Western Medical Office Portfolio

MoHall Commercial proudly presents the Western Medical Portfolio, a rare opportunity to acquire four strategically positioned assets in Chicago's thriving Beverly neighborhood, one of the city’s most historic and desirable communities. This portfolio combines three income-producing medical office buildings and a vacant lot primed for development, offering investors a diverse and high-performing investment package in the rapidly growing healthcare real estate sector. With a blended cap rate of 7.95% and a total net operating income (NOI) of $297,182.23, this portfolio delivers immediate cash flow and future value appreciation in a prime location along the bustling Western Avenue corridor.
11238 S Western Ave anchors the portfolio with a fully leased, two-story masonry medical office building spanning 5,272 square feet. With a cap rate of 8.28% and an NOI of $95,655.45, this property is a standout for its strong tenant roster, including Life Source Pharmacy, Today’s Dental Beverly, and Dr. Theodore James, MD. Modernized exam rooms, private offices, and a welcoming reception area cater to the needs of healthcare providers, while the building’s prominent location ensures high visibility and accessibility for tenants and patients alike.
11240 S Western Ave, a 2,064-square-foot medical office building, offers a compelling owner-user or investor opportunity with a pro forma NOI of $43,344 and a projected cap rate of 8.75%. Listed at $21 per square foot NNN, this property is perfectly suited for healthcare practitioners or professional tenants seeking a customizable, high-traffic space. Situated on a 6,250-square-foot lot, the building’s flexible layout and zoning (B1-1) allow for a range of uses, making it a versatile asset for long-term growth.
11250 S Western Ave, the largest asset in the portfolio, is a fully occupied, multi-tenant medical office building with 7,631 square feet, anchored by Primary Healthcare Associates, a reputable tenant with a long-term lease and annual rent escalations. This property boasts a cap rate of 7.53%, an NOI of $158,182.78, and a proven track record of financial stability. Built in 1964 and meticulously maintained, it offers investors a turnkey asset in a resilient market, providing steady income and minimal risk.
The portfolio also includes a vacant lot at 11222 S Western Ave, a prime 9,361-square-foot development site zoned B1-1, ideal for custom medical or professional office developments. Situated in a high-visibility location with heavy foot and vehicular traffic, this lot presents a rare opportunity for developers to capitalize on the increasing demand for healthcare services in the Beverly area. Its proximity to the I-57 and I-94 expressways, the 111th Street Metra station, and transformative developments like the Obama Presidential Library adds to its long-term investment potential.
The Western Medical Portfolio offers unparalleled access to one of Chicago’s busiest commercial corridors, benefiting from the Beverly neighborhood’s affluent residential base, vibrant community, and growing demand for outpatient medical services. With nearby amenities including top-rated schools, parks, and retail options, this location is highly attractive to both tenants and patients. Investors will appreciate the stability, flexibility, and long-term growth potential this portfolio provides, while healthcare practitioners can secure a presence in a supportive community that values quality care.
For investors seeking a recession-resistant asset class and a foothold in Chicago’s medical real estate market, the Western Medical Portfolio is an unparalleled opportunity. With its strong tenant base, competitive cap rates, and diverse investment options, this portfolio combines immediate returns with future upside potential.
11238 S Western Ave | Fully Leased Medical Office
Sale Price: $1,155,000
Building Size: 5,272 SF
NOI: $95,655.45
Cap Rate: 8.28%
Tenants: Life Source Pharmacy, Today’s Dental Beverly, Dr. Theodore James, MD
Investment Overview: Stable, fully leased medical office with a mix of healthcare professionals. Modernized exam rooms, private offices, and high visibility along Western Avenue.
11240 S Western Ave | Ideal Owner-User or Investment Opportunity
Sale Price: $495,000
Building Size: 2,064 SF
Pro Forma NOI: $43,344
Cap Rate (Projected): 8.75%
Zoning: B1-1 (Ideal for medical or office use)
Investment Overview: Currently vacant and actively marketed for lease at $21/SF NNN, this standalone turnkey medical office is ideal for healthcare practitioners or investors seeking strong rental income.
11250 S Western Ave | Fully Occupied Multi-Tenant Medical Office
Sale Price: $2,100,000
Building Size: 7,631 SF
NOI: $158,182.78
Cap Rate: 7.53%
Tenant: Primary Healthcare Associates (long-term lease)
Investment Overview: A premier, income-generating asset, leased to an established medical provider with annual rent escalations. Perfect for investors seeking long-term stability and high-yield healthcare real estate.
11222 S Western Ave | Development Opportunity
Sale Price: $195,000
Land Size: 9,361 SF (75' x 125')
Zoning: B1-1 (Medical, Office, or Mixed-Use)
Investment Overview: This prime development site is part of the Western Medical Portfolio, offering flexibility for custom medical or professional office space. Located in a high-demand healthcare corridor, this site is a rare opportunity for investors and developers looking to capitalize on the area’s medical demand.