Greenstone Partners announced that it has successfully completed the sale of a property in Naperville, Illinois. The property traded for more than $6 million.
The 55,000-square-foot multi-tenant office and medical outpatient building (MOB) is located in Naperville, Illinois, a suburb of Chicago. The building is anchored by a behavioral health and mental health service practice, Advanced Behavioral Health Services, which occupies the entire third floor and recently expanded and extended its lease through 2029. The tenancy is a diverse and strong mix of medical users and general office. At 86% occupancy, the buyer had the opportunity to acquire a cash-flowing asset with additional upside through the lease-up of 6,600 square feet spread across three units.
Greenstone Partners represented the seller, a large Naperville-based investor. The buyer, a local investor, was represented by an outside broker.
According to data in the LevinPro HC database, this transaction marks the 137th MOB deal announced since the start of 2025, and the 11th MOB deal announced in Illinois this year. There were 213 MOB transactions announced in 2024 (including nine in Illinois), and 199 announced in 2023 (including 11 in Illinois).
