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Chicago & Midwest  + South Side  + Healthcare  | 

Net Leased Dialysis Center Trades in Washington Heights

The Boulder Group has completed the sale of a single-tenant net leased Fresenius Medical Care property at 9924 So. Vincennes Ave. in Chicago’s Washington Heights for $4,377,898. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate development company. The buyer was a West Coast-based real estate investment firm.

Fresenius’ newly signed lease is for 15 years, and features 10% rental escalations every five years throughout the primary term and three five-year renewal option periods.  The investment grade-rated tenant provides renal services to hundreds of thousands of people through more than 2,200 dialysis facilities nationwide.

“Medical-related properties, featuring long-term leases with multiple rental escalations, continue to be highly sought after among the investor community, as they provide an inflationary hedge,” said Blankstein.


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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).

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