Evolve at Lake Zurich

JDI entered a joint venture with The Wolcott Group and Evolve Senior Living to acquire Evolve at Lake Zurich. Built in 2017, the Property is a Class A assisted living community in Lake Zurich, Illinois, a northwest suburb of Chicago. With over 176,000 residents within a 15-minute drive and a stable, diverse economy, Lake Zurich serves as a retail hub of the affluent Lake County. The Property includes 120 Assisted Living units and has a Supportive Living Facility (SLF) designation, enabling it to provide care for low-income seniors and individuals with disabilities under Medicaid. The Property is currently 95% occupied and generates significant cash flow with 30% operating margins. With planned enhancements in management and operational efficiencies, along with future access to HUD financing, we are optimistic about the potential for significant value creation.