FCI was founded in 1985 with a focus on helping families conceive through counseling and treatments for infertility. FCI is the largest private fertility practice in the Midwest, with eight locations throughout the Chicago MSA (FCI closed one location in 2020). Illinois is one of eight states that require health insurance companies to cover fertility treatments. Most FCI patients live in the Chicago metro area, including northwest Indiana and southeast Wisconsin; approximately 8% of patients travel from South America, Asia and Europe for treatment. The Property serves as FCI’s corporate headquarters, as well as a treatment office and its central phlebotomy lab.
The property consists of a 30,264 square-foot clinical medical office and corporate headquarters located on 2.6 acres at 2555 Patriot Boulevard in Glenview, Illinois (the “Property”). The Property is 100% leased to and occupied by Fertility Centers of Illinois (“FCI”). Originally constructed in 2018, the Property was built pursuant to FCI’s specifications. The site was chosen by FCI as a relocation of its headquarters due to its central location amongst the other FCI clinics operating in the surrounding Chicagoland area. FCI occupies the entire 1-story building pursuant to a 15-year, double-net lease that commenced in July 2018 and includes annual 2.50% rent increases. The current lease term expires in December 2033, and FCI has one 7-year lease renewal option at the then-prevailing market rate. The landlord is responsible for repair and replacement of the roof and structure and any replacement of the HVAC system, for which a reserve will be established at closing.