To be known as the Silver Cross Health Center and Professional Building, the two-story southwest suburban medical office is currently about 85% preleased, with delivery of units expected by August.

"This is the first phase of the replacement hospital development and Silver Cross' relocation, and the medical office building is really going to be the pioneer on the site," John Wilson, president of HSA PrimeCare, tells GlobeSt.com. "The new hospital was an attractive reason for people to locate here. Our leasing efforts have secured strong anchor tenants."

Companies who have already signed on for the space include Children¹s Memorial Hospital; Hinsdale Orthopedic Associates; Silver Cross Breast Center; Dr. Tim Kisla, Advanced Eye Care SC; Drs. Garcini, Pierre and Ka-Widmann, Partners in Obstetrics and Women's Health; and Drs. Lelis, Hashmi and Rassouli, Spectrum Eye Institute.

Asking lease rates are around $22 per square foot in the southwest suburbs, where occupancy rates are near 86%, according to Cushman & Wakefield's recent office market report.

"The environment has changed in the last six months since when we started leasing a year ago," Wilson says. "This building has done well, but overall, leasing has slowed somewhat in all projects."

The new 600,000-square-foot, 289-room hospital was designed by RTKL and will be located about three miles east of the century-old existing facility it is replacing. The hospital, which is expected to be completed in the fall of 2011, is being developed on 76 acres at the intersection of US Route 6 and the new Interstate 355 extension.

There are also plans for an six-story, 200,000-square-foot adjoining building, which would connect to the hospital and house some administrative and other departments that don't need to be inside the main building. Campus plans also include a lake at the front of the property, which will retain storm run-off. A bike and walking path will be developed around the lake for use by patients and their families.