Northbrook, IL- October 28, 2016 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Athletico Physical Therapy property located at 8905 South Commercial Avenue in Chicago, Illinois for $1,025,000. The Athletico Physical Therapy property is located in a densely populated area with significant barriers to entry.
The 4,535 square foot Athletico Physical Therapy building is located on a corner at the intersection of South Commercial Avenue and 89th Street. The property is benefitted by its proximity to the Advocate Trinity Hospital which is located approximately one mile west. Retailers located in the immediate trade area include Walgreens, CVS, Chase Bank, Bank of America, US Bank, MB Financial Bank and McDonald’s. The surrounding area is densely populated with over 26,000 people living within a one mile radius of the property.
The new Athletico Physical Therapy lease is for ten years and rent is estimated to commence in October 2016. The lease features a 10% rental escalation in the primary term and in each of the two 5-year renewal option periods. Athletico Physical Therapy is in the field of physical therapy, orthopedic rehabilitation, sports medicine and athletic training. Athletico began in Chicago in 1991 and today has over 330 facilities, employs over 4,000 clinical and administrative staff, and offers more than 40 specialty rehabilitation, outreach, and fitness services.