Two of the Missner Groups' Medical Buildings Sold

We are pleased to announce the sale of 5540 Touhy Ave, located in Skokie and Park West Medical Building located at 1160 Park Avenue in Highland Park, Illinois. Both of these medical office buildings have been part of The Missner Group real estate portfolio for many years. 

5540 Touhy Ave is a part of Touhy Town Center shopping center conveniently located near the I-94/Touhy exchange. In 2016, The Missner Group completed the $15 million dollar retail redevelopment of what was, at the time, its existing corporate headquarters at 5500-5520 E Touhy Ave. The multi-building development included locations for Goodwill, Panera Bread and Advocate Health Care, among others. 5540 Touhy Ave was sold to AEDC 5540 Touhy, LLC.  

Park West Medical is a development and construction project of the Missner Group completed over 45 years ago. The property was a mainstay of success in the Missner portfolio, averaging over 90% occupied since its completion, in addition to being managed by the Missner Group during that time. The initial construction consisted of specially engineered mechanical, electrical and plumbing systems tailored to meet the requirements of the medical community. The asset has been sold to Crosstown Real Estate Advisors, LLC.  

“We wish them all the success with the property that we have experienced over the years”, stated Glen Missner, President of The Missner Group. 

“My father, Judd Missner, developed Park West Medical Plaza in 1977 as a speculative medical office building, a gutsy move at the time. My dad always told me the project was so difficult during the pre-construction there was a time he would have: given my interest away for nothing’ fortunately, he did not, and the project was completed and became a terrific success.” said Barry Missner, CEO of the Missner Group 

These dispositions served as a wonderful opportunity to deliver returns to investors and continue reshaping the Missner Groups’ portfolio.