May 6, 2024
Suburban Chicago MOB Breaks Ground – What is a Ground Lease?, Robert Khodadadian
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The medical center is taking shape some 30 miles from downtown Chicago. Image courtesy of Skender

Ann & Robert H. Lurie Children’s Hospital of Chicago has broken ground on a 75,000-square-foot outpatient facility in Schaumburg, Ill. The Lurie Children’s Schaumburg Outpatient, Primary Care and Infusion Center will expand the medical provider’s footprint in Chicago’s northwest suburbs.

The development team includes Skender as general contractor, HKS as architect, IMEG Corp. as the structural and mechanical engineers and V3 Cos. as civil engineers. The medical office building is slated for completion in the summer of 2025 and will receive patients by August of the same year.

Upon completion, the property will host 40 exam and treatment rooms and will offer primary care, ancillary and diagnostic services, orthotics and prosthetics, laboratory and pharmacy services, as well as an ambulatory infusion center with the capacity to expand services. The new clinic will replace other smaller Lurie locations in Arlington Heights, Hoffman Estates and Huntley.

Project approval timeline

The Lurie Children’s Hospital first proposed the development back in September 2022, with the Illinois Health Facilities & Services Review Board scheduling a public hearing for later that year. Over the next few months, progress was made, as the Schaumburg trustees were considering the approval of the three-story building in October 2023, according to the Daily Herald. The proposal stipulated that the investment will add to more than $60 million and the future facility could receive 60,000 patient visits in the first year.

The outpatient facility is taking shape on 5.7 acres at 1895 Arbor Glen Blvd., at the northwest corner of Roselle Road and Hillcrest Boulevard. The property will have access to Interstate 90, with downtown Chicago some 30 miles away. Other medical providers in the surrounding area include MedCoa Clinic, NCH Medical Group Primary and Specialty Care and Rapid Immediate Care, among others.

The post Suburban Chicago MOB Breaks Ground appeared first on Commercial Property Executive.

  

In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings.

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