Harrison Street RE buys Tinley Park medical center

Investment firm Harrison Street Real Estate bought a suburban medical center in Tinley Park, expanding its portfolio that targets similar properties, along with student and senior housing and self storage.

DuPage Medical Group sold the 18-year-old building at 17495 South LaGrange Road. The sale price was $29.5 million.

The medical group bought the building in 2016 for $16.3 million. It was formerly home to Pronger Smith Medical Care, which the DuPage group acquired in 2015.

A spokesperson for DuPage Medical Group declined comment on the transaction other than to say the group will continue to provide care at the location. A Harrison Street spokesperson did not immediately respond to requests for comment.

DuPage Medical Group has more than 100 locations throughout the suburbs.

Colliers last week bought a 75 percent stake in Chicago-based Harrison Street for at least $450 million. Founded in 2005, Harrison Street has some $14.6 billion in assets under management, and has acquired or developed 822 properties, according to its website.