REIT Buys Oak Lawn Medical Center in Oak Lawn, IL for $10.3M

American Realty Capital Healthcare Trust II, Inc. has finalized the prerequisite conditions to acquire the Oak Lawn Medical Center located in Oak Lawn, IL and acquired the fee simple interest in the Property

The contract purchase price was $10.3 million. The seller of the Property was OLMC Partners, LLC.

The Property contains 26,324 rentable square feet and is 100 percent leased to five tenants: Advocate Health and Hospitals Corporation d/b/a Advocate Medical Group; Pulmonary Consultants, S.C.; Hanger Prosthetics & Orthotics, Inc.; Quest Diagnostics LLC; and Adult Primary Care Center.

All five tenants have leases that expire in 2017 and 2018.