1201 E. 77th St.

The $29 million, second phase of Montclare Senior Residences of Avalon Park consists of 122 apartments, 109 of which are rented to seniors earning up to 60 percent of area median income. The seven-story, L-shaped structure, developed by Avalon Park Phase II LLC, includes a mix of studio, one and two bedroom apartments for independent seniors at least 62 years of age. The 102-unit first phase of the complex was completed in 2009. The two phases share a lobby, activity rooms and laundry facilities located in the original building.

DPD Assistance:

• $6.7 million loan
• $14.8 million tax credit equity
• $650,000 Chicago Low-Income Housing Trust Fund rental subsidy
• Land write-down