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PALOS HEIGHTS, IL-The Southwest Highway Physicians Center has been sold to Vision Realty Partners for $1.875 million, or $77.32 per sf. High Technologies, Inc. bought the property in 1995 for $1.425 million, according to property records.

The building generated interest from multiple bidders, reports Sperry Van Ness broker Ray Zabielski, who represented High Technology Inc. The property at 11824 Southwest Hwy., near Palos Hospital, was 95% leased at the time of the sale, Zabielski says, and Vision Realty Partners has hired Dan Development Ltd. to market the remaining space at $25 per sf.

Vacancy in this southwest suburb is less than 4%, brokers report.

“The buyer, a Chicago area investment group looking to expand its investments into the medical field, was able to secure an excellent property with good cash flow at an attractive price,” Zabielski adds.

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