When Edward Health Ventures approached Irgens with its plan to extend its service reach into the expanding western Chicago suburbs, Irgens acted quickly. The firm performed a comprehensive site search along Route 59 and Irgens identified a site, executed a land subdivision and procured all government entitlements. Irgens led the development process by directing a team who designed and constructed the project.
The $6.2 million, 22,000 square foot medical office building opened on August 20, 2012. The build-to-suit and lease project offered primary care services from Edward Medical Group physicians, including walk-in/urgent care, physical and occupational therapy, mammography, ultrasound, X-ray and other specialty physicians. Not only did Irgens deliver an optimal location for the health system’s service delivery with the long-term credit lease, its investors were rewarded with a return on investment exceeding expectations when the building was sold in 2013.
Plainfield, Illinois
22,000 SF
Responsibility
Value Added
Purchase Date: October | 2011
Purchase Price: $6.2 million
Equity: $1.8 million
Sale Price: $8.2 million
Sale Date: June | 2013
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