Illinois

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AcquisitionsFinanceIllinoisNews

Focus Healthcare Partners Receives Acquisition Financing for 293-Unit Community in Metro Chicago

by Hayden Spiess

BARTLETT, Ill. — Focus Healthcare Partners has received financing for the acquisition and repositioning of Hearthwood Senior Living, a 293-unit senior living community located in Bartlett, roughly 40 miles northwest of downtown Chicago.  Ryan Stoll and Taylor Mokris of BWE arranged the $37 million non-recourse financing on behalf of Focus, which will use the funds to lever its previously all-cash acquisition of the property as well as more than $15 million in capital improvements. Focus plans to refresh the lobby and amenity area and add a bistro, modern theater and new …

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Company NewsIllinoisNewsPeople

Evolve Senior Living Appoints Kristin Elkjer Vice President of Operations

by Hayden Spiess

CHICAGO — Third-party seniors housing management company Evolve Senior Living has appointed Kristin Elkjer vice president of operations. Elkjer, who has more than 15 years of senior living leadership experience, previously served as vice president of operations for Jaybird Senior Living. She has also held the roles of regional director of operations for Great Lakes Management, executive director for The Waters, sales director for StuartCo and social services director for the Good Samaritan Society.  “Evolve is positioning for growth in our target Midwest markets, and we are committed to delivering best-in-class …

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FinanceIllinoisNewsSkilled Nursing

MonticelloAM Provides $68M in Financing for Three Skilled Nursing Facilities in Illinois

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided $68 million in bridge financing for a three-property skilled nursing portfolio located in Illinois.  Loan proceeds will be used the operator of the skilled nursing facilities, which total 746 licensed beds, to refinance existing debt.  Karina Davydov of New York City-based MonticelloAM originated the financing. 

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Company NewsIllinoisNewsPeople

Katie Pitts Joins Charter as Vice President of Marketing 

by Hayden Spiess

NAPERVILLE, Ill. — Katie Pitts has joined owner and operator Charter Senior Living as vice president of marketing.  Pitts brings almost 20 years of experience in the senior living and health care industries. She has previously led marketing and brand strategy for CCRCs in the Midwest and acted as an advisor to multiple senior living organizations.  “Katie’s leadership comes at a pivotal time as we continue to strengthen our marketing capabilities and data-informed strategies,” said Jayne Sallerson, president and COO of Charter Senior Living, in a statement. “Her proven expertise in …

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ArizonaFinanceIllinoisMissouriNewsTennessee

Inland Secures $149M for DST Fund Focused on Senior Living

by Hayden Spiess

OAK BROOK, Ill. — Inland Real Estate Investment Corp. has raised more than $149 million in capital for its private investment offering, National Senior Living Portfolio DST, a Delaware statutory trust sponsored by Inland. Now fully subscribed, the fund has been closed.  The trust currently indirectly owns three senior living communities. Located in Arizona, Missouri and Tennessee, the communities total 635 units. Each of the communities offers independent living, assisted living and memory care. The properties include Clarendale of Chandler in Chandler, Arizona; Clarendale of St. Peters in St. Peters, Missouri; …

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Affordable HousingDevelopmentIllinoisNews

Evergreen Real Estate Group Tops Off 80-Unit Affordable Development in Metro Chicago

by Hayden Spiess

FRANKLIN PARK, Ill. — Evergreen Real Estate Group has topped off Leyden Senior Apartments, an 80-unit independent living development currently underway in Franklin Park, a western suburb of Chicago.  Designed by Weese Langley Klein Architects, Leyden Senior Apartments will feature 72 one-bedroom and eight two-bedroom residences. Units will be reserved for seniors age 62 or older earning at or below 60 percent of the area median income. Pre-leasing is scheduled to begin in spring 2026, with delivery planned for that summer. F.H. Paschen is serving as the project’s general contractor.  Amenities …

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ArizonaCompany NewsIllinoisNewsOklahomaOperations

Grace Management Adds Five Ventas Communities to Operating Portfolio 

by Hayden Spiess

MAPLE GROVE, Minn. — Grace Management Inc. has added five Ventas-owned senior living communities to its operating portfolio.  Previously managed under a triple-net-lease structure by Brookdale Senior Living, the communities include The Hallmark in Chicago; Inspirations of Northbrook in Northbrook, Illinois; Inspirations of Mesa in Mesa, Arizona; Inspirations of Peoria in Peoria, Arizona; and Inspirations of Bartlesville in Bartlesville, Oklahoma. Each of the properties features assisted living residences, with some of the communities offering independent living apartments as well.  Plans for the communities include a multi-million-dollar renovation at The Hallmark in …

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AcquisitionsIllinoisNews

SLIB Arranges $17.5M Sale of Three-Community Portfolio in New Jersey 

by Hayden Spiess

WHEATON, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a portfolio of three assisted living and memory care communities located in Western New Jersey. The sales price was $17.5 million.  Together, the properties total 214 units, with each community comprising roughly 70 units.  Ryan Saul, Toby Siefert and Patrick Burke of Illinois-based SLIB brokered the transaction on behalf of the undisclosed seller. A large regional owner acquired the portfolio, marking its first purchase in the state of New Jersey. 

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DevelopmentIllinoisMemory CareNewsSkilled Nursing

Wold Architects & Engineers Completes Expansion at 120-Bed Skilled Nursing Facility in Illinois

by Hayden Spiess

MCHENRY COUNTY, Ill. — Wold Architects & Engineers has completed an expansion project at Valley Hi Nursing & Rehabilitation in McHenry County Illinois. Wold designed the addition of a new dining room, kitchen and support spaces to accommodate a new memory care unit at the 120-bed skilled nursing facility. Residents rooms were updated with new interior finishes lighting and furnishing, and the project also included a walking path and indoor and outdoor gathering spaces.  McHenry County owns the facility.  “This project is a great example of how design can support both …

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CCRCCompany NewsIllinoisIowaNews

LCS Expands CCRC Portfolio Through Strategic Merger With Vi

by Lynn Peisner

DES MOINES and CHICAGO — LCS, the third largest U.S. seniors housing operator, has entered into a strategic merger agreement to acquire Vi, an operator of 10 luxury continuing care retirement communities (CCRCs) across the country. Headquartered in Chicago, Vi is a hospitality-inspired senior living company with over 3,000 employees serving more than 4,000 residents. Vi’s CCRCs are located in six states: Arizona, California, Colorado, Florida, Illinois and South Carolina. The company was founded in 1987 as Classic Residence by Hyatt by Penny Pritzker and rebranded as Vi in 2010. …

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