‘A pleasure to see the building come down’: Demolition begins to clear site for attainable senior housing in Libertyville
Removing a long-vacant office building along a busy street in Libertyville is a small demolition job, but what comes next is considered a big deal in town.
Nearly three years after the plan was introduced, removal of a single-story building at 500 Peterson Road began Tuesday to clear the site for a $25 million mixed-use development to include “attainable” apartments for those 55 and older.
“It is such a pleasure to see the building come down,” said Chase Morris, vice president of real estate development for Community Partners for Affordable Housing, while watching an excavator tear at the brick structure.
That building has been unoccupied for a dozen or more years. After the building and foundation are removed and the 1.46-acre site cleared, likely by the end of next week, work will proceed on Eve B. Lee Place, a three-story building with 34 rental apartments on the top two floors.
The ground floor will be the new quarters for Libertyville-based CPAH. The nonprofit manages rentals condos, townhouses and single-family homes throughout the northern suburbs and helps Highland Park, Evanston and Northbrook administer inclusionary housing programs.
“It is on the larger side of our developments and it is our future home as a company,” Morris said of Eve B. Lee Place. “It’s a huge investment in Libertyville and Lake County.”
The village board approved the final plan for the development in February 2023.
Construction is expected to take about a year and also is intended to help revitalize a portion of Peterson Road. The building is designed to be energy efficient and include shared community and fitness rooms, computer lab, outdoor patio, green space and a walking path for residents.
Senior housing is an identified need in Libertyville. The project will include 26 one-bedroom and eight two-bedroom units at rents on average from $1,081 to $1,288, respectively. Tenants will need to have a maximum income of $47,100 for a one-person household and $53,820 for a two-person household.
Funding largely is through the Illinois Housing Development Authority, Lake County, Cinnaire Advancing Communities, Wintrust Community Bank, ComEd and federal community project funds.
The village also is contributing $170,000 from its attainable housing fund supported by developers in lieu of providing “affordable” housing units.
“The (village) board along the way has been trying to determine whether we need a policy for that fund,” said Mayor Donna Johnson. “We’ve been doing it on a case-by-case basis.”
The development is named for Lee, a former Libertyville resident and founding member of what is now CPAH. Lee is on the CPAH board.