April | 2023
Echo Real Estate Capital acquires medical office building in Morton Grove
Echo Real Estate Capital, Inc. has acquired a single-tenant medical office building leased to Advocate Health Care.
The property is 7,550 square feet and is located at 6131 W. Dempster Street in Morton Grove, Illinois, approximately 15 miles from Downtown Chicago.
The facility is staffed by a mix of primary care physicians and one cardiologist that have operated out of the building for over 20 years. The medical building is strategically located 3.5 miles east of Advocate’s Lutheran General Hospital, a 645-bed non-profit teaching hospital and the leading health care provider in Chicago’s North and Northwest suburbs.
“We are very excited about this acquisition, it is a solid building with a thriving practice, and it is in our backyard,” said Echo Real Estate Capital Principal Oliver Plotkin. “Strategically, we remain committed to investing in deals with strong historic tenancy that have the potential to generate attractive returns for our investors, even in uncertain times.” He went on to add, “Debt and equity markets are a challenge right now, but we have great capital partners that are committed to helping us continue to grow. Healthcare is resilient and we are still extremely active.”