This is an artists rendering of the new Aledo Northside Lofts. The 30-unit multi-million project is expected to open in 2027. CREDIT GROWTH
ALEDO, Illinois – With Illinois Housing Development Authority approval of nearly $2.5 million in funding the effort to transform the old junior high into the Northside Lofts development took a critical step forward, Economic Growth Corporation announced today. The Rock Island-based GROWTH called the IHDA Board’s Friday, June 20, vote to financially back the project […]
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ALEDO, Illinois – With Illinois Housing Development Authority approval of nearly $2.5 million in funding the effort to transform the old junior high into the Northside Lofts development took a critical step forward, Economic Growth Corporation announced today.The Rock Island-based GROWTH called the IHDA Board’s Friday, June 20, vote to financially back the project at 205 N. College Ave. “a major milestone in the long-anticipated adaptive reuse and revitalization of the former Aledo Junior High School.” According to the IHDA, the resolution approved funding for the project which included $1,316,057 in federal tax credits, a $1.1 million loan and $375,000 in state tax credits.Construction on the project is expected to begin in early 2026 once all the financing is in place, and it’s expected to be ready for occupancy in 2027.The former Aledo Junior High School was built in 1922 and has been vacant since 2003. This was the fourth effort by GROWTH and the City of Aledo to capture the highly competitive and complex financing from the IHDA needed to move the project forward.To win IHDA funding, Aledo – with its population of about 3,600 – faced stiff competition from other developments across the State of Illinois including medium and large metropolitan areas.The project got its official start in 2021, but Aledo Mayor Chris Hagloch and the Aledo City Council first targeted the former school building for redevelopment as early as 2018. Northside Lofts gained momentum, however, when the building was purchased by W.J. and Crista Albertson. The couple, who are former Aledo residents, and their Winborn Group have been buying and giving new life to historic downtown buildings including Aledo Opera House.
Bringing vibrancy to city
Mr. Albertson reached out to GROWTH about creating housing at the vacant building for people who live and work near Aledo and the development specialists quickly signed on.“Crista and I met at Northside so we are so happy that this vacant school will now bring life to the downtown again,” he told the QCBJ today, June 24.“Getting started in 2020, we knew to bring LIFE to the Downtown, we had to bring LIVES Downtown so 30 more residents in the historic district is going to be a real blessing toward its vibrancy,” he added in an email.After landbanking the building, Windborn Group cleaned it out and took steps to preserve the building until it was bought by GROWTH in December 2023. The discounted price led to additional resources for the school’s redevelopment through State Donation Tax Credits. The city also supported the initiative through $250,000 in Tax Increment Financing (TIF). They also submitted letters of support to help move the redevelopment forward.Mayor Hagloch said in the GROWTH news release, “Northside Lofts is not just about housing, it’s about honoring its past while investing in the future of Aledo.”He added “The level of support and collaboration behind this project shows just how committed our community is to revitalizing the former Aledo Junior High School. This development is a major step forward in strengthening our city’s housing options, community connections, workforce readiness, and overall quality of life.”GROWTH also has reason to celebrate this critical step in a development it said in the June 23 release “has been years in the making – requiring vision, persistence, and a steadfast commitment to advancing workforce housing. The development team persevered through multiple attempts and challenges to bring Northside Lofts to this pivotal point.”
Testament to Aledo's future
With Aledo’s recent growth and efforts to expand housing options, Northside Lofts also will serve as a cornerstone in meeting the future housing needs of the local workforce. The old Aledo Junior High School, which has been vacant since 2003, is awaiting transformation into the Northside Lofts. CREDIT GROWTH“This development represents a powerful example of what’s possible when a passionate and committed development team works with vision and perseverance to bring new life into a long-vacant, historic building,” GROWTH President and CEO Brian Hollenback said in the release.“Northside Lofts celebrates and restores the rich heritage of this historic property, welcomes it into the tax base, and will provide high-quality workforce housing with unmatched amenities,” he added. “It’s a testament to Aledo’s growth and future, and it will help meet the growing demand for workforce housing while contributing to Aledo’s long-term planning.”GROWTH said the Northside Lofts’ overall “hard construction investment of more than $11.5 million” will “deliver high-quality, energy-efficient rental units designed for working families and individuals.”It includes adaptive reuse of the existing three-story building into 24 apartments and the construction of a new adjoining wing to create an additional six units. Northside will feature a mix of studio, one-bedroom, and two-bedroom layouts, all equipped with Energy Star appliances, in-unit washer and dryers, and designed for accessibility with seven accessible units, and all units 100% adaptable.
Development team
Northside Lofts is being developed through a partnership between GROWTH and Basileia Investments. The project team brings together deep expertise in adaptive reuse, community development, and affordable housing, GROWTH said.Growth General Contracting LLC will serve as the general contractor. Baranski Hammer Moretta Sheehy Architects & Planners will provide architectural services. Legal counsel is provided by Applegate & Thorne-Thomsen, and Home Base Property Management LLC will oversee ongoing property management upon project completion.The project leaned heavily on community input and outreach events hosted by GROWTH to shape the building’s future. GROWTH said the amenities at Northside Lofts will far exceed what is currently available. Among the changes are converting the historic gymnasium into a multifunctional community space featuring co-working areas, a fitness zone, bike-share program, gaming lounge, and on-site HUD-approved housing counseling and financial literacy services. Outdoor amenities will include a community playground, basketball/pickleball court, and a community garden to create “vibrant spaces for families and neighbors to connect,” GROWTH said.
Strong local support
The project garnered widespread community backing, and received strong letters of support to share with IHDA from Illinois Sen. Neil Anderson, R-Andalusia; Rep. Norinne Hammond, R-Macomb; Aledo Main Street; Mercer County Better Together; MercyOne Genesis – Aledo; Project NOW; Warren County Public Transportation; and local realtors.“Their collective support reflects a unified community vision, linking ongoing, community-driven efforts throughout Aledo with the transformation of this historic building into a lasting community asset,” GROWTH said.With a projected 12-month construction schedule, Northside Lofts will be ready for occupancy in 2027. It will deliver affordable, accessible, and energy-efficient homes for the next generation of Aledo residents, GROWTH said. A landing page has been established for those potential residents wishing to be placed on the preliminary wait list, for a 2027 move in, at https://www.northside-lofts.com/.
The Rock Island-based GROWTH called the IHDA Board’s Friday, June 20, vote to financially back the project at 205 N. College Ave. “a major milestone in the long-anticipated adaptive reuse and revitalization of the former Aledo Junior High School.”
According to the IHDA, the resolution approved funding for the project which included $1,316,057 in federal tax credits, a $1.1 million loan and $375,000 in state tax credits.
Construction on the project is expected to begin in early 2026 once all the financing is in place, and it’s expected to be ready for occupancy in 2027.
The former Aledo Junior High School was built in 1922 and has been vacant since 2003. This was the fourth effort by GROWTH and the City of Aledo to capture the highly competitive and complex financing from the IHDA needed to move the project forward.
To win IHDA funding, Aledo – with its population of about 3,600 – faced stiff competition from other developments across the State of Illinois including medium and large metropolitan areas.
The project got its official start in 2021, but Aledo Mayor Chris Hagloch and the Aledo City Council first targeted the former school building for redevelopment as early as 2018.
Northside Lofts gained momentum, however, when the building was purchased by W.J. and Crista Albertson. The couple, who are former Aledo residents, and their Winborn Group have been buying and giving new life to historic downtown buildings including Aledo Opera House.
