467 E 31St St Chicago, IL 60616

The Bronzeville Health Center is a newly renovated, single-tenant medical facility located at 467 E 31st St, Chicago, IL. The property is leased to Cook County Health with 8.7 years remaining, featuring 2.50% annual rent increases and two, five-year renewal options. Cook County Health has invested $10 million into the facility, which will serve as a family medicine, behavioral health, and rehabilitation service center. The facility will feature 44 exam rooms and is expected to accommodate 85,000 visits in its first year, with opening anticipated at the end of 2024 or the beginning of 2025. Cook County Health serves 300,000 unique patients annually and handles over 1 million outpatient visits per year. The system has an A1 rating from Moody's and A+ from S&P, with a total patient revenue of $2.1 billion and $1.9 billion cash-on-hand. The property is located in Chicago's Bronzeville neighborhood, adjacent to the $3.8 billion Bronzeville Lakefront development, which is set to create 8.2 million square feet of commercial, institutional, and mixed-income housing, potentially generating up to 75,000 jobs. The property is situated in a dense multi-family corridor with over 10,000 units within a 1-mile radius. The Lake Meadows shopping center is located 0.3 miles away, attracting 3 million visitors annually.