CHILLICOTHE, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Legacy & Evergreen Place, a 73-unit assisted living and memory care community in Chillicothe, located along Goose Lake approximately 140 miles southwest of Chicago.
The asset was part of a larger portfolio of skilled nursing facilities. The seller of this building, which is buying the remaining portfolio, elected to carve out this asset because the company specializes in skilled nursing.
The buyer is a Midwest-based owner that built the community in 2015 and was looking to strategically purchase in Illinois. The price was not disclosed.
Ryan Saul handled the transaction for SLIB.
“The buyer, having built the community back in 2015, will do well with this acquisition giving it local attention,” says Saul. “They are utilizing the expertise of the previous operator to continue day-to-day operations. Despite the challenging lending market they were able to utilize a local, relationship lender to complete the acquisition in 50 days.”