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Chicago & Midwest  + Greater Chicagoland  + Healthcare  | 

C-PACE Financing on Medical Campus is Kane County’s Largest

The Illinois Energy Conservation Authority (IECA) recently closed on its largest commercial Property Assessed Clean Energy (C-PACE) financing deal in Kane County, totaling nearly $3 million in funding.

The C-PACE capital will finance energy efficient upgrades in the Old Copley Medical Hospital in Aurora. The Aurora City Council voted unanimously last year to approve the transformation of the abandoned nine-acre medical campus. 

“Kane County was the first county in Illinois to adopt PACE financing in 2018 and sign on with the IECA,” said Mark Pikus, president of IECA. “We are thrilled to continue our relationship with the County and be a part of the historic Old Copley Medical Hospital transformation and the revitalization of the East Aurora community.”
 
Enhanced Capital, a national asset manager that invests capital into small businesses, renewable energy projects and historic real estate rehabilitation, partnered with locally-based Fox Valley Developers, LLC to help finance the project.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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