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Echo Real Estate Capital Adds Morton Grove MOB
Chicago-based Echo Real Estate Capital, Inc. has acquired a single-tenant medical office building leased to Advocate Health Care for an undisclosed sum. The property measures 7,550 square feet and is located at 6131 W. Dempster St. in Morton Grove, IL, a Chicago suburb approximately 15 miles from downtown.
The facility is staffed by a mix of primary care physicians and one cardiologist that have operated out there for more than 20 years. The medical building is strategically located 3.5 miles east of Advocate’s Lutheran General Hospital, a 645-bed nonprofit teaching hospital.
“Strategically, we remain committed to investing in deals with strong historic tenancy that have the potential to generate attractive returns for our investors, even in uncertain times,” said Oliver Plotkin, Echo Real Estate Capital principal. “Debt and equity markets are a challenge right now, but we have great capital partners that are committed to helping us continue to grow.”
- ◦Sale/Acquisition
