Medical Trends of 2024 – January Update

Medical Trends of 2024 – January Update

According to healthcare experts at Becker’s Hospital Review, there will be an increasing nationwide doctor shortage due to fewer doctors entering the workforce as in previous years.

As demand for physicians continues to outpace supply, we believe there will be noticeable effects on medical real estate.

To improve doctor’s efficiency, medical office needs to be more easily accessible in order for doctors to increase productivity among their patients, and often aging patient populations.

Due to these current trends, accessible medical officing is crucial now more than ever.

Refer to our Medical Space Office Calculator to find the square footage your practice requires. Another resource you can review is our Leasing vs. Building Your Own blog, to review pros and cons of leasing a space and buying your own medical office.

What’s inside:

  • Medical trends 2024
  • Featured properties
  • Tenant representation
  • Free analysis

Featured Medical Property

2000 McDonald Road
South Elgin, Illinois

Located in close proximity to Northwestern Delnor Hospital and Advocate Sherman Hospital, this fully built-out medical office encompassing the entire first floor is an ideal space for urgent care, surgery center, physical therapy, or large medical practice.

With a private staff entry, the facility offers over 20 exam rooms/private offices, including specialized features such as an imaging room equipped with x-ray tech booth power and infrastructure for a CT scan.

The office is strategically designed with infrastructure in place for complete urgent care services, encompassing triage, CT scans, X-rays, and mammography. Additional amenities include a large break room with a kitchenette, a dedicated locker room, and a generous nursing area with multiple desks.

The space also features a waiting room, reception area, and multiple restrooms for both staff and patients. An open area is also provided for physical therapy. The property is further enhanced by covered patient drop-off, a separate area for ambulance drop-off/pickup, ample parking, and monument signage, and conveniently located just off Randall Road.

Contact info

Featured Medical Property

7600 College Drive
Palos Heights, Illinois

Under new ownership and offering flexible lease terms, this property is less than a mile from the 436-bed Northwestern Medicine Palos Hospital.

Tenants benefit from a generous tenant improvement allowance for buildouts, and the inclusion of a common waiting area helps save on in-suite square footage.

The facility features a whole-building backup generator, ensuring continuous operation. With two elevators designed to best accommodate patients and physicians, the property prioritizes accessibility. Premium co-tenants and a first-floor pharmacy contribute to generating heavy patient traffic.

Additionally, the property boasts abundant medical parking at a rate of 5.9 spaces per 1,000 square feet. Common area maintenance (CAM) charges encompass in-suite electricity and janitorial services, adding to the overall convenience for medical tenants.

Contact info

Featured Medical Property

998 Corporate Blvd.
Aurora, Illinois

This property is a former special needs school and residence, fully-built out and approximately 50,000sf.

Located in a business park and near the four-way interchange of I-88 and Farnsworth in Aurora, it offers convenient access.

The property is also in close proximity to the newly approved $350 million Aurora casino/resort/convention center and the popular Aurora Chicago Premium Outlets.

With versatile potential, the site lends itself to potential repurposing for medical, manufacturing, distribution, or office use, with the added advantage of providing outside storage space for trucks and equipment.

Contact info

Tenant Representation

All healthcare practices can benefit from having a medical tenant representation broker, including start-ups, established practices, multi-location practices, and sole practitioners.

We will advocate on your behalf and perform a market evaluation, site selection, lease analysis, and financial analysis based on your requirements, walking you through the process each step of the way.

With our experience in negotiations on purchases, new leases, and lease renewals, you can focus on your practice instead of the details of the real estate process. With over 50 years of combined experience, we will save you time and money, and best of all in any lease we get paid by the landlord so our services are completely free to you and your practice.

Free Analysis for Owners

At no cost or obligation, we would be happy to provide a custom market report tailored to your property, so you can see what is on the market and whether you want to lease or sell. See what’s out there for lease. See what your property is worth.

Contact Us

We look forward to hearing from you! Consider us a resource for market knowledge related to your commercial real estate needs. Call us with any questions or use this form to request information.

Happy New Year!