Oak Street Health Property in Chicago Bought by California Investor
Marcus & Millichap closed the sale of Oak Street Health, a 7,466-square-foot net-leased medical property. The property is located at 6918 W. Archer Avenue in Chicago, Illinois.
Senior managing directors Austin Weisenbeck, Sean Sharko, and associate Daniel Chumbley, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the limited liability company seller. The buyer, a California-based private investor, was secured and represented by senior managing director Jack Hopkins, out of the firm’s Orange County office.
The building was newly renovated with a new roof, exterior, and significant interior renovations for Oak Street Health, which signed a new 20-year triple-net lease. Oak Street Health now has 170 locations in 21 states and is expanding into four other states. Earlier this year, CVS acquired Oak Street Health for $10.6 billion.
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.