Hospital-Adjacent Medical Office
For Sale
Contact for pricing
Pending
1001 W Wellington Ave, Chicago, IL 60657
Assumable, non-recourse loan with 6.7 years term and 3.85% interest; positioned directly across from a major medical campus.
Property SizeContact for details
Days on Market150
Property Features for 1001 W Wellington Ave
General Information
Standard status
Pending
Property subtype
Mixed Use, Office, Retail
Listing Agency:
Greenstone Partners
Listed By:
Danny Spitz
(312) 234-0360
Source:
Crexi
Added: Apr 11
Changed: Aug 15
Last Checked: Sep 7 at 1:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Greenstone Partners
Investment Insights
Based on property information with market context.
The property is directly across from Advocate Illinois Masonic Medical Center, a sprawling hospital, teaching hospital, and medical campus. The campus is described as hosting 326 hospital beds, 1,296 physicians, and 766 nurses across 72 specialties, and is currently undergoing a $645 million renovation and expansion with completion targeted for 2030.
The offering includes a favorable assumable loan that is non-recourse, with 6.7 years of term remaining and a 30-year amortization. The debt carries a 3.85% interest rate, and the in-place income and expenses reflect a 2.29 debt service coverage ratio.
Access and transit proximity are emphasized, with the property positioned 200 feet from the Wellington CTA “L” stop and near multiple bus routes less than a quarter-mile away. The location is also noted as having convenient access to five Divvy bicycle stations with 100+ shared bikes, supporting strong day-to-day connectivity for patients and visitors.
The offering includes a favorable assumable loan that is non-recourse, with 6.7 years of term remaining and a 30-year amortization. The debt carries a 3.85% interest rate, and the in-place income and expenses reflect a 2.29 debt service coverage ratio.
Access and transit proximity are emphasized, with the property positioned 200 feet from the Wellington CTA “L” stop and near multiple bus routes less than a quarter-mile away. The location is also noted as having convenient access to five Divvy bicycle stations with 100+ shared bikes, supporting strong day-to-day connectivity for patients and visitors.
Key Highlights
- Directly across from Advocate Illinois Masonic Medical Center with 326 beds and a 1,296‑physician, 766‑nurse medical campus
- Assumable, non‑recourse loan with 6.7 years of term remaining and 30‑year amortization
- Loan rate is 3.85% interest, below current market rates, with a 2.29 debt service coverage ratio based on in‑place income/expenses
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,728
Businesses Nearby
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Business Placement
Demographics for 60657, IL
72,316
Population
42,246
Households
1.7
Avg Household Size
32
Median Age
87%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
32,871
Density / Sq Mi
$109,025
Median Household Income
$77,731
Median Earnings
$1,839
Median Rent
$534,500
Median Home Value
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Assumable, non-recourse loan with 6.7 years term and 3.85% interest; positioned directly across from a major medical campus.
Where is this office building located?
The property is located at 1001 W Wellington Ave Chicago, IL.
What are key features of this property?
This property features: Directly across from Advocate Illinois Masonic Medical Center with 326 beds and a 1,296‑physician, 766‑nurse medical campus; Assumable, non‑recourse loan with 6.7 years of term remaining and 30‑year amortization; Loan rate is 3.85% interest, below current market rates, with a 2.29 debt service coverage ratio based on in‑place income/expenses
