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Former Independent Living | Redevelopment Opp 150 Fox Ridge Dr 44,497 SF Healthcare Building Online Auction Sale Vincennes, IN 47591
INVESTMENT HIGHLIGHTS
- Fox Ridge Manor, a vacant independent living facility comprising 46 fully operational units, offers an attractive opportunity for seasoned investors.
- Buyers have the chance to continue running as an independent living facility or redevelop the property based on their vision.
- Vincennes is a highly suitable area for independent living, given the projected growth of its population aged 65 and older over the next five years.
- Nestled in a quiet, secluded area, this property can be easily reached from major routes 41 and 50, located just east of downtown.
- Numerous shops and dining options are just a short drive away, such as Culver’s, Lowe’s, McAlister’s Deli, Dollar Tree, Subway, and others.
- Situated on the border of Illinois and Indiana, this area is advantageous because it can attract prospective residents from multiple cities.
EXECUTIVE SUMMARY
Fox Ridge Manor is an exceptional vacant independent living community offering 46 units and 48 beds on 5.54 acres in a desirable residential locale next to Fox Ridge Nature Park. The property boasts meticulously landscaped grounds, private patios, an enclosed courtyard, and a host of well-appointed amenities, including spacious residences, inviting common areas, a salon, library, activity room, and private dining facilities. Originally constructed in 1987 and maintained in excellent condition with all furniture, fixtures, and equipment remaining, the property provides strong operational flexibility. Investors will appreciate the potential to operate it as an independent living facility or adapt the site for alternative high-demand uses such as senior housing, substance abuse rehabilitation, or behavioral health services, making it a compelling addition to any portfolio.
Fox Ridge Manor is strategically located in Vincennes, the proud county seat of Knox County. This vibrant community in the southwest region of the state is steeped in history, boasting a wealth of museums and landmarks. Vincennes is also home to Indiana’s first college, Vincennes University, contributing to a dynamic local atmosphere and ongoing demand for quality housing and services. With a population of approximately 16,500, Vincennes offers a blend of small-town charm and modern convenience. Fox Ridge Manor enjoys a prime position just 4 miles northeast of downtown, placing it within easy reach of major roadways and transportation routes. The property’s proximity to the Illinois and Indiana border further expands its market potential. In addition to its tranquil setting, Fox Ridge Manor benefits from nearby retail, dining, and entertainment options, enhancing the overall appeal for residents and their families. Popular establishments such as Buffalo Wild Wings, Dogwood Barbeque, Dollar Tree, Culver’s, Lowe’s, McAlister’s Deli, and Subway are just a short drive away, ensuring excellent convenience and accessibility to everyday amenities.
Investors will appreciate the combination of strong regional connectivity and local amenities that position Fox Ridge Manor as a compelling opportunity in a growing market.
Property tours are available by appointment only. Please contact the broker to schedule.
Fox Ridge Manor is strategically located in Vincennes, the proud county seat of Knox County. This vibrant community in the southwest region of the state is steeped in history, boasting a wealth of museums and landmarks. Vincennes is also home to Indiana’s first college, Vincennes University, contributing to a dynamic local atmosphere and ongoing demand for quality housing and services. With a population of approximately 16,500, Vincennes offers a blend of small-town charm and modern convenience. Fox Ridge Manor enjoys a prime position just 4 miles northeast of downtown, placing it within easy reach of major roadways and transportation routes. The property’s proximity to the Illinois and Indiana border further expands its market potential. In addition to its tranquil setting, Fox Ridge Manor benefits from nearby retail, dining, and entertainment options, enhancing the overall appeal for residents and their families. Popular establishments such as Buffalo Wild Wings, Dogwood Barbeque, Dollar Tree, Culver’s, Lowe’s, McAlister’s Deli, and Subway are just a short drive away, ensuring excellent convenience and accessibility to everyday amenities.
Investors will appreciate the combination of strong regional connectivity and local amenities that position Fox Ridge Manor as a compelling opportunity in a growing market.
Property tours are available by appointment only. Please contact the broker to schedule.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Purchase Agreement
- Operating and Financial Statements
- Title and Insurance
- Ten-X Auction FAQ
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 5.54 AC |
| Sale Condition | Auction Sale | Building Size | 44,497 SF |
| Type of Ownership | Fee Simple | No. Beds | 48 |
| Property Type | Health Care | No. Stories | 1 |
| Property Subtype | Congregate Senior Housing | Year Built | 1987 |
| Building Class | B | Parcel Number | 42-12-13-200-020.000-023 |
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Health Care |
| Property Subtype | Congregate Senior Housing |
| Building Class | B |
| Lot Size | 5.54 AC |
| Building Size | 44,497 SF |
| No. Beds | 48 |
| No. Stories | 1 |
| Year Built | 1987 |
| Parcel Number | 42-12-13-200-020.000-023 |
ROOM MIX INFORMATION
| DESCRIPTION | NO. BEDS |
|---|---|
| - | 48 |
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SALE ADVISORS
SALE ADVISORS
Lucas Doll, Vice President
Lucas Doll, Vice President, joined SLIB in 2022. He partners with Jeff Binder, Managing Director, focusing his efforts on the Midwestern United States. Prior to joining SLIB, Lucas was a Senior Valuation Associate at CBRE within the National Seniors Housing and Healthcare Team. While at CBRE, Lucas provided valuation and advisory services including third-party valuations, market studies, consulting assignments, and feasibility analyses of single-assets and institutional portfolios.
Lucas earned a BS from Southern Methodist University in Economics with Financial Applications, with a concentration in Econometrics and a minor in Statistics.
Lucas earned a BS from Southern Methodist University in Economics with Financial Applications, with a concentration in Econometrics and a minor in Statistics.
Jeff Binder, Managing Director
Jeff Binder, Managing Director, joined Senior Living Investment Brokerage, Inc. in January 2003. From 1991 to 2002, Jeff was a Senior Associate with a national senior housing appraisal and consulting firm. During that time, he was involved in over 1,100 senior housing appraisal assignments in 39 states.
Jeff has over $1 billion in senior housing transactional experience since joining the firm, which includes the successful completion of well over 100 different seniors housing transactions. Given the complexities of seniors housing transactions, Jeff is actively involved with nearly every phase of the transaction, including coordinating 3rd party reports and vendors, working through contract and asset purchase negotiations, coordinating the CHOW process, as well as working with the clients to coordinate with their debt and equity providers. At Senior Living, a high percentage of clients are also hospital / health systems or faith based non-profit providers. This adds another level of complexity when working through the specific needs of these clients and tailoring a marketing approach and structuring a transaction that will accommodate their mission and objectives.
Jeff has qualified for the National Achievement Award each of the past ten years, was the Chairman’s Club recipient for 2006, and was the President’s Club Recipient in 2007, 2009, 2010, 2011, 2012, and 2013. He has been featured in several publications, including McKnight’s Long Term Care News and Assisted Living Magazine. The Senior Care Investor has also featured Jeff as a panelist on the Webcast “Assisted Living Facilities: Buying, Selling, and Valuing,” and in a video interview in 2012 regarding the state of the Seniors Housing investment market.
Jeff obtained a BA in Business Administration from Westminster College and an MBA in Finance from St. Louis University. He is also a Member of the Appraisal Institute.
Jeff has over $1 billion in senior housing transactional experience since joining the firm, which includes the successful completion of well over 100 different seniors housing transactions. Given the complexities of seniors housing transactions, Jeff is actively involved with nearly every phase of the transaction, including coordinating 3rd party reports and vendors, working through contract and asset purchase negotiations, coordinating the CHOW process, as well as working with the clients to coordinate with their debt and equity providers. At Senior Living, a high percentage of clients are also hospital / health systems or faith based non-profit providers. This adds another level of complexity when working through the specific needs of these clients and tailoring a marketing approach and structuring a transaction that will accommodate their mission and objectives.
Jeff has qualified for the National Achievement Award each of the past ten years, was the Chairman’s Club recipient for 2006, and was the President’s Club Recipient in 2007, 2009, 2010, 2011, 2012, and 2013. He has been featured in several publications, including McKnight’s Long Term Care News and Assisted Living Magazine. The Senior Care Investor has also featured Jeff as a panelist on the Webcast “Assisted Living Facilities: Buying, Selling, and Valuing,” and in a video interview in 2012 regarding the state of the Seniors Housing investment market.
Jeff obtained a BA in Business Administration from Westminster College and an MBA in Finance from St. Louis University. He is also a Member of the Appraisal Institute.
Ryan Saul, Managing Director
Ryan Saul, Managing Director joined Senior Living Investment Brokerage, Inc. in January of 2000. Now Managing Director, Ryan has sold approximately 200 Long-Term Care and Senior Housing facilities and has completed over $2,500,000,000 in transactions across 31 states in his tenure at Senior Living. Accomplishments include Top Listing Agent and Top Selling Agent numerous times. Ryan was recently honored with the prestigious President’s Club Award.
Prior to joining Senior Living, Ryan was a recruitment and business development officer for DuPage County Convalescent Center. He earned a BA in Business Administration and Finance from the University of St. Francis. Ryan and his wife Brenda have three children, Charlie, Henry, and Sadie. They enjoy watching movies, visiting with friends, playing baseball and basketball, fishing, and cheering on the Chicago White Sox.
Prior to joining Senior Living, Ryan was a recruitment and business development officer for DuPage County Convalescent Center. He earned a BA in Business Administration and Finance from the University of St. Francis. Ryan and his wife Brenda have three children, Charlie, Henry, and Sadie. They enjoy watching movies, visiting with friends, playing baseball and basketball, fishing, and cheering on the Chicago White Sox.
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AUCTION CONTACT
Molly Patten
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr RC51500217 Online Auction
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Former Independent Living | Redevelopment Opp | 150 Fox Ridge Dr
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