Blueprint facilitated the sale of an Illinois skilled nursing and sheltered care facility in Quad Cities on behalf of WellSpire, a joint venture between WesleyLife and Genesis Health System (now MercyOne Genesis). Built in 1968, Illini Restorative Care comprises 120 beds in Silvis, Illinois. It sits on and adjoins the MercyOne Genesis Silvis Medical Center campus. The not-for-profit facility is licensed for 102 skilled nursing beds and 18 sheltered care beds with 30 private rooms and 45 semi-private rooms. With a consistent uptrend in census, the community generated more than $8.0 million in revenue with an approximate 50% quality payor mix.
Blueprint targeted in-state and out-of-state prospective buyers, generating multiple competitive offers. An Illinois-based private investor with a large ownership presence throughout the state was selected as the buyer, along with its in-state operating partner and tenant. Michael Segal, Ben Firestone and Daniel Waldhorn handled the transaction. The purchase price was $5.5 million, or $46,000 per bed.
