Office/Medical Opportunity
Office
for Sale
Sale Pending/Contingent
| Catylist Listing ID: |
30748835 |
| Property Subtypes: |
Office Building
|
| Status: |
Pending/Contingent |
| Building Size (RSF): |
12,132 SF
|
| Gross Building Area: |
14,051 SF |
| Gross Land Area: |
1.50 Acres
|
| Sale Price: |
$1,510,000 |
| Unit Price: |
$124.46 PSF |
| Property Use Type: |
Investment, Vacant/Owner-User |
| Class of Space: |
Class B |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
9/26/2022 |
Overview / Comments
Well established medical building currently operating as The Heart Center of Lake County under the Methodist Hospital umbrella. All masonry monument sign, two entry points from Broadway and multiple public and private entries to the building. 14,051 GSF, 12,132 RSF of which 9,692 SF is leased to Methodist Hospital (NN) since 2013 on an annual basis.
West half of the building was recently updated and is configured with reception/waiting area, large nurse's station, nine exam rooms, private physician offices, managerial offices, conference room, breakroom and several restrooms. Common area has two sets of entry doors, waiting area and public restrooms. East half consists of 3,660 SF of Ultrasound and stress/physical testing areas, support offices and is affiliated with the Heart Center. 2,410 +/- SF suite has recently become available and is for lease. Associated licensed broker is a
member of owning entity.
|
Financials
| Finance Data Year |
2015 |
| Real Estate Taxes - Annual($) |
$17,944 (Annual) |
| Tax Value Land |
$428,500 |
| Tax Value Improvements |
$401,800 |
| Assessed Value - Total($) |
$830,300 (Annual) |
| Finance Data Year |
2013 |
| Real Estate Taxes - Annual($) |
$18,623 (Annual) |
| Tax Value Land |
$428,500 |
| Tax Value Improvements |
$412,200 |
| Assessed Value - Total($) |
$840,700 (Annual) |
Additional Details
| Nearest MSA: |
Chicago-Naperville-Elgin |
| County: |
Lake |
| Submarket Type: |
Central Business District |
| Tax ID/APN: |
45-12-04-428-010.000-030 |
| Zoning: |
C-2, COMMUNITY COMMERCIAL |
| Property Visibility: |
Excellent |
| Area Description: |
Main thoroughfare of Merrillville, Broadway, minutes to I-65 interchange via lighted intersection at 61st Avenue. |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Year Built: |
1970 |
| Year Renovated: |
2019 |
| Roof Type: |
Flat |
| Construction/Siding: |
Brick |
| Parking Type: |
Surface |
| Parking Description: |
Parking Ratio; 4.70/1,000 SF |
| Total Parking Spaces: |
66 |
| Heat Type: |
Natural Gas |
| Heat Source: |
Central |
| Air Conditioning: |
Engineered System |
| Internet Access: |
Cable |
| Zoning Description: |
C-2, Community Commercial |
| Lot Frontage: |
200 |
| Lot Depth: |
280 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Legal Description: |
N.200FT. OF S.570FT. OF E.10AC. OF NE.1-4 SE.1-4 S.4 T.35 R.8 1.495AC. |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
9,864 |
60,016 |
155,522 |
| Median Age: |
35.89 |
35.88 |
36.75 |
| Households: |
3,741 |
22,182 |
58,854 |
|
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