LA GRANGE PARK, Ill. — Ziegler has arranged $99.9 million in bond financing for Plymouth Place. The continuing care retirement community is located in La Grange Park, a village approximately 13 miles west of downtown Chicago.
Plymouth Place features 182 independent living units, 52 assisted living units, 26 memory care units and 82 skilled nursing beds. Plymouth Place was incorporated in 1939 and is located on approximately 18.6 acres.
The Illinois Finance Authority issued the bonds, which will be used for an expansion at the community. Known as The Arboretum Villas at Plymouth Place, the project will add 59 new independent living units within one two-story building, two three-story buildings, one four-story building and related common areas, parking and equipment. The new units are scheduled to open in 2024.
In addition to the villas, bond proceeds will be used to construct a connector building known as the Center for Healthy Living (CHL) as well as to create many outdoor common areas such as a yoga lawn, bocce ball and pickleball courts, and a fire pit.
Bond proceeds will also be used to reimburse Plymouth Place for certain renovations to the existing building, which include a new salon and spa, pub and marketplace store.