Real Estate Portfolio

Bloomhaven

301 & 323 Weston Ave, Aurora, IL 60505

Bloomhaven

301 & 323 Weston Ave, Aurora, IL 60505

Through partnership and innovation, a hospital complex that sat abandoned for a quarter of a century is being redeveloped. The $117.6mm revitalization effort will transform the once blighted campus into an Innovative Living Community. The complex capital stack includes – New Market Tax Credits, State (Illinois Rivers Edge Historic Tax Credits) and Federal Historic Tax Credits, Tax Increment Financing, bridge lending, construction lending, private capital and municipal grants. A team of regional and national experts were assembled to undertake the adaptive reuse of the historic property. The result will be a mixed used development consisting of rental housing and community healthcare/office space. Once complete, the project will include:

Bardwell Senior Living Residences:

Up to 99 apartments serving the aging population with a mixture of independent, assisted-living and memory care units available managed by Gardant Management Solutions.

Weston Bridges:

An Independent Apartment Community: A 53-unit apartment community to serve adults with cognitive and developmental disabilities with low support needs (I/DD).

In the News

Commercial:

Commercial space used for education and the East Aurora School District #131 centralized administration building. The remaining commercial space is health care services including an urgent care center and various medical offices.

Recreation and Parks:

Additional land was acquired next to the campus for the purpose of donating it back to the community for creation of a new park. A grant was received from the Illinois Department of Natural Resources to help build the neighborhood park. Additional landscaped walking paths and open space will reconnect the campus to the neighborhood.

Awards:

Bloomhaven Innovative Living Community has been selected to receive the 2023
Landmarks Illinois Richard H. Driehaus Foundation Preservation Award for Adaptive Reuse. In addition to the award for adaptive reuse, Bloomhaven is also the recipient of the Legacy Award for demonstrating the immense power of preservation, following in the footsteps of Richard H. Driehaus who believed reusing places of our past creates positive change and motivates others to save important places. The press release can be found on the Landmarks Illinois website at – Press Room.

Property Type:

Commercial Historical Redevelopment Residential Senior Living

Services Utilized:

Construction Management Property Acquisition & Development Property Management

Property Website:

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