Hilco Real Estate announced June 12 as the bid deadline for two assisted living communities, The Courte at Citrus Heights (Citrus Heights, California) and The Landing on Dundee (Wheeling, Illinois). Each community is being sold individually. Bids must be received on or before the deadline of June 12 at 5:00 pm (CT) and must be submitted on the LOI available for review and download from Hilco’s website.
Built in 2016 and zoned Restricted Density Multiple Dwelling, The Courte features 48 memory care units with an occupancy rate of 87%. The community is in a region with a robust healthcare network, as healthcare and social assistance account for 13.7% of Sacramento’s workforce. It is situated near leading medical providers, including Citrus Heights Post Acute (a skilled nursing facility). With access to neighboring medical facilities, there is considerable potential for efficient use and strong revenue growth.
Built in 2019, The Landing comprises 100 assisted living and memory care units. There are 27 private studios, six semi-private studios, eight studios, 54 one-bedroom units and five two-bedroom apartments. With 80% occupancy and Mixed-Use Transitional District zoning, there is the ability to incorporate additional retail or commercial services. Similar to Citrus Heights, Wheeling has a strong healthcare and social assistance sector, making it the second-largest employment industry in the village. There is convenient access to major hospitals in the area.
