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Inland Purchases 156-Unit Seniors Housing Property in Illinois
Inland Real Estate Acquisitions negotiated and closed the purchase of Clarendale of Mokena, a 156-unit senior living community in Mokena, Illinois, a southwest suburb of Chicago.
Matthew Tice, senior vice president of Inland Acquisitions, with assistance from Brett Smith, VP and associate counsel of The Inland Real Estate Group, LLC, Law Department, completed the transaction on behalf of an Inland affiliate. The community was acquired from a joint venture between LCS and Nuveen Real Estate.
Located at 21536 Wolf Road, Clarendale of Mokena features 60 independent living, 56 assisted living and 40 memory care units. The property is conveniently located one mile from Northwestern Medical Center, Riverside Healthcare and Silver Cross Outpatient Center.
“Our senior living investment strategy centers on acquiring the highest quality opportunities with best-in-class operators,” commented Tice. LCS Community Operations will continue to provide management services for the property. Clarendale of Mokena was 94 percent occupied as of closing.
