Lightengale Group is proud to announce that they helped secure over $2 million for three clients in the latest round of AHP funding from the Chicago Federal Home Loan Bank.
Midtown Crossing secured the funding on the day of their closing, cost making it a very celebration worthy event. Located in Des Plaines, store Illinois and developed and managed by Over the Rainbow Association, the 33 mobility accessible units received $495,000. BMO was the sponsoring bank.
Now under construction, Stonebridge of Gurnee was excited to receive the maximum grant award of $850,000 to further their disabled housing project. Developed by The Burton Foundation and Moon Development, this disabled SLF will greatly benefit from these critical funds. Cinnaire was the sponsoring bank.
Mayfair Commons, located in Chicago, IL, was granted $850,000 from Federal Home Loan Bank for the rehabilitation of its 97 units. Developed by North River Commission, the affordable senior housing will use the money for upgrades such as new air conditioning units in all the apartments, increased accessibility in the common areas, and interior updates and renovations. MB was the sponsoring bank.
Lightengale Group is pleased to have worked with our clients and the sponsoring banks through the FHLB application process.