(Read more on the multifamily market.)

CHICAGO-The 133-unit apartment component has opened at Autumn Green at Wright Campus, which is being developed by locally based Senior Lifestyle Corp. The apartments are part of a $40-million development near Wright College that also will have 72 condominiums and 25,000 sf of open space with a garden courtyard on a total of 4.5 acres.

The Autumn Green at Wright Campus development, at 4239 N. Oak Park Ave., is the second of the same name developed by the company, with the first being Autumn Green at Midway Village, 6700 S. Keating Ave. Both Autumn Green developments have one and two bedroom apartments and condominiums. The Autumn Green projects are “mid-market senior residences” with prices that are 10% to 20% below market rates due to assistance with tax increment financing, the company says.

The 135,240-sf six-story building has 133 apartments with currently about 50% of the units rented, says Roth Weaver, regional director of operations. Apartments range in size from 593 sf for some one-bedroom units to 925 sf for some two-bedroom units and monthly rental rates ranging from $1,945 to $2,645. There are 27 one-bedroom units reserved for seniors earning at or below 60% of the area median income with lower rates. Services include meals, housekeeping, scheduled transportation, activities and an Up-and-About check-in system, where residents press a button each morning to indicate they are up and all right, Weaver says. Amenities include a dining room, social lounge, library, fitness center, media and activity rooms and computer lab.

A total of 72 condominium units will also be constructed in two phases in two four-story buildings, each with 5,500 sf, says Bob Gawronski, vice president of development for SLC. The first phase of the project for 36 condominiums will be completed in July and is almost sold out, Gawronski says.

Senior Lifestyle Corp. has constructed nearly two dozen senior apartment buildings in the Chicagoland area. Senior Suites of Joliet, an $18.7-million project, is currently under construction, Gawronski says. The company was founded in 1985 and has a portfolio of more than 60 communities with 8,400 units, Gawronski says.

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