Could there be hope for Hope Creek? A company looking to help sell Rock Island County’s senior home says yes.
Tonight the Rock Island County committee of the whole heard from a real estate investment service. A spokesperson said he wouldn’t have any trouble selling the building, which currently sits $19 million in debt.
“This is a state of the art facility. We would have no trouble selling it,” Marcus & Millichap spokesperson Ray Giannini said.
He said it’s because Hope Creek is decades newer than most other nursing homes. It was built in 2009, while others in the area date back to the 1970s.
County board member Rich Morthland said the last time he heard such a positive message about Hope Creek was the day it opened.
“It was all full of hope back then, but it hasn’t panned out. It just hasn’t worked,” he said. “While we need to divest ourselves of it, boy, it would be really exciting if we could really get a good price and move it swiftly, and this gentleman really seemed to think it was going to happen.”
Right now the county is looking to get $19 million for the facility.
If the board signs a contract with Marcus & Millichap, the company could get up to a 2.5% commission off the sale. If Hope Creek did sell for $19 million, that would add up to about $475,000.
“We want the facility to continue to be successful,” Giannini said. “We want the people who are employed to continue to be employed and that’s generally the case.”
Hearing that the staff would most likely carry over was a relief for Morthland.
“It’s been a real concern that the staff might be displaced. They could lose their jobs,” he said. “We have a very, very loyal, dedicated and hard working staff there.”
Many board members have said they lost sleep over the fate of Hope Creek. Now Morthland said he’s confident in their decision.
“This is the brightest moment that we have had in this county for Hope Creek since we opened the doors,” he said.
Next week the board will vote to whether or not to move forward with this real estate company. If they say yes, there’s a brief waiting period, then Hope Creek will be on the market.