REO Sale: Highland Oaks I | Chicago-Suburb Office Asset

$2,000,000 Starting Bid

Auctioneer: Scott Bowers

Auctioneer Company: c/o Fisher Auction Company Inc.

Auctioneer License: 040000273

Brokered by Transwestern and powered by RealINSIGHT Marketplace, Highland Oaks at 1100 W 31st Street is a 101,656 SF, five-story Class B medical office building on 5.75 acres in Downers Grove, Illinois, approximately 25 miles west of downtown Chicago. The property is 68% leased and anchored by Duly Health and Care, which occupies 63,320 SF through July 2031 with no termination rights, scheduled annual rent increases, and two five-year renewal options remaining. Duly is headquartered in Downers Grove and operates more than 150 clinical locations with over 900 physicians. Advocate Health Care, operating as Advocate Good Samaritan, leases an additional 3,920 SF through 2027. The remaining 34,415 SF is vacant across 11 suites ranging from 757 to 7,110 SF, including the entire 21,338 SF fifth floor, providing a buyer with lease-up upside in a building already established as a medical destination. Both tenants hold a right of first offer on vacant space. Built in 1980 by The Opus Corporation, the building features 350 surface parking spaces, three elevators, full wet sprinkler coverage, and on-site property management. The site sits along I-88, which carries approximately 119,600 vehicles per day, with access to Interstate 355 and Metra's BNSF commuter line. The Eastern East-West Corridor currently has no office space under construction.

Duly Health and Care Leases 62% Through 2031

Occupies 63,320 SF with no termination rights, scheduled rent bumps, and two renewal options left.

34,415 SF Vacant Including Full Fifth Floor

Eleven suites from 757 to 7,110 SF, including the entire 21,338 SF fifth floor, available to lease.

Anchor Tenant Headquartered in Downers Grove

Duly employs roughly 4,472 locally and runs 150-plus clinical locations with 900-plus physicians.

Advocate Health Care in Place Through 2027

Advocate Good Samaritan's 3,920 SF lease runs through 2027 with no renewal options remaining.

I-88 Frontage With 119,600 Vehicles Per Day

Sited at Highland Avenue and 31st Street in Downers Grove with access to Interstates 88 and 355.

Zero SF Under Construction in the Submarket

Eastern East-West Corridor has no office space under construction, limiting new competing supply.