Lissette Castañeda DOH commissioner | City of Chicago Website
Lissette Castañeda DOH commissioner | City of Chicago Website
Chicago's City Council has approved an ordinance that facilitates the transfer of ownership for Renaissance Saint Luke, a senior living facility located in the Lakeview neighborhood. The change involves transferring control from the current General Partner, RRG Renaissance Saint Luke SLF, LLC, and Limited Partner, NJK Venture, LLC to new partners Greenview SLF General, LLC and Greenview SLG Limited LLC. The purchase price for this transaction is set at $6 million.
The ordinance also includes provisions for a loan subordination related to the city's junior mortgage. It approves CIBC as the replacement lender of credit for the bonds associated with this property.
Renaissance Saint Luke comprises 107 units dedicated to senior living. Of these units, 12 are offered at market rates while 95 are designated as affordable housing options below 60% of the Area Median Income (AMI).
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