Loyola Medicine Burr Ridge outpatient medical center trades for $59.95M in suburban Chicago

BOSTON Oct. 3, 2023 – JLL Capital Markets announced today that it arranged the $59.95 million sale of Loyola Medicine Burr Ridge, an outpatient health center totaling 104,912 square feet in Burr Ridge, Illinois.

JLL represented the seller, Healthcare Realty Trust, and procured the buyer, Sila Realty Trust.

The three-story property was built in 2010 and is fully leased and occupied by Loyola University Medical Center. The Chicago academic medical center is an affiliate of the large national health system, Trinity Health, and is one of the most prominent and highly awarded health systems in Illinois. Loyola Burr Ridge is Loyola’s largest ambulatory care location and is home to the most advanced specialties and services in orthopedics, cancer care, neurology, cardiology, dermatology and more with academic faculty physicians.

Burr Ridge is an affluent village situated just 20 miles southwest of downtown Chicago. The facility is highly visible and accessible at an interchange of Interstate 55 which provides easy access to downtown Chicago. The property benefits from proximity to Loyola Medicine’s two largest hospitals including the flagship 547-bed Loyola University Medical Center and the 374-bed MacNeal hospital, both approximately eight miles from Burr Ridge.

The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Mindy Berman, Senior Directors Sam DiFrancesca and Pat Shields and Analyst Matt Sykes.

“Real estate investors have keen interest in outpatient medical properties with major healthcare providers that offer advanced specialty care to patients close to their homes,” says Berman. “Loyola’s sizeable investment in infrastructure at this location means its tenancy should continue for a long time.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Healthcare Realty is a publicly-traded Real Estate Investment Trust (REIT) that focuses on owning, managing, acquiring and developing outpatient medical facilities throughout the United States. As the first REIT to specialize in medical office buildings, the Company has built a well-regarded medical real estate portfolio affiliated with market-leading healthcare systems.

Sila Realty Trust, Inc. is a public, non-listed real estate investment trust headquartered in Tampa, Florida, that invests in high-quality properties leased to long-term tenants capitalizing on critical and structural economic growth drivers. The Company is primarily focused on investing in healthcare assets across the continuum of care, with an emphasis on lower cost patient settings, which generate predictable, durable and growing income streams. As of June 30, 2023, the Company owned 132 real estate properties and two undeveloped land parcels located in 59 markets across the United States.