JV Plans $55M Senior Apartments in Suburbs

(To read more on the multifamily market, click here.)

OAK BROOK, IL-Construction is expected to begin in the next 45 days on one of four senior apartment developments in the western suburbs. A joint venture by Inland Real Estate Development LLC, based here, and HPD Cambridge Inc., based in St. Louis, will spend $55 million to construct a total of 144-apartments in LaGrange, Clarendon Hills, Lombard and Elmhurst.

The projects include LaGrange Pointe with 30 units at 93 S. LaGrange Rd. in LaGrange, Pointe at Clarendon Hills with 51 units at 9-23 Walker Ave. in Clarendon Hills, The Pointe at Lombard with 51 units at 221-226 W. Charles Rd. in Lombard and Elmhurst Pointe with 32 units at 111 W. 3rd St. in Elmhurst.