Arbor Center For Eye Care | 2640 W 183rd St
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Arbor Center For Eye Care 2640 W 183rd St
13,297 SF Office Building Homewood, IL 60430 $2,715,308 ($204/SF) 9.25% Cap Rate
Investment Highlights
- Extremely Passive Investment – This long-term single tenant healthcare investment features a landlord friendly lease structure with minimal landlord.
- E-Commerce Resistant Tenant – Healthcare operators aren’t prone to the same competition that many retail tenants face.
- Chicago, MSA – Horsham is 25 miles southwest of Chicago, and part of the Chicago MSA. Chicago is the 3rd largest city in the United States.
- High Visibility Location – The property is on a corner lot at a signalized intersection with multiple points of ingress and egress.
- Recent Practice Acquisition – The practice at this property was purchased by EyeSouth Partners in 2022. They assumed a 5-year lease with options.
- Affluent Area with High Population – The 1-mile average household income in the area surrounding the property is over $99K/year.
Executive Summary
Matthews Healthcare Division is pleased to bring to market a recently extended free standing eyecare facility at 2640 183rd in Homewood, IL just outside of Chicago. Arbor Center for Eyecare (part of EyeSouth Partners) has over 6 years remaining on a recently extended lease with one 5-year renewal option remaining. The lease includes 3% rental increases every year starting January 1st, 2025, to help hedge against inflation.
Arbor Center for Eyecare is strategically located on a signalized corner with a 4-way traffic light at the intersection of 183rd St and Governors HWY. Located kitty corner to other medical users and a Walgreens Pharmacy, the site is in a prime area for medical use and is conveniently located near retail shopping and residential housing. The site has 2 points of ingress egress, excellent visibility at the front of the corner lot, and is situated near the commercial center of the city.
Homewood is located South West of Chicago, approximately 30 minutes from downtown and easily accessible by car, as well as train and bus lines that frequent the city.
Broker of Record
Matthew M. Fitzgerald
License No. 478027547 (IL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Arbor Center for Eyecare is strategically located on a signalized corner with a 4-way traffic light at the intersection of 183rd St and Governors HWY. Located kitty corner to other medical users and a Walgreens Pharmacy, the site is in a prime area for medical use and is conveniently located near retail shopping and residential housing. The site has 2 points of ingress egress, excellent visibility at the front of the corner lot, and is situated near the commercial center of the city.
Homewood is located South West of Chicago, approximately 30 minutes from downtown and easily accessible by car, as well as train and bus lines that frequent the city.
Broker of Record
Matthew M. Fitzgerald
License No. 478027547 (IL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
13,297 SF
Building Class
C
Year Built
1990
Price
$2,715,308
Price Per SF
$204
Cap Rate
9.25%
NOI
$251,166
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
6,649 SF
Building FAR
1.66
Land Acres
0.18 AC
Zoning
R6, Brooklyn (S3)
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $86,452 | |
| Land Assessment | $80,832 | Total Assessment | $167,284 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$80,832
Improvements Assessment
$86,452
Total Assessment
$167,284
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Kyle Mackulak -
Michael Moreno -
Rahul Chhajed -
Matthews Real Estate Investment Services
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Arbor Center For Eye Care | 2640 W 183rd St
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