rd, 1st Floor - Unit 120, Lake Zurich, IL 60047 |
Office/Medical Condo | 1,754 SF | 2008 |
|
Columbus Centre
365 Surryse Rd, 1st Floor - Unit 140, Lake Zurich, IL 60047 |
Office/Medical Condo | 1,573 SF | 2008 |
|
Columbus Centre
365 Surryse Rd, 1st Floor - Unit 150, Lake Zurich, IL 60047 |
Office/Medical Condo | 1,186 SF | 2008 |
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Sale Advisors
Sale Advisors
Bradley Carver, Senior Vice President
Bradley joined Colliers in June 2025 and brings over a decade of leadership experience in the commercial real estate (CRE) auction space. Prior to Colliers, he served as Managing Director at Ten-X, one of the largest online marketplaces for CRE transactions, where he was instrumental in executing over $2 billion in CRE and note sales.
At Colliers, Bradley leverages his extensive industry experience, strong professional network, and hands-on knowledge of property marketing and disposition, particularly with opportunistic and income-producing assets. Known for his service-oriented mindset, proven track record, and deep passion for the auction space, he delivers strategic, high-impact marketing solutions designed to maximize asset exposure.
At Colliers, Bradley leverages his extensive industry experience, strong professional network, and hands-on knowledge of property marketing and disposition, particularly with opportunistic and income-producing assets. Known for his service-oriented mindset, proven track record, and deep passion for the auction space, he delivers strategic, high-impact marketing solutions designed to maximize asset exposure.
Matt Terrace, Senior Vice President- Investments
For close to a decade Matt has completely immersed himself in many different aspects of commercial real estate, from retail to development to construction to acquisitions and dispositions, but specializes in Commercial Investment Dispositions and Acquisitions. Matt was exposed to the industry at a young age as it is a family passion handed down through generations. Matt has served both private and institutional clients such as Garrison Investment Group, True North Investments, LNR Partners, Integris Ventures and Alidade Capital. He has also worked with a number of national Tenants in the market including Pet Supplies Plus, Czarnowski and Nuance Communications. Matt’s successful approach stems from the ideology of fully comprehending his client’s needs and consistently putting them first.
Jonathan Katz, Senior Vice President
Jonathan joined Colliers in May of 2025 after serving as a Managing Director for Ten-X, one of the largest CRE online marketplaces. He entered the commercial real estate industry in 2012 as a Client Manager for Auction.com, which later rebranded to Ten-X. There, he quickly developed a deep understanding of the CRE Auction process and online marketplace dynamics. His career advanced as a Senior Sales Director, where he spent over a decade helping Ten-X become a leader in the CRE auction space. Having facilitated over $2B of CRE and Note sales, he brings his leadership and distinct knowledge to help grow Colliers’ presence in the CRE Auction industry.
Barry Swatsenbarg, Executive Vice President
In 2015, Barry joined Colliers International to expand the Colliers Detroit office reach with his investment sales expertise. He is consistently in the top 200 nationally for Colliers. Barry has been an active investment sales agent for over 24 years, transacted on over 500 deals; 15,000 apartment units and more than 30M SF of commercial assets. Barry has been awarded Everest Club at Colliers for the last several years. (The Everest Club recognizes the top 10% of producers and is Colliers highest award.)
Through his activity with the valuation and disposition of value-add and stabilized, income producing properties, he has successfully worked through periods of economic growth and contraction. He has an extensive history of producing sale results with outside of the box solutions to maximize value.
Over the years, Barry has transacted on hundreds of complicated dispositions, that included receivership, lender debt, REO and stabilized assets. He operates exclusively as a sell-side broker, with transactions spreading across all major investment commercial real estate property types. He has navigated through multitudes of unique and complex scenarios.
Barry is regarded as a highly trusted and well-connected industry expert. He is called upon by financial institutions, private clients and peers alike, for his candid market insight and ability to create effective asset management plans for disposition to aid clients with their ongoing business planning. The results maximize value; regardless of the quality of the asset.
Through his activity with the valuation and disposition of value-add and stabilized, income producing properties, he has successfully worked through periods of economic growth and contraction. He has an extensive history of producing sale results with outside of the box solutions to maximize value.
Over the years, Barry has transacted on hundreds of complicated dispositions, that included receivership, lender debt, REO and stabilized assets. He operates exclusively as a sell-side broker, with transactions spreading across all major investment commercial real estate property types. He has navigated through multitudes of unique and complex scenarios.
Barry is regarded as a highly trusted and well-connected industry expert. He is called upon by financial institutions, private clients and peers alike, for his candid market insight and ability to create effective asset management plans for disposition to aid clients with their ongoing business planning. The results maximize value; regardless of the quality of the asset.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Jameson Kuykendall
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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