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Podiatry Practice for Sale - SOLD

Description: This foot & ankle clinic is available as an asset sale purchase.  Assets include office furniture, patient files, inventory, medical equipment, advertising, web sites, cash flow from existing patients, phone number, practice goodwill and covenant not to compete.  The sale of accounts receivable is negotiable.

The main practice is located in a western suburb proximal to the city of Chicago.  The satellite office is located in a suburb northwest of Chicago.

The practice accepts all major insurances and has strong referral sources.  The seller will assist with transferring the active patients and sizable existing patient base to the acquiring physician.  The seller will work with the buyer, including time in the office (if requested), to insure a smooth transition.

The office consists of a centralized waiting area with 18 chairs. The office also contains a private physician’s office, 8 examination rooms, 3 treatment rooms for in office procedures, X-ray room, nurse’s stations and a CLIA approved lab area.  Two lavatories are present for patients and one for staff.  The layout allows for ease of patient flow and efficiency of physician movement.
The satellite office consists of 1,089 square feet.  The office contains 5 treatment rooms, an X-ray room, lab and 2 lavatories.  This office is utilized on Wednesdays with office hours between 2PM and 7PM.  The office is owned by the seller and the building is available for rent or purchase in a separate transaction.  Rent for the satellite office would be $1,600.

Electronic Health Records (EHR) are in place.  The software system is eclinical/Works and the staff is trained on the system.  Insurance claims are transmitted electronically.

Services offered in house include ultrasonography, arthroscopy, laser surgery, X-rays, physical therapy and digital radiography.  Cryo surgery and podiatric surgery services are performed.
Practice/Business Type: Other Medical>Podiatry
Opportunity Type: Practice For Sale
Region: North America
State: IL
City: Chicago Near Western Suburbs

Location Type: Suburban
Property Type: Free Standing Bldg.
FT Doctors: 1
PT Doctors: 0
Support Staff: 4
Exams/Ops/Lanes: 11
Facility Size: 4200 Sq Ft
Seller Assist: Seller can assist buyer with transition
Seller Work: Seller willing to work in practice after closing at buyer discretion

Legal Name: Call for Information
DBA Name: Call for Information
Chicago Near Western Suburbs, IL Confidential
Year Biz Established: 1997
Entity Type: Professional Corporation
Web Site: http://Call for information
Broker Contact OK: Y
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Biz Asking Price:    $770,000     
A/R Amount:    N/A    Included in asking Price: N
FF&E Amount:    $135,000    Included in asking Price: Y
Inventory Amount:    $2,000 (est)    Included in asking Price: Y
Gross Income Current
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Seller Discretionary Earnings Current
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History: This foot & ankle clinic is located in a stand-alone building in a Chicago suburban setting.  The practice was started in 1997.  The practice was moved into its current location in 2001.  The building was renovated and repainted in 2010.  The office consists of 4,200 square feet and offers 10+ parking spots.  The office building is owned by the physician with lease and/or building purchase as a separate opportunity.
Growth Potential: This podiatry practice is located in a growing area of in the western suburbs of Chicago and central, northern Illinois.  The area has average population growth and is under served regarding podiatric services.

Immediate opportunities for growth are present through the expansion of evening and weekend office hours. Other moderate term growth opportunities exist through utilization of the office space to incorporate complimentary medical specialties. 

Reason For Selling: Physician is retiring.

Agent Profile

Medical Practice Brokers, Inc.
Terry Flanagan
7740 Foresthill Lane
Palos Heights, IL 60463
Fax: 708-361-3220

More listings from this agent

Terry Flanagan is our Medical Practice Sales Group affiliate in the Midwest region.


Terry was in practice as a chiropractor for twenty-five years.  During that period he has practiced as a solo practitioner, as a clinic director and as a primary care physician in a multi-specialty medical clinic.  His experience and knowledge of various physician operating structures provides both buyers and sellers with the insight necessary to attain their personal goals. He holds the prestigous Certified Business Intermediary (CBI) designation through the International Business Brokers Association.

Terry is also the owner of Circumference Valuations (, a valuation company providing financial appraisals for professional practices and small to middle market companies.  Terry has taken extensive valuation training through the American Society of Appraisers (ASA), National Association of Certified Valuation Analysts (NACVA) and the Institute of Business Appraisers (IBA).  He is an accredited valuation analyst (AVA) through NACVA and is a Certified Business Appraiser (CBA) through the IBA.  He has extensive expertise in the valuation, negotiation and sales of professional practices.

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