Evergreen Tops Off 80-Unit Seniors Apartments in Bellwood
Evergreen Real Estate Group has topped off construction of bellwood Senior Apartments, an 80-unit affordable rental community located at 542 25th Ave. in Bellwood, IL., a western suburb of Chicago. The development is now pre-leasing, with first move-ins scheduled for August 2023.
The $30-million project replaces a former Walgreens with a four-story, 73,228-square-foot residential building. Managed by Evergreen’s in-house management team, many of whom have previously worked in social services and the nonprofit sector, Bellwood Senior Apartments will offer 76 one-bedroom and four two-bedroom independent living apartments for seniors age 62 or older, with incomes at or below 60% of the Area Median Income.
“As the cost of living has increased, so too has the need for affordable housing, especially for seniors who historically have had even fewer options available to them,” said David Block, director of development for Evergreen Real Estate Group.