PORTAGE PARK — A prominent development at Six Corners is rapidly taking shape as workers installed the final structural beam last week.
Construction for The Point at 4747 W. Irving Park Road began in March. The facility will be a 10-story senior living facility with 258 residences and 11 affordable units called The Clarendale. It’s set to be completed by fall 2022.
Developers hosted a ceremony Thursday to commemorate finishing the structural outline of the building about two weeks ahead of schedule. Construction workers and community members signed the beam before watching a crane hoist it into the sky.
Clark Street Real Estate has owned the lot since 2014. Ryan Companies is developing the project.
Rents will be $4,400 a month for independent living, $6,000 for assisted living and $7,200 for memory care, Dan Walsh, senior vice president of real estate development at Ryan Companies, said in 2018.
Walsh said he understood the price tags for the 265 senior living units seems like a “substantial amount,” but they are comparable to other senior living facilities with similar amenities. The Clarendale will have an outdoor terrace, library, outings to places in the community, a shuttle service and a club room.
The $130 million project will have 215 parking spots and 45,000 square feet of retail space anchored by an Aldi grocery store at the corner of Milwaukee and Cicero avenue and Irving Park Road. The Aldi will take up nearly half of the ground-floor commercial space.
Representatives from Clark Street Real Estate did not return requests for comment on when construction for Aldi will begin, but developers with Ryan Companies confirmed it’s still part of the plan.
“If you haven’t shopped at Aldi in a while, we have a huge focus on fresh,” Arthur said. “It’s a big, wide selection to take care of every customer’s need.”
Despite rumors circulating on social media that an urgent care facility and Advocate Medical Group Primary Care will be the retail tenants, developers told Block Club that is false and they are shopping for tenants.
“We are working with a local realtor broker to gain some interest” in tenants, said Brandon Raymond, director of real estate development with Ryan Companies.
Neighbors have long waited for something to fill the property that was called “the hole,” which had been vacant since 2017.
The proposal went through more than 16 iterations, former Ald. John Arena (45th) previously said. Ald. Jim Gardiner stalled the project in 2019 until developers made changes, like amending the number of independent and assisted living units.
Shortly before the company broke ground early last year, Gardiner announced his support for the project, which has created more than 500 union jobs.
“We feel like this is the first project that’s under construction” at Six Corners, Raymond said. “We believed in this market, we liked this location and we can’t be any more excited or prouder that we feel we will be one of the first ones to spur on this growth.”
Iowa real estate company LCS Real Estate will operate the living options of the building and co-own it with Ryan Companies. Dan Swift, director of investments at LCS, said units at The Clarendale will keep older people in the community.
“It’s important for us to serve the niche of the seniors and provide a home within their neighborhood,” Swift said.
The company will manage on-site care staff and help with daily living, spanning from independent care to memory and dementia care.
The building will also have an interior courtyard for residents that will function as an outdoor dining area. Close to it will be astroturf so folks can enjoy activities like yoga, arts programs and fitness classes, Raymond said.
Other amenities will include restaurants, private dining for events, a theater, continuing education programs, a salon, transportation to local shopping and medical care.
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