The Illinois Health Facilities Planning Board in March will consider a proposal for “the Clare at Water Tower,” a $178 million seniors housing development that already received a nod from the Chicago Plan Commission.
More than half of the units at the proposed development have been reserved by potential buyers, according to the developers. The Clare offers “Life Care,” a retirement community that combines maintenance-free independent living; estate protection; five-star hotel-style services and amenities; and access to assisted living, skilled nursing and memory enhancement – all on site.
The community will be owned by the Franciscan Sisters of Chicago Service Corporation and built on land leased from Loyola University Chicago. The 53-story tower was designed by renowned architect, Ralph Johnson, of the Chicago office of Perkins & Will, and is slated to replace two Loyola buildings on the south side of Pearson between Rush and Wabash.