Senior Housing LIHTC
265 Lakeshore Drive, Bolingbrook, IL 60440
105-unit senior housing property with LIHTC and HAP agreements.
Type:Multifamily
Property size:
74,047 SF- Added:
- Nov 21, 2025
- Days on Market:
- 181
- Last Refresh:
- Jan 28 at 8:36 pm
Property Features for 265 Lakeshore Drive
General Information
- Standard status
- Active
- Size
- 74,047 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2010
Listing agent Jonathan P. Welch License #10311209863
Listing office McMillan & Welch Real Estate A (585) 880-6283
Listing date Nov 21, 2025
Source Svnchicago
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All listing content including descriptions, pricing, images are the copyrighted material of McMillan & Welch Real Estate A
HighLights
- Strong occupancy history and professional management ensure stable income.
- Attractive financing options available.
- 22 units with guaranteed rental income through July 2034 thanks to a recently renewed HAP agreement.
- Located in a Qualified Census Tract (QCT), offering potential for resyndication.
- Dedicated 2‑bedroom unit for on‑site staff.
- Expansive clubhouse with kitchen, dining, laundry, and exercise facilities.
Overview
McKenzie Falls is a 105-unit senior (62+) Low-Income Housing Tax Credit (LIHTC) property with a size of 74,047 square feet. Constructed in 2010, the property is located at 265 Lake Shore Drive in Bolingbrook, IL, immediately east of Route 53 (Bolingbrook Drive) at Briarcliff Road and Lake Shore Drive. The property was financed via 4% Low-Income Housing Tax Credits, Tax-Exempt Bonds, HOME Funds, and private debt & equity. The property includes an expansive clubhouse for senior residents, featuring a large kitchen and dining area, laundry facilities, and an exercise room. The clubhouse also provides offices for management and a garage/storage area for maintenance supplies, as well as an additional, spacious 2-bedroom unit for maintenance or management. The units are sprinklered. There is ample parking available. The property is professionally managed and has consistently maintained a high level of occupancy. Currently, 32 units are subject to 50% Area Median Income (AMI) restrictions, and 73 units are subject to 60% AMI restrictions. Additionally, 22 units are covered by a Housing Assistance Payments (HAP) agreement, which was recently renewed for an additional 10-year period on July 1st, 2024, and will extend through 2034, while the Land Use Restriction Agreement (LURA) will extend through 2042. McKenzie Falls is located in a Qualified Census Tract (QCT), providing investors the option to resyndicate the asset. The property is adjacent to Walmart. There is minimal deferred maintenance. The property presents an opportunity to assume the current in-place debt or place new financing on the property. The rents are below market.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Senior Housing / Retirement ...
Location Insight
- Map
- Local Demand
- City
- Bolingbrook
- County
- Will
- State
- Illinois
- Longitude
- -88.0633
- Latitude
- 41.6957
Nearby Similar for Sale
FAQs
What type of property is this?
Senior housing / Retirement Home - 105-unit senior housing property with LIHTC and HAP agreements.
Where is this senior housing / retirement home located?
The property is located at 265 Lakeshore Drive Bolingbrook, IL.
What are key features of this property?
This property features: Strong occupancy history and professional management ensure stable income.; Attractive financing options available.; **22 units with guaranteed rental income through July 2034 thanks to a recently renewed HAP agreement.**
