Hospital-Adjacent Medical Office
1001 W Wellington Ave Chicago, IL 60657
1001 W Wellington Ave, Chicago, IL, 60657
Contact for pricing
For Sale
Contact for pricing
Pending
Assumable, non-recourse loan with 6.7 years term and 3.85% interest; positioned directly across from a major medical campus.
Days on Market103
Property Features for 1001 W Wellington Ave
General Information
- Standard status
- Pending
- Property subtype
- Mixed Use, Office, Retail
Listing agency
Greenstone Partners
(312) 234-0360
Listed by
Danny Spitz · License #IL 475142612
Source
Crexi
Added: Apr 11 Updated: Jul 21 at 7:11PM Checked: Jul 22 at 1:50PM
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
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
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
