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KJ Manor

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KJ Manor

Experienced Developer Non-Profit Organization

KJ Manor

DEVELOPER INFO:

Lead Developer: Source Works Green is partnering with Kennedy Jordan Manor, Inc., the 501c3 arm of the Sheldon Heights Church of Christ, to develop this affordable senior housing project near the church. Source Works Green has a distinguished track record of developing, constructing and managing senior housing projects throughout Chicago. This project brings together several years of experience and expertise which will be instrumental in the successful completion of the development and ongoing management of the property. Sheldon Heights Church of Christ, an active partner in this venture, will make key decisions throughout the project and will have the option to gain ownership after the initial LIHTC compliance period.

Co-Developer: Development of affordable senior housing has long been a priority for Sheldon Heights Church of Christ. Kennedy Jordan Manor Inc, an IL 501(c)(3), was established in 2002 for the sole purpose of development affordable housing. Kennedy Jordan Manor Inc. will help coordinate social programs and services for seniors, and will also actively participate in the property management throughout the compliance period.

 

PROJECT INFO:
KJ Manor is a mixed income, 70-unit, new construction development for seniors 55 and older. This project is a single mid-rise building that includes an atrium in the entrance of the building lobby to bring in substantial light.

The West Pullman neighborhood is a mature community that was formerly home to a considerable concentration of heavy industry. These former industrial sites are currently undergoing substantial redevelopment efforts, which have also led to commercial and residential investment in the community. The new strip malls and store-fronts are typically fully occupied and contain national chain stores and restaurants.

Due to its size and location at the busy intersection of 119th and Halsted, the proposed Kennedy Jordan Manor site is a key component in the ongoing revitalization of the area. The West Pullman branch of the library is adjacent to the site and Marshfield Plaza is just one mile away.

The Salvation Army’s Kroc Center is located less than a mile from the Kennedy Jordan Manor site. The center offers job training, classes in the arts and health, plus feature a performing arts theater, a 5,000-seat gym, climbing walls and baseball and soccer fields.

project details

  • Lead Developer: Source Works Green
  • Co-Developer: Kennedy Jordan Manor, Inc.
  • Project Address: 825 W 118th St., Chicago, IL
  • Number of Units: 70
  • Property Type: Senior Housing
  • Closed: December 2014

 

Project Funding Sources

  • 9% LIHTC Equity
  • Construction Loan
  • City of Chicago HOME Loan
  • Tax Increment Financing
  • Energy Grant

 

Lightengale’s Role

  • Strategy
    • LIHTC Application
    • TIF Negotiations
    • Project Budget
  • Financing Execution
    • Project Debt & Equity Coordination
    • Energy Grant Application
  • Due Diligence Coordination
    • General Contractor & Architect Coordination
    • Property Mgmt Documents
    • Insurance Coordination
    • Closing Owner Sworn Statement
  • Post Closing Services
    • Construction Administration of Draws
    • LIHTC - Carryover/10% Test
    • LIHTC - 8609 coordination

 

Photo Credit: Google Earth, July 2018

 

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CREATIVE APPROACH.
PROVEN RESULTS.


three
Words from our Partners:

Lightengale (LGG) began serving affordable housing developers in 1999. Over the next 23 years, LGG assisted over 150 affordable housing deals (and one radio station) to come to fruition. We are so pleased that we were able to work with so many wonderful developers, both new and experienced, small and large, to help them provide affordable housing and improve their communities.

Over these years, we learned a lot and navigated the company and our clients’ deals through the Great Recession of 2007-2008 and the Covid Pandemic of 2020-2022. Throughout this time, we have had the privilege of working with some of the finest affordable housing specialists – on our staff, our clients, and in the broader community.
Everyone should have a home they can afford and feel safe in. Ideally, amenities are nearby, and the home is energy efficient. We enjoyed working with so many people who shared our vision of universal affordable housing. While we continue to believe strongly in universal affordable housing, we also believe it is now time to have others lead the way and guide deals through the process. We hope the next generation continues to provide more truly affordable housing for more people.

While we are not taking on any new clients or projects and will be closing our doors once we finish our current deals, we want to let you know how much we have enjoyed working with each and every one of you throughout these years.

All the best to each of you-- Maggy, Larry and Virginia
Copyright Lightengale Group