CCN 145688 · Cook County, Illinois
Princeton Rehab & HCC
255 West 69th Street, Chicago, IL 60621
Princeton Rehab & HCC is a 225-bed for-profit nursing home in Chicago, Illinois, first certified for Medicare or Medicaid in 1990. CMS rates it 1 out of 5 stars overall in its September 2026 data, and it averaged 191.1 residents a day, about 85% of its certified beds. It has an active FHA-insured Section 232 loan: $7.8 million originally, at 2.60%, with $7.2 million outstanding as of September 30, 2026 and maturity in August 2061.
Facility facts
- Certified beds
- 225
- Average residents per day
- 191.1 (84.9% of beds)
- Ownership type
- For profit - Corporation
- Certification
- Medicare and Medicaid
- Legal business name
- Alden-Princeton Rehabilitation and Health Care Center, Inc.
- Certified since
- Sep 7, 1990
- Chain or affiliated group
- The Alden Network (27 facilities, chain average 2.8 stars)
- Location
- Urban
Ratings and staffing
Star ratings run from 1 to 5. Staffing is nurse hours per resident per day from CMS Payroll Based Journal data; turnover is the CMS annual nursing staff turnover rate. Occupancy is CMS's average daily census divided by certified beds.
| Measure | This facility | Illinois median | US median |
|---|---|---|---|
| Overall rating | 1 of 5 | State spread: 245 at 1, 112 at 2, 103 at 3, 108 at 4, 93 at 5 | |
| Health inspections | 2 of 5 | ||
| Quality measures | 1 of 5 | ||
| Staffing | 1 of 5 | ||
| Total nurse hours per resident per day | 2.64 | 3.29 | 3.68 |
| RN hours per resident per day | 0.47 | 0.61 | 0.58 |
| Weekend nurse hours per resident per day | 2.37 | ||
| Nursing staff turnover | 47.1% | 43.4% | 44.9% |
| Occupancy (residents / beds) | 84.9% | 76.8% | 85.7% |
| Fines reported by CMS | 1 totaling $4,888 | ||
| Health deficiencies, latest standard survey | 11 (Mar 18, 2026) | ||
HUD 223(f) Express Lane: the CMS part
HUD gives 223(f) applications queue priority when the facility has CMS overall and health inspection ratings of at least 2 stars and no abuse icon, among other tests (ORCF criteria of March 31, 2026). Princeton Rehab & HCC does not meet it today: overall rating 1, the abuse icon. The loan-to-value, coverage and operator tests depend on the deal. All the criteria.
Who owns and operates it
These are the owners and operators the facility reported to CMS: anyone with a 5% or greater direct or indirect stake, and any organization with operational or managerial control.
| Name | Role | Share | Since |
|---|---|---|---|
| The Alden Group, Ltd.Organization | Direct Ownership Interest | 100% | 07/01/2008 |
| Audra Elisco Grantor Tr Dated 11/02/2004Organization | Indirect Ownership Interest | 21% | 03/01/2018 |
| Lauren Magnusson Grantor Tr Dated 11/02/2004Organization | Indirect Ownership Interest | 21% | 02/28/2018 |
| Randi Schullo Grantor Tr Dated 11/02/2004Organization | Indirect Ownership Interest | 21% | 02/28/2018 |
| Elisco, ArinIndividual | Indirect Ownership Interest | 6% | 07/01/2013 |
| Elisco, CharlesIndividual | Indirect Ownership Interest | 6% | 07/01/2013 |
| Magnusson, GarrettIndividual | Indirect Ownership Interest | 6% | 07/01/2013 |
| Magnusson, PaigeIndividual | Indirect Ownership Interest | 6% | 07/01/2013 |
| Schullo, JosephIndividual | Indirect Ownership Interest | 6% | 07/01/2013 |
| Schullo, NicoleIndividual | Indirect Ownership Interest | 6% | 07/01/2013 |
| Midcap Funding IV TrustOrganization | Security Interest | n/a | 07/10/2010 |
| Alden Management Services, Inc.Organization | Operational / Managerial Control | n/a | 05/10/1990 |
| Molitor, RobertIndividual | Operational / Managerial Control | n/a | 06/16/2008 |
Changes of ownership
No change of ownership for this facility appears in the CMS change-of-ownership file, which starts in January 2016.
HUD Section 232 loans
HUD's Office of Healthcare Programs lists these FHA-insured loans for a project we matched to this facility by name, city and bed count. Status, rate and balance come from HUD's insured-mortgage files as of September 30, 2026. Check the FHA number against the loan documents before relying on the match.
| Endorsed | Program | Original amount | Status | FHA number |
|---|---|---|---|---|
| Jul 29, 2021 | 223(a)(7) refinance of a construction loanHUD project name: Alden Princeton, 225 beds. Lender at endorsement: Cambridge Realty Capital Il | $7,836,900 | Active: 2.60%, $7,231,182 balanceMatures Aug 1, 2061. Servicer: Cambridge Realty Capital Il | 07143301 |
| Feb 24, 2011 | 223(a)(7) refinance of a construction loanHUD project name: Alden-Princeton Rehab & HC Center, 225 beds. Lender at endorsement: Cambridge Realty Capital Il | $7,836,900 | Ended Jul 29, 2021Prepayment | 07143234 |
| Dec 19, 2002 | 223(a)(7) refinance of Operating Loss on 232 Health Care FacilityHUD project name: Princeton Nursing Center, 225 beds. Lender at endorsement: Cambridge Realty Capital Il | $738,400 | Ended Feb 24, 2011Prepayment | 07115026 |
| Dec 19, 2002 | 223(a)(7) refinance of a construction loanHUD project name: Princeton Nursing Center, 225 beds. Lender at endorsement: Cambridge Realty Capital Il | $7,098,500 | Ended Feb 24, 2011Prepayment | 07143177 |
Sources and dates
Facility, rating, staffing and ownership data: CMS Provider Information and CMS Ownership, processing date September 2026. Private equity, REIT and mortgage-interest flags and changes of ownership: CMS Skilled Nursing Facility All Owners and Change of Ownership files (2026-10-01). FHA-insured loans: HUD Office of Healthcare Programs endorsement database, data run July 8, 2026. How we join them, and what the join can get wrong: methodology.
SNF Register is independent. It is not affiliated with or endorsed by CMS, HUD or FHA. Spotted an error? Write to hello@hudskillednursing.loan.