Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1}

HEARN Unveils Plans for Medical Office at 875 North Michigan Avenue

Bailey Webb • 2/24/2022

“Building Within a Building” will Deliver Unparalleled Patient Experience; HEARN Selects Cushman & Wakefield to Market “Mag Mile Medical Pavilion,” to Healthcare Tenants

CHICAGO, February 23, 2022 – The Hearn Company will convert four office floors at 875 North Michigan Avenue to accommodate clinical and surgical uses creating the Mag Mile Medical Pavilion, a Class A medical office opportunity. HEARN has selected Cushman 20220216875NMichiganMedLobby750x456 & Wakefield to lease the “building-within-a-building” in the iconic, mixed-use tower overlooking Lake Michigan and the city’s Magnificent Mile.

HEARN plans to invest more than $10 million into converting, initially, floors 28-30 and 33, totaling 130,000 square feet, into a medical office building (MOB) within the 100-story landmark. The Mag Mile Medical Pavilion will have a dedicated valet entrance with patient drop-off and pick-up on the north side of the structure, along with a dedicated elevator bank. Secured heated parking with private elevator access to the medical floors will be available as well. For the new project, HEARN has selected Cushman & Wakefield’s Healthcare Advisory Practice to market the property to prospective tenants, with the leasing team consisting of Karoline Eigel, Matt Sullivan, Lindsey Groom and Jack Seher.

Upon completion, which is slated for Q2 2022, the Mag Mile Medical Pavilion will offer the only Class A healthcare opportunity in a submarket where medical office vacancy is approximately 5%. Additionally, it is immediately adjacent to the Northwestern and Streeterville Healthcare Campuses, a 13.1 million-square-foot medical cluster that is 98.3% occupied and home to Lurie Children’s Hospital, Prentice Women’s Hospital, Northwestern Memorial Hospital, Feinberg School of Medicine, Shirley Ryan AbilityLab and numerous specialty practice groups.

Within a five-mile radius, the population of nearly 750,000 has an average annual income of $133,369, an overall annual healthcare spend of nearly $2.9 billion and a 70% commercial payer mix for healthcare insurance reimbursements.

“We will provide a truly unparalleled patient experience in a market with high tenant demand and demographics that are among the best in the world,” said Stephen G. Hearn, President and CEO of HEARN. “Though 875 North Michigan Avenue is an iconic structure, we’re always looking for ways to innovate and add value, both to the property and our surrounding community. With the Mag Mile Medical Pavilion, we can successfully do both and address the needs of a rapidly growing healthcare sector.”

About Cushman & Wakefield 

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit or follow @CushWake External Link on Twitter.


Get in touch with one of our professionals.

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on  Cookies

More Options
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All