CHICAGO-Greystone Communities Inc. has commenced construction on Admiral on the Lake, a $228.5-million senior housing tower, located at Marine Drive and Foster Avenue on the North Side. The Illinois Finance Authority has issued $202 million in bonds to finance the development.
The 31-story, 256-unit development, which is expected to be complete in September 2012, includes 56 units meant for residents who require extra care. Once the project is complete, Pennsylvania-based Kendal Corp. will remain as manager. For the full story, go to Crain's Chicago Business.
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