Blueprint is pleased to announce the successful sale of Cottages of Fox Lake, a cash-flowing assisted living and memory care community located in Fox Lake, Illinois, an affluent suburb in northwest Chicagoland.
The community is comprised of four separate cottages, two dedicated to assisted living and two offering specialized memory care, giving residents an intimate, residential-style setting and a continuum of care within a single campus. At the time of sale, the community was well-maintained and well-occupied, generating consistent cash flow, reflecting its strong positioning within an affluent, supply-constrained submarket.
The Seller, an East Coast-based private equity group and repeat Blueprint client, engaged Blueprint to identify options. Blueprint approached a targeted group of the most active owner/operators across Illinois and surrounding states, buyers specifically seeking a cash-flowing community with strong market positioning and embedded value-add potential. The process generated seven competitive written offers, which resulted in meaningful price movement as buyers sharpened their pencils.
The process culminated in a sale to a private equity buyer paired with Charter Senior Living, a national owner/operator with a meaningful presence in Chicagoland, positioning the community for its next phase of operational success. Charter Senior Living has successfully managed this community since 2018, and Blueprint facilitated the introduction between the reputable operator and a growth oriented acquirer to recap out the current owner with a new JV partnership.
This transaction underscores continued investor demand for seniors housing in Chicago submarkets, and reflects Blueprint’s ability to pair the right capital with the right operator to deliver a successful outcome for a repeat client.
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