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1600 N Randall Rd
Elgin, IL 60123
Office Property For Sale
INVESTMENT HIGHLIGHTS
- Adjacent to Advocate Sherman Hospital
- Major tenants include Derick Dermatology and CDH Delnor Health System
EXECUTIVE SUMMARY
Cushman & Wakefield’s Healthcare Capital Markets is pleased to present this investment opportunity for a premier Class A medical office building located at 1600 N Randall Rd, Elgin, IL (Randall Medical Pavilion). This property spans 95,436 square feet across 6.40 acres and boasts significant potential for value-add investors to enhance occupancy from the current rate of 57% and maximize income potential. The building features a weighted average lease term (WALT) of 4.96 years (weighted average tenure of 9.94 years), with tenants operating under triple net leases and annual rent escalations of 2.50-3.00%.
Strategically positioned in Elgin, IL, a prominent healthcare hub, this property benefits from its close proximity to major medical facilities such as Advocate Sherman Hospital, which is adjacent to the property. Advocate Sherman Hospital is renowned for its advanced trauma center and comprehensive medical services. Additionally, Northwestern Medicine Huntley Hospital, located about 10 miles to the northwest, offers a wide range of specialized medical care including cardiac and oncology services. Another key facility is Amita Health St. Joseph Hospital Elgin, approximately 4 miles to the southeast, known for its excellence in emergency medicine and critical care
Strategically positioned in Elgin, IL, a prominent healthcare hub, this property benefits from its close proximity to major medical facilities such as Advocate Sherman Hospital, which is adjacent to the property. Advocate Sherman Hospital is renowned for its advanced trauma center and comprehensive medical services. Additionally, Northwestern Medicine Huntley Hospital, located about 10 miles to the northwest, offers a wide range of specialized medical care including cardiac and oncology services. Another key facility is Amita Health St. Joseph Hospital Elgin, approximately 4 miles to the southeast, known for its excellence in emergency medicine and critical care
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
95,436 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2009
Percent Leased
58%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
23,859 SF
Slab To Slab
12’
Building FAR
0.34
Lot Size
6.40 AC
Zoning
PORI
Parking
453 Spaces (4.75 Spaces per 1,000 SF Leased)
AMENITIES
- Property Manager on Site
- Security System
- Signage
- Monument Signage
- Air Conditioning
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 03-31-279-004 | Improvements Assessment | $3,032,235 |
| Land Assessment | $1,386,424 | Total Assessment | $4,418,659 |
PROPERTY TAXES
Parcel Number
03-31-279-004
Land Assessment
$1,386,424
Improvements Assessment
$3,032,235
Total Assessment
$4,418,659
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