JLL Arranges $112M Acquisition Financing for Inland Real Estate's 330-Unit Chicagoland Senior Living Portfolio
JLL Capital Markets has arranged $112 million in acquisition financing from a regional bank on behalf of an affiliate of The Inland Real Estate Group, LLC for the purchase of a two-property senior living portfolio totaling 330 units in Chicago's western suburbs, the firm announced Sept. 8, 2026.
The financing supports Inland's acquisition of Deer Park Village, a 188-unit community in Deer Park, and The Landings, a 142-unit community in Batavia — both offering a full continuum of care spanning independent living, assisted living and memory care. The transaction pushes Inland past $1 billion in total senior living acquisitions, encompassing more than 20 communities.
Deal Structure and Pricing
The portfolio was acquired from Harrison Street Asset Management as part of a broader senior housing disposition program. Inland paid approximately $90.3 million for Deer Park Village and approximately $70.2 million for The Landings, bringing the combined purchase price to roughly $161 million. At that valuation, the $112 million loan represents a loan-to-value ratio in the high-60% to approximately 70% range, consistent with stabilized seniors housing financing. The blended price across the 330-unit portfolio works out to approximately $487,000 per unit.
Joseph Binder, Chief Investment Officer of Inland, said the financing outcome reflected both the firm's track record and current market conditions. "JLL has been a committed partner to our senior living investment strategy and delivered an attractive financing solution for this acquisition that expanded Inland's lending relationships in a capital markets environment where experience and conviction matter," Binder said. "The strong response from market participants reflects the favorable view of Inland's senior housing investment experience and our continued focus on high-quality communities with durable operating fundamentals."
The JLL Seniors Housing Capital Markets team representing the borrower was led by Senior Director Sam Dylag. "We're very pleased to have arranged a new financing relationship in a creative structure for a long-standing client like Inland," Dylag said.
Asset Profile: Deer Park Village and The Landings
Deer Park Village, located at 21840 West Lake Cook Road in Deer Park, IL, opened in 2016 and comprises 188 units — including 96 independent living, 60 assisted living and 32 memory care units. The property was 92% occupied at the time of closing and features amenities including an indoor pool, outdoor deck, dining room, library, fitness center, art studio, salon and wine bar. Its location provides walkable access to upscale retail and proximity to medical facilities.
The Landings, at 2450 W Fabyan Parkway in Batavia, IL, was constructed in 2021 and contains 142 units — comprising 62 independent living, 56 assisted living and 24 memory care studios — across a roughly 6.7-acre site. The property was 95% occupied at closing. Its location along the Fabyan Parkway corridor provides proximity to Northwestern Medicine and a range of retail and restaurant options.
JLL characterized both properties as located in Chicago's western suburbs, which it described as having significant barriers to entry. National seniors housing cap rates have been compressing toward the low-6% range, and occupancies at both assets — in the low-to-mid 90% range — are consistent with broader market trends in Class A, continuum-of-care communities in land-constrained suburban markets.
Operator and Sponsor Background
Dial Senior Living will retain management of both communities following the acquisition. The operator manages more than 3,400 units across 27 communities in six states and has been the steward of both properties.
Inland, founded in 1968, is one of the country's larger vertically integrated commercial real estate investment, finance, development and operating groups. Its acquisitions arm, Inland Real Estate Acquisitions, LLC, led the purchase. The Inland Real Estate Group of Companies spans acquisitions, asset management, property management and operations.
JLL Capital Markets operates as a full-service global provider of capital solutions, with more than 3,000 specialists in offices across nearly 50 countries.
Market Context
The financing comes as institutional appetite for stabilized seniors housing assets in supply-constrained suburban markets remains active. Chicago's western suburbs — where both Deer Park and Batavia are situated — present meaningful barriers to new development, supporting the in-place occupancy levels at both communities. The transaction also reflects continued lender confidence in continuum-of-care assets with established operators, as regional banks have remained active participants in seniors housing debt markets.
Harrison Street's disposition of the two properties was part of a program that included more than $800 million in senior housing sales completed in April 2026 across nine properties in six states, underscoring ongoing portfolio rebalancing activity among institutional owners of seniors housing.
Sources
More Financing
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