1630 Gateway Dr
Sycamore, IL 60178
Hauser-Ross Eye Institute & Surgery Center · Office Property For Sale

This state-of-the-art, single-tenant medical office building and surgery center was recently constructed in 2015 and occupies 36,100 square feet. Fully occupied by EyeCare Services Partners ("ESP") doing business as Hauser-Ross Eye Institute, the tenant operates under an absolute triple net (Abs. NNN) lease spanning 20 years with 2.50 percent annual rent escalations. This practice location maintains a valid Certificate of Need. The subject eye care facility houses an optical shop, four surgical suites, 12 recovery rooms, three laser rooms, a room dedicated to Laser Cataract Surgery, as well as laboratories, pharmacy, offices and a cafeteria. There is also a cosmetic surgery and WaveLight laser eye surgery system in the 8,013 square feet surgery center. The Institute has the region's only blade-free laser for cataract surgery. KishHealth System/Northwestern Medicine exclusively refers all eye patients in the area to the institute. Based in Dallas, Texas, ESP is the nation’s largest vertically integrated ophthalmologic services company. ESP’s affiliated ophthalmologists and optometrists serve communities in seven states and twelve markets. Since its founding in May 2014, ESP has affiliated with over 20 practices which includes 109 MDs, 82 ODs, 10 CRNAs and 12 ambulatory surgery centers. Harvest Partners, LP a New York-based private equity firm, and Varsity Healthcare Partners, a healthcare-focused private equity firm, completed a recapitalization of ESP in 2017. Harvest has acquired Varsity’s majority ownership interest in the company which is consolidating ophthalmologic and optometric practices and ambulatory surgery centers that are locally dominant and clinically differentiated, according to the group’s website. The subject property is located next to the Convenient Care at KishHealth System hospital clinic and down the street from the Kishwaukee Community Hospital and on the KishHealth System/Northwestern Medicine Medical Campus. Sycamore is part of Chicago MSA and is 64 miles west of Chicago downtown. Sycamore is in Dekalb County, which had a population of 101,1560 as of the 2010 census. Dekalb County is part of the Chicago MSA with over 9.5 million people. Located on I-88 in the center of the I-39 Corridor.