Town Lane Acquires Seniors Housing Property in Suburban Chicago

Town Lane Acquires Seniors Housing Property in Suburban Chicago
News| March 9, 2026| Jasmine Kilman
Chicago & Midwest

Town Lane, in conjunction with Arcole, its senior housing platform, has acquired The Sheridan at Green Oaks, a 198-unit independent living, assisted living, and memory care community in Lake Bluff, Illinois.

The community, which will be re-branded Modena Green Oaks post-acquisition, is situated along Waukegan Road in Lake County, just east of Interstate 94, the main route to downtown Chicago, less than three miles from downtown Lake Bluff, offering proximity to healthcare options, premier golf and country clubs and only five miles from Advocate Condell Medical Center.

The transaction represents Town Lane’s fifth senior housing investment in its inaugural $1.25 billion real estate fund in partnership with Arcole. Solera, an experienced senior housing operator will manage the property post-acquisition. Built in 2016, the community encompasses more than 220,000 square feet on a 17-acre site in Chicago’s North Shore suburban market.

Other News

RK Investors Lands $81M Construction Loan for 299-Unit Charlotte Rental Community

Atlanta & Southeast + Apartment Buildings

An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...

Learn more

Pasadena Offices Sell for Residential Conversion

California & West + Apartment Buildings

NAI Capital Commercial EVPs John S. Archibald and Guillermo Olaiz, alongside senior associate Stephen Lam of the Investment Services Group in the Pasadena office, represented the seller, Star Horizon, LLC, in the sale of ZK Plaza, a 41,586-square-foot office building in Pasadena. The property sold for $13,400,000, representing a 3.5% premium over asking. Located at...

Learn more

Berkadia Negotiates Student Housing Property Sale in Kansas

Chicago & Midwest + Student Housing

Berkadia announced the sale of Orchard Corners & Suites, a 139-unit, 264-bed, garden-style student housing property serving The University of Kansas in Lawrence, Kansas. Berkadia’s Student Housing and Kansas City investment sales teams collaborated to facilitate the transaction on behalf of the seller, Utah-based Redstone Residential. The Berkadia team included Senior Managing Directors Travis Prince...

Learn more
New call-to-action

Brokers

View All

Lenders

View All