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Cook County Considers $2.6M Senior Housing Investment

Cook County logoCook County
Disclosed value
$2,646,000.00
From agenda
Document date
Jun 10, 2025
Term
40-year term

The 30-second brief

What it covers

Cook County is considering a $2.646 million investment in Carefree Development LLC for the construction of Carefree Village, an affordable senior housing development with 55 units located in Oak Forest, Illinois. The loan will have a 40-year term with interest-only payments for the first ten years at a rate of 0.50%.

Who holds it

Carefree Development holds this loan contract with Cook County. Its other public contracts on record include work for City of Oak Forest and Housing Authority Cook county.

What happens next

Term as filed: 40-year term.

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Contract details

Contract type
Loan
Amount
$2,646,000.00
Document date
June 10, 2025
Term
40-year term
Vendor
Carefree Development
Agency
Cook County
Source document
cook-county-agenda-2025-06-10_6c6.pdf (Agenda)

Carefree Development's other public contracts

City of Oak Forest, IllinoisDesign Review Approved For Carefree Village Material Change · Jul 12, 2026UndisclosedCook County, IllinoisCarefree Village receives $2.64M HOME Investment Funds · Jun 10, 2025$2.6MCook County, IllinoisInvest to Carefree Development, LLC for Senior Housing · May 15, 2025$2.6MHousing Authority Cook county, IllinoisCarefree Development Receives Vouchers for Carefree Village · Apr 13, 2023UndisclosedHousing Authority of Cass county, North DakotaCarefree Development Gets Vouchers for Senior Housing · Apr 13, 2023UndisclosedAll Carefree Development contractsVendor profile

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Questions about this contract

Who was awarded the loan contract by Cook County?

Carefree Development was awarded this loan contract by Cook County, as recorded on June 10, 2025. The contract value is $2,646,000.00.

How much is the Carefree Development contract with Cook County worth?

The Carefree Development contract with Cook County is valued at $2,646,000.00, covering loan work.

What type of contract is this?

This is a Loan contract, documented as a agenda record.

Where was this contract approved?

This contract appears in cook-county-agenda-2025-06-10_6c6.pdf (Agenda), dated June 10, 2025 from Cook County. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Carefree Development hold?

Carefree Development may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is Cook County currently buying?

Explore Cook County's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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