Medical Office for Sale After Two Years

WAUKEGAN, IL-A 26,612-sf medical office building, a product that has been in high demand in recent months, is on the market in this far north suburb for less than $100 per sf. The two-story building at 1616 Grand Ave., for sale at $2.4 million, is nearly one-third vacant.

The 3.25-acre site allows for 140 parking spaces.

Property records indicate the Physicians and Surgeons Building is being sold two years after it traded for $1.8 million.

Inland Real Estate Sales, Inc. senior broker associate B.J. Taylor notes the property is a mile away west of 300-bed St. Therese Hospital on Sheridan Road. He is marketing the property along with broker associate Karen Runge.

In an unrelated Lake County deal, Worldmark has signed a 6,004-sf lease at 1000 Butterfield Rd. in Vernon Hills. The building owned by Northbrook-based Management Marketing Services offers build-out options, according to Arthur J. Rogers & Co., whose Norman Ross represented both sides of the deal.