Blueprint Brokers Sale of Senior Housing Portfolio in Chicago Suburbs

Blueprint Healthcare Real Estate Advisors has negotiated the sale of three value-add senior housing communities in the western suburbs of Chicago.

A national developer and investor engaged Blueprint to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. Ryan Kelly, Connor Doherty, Alex Florea, Lauren Nagle and Brooks Blackmon led the Blueprint team. The buyer was looking to expand their Midwest portfolio into Illinois while maintaining the skilled nursing operations.

Opened between 1994 and 2000, the Chicagoland portfolio consisted of three geographically clustered communities, offering approximately 290 assisted living and memory care units and approximately 40 Medicare-only skilled nursing units. The communities presented a meaningful value-add opportunity, despite some recent capital improvements. Ultimately, the seller elected to divest the communities to preserve liquidity and simplify the portfolio.

Earlier this year, Chicago-based Blueprint expanded its team and product offerings, welcoming industry veterans John Cobb and Philip Kayden to the firm.

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