Weekly Real Estate News
Summary
Lincoln Avenue Communities announced November 2, 2026, that it had broken ground the previous week on The Talia, a 40-apartment affordable housing development for residents 55 and older in Channahon, Illinois. Thirty apartments are designated for households earning up to 60% of area median income and 10 for households at up to 30%. Construction is expected to finish in 2027; LIHTC financing was awarded in 2025.
Construction is underway on a 40-apartment senior housing development in Channahon, Illinois, where a quarter of the residences are reserved for households earning no more than 30% of area median income.
Lincoln Avenue Communities said November 2 that it broke ground the previous week on The Talia, a three-story building for adults 55 and older. The development occupies a 2.53-acre site at West Drake Drive and South Plainview Drive. Completion is expected in 2027, according to the developer; an exact opening date has not been announced.
Of the 40 apartments, 30 will be restricted to eligible older residents earning up to 60% of the local area median income, while 10 will be reserved for those earning up to 30%. Those are maximum income thresholds, not announced rents. Actual monthly charges and tenant qualification rules were not provided in the announcement.
Tax credits underpin the project
The developer said the project received federal Low-Income Housing Tax Credits awarded by the Illinois Housing Development Authority in 2025, when it was known as Mallard Point Senior Apartments. Tax credits can bring private equity into an affordable development in exchange for enforceable rent and income restrictions. The November announcement did not disclose the project’s total cost, the amount of tax-credit equity raised, the construction lender or the full capital stack.
The Talia is planned with a fitness center, theater room, shared laundry facilities, community garden and walking path. Lincoln Avenue Communities said the building is designed to pursue National Green Building Standard certification and net-zero performance. Those are design objectives, not completed certifications or measured operating results.
The project adds a relatively small number of income-restricted homes to the Chicago-area region, but its deepest-affordability allocation is notable: 10 apartments are designated for households at or below 30% of area median income. Whether the development can meet local need will also depend on its eventual rents, accessibility and the number of eligible applicants.
One development in a wider Illinois housing push
Channahon Mayor Missey Moorman Schumacher and Rep. Darin LaHood attended the groundbreaking, the developer said. The Talia is Lincoln Avenue Communities’ fourth ground-up construction project in Illinois.
The start follows a separate Illinois announcement of $156 million in housing initiatives. That statewide funding action should not be conflated with the financing for The Talia: the developer identified the project’s 2025 tax-credit award but did not say that the new statewide programs funded this building.
Construction, rather than leasing, is the confirmed milestone. No application opening, rent schedule or move-in date has been independently verified.
Image: Illustrative residential apartment buildings, not The Talia. Photo credit: Joel Durkee/Unsplash.
