1 E PHLIP RD #102 VERNON HLS Vernon Hills IL 60061

Marcus & Millichap is pleased to present the fee simple ownership of 1 East Phillip Road,

Vernon Hills, Illinois. The subject property is a 9,896-rentable square foot medical office

building ninety percent occupied by three private dental practices. The anchor tenant is

Affiliated Dental Specialist, LTD, who has occupied their suite for over three decades. They

currently have over four years of term remaining. The weighted average lease term of the

three tenants is over three years. All tenants are operating on triple net leases providing

for minimal landlord responsibilities and include annual rent increases as a hedge against

inflationary pressures. The entire roof was replaced in 2019. The additional vacant suite gives a new owner immediate upside

through stabilization.

The property is situated in a fantastic location just off of East Townline Road, one of the main

thoroughfares through Vernon Hills (35,300 VPD). Vernon Hills is a densely populated

and affluent market northwest of downtown Chicago. The current population within ten

miles is over 250,000 earning an average household income of nearly $150,000 per year.

Within two miles of the subject property, local attractions include Target, Walmart, DICK’S

Sporting Goods, Best Buy, Whole Foods, Barnes & Noble, REI, and the Hawthorn Mall.

This property provides investors the opportunity to acquire a net leased medical office

building in a strong northwest Chicago market. The net lease structure is ideal for a “hands

off ” where the tenants are responsible for all aspects of management. Additionally, the

vacant suite provides immediate ability to increase the value once occupied.

• All Triple Net Leases – Minimal Landlord Responsibility

• Annual Rent Increases

• Anchor Tenant has over 30 Years of Operating History

• 2.50 Years WALT

• Heavily Trafficked Thoroughfare Potter Road (35,300 VPD)

• Dense & Affluent Demographics (5 Mile Radius; 250,000 people & $150,000 AHHI)

• Multitude of National Retailers within 2 Miles