HOUSTON, TX - JLL Capital Markets announced today that it has closed the sale of St. Pauls House, a 171-bed skilled nursing and sheltered care community in Chicago, Illinois.
JLL marketed the portfolio exclusively on behalf of the seller, Lutheran Life Communities, and procured the buyer, an experienced operator of long-term care facilities in Illinois.
St. Pauls House was originally built in 1921 with the additions of the East Wing in 1956 and the West Wing in 1970. The community’s 55 sheltered care units are studios averaging 227 square feet and the skilled nursing facility has 96 operational beds. Community amenities include daily housekeeping, a home-like environment with chef-prepared meals, life enrichment programming, 24-hour nursing care and a state-of-the-art rehabilitation therapy gymnasium. The 100,000-square-foot community is situated on 2.38 acres at 3800 N. California Avenue in Chicago’s Irving Park neighborhood to the northwest of downtown.
The JLL Seniors Housing Capital Markets investment advisory team representing the seller was led by Managing Directors Mike Garbers and Cody Tremper.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About Lutheran Life Communities: Lutheran Life Communities owns and operates six communities that serve seniors and their families in Illinois, Indiana and Florida. With origins dating back to 1892, the organization empowers vibrant and grace-filled living with an emphasis on excellence in care through a variety of residential and healthcare options. For more information, visit lutheranlifecommunities.org
About JLL: JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com