LTC and Anthem expanding in Chicagoland
With four memory care communities already open in the Chicago metro area in the last few years, a joint venture between LTC Properties and Anthem Memory Care is on track to add three more communities in the next year or so. The first project is in Burr Ridge, features 66 units of memory care and will open later this year, with a cost of approximately $12 million, or $181,800 per unit (right around average for assisted living/memory care in Illinois, which is $188,700 per unit, according to our data). Second, LTC just recently closed on 3.5 acres of land in Tinley Park, Illinois for approximately $700,000, on which they plan to construct another 66-unit memory care community. The project,... Read More »Anthem Memory Care to develop multiple locations in suburban Chicago
Anthem Memory Care of Lake Oswego, Oregon, has received approval to develop a new memory-care community in the Village of Burr Ridge, Illinois—the first of several communities the company plans to bring to the suburbs of Chicago. Anthem is also under contract for two additional purchase and sale agreements in Chicagoland—one in Tinley Park and another in Glenview—and is pursuing as many as seven other locations in the area. The 40,000 square-foot Burr Ridge community, with an estimated development cost of $12 million and as yet unnamed, will accommodate up to 76 residents dealing with various levels of Alzheimer’s, dementia, and other forms of memory loss. Upon opening, the new facility is... Read More »Schedule a demo
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