Inland Real Estate Acquisitions has completed the purchase of Clarendale of Mokena, a senior living community totaling 156 units in Mokena, Illinois, a southwest suburb of Chicago. The acquisition adds a fully operational seniors housing property to Inland’s portfolio in a suburban location with proximity to major healthcare providers.
The transaction was negotiated and closed by Inland Real Estate Acquisitions. Senior vice president Matthew Tice led the effort, working with Brett Smith, vice president and associate counsel in the Law Department of The Inland Real Estate Group, LLC. The deal was executed on behalf of an Inland affiliate, which is now the new owner of the property.
The seller was a joint venture between LCS and Nuveen Real Estate. The sale transfers ownership of the community while maintaining continuity in day-to-day operations, reflecting the existing institutional partnership behind the asset.
Clarendale of Mokena is located at 21536 Wolf Road in Mokena. The community offers a mix of 60 independent living units, 56 assisted living units and 40 memory care units, providing a range of options for seniors with varying levels of care needs. The asset is positioned as a full-service seniors housing property serving residents in the southwest Chicago suburbs.
The location places the community roughly one mile from several medical facilities, including Northwestern Medical Center, Riverside Healthcare and Silver Cross Outpatient Center. This clustering of healthcare services near the property supports access to medical care for residents and is a key locational attribute for seniors housing operators and investors focused on healthcare adjacency.
Tice noted that Inland’s senior living investment approach is focused on acquiring high-quality opportunities aligned with best-in-class operating partners. In line with that strategy, LCS Community Operations will continue to provide management services for Clarendale of Mokena following the change in ownership, preserving operational continuity and brand presence at the property.
At the time of closing, Clarendale of Mokena was reported to be 94 percent occupied. The high occupancy level at acquisition underscores the property’s stabilized status in its local seniors housing market and indicates established demand for independent living, assisted living and memory care services in this Chicago-area suburb.
The transaction highlights ongoing institutional interest in well-leased senior living assets in suburban markets with strong healthcare infrastructure. While specific pricing and terms were not disclosed, the deal structure, with an Inland affiliate as buyer and an LCS and Nuveen Real Estate joint venture as seller, underscores the continued role of experienced seniors housing investors and managers in trading stabilized properties in this asset class.
