Ryan Companies, LCS Real Estate and Harrison Street have closed financing and begun construction on Clarendale Six Corners, a senior living community to be located at the corner of Irving Park Road and Milwaukee Avenue in Chicago that will cover 1.25 acres of the four-acre land parcel known as The Point at Six Corners.
“As we continue to witness the resurgence of our Six Corners Business District, our community welcomes the addition of the Clarendale and Aldi. With collaboration and teamwork, our community will continue to reap the rewards of community-based developments that enhance our neighborhood,” said Alderman James Gardner (45th Ward).
Construction and new infrastructure will begin on the 10-story, $117 million mixed-use, retail and senior living property that will include 258 residential units made up of independent living, assisted living and memory care units, and 11 affordable independent living units. Located on a prominent, triangular corner, there will be a variety of dynamic public spaces around the site and an outdoor sky terrace on the fourth floor, as well as 18,000 square feet of street-level retail space.
“This was a long time coming, and we’re ready to be an important anchor in the redevelopment of this prominent intersection,” said Dan Walsh, senior vice president of development, Ryan Companies. “This property will give our residents and employees access to a wide range of amenities right outside their doorstep, all while helping the Six Corners shopping district continue its resurgence as a critical destination for the northwest neighborhoods and powerful engine for the local economy.”
Clarendale Six Corners will be highlighted by amenities and services including culinary excellence and nutrition-focused dining options with restaurants, bistro and bar options; private dining for events; a theatre; continuing education programs; fitness equipment and group fitness classes; salon and spa; arts programs; landscaped patios; transportation to local shopping, events and appointments; medical care; covered valet parking and more.
The surrounding community will have access to three distinct public areas, including a plaza with benches and bike racks, a pedestrian plaza with shade trees, additional bike racks, outdoor seating and a custom art display, and a mid-block pedestrian connection to increase convenience for pedestrians to walk around the Six Corners district. There will also be 215 off-street parking spaces. The south half of the site will be an Aldi grocery store and additional retail space.
“LCS is excited to further our relationship with Ryan Companies and Harrison Street at Clarendale Six Corners. We look forward to providing future residents with extraordinary experiences at this best-in-class senior living community for many years to come,” said Chris Bird, executive vice president, chief operating officer, LCS
With construction starting, the project will create approximately 650 union construction jobs and 200 permanent jobs over a 20-year period and will produce an expected $40 million in property taxes. The total economic impact from the project is anticipated to exceed $730 million.