1044 S. Whittle Ave is located in Olney, IL.
Marks Sunset Manor is a 49-bed, IL- licensed, sheltered care facility located in Olney, IL (50 mi. west of Vincennes, IN). Marks has been in operation over 50 years. This listing is an estate sale. The property is ~50% occupied, primarily by DD clients referred primarily by the state. Revenue is ~85% public pay and ~15% private pay. Owner has by policy not accepted known violent or sex-offender residents over the last several years. Health services offered are low-level only (oxygen, etc.), although there are 9 staff members, 5 of which are CNA's and one LPN, a maintenance person and cooking staff with sanitation licenses.
The physical facility is a 7600SF former residence that today contains a full commercial kitchen (includes fire suppressant hood), walk-in freezer and separate laundry facility. An 20-bed wing and nurses station was added in mid-1980's. Thus, the property is very functional for the existing use. New steel roof added 2013. Grounds contain other structures, including one potentially used for activites, live-in residence or rental apartment.
Mark's would be a key fill-in acquisition for an existing operator within the west IN/south IL market or perfect for an owner/operator. Because of the nature of clientele, cash flow is very consistent. Offering price, including facility, FF&E and license, represents less than 6 times EBITDA, therefore, is very compelling.
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