15720 Illinois RtePlainfield, IL 60544

For Sale
$3,350,000

Multi-tenant medical office campus, value-add opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a three-building, 25,867 square foot Class B medical office campus situated on a 3.116-acre lot in Plainfield, Illinois. The property, located at 15720 Illinois Route 59, boasts a prime location just south of downtown Plainfield, benefiting from high visibility on a major thoroughfare with over 22,000 vehicles passing daily. Built in 1994 and renovated in 2000, 2002, and 2009, the campus features single-story suites, abundant parking, and covered sidewalks. Currently, the occupancy rate stands at 72.7%, presenting a significant value-add opportunity for an owner-user or investor. The property is zoned B-3 - Highway Business District and includes the APN numbers 06-03-16-404-058-1001, 1002, 1003. The asking price is $3,350,000, translating to $129.51 per square foot. The campus offers excellent signage opportunities, including digital signage and facade signage. Plainfield's robust growth, including significant increases in population and housing permits, makes this a compelling investment in a thriving healthcare market. The University of Chicago Medicine currently occupies nearly 18,000 square feet of the space. Plainfield's projected population increase by 2030 further underscores the potential for future growth and demand for healthcare services. This property offers a unique blend of established tenancy and significant upside potential.

Highlights

  • Well-maintained, single-story medical suites, ideally located 0.5 miles from downtown Plainfield and under 3 miles from I-55.
  • Prominent visibility on IL Route 59 (daily traffic exceeding 22,000 vehicles) with digital and facade signage opportunities.
  • Value-add investment opportunity; owner-occupancy or build-to-suit potential; ~18,000 SF currently occupied by U of Chicago Medicine.
  • Ample parking and covered sidewalks for convenient access.
  • Strong growth potential in Plainfield, with population projected to increase by 6,000-10,000 by 2030, fueled by new housing developments and high median household income ($143,000).

Property Details for 15720 Illinois Rte

Property type
Other office properties, Medical offices
Square Feet
25,867 SF
Class
B
Year Built
1994
Buildings
3
Stories
1
Lot Size (sq. ft)
135,733 SF

Location Insight

City
Plainfield
County
Will
State
Illinois
Latitude
41.596434
Longitude
-88.202711
15720 Illinois Rte, Plainfield, Illinois

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15720 Illinois Rte
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