The Clare

The Clare
General information
Status Complete
Type Residences
Location 55 E. Pearson St. Chicago, Illinois
Construction started 2006
Completed 2009
Renovated 2016
Owner Senior Care Development, LLC
Height
Roof 179 m (587 ft)
Technical details
Floor count 53[1]
Design and construction
Architect Perkins+Will

The Clare (formerly The Clare at Water Tower) is a high-rise senior independent living community situated on the Loyola University Chicago Water Tower Campus in Chicago's Gold Coast at Rush Street & Pearson Street. It is a continuing care retirement community and the only senior living community in the Gold Coast that offers a LifeCare contract. The 53-story building is designed by Perkins and Will, and is one of the tallest buildings reserved for senior citizens in the world.[2] This building also includes 50,000 square feet (4,600 square meter) of classroom space at the bottom to replace two small classroom buildings belonging to Loyola University Chicago.

Until November 2011, The Clare was owned and operated by the Franciscan Sisters of Chicago,[3] a religious organization that runs senior care facilities throughout the Midwest.[4] On November 15, 2011, The Clare filed for bankruptcy protection from creditors after failing to make debt payments.[3] At the time, the building was only 34% occupied.[3] The property was sold in a bankruptcy auction to Senior Care Development, LLC, a Harrison, New York-based non-denominational senior care company.[3] The property is managed by Life Care Services.[5]

From 2014 to 2016, The Clare's occupancy increased from 44% to 78% and now has a wait list for larger units. In 2016, The Clare underwent extensive renovations, including transforming the Grand Lobby, adding a Bistro Café to the ninth floor, overhauling the 53rd floor into a third dining venue called The Abbey on 53, and upgrading the layout and décor of the Grafton Dining Room.

See also

References

  1. ↑ "The Clare at Water Tower, Chicago | 181219". Emporis.com. Retrieved 2015-04-23.
  2. ↑ Bruce (2013-04-28). "The Clare at Water Tower: A Post Mortem | Aging In Chicago: Understanding the World of Elder Care Services". Chicagonow.com. Retrieved 2015-04-23.
  3. 1 2 3 4 Ori, Ryan (12 April 2012). "Clare at Water Tower sold in bankruptcy auction". Chicago Real Estate Daily. Chicagorealestatedaily.com.
  4. ↑ "Franciscan Communities". Franciscaancommunities.com. Retrieved 23 October 2012.
  5. ↑ "The Clare - Leadership". theclare.com. Retrieved 27 January 2015.

Coordinates: 41°53′50″N 87°37′35″W / 41.8973°N 87.6263°W / 41.8973; -87.6263

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.