IPA Brokers Sale of 188-Unit Community in Metro Chicago

by Jeff Shaw

CREST HILL, Ill. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Willow Falls Senior Living, a seniors housing community in Crest Hill, approximately 40 miles southwest of Chicago.

Dial Retirement Communities bought the property for an undisclosed price in a joint venture with a private equity fund. The seller is a pair of entities controlled by Greg and Renee Wolf, owners of the property since 1994.

Dial will operate the community, which consists of 112 assisted living and memory care units and 76 independent living units.

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