Project: Chicago Veterinary Specialty & Emergency Hospital
Project Operating Partner: MedVet Medical and Cancer Center for Pets
Location: Chicago, Illinois
Building Size: 65,160 Square Feet
MedVet operates a thriving specialty and emergency practice in the Northwest Chicago neighborhood known as Roscoe Village. The existing practice operates in two buildings with a combined area of 26,252 square feet. MedVet Chicago needed a larger facility for its growing practice and turned to Meridian Veterinary Real Estate for assistance. In short order, Meridian identified several potential existing buildings and vacant land as alternatives within an acceptable proximity to MedVet’s current practice. After evaluating the cost of building a new building in Chicago and the potential cost savings realized in a renovation of an existing building, MedVet elected to pursue the renovation and combination of two existing buildings with a combined area of 65,160 square feet.
Once completed in 2019, the new MedVet Chicago hospital will feature 20 exam rooms, six surgical suites, CT, X-Ray, MRI, wet and dry rehabilitation, and a central lab. The attached MedVet Cancer Center will have six exam rooms and provide medical and radiation oncology treatments.
Meridian provided site selection, design oversight and construction management. In addition, Meridian provided the equity and other financing needed to acquire the property and fund the majority of the renovation costs. MedVet will be the tenant under a long-term primary lease with renewal options