Mokena Medical Commons
- Development & Ownership
- Project Management
- Property Management
Purchase Date: December | 2013
Purchase Price: $9 million
Equity: $1.6 million
Sale Price: $12.7 million
Sale Date: December | 2018
- Provided modern and efficient accommodations in a market without new medical office development
- Provided a monetization solution for an OB/GYN physician to sell the land and lease
- Multiple on-building signage opportunities to boost visibility
- Will County location offers a significant real estate tax advantage over properties in neighboring Cook County
Mokena Medical Commons, located in Mokena, Illinois, is a single-story, 32,300 square foot, multi-tenant facility anchored by Women’s Healthcare of Illinois, a leading OB/GYN practice in the region. Located in the heart of growth in the expanding Chicago suburbs, the state-of-the-art facility brings progressive, patient-centered healthcare to greater Chicagoland. In conceptualizing the project, Irgens identified a physician that owned a land site and sought a development partner. Irgens negotiated an agreement to purchase the land site, develop the new medical office building and lease space back to the physician on a long-term basis.
Mokena Medical Commons offers high-quality clinical space and a high-visibility, easily accessible location for South Chicago suburban physicians. Completed on time and within budget, the Class A facility is ideal for primary care providers and ancillary service line expansion.