CHICAGO—Ryan Companies US, Inc. a national developer, designer, builder, capital markets partner, and real estate manager, offering full-service commercial real estate solutions, held the topping off of Clarendale Six Corners, a 10-story, 258-unit senior living community on Chicago’s Northwest side. Ryan Companies, local subcontractors, partners and 45th Ward Alderman James Gardiner signed the final beam.
Ryan is the project’s developer, architect of record, builder, and capital markets partner. The project is owned through a joint venture partnership between Ryan, LCS, and Harrison Street, with LCS handling day-to-day operations and Ryan providing asset management services.
“We’re making tremendous headway with this project, and it can be credited to the strong collaboration between our construction team and subcontractors,” said Brandon Raymond, director of real estate development, Ryan Companies. “Ryan is committed to helping revitalize this community, and this project will be the catalyst for the resurgence of this neighborhood.”
Located at the intersection of Irving Park Road, Cicero Avenue and Milwaukee Avenue, the 10-story, $117 million retail and senior living community broke ground January 2021 and is expected to be completed by fall 2022. To date, this mixed-use project has taken 22,000 hours of work and has created hundreds of jobs in the community.
“Clarendale Six Corners is an exciting addition to the Clarendale portfolio, and we are thrilled to partner with Ryan Companies to bring more high-quality living options to seniors in the Chicago area,” said GeLynna Shaw, senior vice president and managing director, rental division, LCS. “This community will offer exceptional hospitality, exquisite dining and amenities, and superb city views in a convenient and vibrant location that seniors and their family members are sure to enjoy.”
Clarendale Six Corners will include 258 residential apartments made up of independent living, assisted living, and memory care residences, including 11 affordable independent living residences. The development will offer a variety of dynamic public spaces around the site and an outdoor sky terrace on the fourth floor, as well as 18,000 square feet of street-level retail space.
Resident amenities will include a bistro-style eatery, cocktail bar, billiards lounge, private patios, massage room, full-service salon, fitness center, fine dining experiences, and weekly housekeeping.
Ryan has built 50 senior living communities throughout the country and of that portfolio, developed 26. Clarendale Six Corners will be the 10th Clarendale senior living property in Ryan’s portfolio. LCS currently manages more than 140 communities across the nation. Together, Ryan and LCS have partnered to develop 11 communities in various locations across the US.
About Ryan Companies US, Inc.
Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, architect, capital investment consultant, builder, and real estate manager with a focus on bringing lasting value to its customers and the communities in which it works. Ryan market depth includes retail, industrial, healthcare, and senior living. Ryan development and corporate build-to-suit work spans a wide range of product types including office, mixed-use, hospitality, multifamily housing, and mission critical facilities. Ryan has nearly 1,600 employees in 15 offices and has completed projects in 39 states. For more information, visit ryancompanies.com.
About LCS
As a pioneer in the senior living industry since 1971, making a difference in the lives of seniors has been our sole focus since day one. The dedicated LCS Family of Companies is designed to help fulfill your community’s mission. This structure allows us to develop and share expertise across our company to deliver innovative solutions to partners, seniors, and their communities. LCS has the experience, leadership, and integrity to meet unique needs of your community. When you partner with LCS, you receive more than just a single perspective; you get the experience of six senior-focused companies working together as one. In the field of senior living, Experience is Everything. For more information, visit LCSnet.com.
About Harrison Street
Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets. Since inception in 2005, the firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets. The firm has invested across senior housing, student housing, healthcare delivery, life sciences and storage real estate as well as social and utility infrastructure. Headquartered in Chicago with offices in London and Toronto, the firm has more than 195-employees and approximately $36 billion in assets under management. Clients of the firm include a global institutional investor base domiciled in North America, Europe, Middle East, Asia, and Latin America. Harrison Street has been awarded Best Places to Work by Pensions & Investments for the last seven consecutive years and was named 2020 Global Alternatives Investor of the Year by PERE. For more information, please visit harrisonst.com.
