MOUNT CARROLL, Illinois – Shimer Square Apartments, part of the mixed-use Shimer Square redevelopment here, is now accepting applications for its 51 studio, one-, two- and three-bedroom apartments.
Rock Island-based Economic Growth Corp. (GROWTH) and Yost Management Services announced that pre-leasing of the new apartments has begun. Units range in size from 462 to 1,093 square feet and rents range from $430 to $948 a month. Yost Management, the property manager, is handling all the leasing.
The new housing option is part of the redevelopment of the former Shimer College. It’s a $60 million reuse and renovation project being led by GROWTH.
In a Monday, Aug. 18 news release, GROWTH and Yost said the goal is to have all the units leased before completion of construction, which now is expected to be in October.
By preleasing, applicants can secure their apartment and move in once Shimer Square receives its Occupancy Permit, the release said.
All tenant applications are being handled exclusively by Yost Management. It can be reached at (217) 345-2414 or by visiting its website at www.YMS-Rentals.com. Applicants should select Shimer Square Apartments from the property list here.
Prospective tenants need contact information, valid ID, residential history (three years), rental references, employment information and proof of income and desired move-in date. For leasing questions, fill out the contact form.
The project’s history
GROWTH acquired the vacant college campus in 2018 and began planning for its redevelopment. In February 2024, GROWTH announced the closing of a complex financing package that paved the way for work to begin on the $33.4 million housing redevelopment portion of the project.
A Rebuild Illinois grant in 2023 also helped advance the campus reboot.
Less than two years earlier, in May 2022, GROWTH and Mount Carroll leaders celebrated the beginning of the campus redevelopment. The project will encompass the former college’s 14-acre footprint and will include new housing, entertainment, dining, fitness, business incubation, and artist and community space.
The campus boasts 17 buildings, former residential halls and instructional buildings built between 1903 and 1975.
Major reconstruction on the housing portion began in March 2024 when crews went to work on the $23.4 million conversion of McKee Hall/Hostetter and Dezendorf halls. In all, they have 51 new units of affordable housing.
Construction on the $2 million Early Childhood Development Center began in October 2024. The $2 million project broke ground in June that year after receiving a federal $800,000 grant.
The former Shimer College closed its Mt. Carroll campus in 1979.
