Strawberry Fields Pays $15M for IL Skilled Nursing Facility
- Jul 15, 2019
Strawberry Fields continues to expand its footprint in the Midwest. Two months after buying three skilled nursing facilities in Arkansas, the REIT paid $15 million for Landmark of Des Plaines, a skilled nursing facility in Des Plaines, Ill. The 231-bed facility is located at 9300 Ballard Road and features a 10-year lease with Landmark, which will continue to operate the property.
The manager of several Strawberry Fields properties, Landmark became a tenant of Landmark of Des Plaines at the beginning of 2018. The company has successfully increased the facility’s occupancy from 31 to almost 60 percent since then. Services offered at the center include physical, occupational and speech therapy, on-site physician services, nutritional management, pharmaceutical services, dialysis and hospice care services.
The property can be accessed via Interstate 294 and is located in an area home to a hospital, several restaurants, a CVS pharmacy as well as a Jewel-Osco grocery store. O’Hare International Airport is approximately 7 miles away.