National Equity Fund, Inc. National Equity Fund, Inc.

Extraordinary things happen when you have great partners
Since 1987, National Equity Fund® has invested more than $13 billion revitalizing neighborhoods,
fostering economic growth and creating affordable sustainable housing.

The Kilpatrick Renaissance

The Kilpatrick Renaissance

Senior Housing

The Kilpatrick Renaissance is a new 98-unit development for seniors 55 plus in the Portage Park neighborhood located 10 miles northwest of downtown Chicago. The building contains 38 studio, 54 one- and six two-bedroom apartments, of which one is a manager’s unit and seven are market rate. The remaining residences are affordable to low-income individuals and households earning between 50-60 percent of Area Median Income, with 10 set aside for those earning between 15-30 percent AMI.

Apartments feature an electric range, refrigerator, garbage disposal, dishwasher, carpet and vinyl flooring, central heating and air conditioning, window blinds and intercom entry.

Amenities at The Kilpatrick Renaissance include a club room with fireplace, lounge areas and full kitchen, in addition to on-site management, social services and activities, a computer center, meeting room, fitness center, library, laundry facilities on each floor, outdoor patio/courtyard, rooftop deck, storage areas and controlled access. The property is adjacent to the Six Corners outdoor shopping district, which provides residents with convenient access to retail centers and many other services.

National Equity Fund® invested $14.8 million of LIHTC equity in The Kilpatrick Renaissance, its ninth partnership with sponsor, Renaissance Realty Group.


Project Details

Completed
2015
Location
4655 W. Berteau Avenue
Chicago, IL
Project Type
Elderly
Total Units
98
Mix of Residences
38 studio; 54-1 br; 6-2 br
Limited Partnership
Kilpatrick Renaissance, LP
Tax Credit Equity
$14.8 million
Total Project Costs
$21.4 million
Sponsor
Renaissance Realty Group, Inc.
Permanent Lenders
-BMO Harris Bank N.A.
-City of Chicago Department of Housing
-RRG Development, Inc.
Download Printable Project Sheet

Print Version

Download PDF

You need Adobe Acrobat Reader to view and print this Project Fact Sheet.

Download Project Sheet