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Heartland Dental - Antioch, IL 421 E Il Route 173 4,129 SF Office Building Antioch, IL 60002 $1,893,000 ($458.46/SF) 7% Cap Rate
Investment Highlights
- NATION’S LARGEST DENTAL SUPPORT ORGANIZATION
- LAKE COUNTY, IL - AFFLUENT CHICAGO-AREA SUBURB
- PREMIER ROUTE 173 COMMERCIAL CORRIDOR
- INDUSTRY-LEADING SCALE & MARKET POSITION
- 100,000-PERSON CROSS-BORDER TRADE AREA
- CHICAGO-MILWAUKEE CONNECTIVITY
Executive Summary
Atlantic Capital Partners has been exclusively engaged to offer for sale Heartland Dental, a 4,129-square-foot net leased medical asset located at 421 East Illinois Route 173 in
Antioch, Illinois. The property is leased to Heartland Dental, LLC, the nation’s largest dental support organization, under a corporate-guaranteed NN lease with approximately 6.1 years of remaining primary term. The lease features attractive 10% rental increases every five years throughout the primary term and renewal options, providing investors with contractual income growth and long-term cash flow visibility. Constructed in 2007 as a purpose-built dental facility, the property occupies a highly visible signalized corner position along Illinois Route 173, Antioch’s premier commercial corridor. The asset benefits from strong surrounding retail fundamentals, including nearby Walmart Supercenter, Aldi, Culver’s, Jersey Mike’s, Arby’s, Chase Bank, Menards, O’Reilly Auto Parts, and numerous national retailers that drive consistent consumer traffic to the corridor. Located in northern Lake County near the Illinois-Wisconsin border, Antioch serves as a major retail and service hub for a cross-border trade area encompassing approximately 100,000 residents. Positioned roughly midway between Chicago and Milwaukee, the community benefits from affluent demographics, median household incomes exceeding $130,000, strong commuter connectivity, and ongoing residential and commercial development. Heartland Dental offers investors the opportunity to acquire a well-located healthcare asset leased to an industry-leading operator in one of the Chicago metropolitan area’s most stable and affluent suburban markets.
Antioch, Illinois. The property is leased to Heartland Dental, LLC, the nation’s largest dental support organization, under a corporate-guaranteed NN lease with approximately 6.1 years of remaining primary term. The lease features attractive 10% rental increases every five years throughout the primary term and renewal options, providing investors with contractual income growth and long-term cash flow visibility. Constructed in 2007 as a purpose-built dental facility, the property occupies a highly visible signalized corner position along Illinois Route 173, Antioch’s premier commercial corridor. The asset benefits from strong surrounding retail fundamentals, including nearby Walmart Supercenter, Aldi, Culver’s, Jersey Mike’s, Arby’s, Chase Bank, Menards, O’Reilly Auto Parts, and numerous national retailers that drive consistent consumer traffic to the corridor. Located in northern Lake County near the Illinois-Wisconsin border, Antioch serves as a major retail and service hub for a cross-border trade area encompassing approximately 100,000 residents. Positioned roughly midway between Chicago and Milwaukee, the community benefits from affluent demographics, median household incomes exceeding $130,000, strong commuter connectivity, and ongoing residential and commercial development. Heartland Dental offers investors the opportunity to acquire a well-located healthcare asset leased to an industry-leading operator in one of the Chicago metropolitan area’s most stable and affluent suburban markets.
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Office
Property Subtype
Medical
Building Size
4,129 SF
Building Class
B
Year Built
2007
Price
$1,893,000
Price Per SF
$458.46
Cap Rate
7%
NOI
$132,480
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,129 SF
Building FAR
0.09
Lot Size
1.04 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Heartland Dental
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- -
- -
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| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Heartland Dental | - | - | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 02-16-201-003 | Improvements Assessment | $243,382 |
| Land Assessment | $260,718 | Total Assessment | $504,100 |
Property Taxes
Parcel Number
02-16-201-003
Land Assessment
$260,718
Improvements Assessment
$243,382
Total Assessment
$504,100
Contacts
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David Hoppe -
Eric Suffoletto -
Ben Olmstead -
Mike Lucier -
Kendra Doherty -
Atlantic Capital Partners
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