Property details
Bannockburn, ILlinois
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.
