Medical-anchored retail strip center trades for $10.1 million

• JLL Capital Markets arranged the sale of 2830 S. Highland Avenue, a medical-anchored strip center in Lombard, Illinois, for $10.1 million
• Local private capital in a 1031 exchange acquired the property from the joint venture between HSG Medical and Capital Healthcare Properties
• The 21,071-square-foot property is 100% leased to three tenants on triple-net leases
• Duly Health & Care, the Midwest's largest multi-specialty physician group, occupies 67% of the property with a flagship dermatology center featuring MOHS surgery capabilities

CHICAGO, Oct. 21, 2026 – JLL Capital Markets announced today that it has completed the $10.1 million sale of 2830 S. Highland Avenue, a 21,071-square-foot, medical-anchored retail strip center in Lombard, Illinois.

JLL represented the seller, a joint venture between HSG Medical and Capital Healthcare Properties, in the sale of the asset to a local private capital group in a 1031 exchange.

“We’re proud of the transformation of 2830 S. Highland into a high-quality outpatient medical asset,” said Kage Brown, Managing Partner of HSG Medical. “Anchored by Duly Health and Care and Midwest Orthopaedics at Rush, the redevelopment reflects the quality of healthcare tenancy we envisioned from the outset. The project is a great example of adaptive reuse in a strong location, creating a convenient, patient-focused healthcare destination.”

“Strong healthcare real estate outcomes start with understanding the local market and the needs of the providers operating within it,” added Daniel Ahlering, Capital Healthcare Properties. “Our tenant relationships and market knowledge were important to the successful repositioning of 2830 S. Highland, and we are very pleased with the outcome for the property and our partners.”

Built in 2003 and fully renovated in 2026 for the new medical tenancy, the property is 100% occupied through triple-net leases to Duly Health and Care, Midwest Orthopaedics at Rush, and Potbelly Sandwich Works.

The property is positioned at 2830 S. Highland Ave. in the heart of DuPage County, about 20 miles west of Downtown Chicago with convenient access via I-88 and I-355. The community is anchored by Yorktown Center, a 1.2 million-square-foot mixed-use destination drawing over eight million visitors annually, with significant ongoing development, including the Summit at Yorktown and Yorktown Reserve projects adding 700+ luxury residential units.

JLL's Capital Markets Net Lease Advisory team representing the seller was led by Senior Managing Director Alex Sharrin, Senior Director Mohsin Mirza and Associate Will Bowater, with deal support from Managing Director Michael Nieder and Director Brian Page.

"This transaction exemplifies the continued investor demand for medical-anchored net lease assets with institutional-quality tenancy and long-term cash flow visibility," said Sharrin. "The property benefits from over $2.6 million in recent capital improvements by ownership, including a new roof, complete parking lot mill and resurface across 77 spaces, and over $2 million in tenant improvements to deliver best-in-class medical suites for Duly and Midwest Orthopaedics at Rush. Both medical tenants opened in Q2 2026, anchoring the center with substantial patient draw and cementing its position as a premier healthcare destination in one of the Midwest's most affluent submarkets."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

HSG Medical, an affiliate of Chicago-based Hubbard Street Group (“HSG”), was formed to exclusively focus on ground-up development, redevelopment and strategic acquisitions of medical outpatient facilities in strong, supply-constrained markets.  HSG has developed 13.5+ million square feet with an aggregate capitalization of $3.5 billion. Led exclusively by Kage Brown and John McLinden, the principals of HSG Medical bring over 50 years of combined real estate development experience.

Capital Healthcare Properties is a Chicago-based healthcare real estate sponsor focused exclusively on medical ground-up development, adaptive reuse, acquisitions, property management and leasing services.