Chicago & Midwest + Greater Chicagoland + Net Lease | March 11, 2021

French Buyer Snaps Up Oak Street Health Facility

The Boulder Group completed the sale of a single-tenant medical building at 1401 Western Ave. in Chicago Heights, IL for $4,835,629. The 13,943-square-foot medical building is net-leased to Oak Street Health, a Chicago-based network of primary care centers specializing in Medicaid patients.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a private real estate partnership, and the buyer was based in France.

“E-commerce resistant tenants in MSAs like Chicago remain a staple for net lease investors.” said Blankstein, president of The Boulder Group. Goodman, partner with the net lease brokerage, added, “Medical and service based single-tenant assets are in high demand.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).