REBusinessOnline

Stan Johnson Co. Arranges $20.6M Sale of Medical Office Building in Itasca, Illinois

ITASCA, ILL. — Stan Johnson Co. has arranged the sale of a 50,000-square-foot medical office building in Itasca, a western suburb of Chicago, for $20.6 million. The Class A property is located at 870 N. Arlington Heights Road. It is fully leased to a publicly traded healthcare services company under a 15-year net lease. The single-story building sits on six acres and includes traditional office space in addition to specialty pharmacy spaces, walk-in freezers and clean rooms. Construction of the property finished in August of this year. John Zimmerman and Craig Tomlinson of Stan Johnson represented the seller, a regional developer. A private group focused on single-tenant acquisitions was the buyer.

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