Updated Dec 26, 2024
Michael F. Flanagan Of Flanagan & Associates Sells The Oaks At Bartlett For $43 Million
825 Carillon Drive
$43,000,000
Units
283
Asset Type
Senior Housing
Closing
Dec 24, 2024
About this deal
AI
The transaction involved the sale of The Oaks at Bartlett, a senior housing community located at 825 Carillon Drive in Bartlett, Illinois. The community encompasses 37 acres and provides a total of 283 units. The sale price was recorded at $43,000,000, which translates to a price per unit of $151,943.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $43,000,000
- Address: 825 Carillon Drive
- Market: Bartlett
- Acres: 37
- Units: 283
- Price Per Unit: $151,943
- Seller: Michael F. Flanagan - Flanagan & Associates, LLC
- Brokers: David Kliewer & Jay Jordan - Continuum Advisors
Continuum Advisors facilitated the court-supervised sale process following a default on bond obligations. The buyer of the property was a national institutional investor, marking a significant engagement in the senior housing market.
On the Map
$43,000,000
Senior Housing
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Players
Bartlett Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93