MEDICAL OFFICE PROPERTY SELLS FOR $8.7 MILLION

OAK LAWN, ILL. — Chicago-based MedProperties has completed the disposition of Oak Lawn Medical Center, a 26,324-square-foot medical office building located at 10837 S. Cicero Ave. in Oak Lawn. A private equity partnership, including Chicago-based Stage Equity Partners, acquired the property for approximately $8.7 million or $331 per rentable square foot. Built in 2007, the Class A office property is anchored by MidAmerica Cardiovascular Consultants. Ted Rusthoven, Ted Buenger and Gary Fazzio of CB Richard Ellis represented the seller in the transaction.