Senior Living Investment Brokerage, Inc. recently completed the sale of a 97 bed Skilled Nursing facility located in Crystal Lake, Illinois. The facility, located 55 miles northwest of Chicago, was constructed in 1989 and is , the approximately 33,870 square feet and sits on 3.97 acres. The one story facility was at a 75% occupancy at the time of the sale and sold for $6.5 million, or approximately $67,010 per bed. The purchaser is a regional provider based in the Chicago metropolitan area.
“This sale represents a continuing trend of national providers shedding non-core assets which creates opportunities for local / regional providers. In this instance, the acuity level was not an operational fit, and a performing, high-quality asset became available for a well respected local provider. Our vast network of national buyers made Senior Living Investment Brokerage, Inc. the ideal choice for this national client,” stated Jeff Binder of Senior Living Investment Brokerage, Inc.