Gardner Capital Completes Chicago-Area Senior Housing
- Aug 14, 2020
Spring Hill Senior Residences, a new affordable senior housing community in the far west Chicago suburb of West Dundee, Ill., has been completed. Developed by family-owned private equity firm Gardner Capital, the community features 61 apartments for residents 55 years and older. The community also features a number of common-area amenities.
Spring Hill Senior Residents is located at 969 W. Main St., across the street from Spring Hill Mall. The community features one-bedroom apartments of 735 square feet and two-bedroom residences of 892 square feet. Apartments include full-size in-unit washers and dryers, air conditioning and cable readiness. A business center tops the list of amenities.
Gardner Capital’s development partner was the Housing Authority of Elgin in nearby Elgin, Ill. Financial partners included Fifth Third Bank and Raymond James. The Illinois Housing Development Authority served as the permanent lender on the project.
Spring Hill Senior Residences is located near Ill. Route 72 and also convenient to public transportation. The community is 10 minutes away from the downtown Elgin station on Metra’s Milwaukee District West Line, with commuter rail service to the west side of Chicago’s Loop. Including Spring Hill Mall, three shopping centers are located within less than a mile of the property. Elgin Community College, Harper College and McHenry County College, are all within 27 miles. Chicago O’Hare International Airport is located about 29 miles away.
Spring Hill Senior Residences is served by an array of parks and recreational amenities located within three miles of the community. They include Raceway Woods Forest Preserve, Schweitzer Woods Forest Preserve and Tyler Creek Forest Preserve.
Seldin will manage the community. Powers and Son Construction served as the project’s general contractor. In a statement, Gardner Capital reported this represents the first of several projects the company has planned for the Chicago area’s suburban markets.