How is my Illinois ALE valued?+
Illinois ALEs typically trade at 7–9% cap rates. These ranges are Haven estimates for stabilized assets; your community's rate depends on occupancy, payor mix, building age and survey history. Chicago suburban premium communities (DuPage, Lake counties) compress to 6–7.5%; Springfield, Rockford, and downstate assets trade at 8.5–10.5%. Haven's free BOV gives you an accurate current estimate.
What is the ALE vs. Supportive Living distinction and how does it affect my sale?+
Illinois licenses Assisted Living Establishments (ALEs) and Supportive Living Facilities (SLFs) under different regulatory frameworks. The correct designation affects your valuation, buyer pool, and COO process. Haven ensures sellers understand their facility's classification before going to market.
How long does an Illinois ALE sale take?+
Illinois Department of Public Health (IDPH) change-of-ownership processing typically takes 75–105 days after a complete application. Most senior housing sales close in 90–150 days from engagement. Haven’s general CHOW planning range is 90–180 days; the state-specific estimate on this page controls, and regulator approval is not guaranteed. California RCFE CHOW can take 3–12 months.
Is it a good time to sell my Illinois senior housing community?+
Despite Illinois' economic challenges, quality ALEs are attracting strong buyer interest from institutional investors seeking Midwest exposure. Haven recommends a free BOV to assess your specific situation — the right time to sell depends on your community's performance, not just the macro environment.
Do I need to disclose my intent to sell to my staff?+
Your community is introduced to qualified buyers with an anonymous summary first. The name, financials and licensing details are shared only after a buyer signs an NDA. Staff, residents and families are told only when you decide to tell them, usually around closing.
How does Haven ensure I get the best price for my Illinois community?+
Haven combines accurate market pricing (based on current Illinois cap rates and comparable sales), strategic positioning (presenting your community's strengths to the right buyer profile), and competitive marketing (creating buyer competition where possible) to maximize your final sale price. We also advise on pre-sale operational improvements that can meaningfully increase proceeds before going to market.
How much is my assisted living facility worth in Illinois?+
Most assisted living facilities are valued on stabilized net operating income divided by a market cap rate. Stabilized Illinois senior housing typically trades at 7–9% cap rates. For example, $500,000 of NOI is worth about $7.14 million at a 7.0% cap rate. Haven's Broker Opinion of Value is free and takes 5–7 business days.
Do I need a specialized broker to sell my Illinois assisted living facility?+
No law requires one, but buyers value senior housing on occupancy, NOI, staffing and survey history, not just the real estate. A senior-housing-only broker knows the active buyers and manages the IDPH change of ownership, which keeps the sale on schedule.
What taxes will I owe when I sell?+
Gain on the real estate may be deferred with a 1031 exchange if you reinvest in other real estate. Gain on the business, furniture and equipment is taxable, and equipment depreciation recapture is taxed as ordinary income. This is general information, not tax or legal advice. Talk to your CPA and attorney.
Can I sell the building and keep operating my community?+
Yes. In a sale-leaseback, you sell the real estate to an investor and lease it back, usually on a triple-net lease, while your operating company keeps the license, staff and residents.
