Hoffman Estates Lot Sells for $4M for Future Advocate Healthcare Center
Lee & Associates, one of the largest national commercial real estate providers, negotiated the $4.1 million sale of a 6.5-acre lot located at the southwest corner of Route 59 and Hoffman Boulevard in Hoffman Estates, Illinois.
Rick Scardino, Principal at Lee & Associates, represented the seller, Prairie Pointe Commercial (c/o Conor Commercial). Jacob Dell and Gary Fazio of CBRE represented the buyer, Advocate Health and Hospitals Corp. Advocate Health Care is the largest health system in Illinois, and the company has ten hospitals with more than 400 sites of care.
According to Scardino, “Advocate Health Care plans to build a 36,000-square-foot, single-story outpatient center at an expected cost of $34 million, inclusive of land costs, with potential for an 11,300 square foot future expansion. This development will fulfill a long-sought-out need by Advocate to be present in this strategic corridor.”
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.