480 Central Ave
Northfield, IL 60093
Office Property For Sale

Marcus & Millichap is pleased to offer a rare opportunity to purchase a single-tenant net leased Fresenius Medical Care property located in one of the most affluent communities in the United States, Northfield, Illinois. The village of Northfield is located in the North Shore region of Chicagoland which is comprised of affluent northern suburbs that are near in or bordering Lake Michigan. The average household income within a three-mile radius of the subject property exceeds $206,000 annually. Fresenius is operating under an original 12-year net lease with three, five-year options to renew. Shortly after executing the lease, Fresenius replaced the roof, HVAC units, and parking lot. In addition, Fresenius invested over $1 million into their interior build-out, demonstrating a long-term commitment to the site. The lease carries 2.15 percent annual rent increases, providing an investor with a weighted average return of 6.54 percent throughout the remaining lease term. The property is strategically positioned one-half mile north of the Willow Road exit off of Interstate 94. Interstate 94 is one of the major highways in Illinois, running through the entire northern section of Illinois and into Wisconsin. Adding to its strategic positioning, the Northfield Fresenius is the only freestanding dialysis clinic within a six-mile radius. The State of Illinois is designated a Certificate of Need State, which limits the ability to construct new healthcare facilities.