HFF secures $5.9M financing for medical office building in Chicago’s Oak Lawn neighborhood

CHICAGO, IL – The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured $5.9 million in financing for the acquisition of Oak Lawn Medical Center, (top left photo)  a 28,000-square-foot, Class A medical office building in Chicago’s Oak Lawn neighborhood.

Working on behalf of Stage Equity Partners, LLC, HFF directors Matthew Schoenfeldt (top right photo)  and Daniel Kaufman  placed the seven-year, 5.89% fixed-rate loan with Wells Fargo Real Estate Group, Inc. Loan proceeds were used to acquire the property.

Oak Lawn Medical Center is located at 10837 South Cicero Avenue close to Advocate Christ Hospital, the Tri-State Tollway and 95th Street, approximately 14 miles southwest of Chicago’s city center in Oak Lawn.

 Completed in 2007, the property is fully leased to multiple tenants including Mid America Cardiovascular Consultants.

“Oak Lawn Medical Center was the first new medical office building constructed in the area in the last 20 years and as a result was fully leased within 15 months of completion,” said Schoenfeldt.

Stage Equity Partners is a Chicago-based, privately-held real estate investment company that specializes in healthcare real estate.

Contacts:

Matthew R. Schoenfeldt, HFF Director, (312) 528-3650, mschoenfeldt@hfflp.com
 Daniel A. Kaufman, HFF Director, (312) 528-3650,dkaufman@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com