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Boston-Based MLL Buys Ravenswood MOB
Boston-based MLL Capital revealed itself as the previously undisclosed buyer of 1945 West Wilson in the North Side’s Ravenswood neighborhood, a $13.85-million deal announced earlier this month by Cushman & Wakefield. It’s MLL’s second recent investment in the Chicago area, having acquired the medical office building at Advocate Sherman Hospital in Elgin, IL in December 2019 as part of a national portfolio expansion.
“This latest acquisition is in line with our goal of building a $500-million portfolio of institutional assets in this sector,” said Wyndsor DePetro, MLL principal. “It meets our criteria to seek well-located properties in areas with strong demographics.”
He added, “With targeted capital improvements, we will rebrand this property as the Ravenswood Medical Center. Over time, we plan to increase the diversity of the tenant roster by attracting world-class medical providers to join the likes of Advocate Children’s Medical Group Pediatrics and others at the property.”
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- ◦Sale/Acquisition
