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background-Linden Oaks

Linden Oaks

Front of 21335 N Mill st building

Linden Oaks is a medical office property located in Chicago, IL. The asset is 100% leased through 2031 to Linden Oaks Behavioral Health Outpatient Center and is a mission critical location for the tenant. The long-term lease offers the potential to generate a steady cash-on-cash return for the REIT.

The property is 100% leased to Linden Oaks Hospital on a long term triple-net lease until November 2031 with 2.5% annual rent escalations, potentially generating a steady cash-on-cash return.

The property is well situated in an infill location in Naperville, IL, an affluent suburb of Chicago, approximately 28 miles west of the central business district. Notably, the property is located just a short 10 minute drive from its affiliated hospital, Linden Oaks Behavioral Health, which features 108 beds.

Within a 5-mile radius of the property, median household income is $106,927, or 1.6 times the national median household income of $68,703. The affluent population base translates into a strong payer mix, as more than 75% of individual in the area receive commercial insurance coverage.

Healthcare is the fastest growing sector in the U.S. economy and accounts for nearly one-fifth of the gross domestic product. Healthcare-centric real estate will continue to grow in importance during the coming decades, particularly in light of COVID-19.

 
Richard Kimble, Portfolio Manager
Further information
  • Chicago is the nation’s third largest MSA with a population of over 9 million people and ranked top 5% in terms of distance to and from the nation’s primary hub for interstate highways, rail lines, air routes, and shipping routes.
  • The economy generates gross regional product over $609 billion. The market exhibits high demand, as evidenced by 4.75 million employees in the MSA as well as 34 Fortune 500 Companies’ headquarters and more than 400 corporate headquarters.
  • Reflecting a melding of corporate and entrepreneurial cultures, Chicago has more than 100 startup incubators and accelerators and more than 300 corporate R&D centers.
  • Companies consistently refer to talent as a key driver in their decision to expand in Chicago.
  • Chicago is also home to O’Hare International Airport, the seventh busiest airport in the world, as well as Midway International Airport.

These properties represent select holdings at the time of publication and are not meant to represent the entire portfolio. The opinions expressed are reflective of the manager's views at the time of acquisition.

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