$43 million Montclare Senior Residences on tap for Windy City

CHICAGO – MR Properties LLC has broken ground on The Montclare Senior Residences, a $43 million, 333-room affordable senior housing community located on Chicago’s west side near Shriners Hospital. The Montclare will include one- and two-bedroom residences, a community center and outdoor recreation areas.

MR Properties is developing the 5.2-acre Montclare community in two phases. Phase I, slated for completion in November, consists of an 8,600 sq. ft. community center attached to a six-story, 153-unit residential building. Phase II will include a seven-story, 180-unit residential building upon completion in the fall of 2002.

The Montclare will feature fully equipped kitchens, individual heating and cooling controls, personal storage and handicap accessibility. Laundry rooms will be located in each building, and for an extra fee, residents can receive dining, housekeeping, linen service and other personal assistance.

The community will also feature a social lounge, library, fitness center, game room and medical office. A beauty and barber shop will be on site, as well as a business center with computers and Internet access. The Montclare grounds will be landscaped to include a walking path and areas for gardening, barbecuing, picnicking and outdoor games.

Residents must be 55 years old and meet federal income limits. Rents for a one-bedroom unit will start at $575 per month; two-bedroom residences will start at $875.

The Montclare was designed by Chicago-based Kachoris Altay Architects Inc., and constructed by Northbrook, Ill.-based Crane Construction. New Frontier Management Corporation, Chicago, will provide on-site management and leasing.

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