REIT Sale | The Atrium - Former Senior Living Facility

Highlights:

• * Excellent Owner/User opportunity for another senior or assisted living facility
• * Well-maintained Asset with $1.4 million in recent renovations and improvements
• * Great opportunity for an investor to acquire an Asset for repositioning within a well-performing market
• * Located 3 miles from the Javon Bea Hospital – Riverside and Rock Valley College
• * Potential synergy with the nearby hospital system and other medical tenants
• * Located in a strong retail market to serve employees, families, and residents alike

Description:

Colliers, in partnership with Apex Commercial Exchange, is pleased to present for sale the 100 percent fee simple interest in the former senior living facility known as The Atrium (the “Property” or the “Asset”) located at 2885 McFarland Rd, Rockford, IL 61107. Built in 1996, The Atrium is home to
39 units located on 2.2 acres of land.  The Asset has been well-maintained and recently underwent significant renovations and improvements in the amount of $1.4 Million.

The Property represents an excellent opportunity for an investor to come in and reposition the Asset or for an Owner/User to purchase the Asset with the goal of reopening the facility as an assisted living/memory care facility. Furthermore, the Property offers the potential for synergistic relationships with nearby medical tenants. Additionally, the Property but might also benefit from its proximity to multiple nearby churches and Rock Valley College.

The Asset is located less than 3 miles from the Javon Bea Hospital – Riverside. The 563K square foot hospital is conveniently located off of I-90, serving as a regional hub for highly specialized care for children and adults. The 194-bed facility features emergency and trauma services, 24/7 trauma surgeons, adult specialty inpatient and outpatient services, advanced operating and surgery suites, a comprehensive cardiac, vascular, peripheral, and neurovascular interventional laboratory, and a rooftop healing garden and interactive play areas.

Other nearby medical assets and tenants include Camelot Endodontics, OrthoIllinois Spine Center, Rockford Medicine UIC, UW Health | Carbone Cancer Center, and UW Health | Carbone Cancer Center Rockford Radiation Oncology Clinic.

Furthermore, the Asset is located less than 3 miles from Rock Valley College. Founded in 1964, Rock Valley College is a comprehensive, two-year community college offering more than 100 courses for transfer, career programs, and certificates.

The Asset is also well-positioned near numerous major retailers including Woodman’s Food Market, Costco, Blain’s Farm & Fleet, Meijer, Walmart, Sam’s Club, Lowe’s Home Improvement, The Home Depot, Target, ALDI, Kohl’s, Petco, and more. There are also numerous notable fast and fast-causal restaurants nearby including LongHorn Steakhouse, Portillo’s, Outback Steakhouse, Olive Garden, IHOP, Chick-fil-A, Culver’s, and Wendy’s in addition to a wide array of local establishments.

Just over 4 miles south of the Asset sits CherryVale Mall, the largest shopping mall in northern Illinois outside of Suburban Chicago. The 850K square foot, two-story mall features 5 anchor tenants and 140 stores and services.