REDICO Expands Senior Housing Portfolio

American House Senior Living, a subsidiary of parent company REDICO, is set to manage the senior housing community American House Mount Prospect, situated 20 miles northwest of downtown Chicago. The 100-unit community, located at 1111 S. Linneman Road, Mount Prospect, Ill., is one of more than 60 REDICO communities nationwide.

American House Mount Prospect provides memory care and assisted living to its residents and focuses on life enrichment, wellness and culinary programs. It is the only senior living community in the Mount Prospect area. It is 60 percent occupied.

At American House Mount Prospect, residents have access to a full-service salon and barber shop, laundry services, a game room, a dog park, a fitness center, a movie theatre, transportation and housekeeping services.

“As a community less than five years old, it stands out as an exceptionally well-designed and functional senior living community,” American House President Jeff Floyd told Multi-Housing News.

This new assignment brings the company’s Midwest presence to three Illinois communities, including American House Oak Park and American House Cedarlake. Floyd said American House will continue to evaluate opportunities to expand in Chicagoland.

Chicago activity

Chicago multifamily fundamentals are a bit of a mixed bag, with some metrics coming in better than national averages. Asking rents dropped by 0.2 percent on a trailing three-month basis through November in the area, ending a short-term run of rent growth that peaked in summer. It has an occupancy rate of 95.7 percent, slightly above the 94.8 U.S. average.

In January, construction began on Deerfield Supportive Living, a 147-unit affordable senior housing community in Deerfield, Ill. The community will cater to seniors earning between 50 and 80 percent of the Area Median Income. Completion is expected by mid-2026.

More recently, a groundbreaking event was held about 13 miles south for a senior housing development and community center in Franklin Park, Ill., part of Leyden Township. The Leyden Senior Apartments, a highlight of the Moving Mannheim Forward initiative, will feature an 80-unit, four-story residential building.

Evergreen Real Estate Group will develop the community, which was designed by Weese Langley Klein Architects and is scheduled to open in the summer of 2026.

“Like the rest of the country, Chicago has a shortage of affordable housing, particularly for seniors who have even fewer options available to them,” David Block, director of development at Evergreen Real Estate Group, told MHN.