Chicago & Midwest + Greater Chicagoland + Apartments | January 29, 2019

Evergreen Will Lead Upgrades, Expansion on Naperville Seniors Housing

Evergreen Real Estate Group is taking the lead on a project to upgrade and expand Martin Avenue Apartments, a 122-unit affordable senior housing community in Naperville, IL. The $38.6-million project will be completed in partnership with the community’s owner, Naperville Elderly Homes Inc.

“Martin Avenue Apartments has been a pillar of senior living in the Naperville area for 50 years, and we are proud to have been selected to modernize and improve the community,” said Kevin Beard, director of acquisitions at Evergreen.

Located at 310 Martin Ave. in Naperville, the community currently consists of 81 studio and 41 one-bedroom units that will be upgraded. Additionally, a new five-story wing (pictured) will add 68 apartments, mainly one-bedroom.

Construction is scheduled to begin in late spring, with completion expected in late 2019 for the existing structure and mid-2020 for the new units. All 190 apartments will be reserved for low-income seniors.

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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 13-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 15-20 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).