1300 West Devon Avenue, Chicago, IL
Three Corners Development, Inc. was engaged by Heartland International Health Centers to turnkey develop its Federally Qualified Health Center at 1300 West Devon Avenue (just west of Sheridan Road) in Chicago’s Rogers Park neighborhood area. Heartland Health Center-Devon was years in planning, as Heartland’s Board of Directors and its talented Executive Staff joined with community stakeholders and elected officials to commit to bringing the center to fruition. Their patient efforts resulted in the first Federally Qualified Health Center in the state of Illinois to achieve LEED Platinum designation!
Three Corners Development, Inc., together with the design + build team at Madison Construction, set a new standard for delivery method for non-profit healthcare design and construction. The Heartland Health Center- Devon project culminated when Three Corners’ project team, over a compressed 15 month development schedule completed site feasibility, obtained site control, designed and constructed the project under a creative financial structure that included $13.5 million in combined Federal and State New Market Tax Credit investment by U.S. Bank Community Development Corp.
In addition to the NMTC investment the Heartland Health Center - Devon was financed with Capital Development Board grant funds, and other grants associated with completing the LEED Platinum elements. Three Corners Development, Inc. provided bridge financing for the entire $8.5 million project budget and along with U.S. Bank Community Development Corp and the Illinois Capital Development provided a complete financial structure, including a significant investment from Three Corners, in order to fully realize Heartland’s vision.
Heartland Health Center – Devon’s mission is to provide much needed primary care services to the Rogers Park, Edgewater and West Ridge communities. It has also catalyzed the development of a fallow stretch of Devon Avenue that serves as the gateway to Sheridan Road to the east. Over $20 million of community and economic development has taken place since it opened its doors in 2014. Heartland Health Center-Devon is truly the “pebblein- the-pond” when it comes to community development.
Start: February 2013
Completion: July 2014
Total Development Cost: $8,500,000
Gross Square Footage: 9,200 SF
Developers: Three Corners Development
Architect: MDT Architects
General Contractor: Madison Construction
Owner: Heartland International Health Centers