Property details

NorthShore Health

Investment type

Net Lease

Asset Class

Medical

Ownership Structure

Tenancy-In-Common (TIC)

Year Acquired

2012

Investment Summary

The property consists of a 40,800 square foot medical office building leased to NorthShore University HealthSystem in Bannockburn, Illinois.

The property was originally developed in the 1970s as a commercial office building but underwent an extensive renovation in 2002-2003, which converted its use to medical.

Syndicated structured its acquisition as a Tenancy-in-Common (TIC) to accommodate investors completing a Section 1031 Exchange.