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Senior Housing Boom in St. Charles | Real Estate News
Description
Two senior living communities in St. Charles just sold for a combined $74 million, signaling a surge in out-of-state investment in Chicago’s senior housing market. Carroll Tower, once on the brink of foreclosure, was acquired alongside The River Glen, which fetched $40 million to a New York firm after Citrine Investment Group bought it just a year prior for $19 million. This boom reflects strong demand and investor confidence, even amid financial challenges. Citrine, already active in the region with acquisitions in Geneva and Lombard, is betting on value creation through active management. The high transaction volume and strategic buys point to a thriving, rapidly expanding market fueled by growing need and outside capital.
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