ROCKFORD, March 30 — A high-profile downtown location has attracted a growing Chicago-area network of clinics catering to seniors.
Oak Street Health, which tailors care, classes and events to the needs of older adults with Medicare, is expected to open this summer in 12,000 square feet of space at 301 E. State St.
This deal represents a $1.1 million investment to remodel the property and a 15-year lease commitment.
“For our once struggling downtown, this represents another in a string of big wins. Oak Street symbolizes another huge vote of confidence in our city’s core,” said Jeff Kaney, CEO of Kaney Group, LLC, which owns the property. “They will bring in high-paying medical jobs, which further increases the strength and diversity of the downtown Rockford business climate.”
The clinic plans to hire 18 people, including physicians and nurses, in 2015 and double its staff by 2019. Over a five-year period, the company expects to pay $10.6 million in salaries and benefits.
“Oak Street Health is an important development that serves the greater community and fits nicely into our growing downtown revival,” said Michael Nicholas, president of the Rockford Area Economic Development Council. “At the present time, we are seeing more than $90 million being invested in downtown Rockford.”
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