850 North Lake Shore Drive is a luxury entrance fee Senior Living Community under development in Chicago, Illinois. National and development partner, Integrated Development Group (IDG), closed on this $39 million joint-venture equity investment in May of 2008. The project entails the redevelopment of an existing property – one of the most highly-sought after reuse properties in Chicago.    

Resting along famous Lake Shore Drive in downtown Chicago, the community will consist of 128 Independent living units, and 11 Care Center units. The building’s stunning location offers views of both Lake Michigan and the Chicago city skyline. 

National has found ways to add further value to the development by preserving parts of the original property, which are convertible into common amenities in upscale retirement communities.  Such amenities include fine dining space and a paneled library. Moreover, remaining space will be re-programmed into recreational facilities such as social lounges, a fitness center and spa, and a rooftop patio.

National and IDG completed the site purchase by procuring a $25 million acquisition loan from MB Financial Bank. IDG brings a vast amount of senior housing development experience into the partnership.