Highland Avenue medical strip sells for $10.1 million

Drivers on Highland Avenue near Butterfield Road now pass a strip center that recently changed hands for $10.1 million. The 21,071-square-foot building at 2830 S. Highland Avenue, built in 2003 and fully renovated this year, is fully leased to medical and restaurant tenants.

JLL Capital Markets announced the sale on Oct. 21. The seller was a joint venture between HSG Medical and Capital Healthcare Properties. The buyer was a local private capital group acquiring the property in a 1031 exchange. Alex Sharrin, Mohsin Mirza, Will Bowater, Michael Nieder and Brian Page of JLL represented the seller.

The property is 100 percent occupied under triple-net leases. Tenants are Duly Health and Care, Midwest Orthopaedics at Rush, and Potbelly Sandwich Works. Duly occupies 67 percent of the space with a flagship dermatology center that includes MOHS surgery capabilities. Both medical tenants opened in the second quarter of 2026.

Ownership invested more than $2.6 million in capital improvements before the sale. Those included a new roof, a full mill and resurface of the parking lot across 77 spaces, and more than $2 million in tenant improvements for the medical suites. Kage Brown, managing partner of HSG Medical, said the redevelopment turned the site into a high-quality outpatient medical asset and a convenient, patient-focused healthcare destination.

Daniel Ahlering of Capital Healthcare Properties noted that tenant relationships and local market knowledge helped reposition the property. Sharrin, of JLL, described the deal as an example of continued investor demand for medical-anchored net-lease assets with institutional-quality tenancy and long-term cash flow visibility. He pointed to the recent capital work and the patient draw from the two medical practices.

The location sits about 20 miles west of downtown Chicago, with access from Interstate 88 and Interstate 355. It is near Yorktown Center, the large mixed-use destination that draws millions of visitors a year. Midwest Orthopaedics at Rush lists a physical therapy location at 2830 S. Highland, Suite B. Duly lists a dermatology suite at the same address.

For neighbors, the practical result is continued local access to specialty medical care and a familiar sandwich shop in a renovated building. The sale keeps the center in local ownership after the joint venture completed its repositioning work. Public records and commercial reporting confirm the $10.1 million price and the 21,071-square-foot size.

What comes next is ordinary operations under the new owner. The triple-net leases mean the tenants continue to handle most operating costs. The medical practices remain open at the address, and Potbelly continues to serve customers from the end unit. The village lists no special actions tied to the transaction on its recent calendars.