UI Health Care is expanding its reach to the north.
The school is strengthening its tie to nearby Cedar Rapids by purchasing a building it has leased for several years.
The University of Iowa and UI Health Care are seeking approval from the Iowa Board of Regents to purchase the 37,850-square-foot medical office building, at 411 10th St. SE, in the heart of Cedar Rapids’ downtown district, for $4.25 million. The purchase will be funded by UI Health Care’s earnings and equity.
Building is nearly 50-years-old
UI Health Care already leases 22,200 square feet of the building, or about 60%, operating clinical programs in dermatology, OB/GYN, pediatrics, and an urgent care facility. The rest of the building is owned by a private practitioner on the brink of retirement, allowing UI Health Care to “grow into this additional space,” according to Regent documents…