Four Senior Suites Apartments' locations received approval to modify their mortgage loans following a vote by Chicago's City Council. The properties are Senior Suites of Hegewisch, Senior Suites of Jefferson Park, Senior Suites of West Humboldt Park, and Senior Suites of South Shore.

The ordinance will allow the Senior Suites of Hegewisch, Jefferson Park, and West Humboldt Park to:

1. Subordinate to a new mortgage loan.
2. Modify its HOME loan maturity date to 12/31/2043.
3. Extend the HOME loan affordability period to 12/31/2034.

This action will preserve 84, 81, and 88 units-respectively-for seniors at or below 60% of the Area Median Income (AMI) until at least 2034.

The ordinance will also allow the Senior Suites of South Shore to:

1. Modify its HOME loan maturity date to 12/31/2043.
2. Extend the HOME loan affordability period to 12/31/2034.

This action will preserve 96 units for seniors at or below 60% AMI until at least 2034.