single tenant net lease property for sale in the Chicago MSA

1. NET LEASED INVESTMENT OFFERING
Northwestern Memorial Hospital
350 South Waukegan Road
Deerfield, IL 60062 (Chicago MSA)
www.bouldergroup.com

2. TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
TABLE OF CONTENTS
1) Confidentiality & Disclaimer
2) Executive Summary
3) Property Overview
4) Aerial
5) Site Plan
6) Maps
7) Tenant Profile
8) Demographic Comparison Report
9) Location Overview
10) Contact Information
www.bouldergroup.com

3. CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
CONFIDENTIALITY & DISCLAIMER
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be
reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity
without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary,
unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not
made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum
has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify,
any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters
and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
All potential buyers must take appropriate measures to verify all of the information set forth herein.
www.bouldergroup.com

4. EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant medical office property occupied by
Northwestern Memorial Hospital located in the Chicago MSA. The property is located in the prestigious North Shore
community of Deerfield, which is one of the most affluent Chicago suburbs. Northwestern Memorial Hospital relocated
to this build-to-suit property from a mile away to take advantage of a larger modern facility, better visibility and easier
access. Northwestern Memorial Hospital is an investment grade company with a Moody’s credit rating of Aa2. The
property is currently under construction and rent will commence March 11, 2013 under a 15 year primary lease with
annual 2.5% rental escalations.
Northwestern Memorial Hospital is located along Waukegan Road, which experiences traffic counts in excess of 26,100
vehicles per day. Waukegan Road has a direct access interchange with Interstate 94 adjacent to the property. The
property is located in the primary retail trade area adjacent to Deerbrook Mall. Deerbrook Mall retailers include
Jewel-Osco grocery store, Office Max, Bed Bath & Beyond, T.J. Maxx and Sports Authority. Northbrook Court Regional Mall
is located approximately one mile east from the property. Northbrook Court is anchored by Neiman Marcus, Macy’s, Lord
& Taylor and an AMC movie theater.
Deerfield is an affluent community where residents enjoy household incomes in excess of $145,748 within three miles of
the property. There are over 168,000 people living within five miles of the property. Deerfield is centrally located between
many affluent North Shore suburbs, including Glencoe, Highland Park, Northbrook and Winnetka. The North Shore is one
of the wealthiest and most highly educated areas in the Midwest.
The facility will be staffed by Family Practice Physicians, who treat patients for minor injuries, illness and vaccinations.
A dermatology suite will also be located on the first floor, while the second floor will be occupied by internal medicine
physicians.
Northwestern Memorial Hospital is currently under construction and rent will commence March 11, 2013. Northwestern
Memorial Physicians Group’s primary lease term is for 15 years with annual rental escalations of 2.5%. Northwestern
Memorial Hospital is an investment grade company with a Moody’s rating of Aa2.
INVESTMENT HIGHLIGHTS
• Located within the Chicago MSA
• Investment grade medical office tenant (Moody’s Aa2)
• Relocation and expansion from an existing location
• 2.5% annual rental escalations
• Long term lease with 15 years remaining upon rent
commencement
• Located off Interstate 94 exit ramp
• Deerfield is an affluent Chicago suburb with average household
incomes in excess of $145,748 within three miles of the property
www.bouldergroup.com

5. PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
PROPERTY OVERVIEW
Price: $7,151,254
Cap Rate: 5.50%
Net Operating Income: $393,319
Rent Escalations: 2.5% annual
Renewal Options: Two 5-year at FMV
Lease Commencement Date: March 11, 2013
Lease Expiration Date: March 10, 2028 1
Tenant: Northwestern Memorial Hospital
Credit Rating: Aa2 (Moody’s - Investment Grade)
Year Built: 2013
Lease Type: Double Net (Roof & Structure)2
Rentable Square Feet: 16,737
Land Size: 1.87 acres
(1) Tenant has the right to terminate the lease at the last day of the 10th lease year subject
to penalty of approximately $692,000.
(2) Property has a 20 year assumable non-prorated roof warranty.
www.bouldergroup.com

6. AERIAL
NET LEASED INVESTMENT OFFERING
AERIAL
LAKE COOK ROAD
37,900 VPD
S. W 26,
94
AU 100
KE
GA VPD
N
RO
94 AD
49
,30
0V
PD
www.bouldergroup.com

7. SITE PLAN
NET LEASED INVESTMENT OFFERING
SITE PLAN
WA
UK
EG
AN
RO
AD
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8. MAPS
NET LEASED INVESTMENT OFFERING
MAPS
S IT E
S IT E
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9. TENANT PROFILE
NET LEASED INVESTMENT OFFERING
TENANT PROFILE
Northwestern Memorial Physicians Group, the user group occupying the facility, is a primary care medical
group with over 100 physicians in 15 medical offices in the Chicago MSA. These facilities are located in the
neighborhoods of Streeterville, Bucktown, Lincoln Park, the Loop, River North and in the north suburbs.
Physicians at these facilities cover various specialties of internal medicine, obstetrics and gynecology,
pediatrics, dermatology, occupational medicine, integrative medicine, wellness and disease prevention,
executive health and perioperative care.
Northwestern Memorial Hospital is one of the country’s premier academic medical center hospitals. It
is the primary teaching hospital for Northwestern University’s Feinberg School of Medicine. In fiscal year
2010, twelve of Northwestern Memorial Hospital’s medical specialties were ranked in the U.S. News &
World Reports “America’s Best Hospital” issue. Northwestern Memorial HealthCare Corporation contracts
with managed care payers on behalf of the hospital’s medical staff. Northwestern Memorial HealthCare
is the corporate parent of all Northwestern Memorial Hospital, Northwestern Memorial Foundation and
Northwestern Lake Forest Hospital locations.
Northwestern Memorial Physicians Group Website: www.nmpg.com
Northwestern Memorial Hospital Website: www.nmh.org
Headquarters: Chicago, IL
www.bouldergroup.com

10. DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
DEMOGRAPHIC COMPARISON REPORT
Population 1-mi 3-mi 5-mi
Total Population 5,450 72,452 168,271
Total Households 2,030 27,705 62,667
Income
Median Household Income $111,164 $120,146 $104,427
Average Household Income $136,975 $145,748 $132,888
www.bouldergroup.com

11. LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
LOCATION OVERVIEW
Deerfield has long been regarded as one of the premier communities of the North
Shore. Deerfield is a village located within Lake County, Illinois approximately 25
miles north of Chicago, Illinois. At the time of the 2010 U.S. Census, Deerfield had
a population of 18,225 and Lake County had a population of 703,462. Additionally,
a portion of Deerfield Village is in Cook County. People continuously choose to
relocate to Deerfield due, in large part, to the availability of superior elementary schools, middle schools and the
presence of Deerfield High School. Deerfield High School is one of the top high schools in the state, ranking #5
in 2012.
The Village is also home to several Fortune 500 companies, including Walgreens (over 5,000 employees),
Baxter Healthcare, Beam, Consumers Digest, Cosi and Fortune Brands Home & Security. The largest employers
in Deerfield are Walgreens, Baxter International and Takeda Pharmaceuticals. Deerfield is about three miles
west of Lake Michigan and three miles east of Chicago Executive Airport. Chicago O’Hare Airport is located
approximately 15 miles to the southwest, just beyond the I-294 and I-90 intersection.
www.deerfield.il.us
Chicago is the most populous city in the Midwestern United States and the third most populous
city in the United States with 2,700,000 residents. Chicago is the county seat of Cook County,
the second largest county in the United States. The Chicago MSA is the third most populated
metropolitan area in the United States with 9,580,567 residents. The MSA covers over 1,300
square miles and six counties. The Chicago metropolitan area is home to the corporate
headquarters of 57 Fortune 1000 companies, including Boeing, McDonald’s, Motorola,
Discover Financial Services and United Airlines. Chicago is a major hub for industry, telecom-
munications and infrastructure and O’Hare International Airport is the second busiest airport in the world in
terms of traffic movement.
The metro is also a major financial center in North America, and is home to the largest futures exchange in the
United States, the CME Group. Chicago is third in the world on the Global Financial Centers Index which ranks
the competitiveness of financial centers based on people, business environment, market access, infrastructure
and general competitiveness.
www.cityofchicago.org
www.bouldergroup.com

12. CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING
CONTACT INFORMATION
666 Dundee Road, Suite 1801
Northbrook, IL 60062
Randy Blankstein Jimmy Goodman
President Partner
847.562.0003 847.562.8500
rblank@bouldergroup.com jimmy@bouldergroup.com
www.bouldergroup.com