The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant Springfield Clinic property located at 1000 W Morton Avenue in Jacksonville, IL for $1,342,588.
The 7,000-square-foot building benefits from its location along Morton Avenue, which experiences 17,200 vehicles per day. Notable retailers nearby include Walmart, Home Depot, Hy-Vee, JCPenney, Ollie’s Bargain Outlet, AT&T, Walgreens, Harbor Freight, Goodwill, McDonald’s, Subway, Taco Bell, Wendy’s, Burger King, Starbucks, and Arby’s. The property is located 1 mile from Illinois College, which has over 1,000 students.
Jacksonville is situated 35 miles west of Springfield, the Illinois state capital. The population is 22,286 within a 5-mile radius with an average household income of $82,250.
Springfield Clinic has over 10 years of lease term remaining with three 5-year renewal options. The lease features rental increases every 5 years including 4% in October 2027.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The buyer is a commercial real estate investment firm located in Utah. The seller is a private investor located in New Jersey.
Springfield Clinic is an Illinois-based physician-owned and led healthcare provider that was founded in 1939 and is headquartered in its namesake Springfield, Illinois. Springfield Clinic has over 3,000 employees and 90 facilities throughout Illinois.
“Long-term leases to medical tenants remain attractive investments” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, "Investors continue to gravitate to low-rent medical assets."
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2014-2024, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
More info: www.bouldergroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html