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Continuum Advisors Facilitates $42M Chicago Senior Housing Sale
Continuum Advisors, a national senior housing investment sales and advisory firm, announced the sale of The Oaks at Bartlett, a 283-unit senior housing community about 35 miles northwest of downtown Chicago.
Built in 2007, the 37-acre interconnected campus offers 10 cottages, 154 independent living apartments, 49 assisted living units, 16 memory care units and 54 skilled nursing units. Continuum Advisors co-founders David Kliewer and Jay Jordan led the transaction, after running an extensive marketing campaign to identify a stalking horse bidder, followed by a court-supervised overbid process.
The community was sold through a court-supervised process with Michael F. Flanagan of Flanagan & Associates, LLC serving as the Receiver. This led to the $42 million sale of The Oaks at Bartlett to a national institutional investor.
“Under new ownership, this sale paves the way for long-term financial stability and new capital to be invested into the campus across common spaces as well as unit upgrades,” said David Kliewer.
