Federal Home Loan Bank of Chicago Celebrates Grand Opening of Brainerd Senior Center

CHICAGO--(BUSINESS WIRE)--Representatives from the Federal Home Loan Bank of Chicago (FHLBank Chicago), BMO, Full Circle Communities, and community partners joined residents and local stakeholders on March 6 to celebrate the grand opening of Brainerd Senior Center, a newly rehabilitated affordable senior housing community on Chicago’s South Side.

FHLBank Chicago awarded a $900,000 Affordable Housing Program (AHP) grant through member BMO to support the rehabilitation of Brainerd Senior Center, helping preserve long-term affordable housing for seniors, including seniors with disabilities. In addition to the AHP grant, BMO also provided $11.8 million in construction financing and a $2.1 million permanent loan for the project.

Located on South Loomis Street in Chicago’s Washington Heights neighborhood, Brainerd Senior Center provides 60 affordable studio, one-, and two-bedroom apartments for adults age 55 and older. The six-story building is located steps from the Brainerd Metra Station and has undergone extensive renovations to modernize units, expand accessibility, and improve building systems while reducing reliance on fossil fuels.

The rehabilitation preserved existing affordable housing while addressing critical building needs, including roof and mechanical system replacements, new unit finishes and fixtures, and upgrades to common areas. Resident amenities include a community room, laundry and storage rooms, outdoor patios, and improved shared spaces designed to support connection and independence.

On-site supportive services are provided by Christian Community Health Center and focus on health and wellness, recreation, and social engagement. Services are voluntary and designed to help residents maintain stability and age safely in place.

“This rehabilitation was about more than updating a building — it was about ensuring residents can continue to age with dignity, stability, and access to the services they need,” said Lindsey Haines, Interim President & CEO of Full Circle Communities. “Brainerd Senior Center has long been home to this community, and we’re proud to reinvest in a place where seniors can feel supported, connected, and secure.”

“Preserving affordable housing for seniors requires sustained investment and trusted partnerships,” said Carl Jenkins, Managing Director and Group Head, Community Capital Solutions, BMO. “We’re proud to work alongside FHLBank Chicago and Full Circle Communities to help extend the life of Brainerd Senior Center and ensure these homes remain affordable and accessible for seniors in Chicago.”

AHP grants subsidize the acquisition, new construction, or rehabilitation of rental or owner-occupied housing. Delivered in partnership with FHLBank Chicago financial institution members, these forgivable grants help address ongoing housing supply challenges by expanding access to quality affordable housing across Illinois and Wisconsin.

“Brainerd Senior Center reflects the importance of reinvesting in existing affordable housing so it can continue to meet residents’ evolving needs,” said Katie Naftzger, SVP and Community Investment Officer at FHLBank Chicago. “We value our partnership with BMO and Full Circle Communities and are proud to support a project that preserves affordability while enhancing quality of life for senior residents.”

Brainerd Senior Center was developed by Full Circle Communities with support from BMO, FHLBank Chicago’s Affordable Housing Program, Cordogan Clark, GMA, Christian Community Health Center, the Illinois Housing Development Authority, the City of Chicago, ComEd Energy Efficiency, and other public and private partners.

About the Federal Home Loan Bank of Chicago

FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members’ customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit fhlbc.com.