State gave Cellini $90 million-plus in low-interest loans

By TIM NOVAK AND DAVE McKINNEY Staff Reporters January 3, 2012 9:11AM

201 Lake St., Oak Park

Over the past 35 years, William F. Cellini has gotten more than $90 million in low-interest loans from the Illinois Housing Development Authority to build more than 4,000 apartments as affordable housing across the state. Pacific Management Inc. — whose owners include Cellini’s daughter and son-in-law — manages many of those buildings. Cellini still has an ownership stake in two of the apartment complexes — Heritage House in Oak Park and Park Glen in downstate Taylorville, which are part of the state’s affordable housing portfolio. Pacific Management gets a management fee of about 5 percent, according to sources.

Building	No. of apts.	When state Oked	Address
Sangamon Towers	212	August 1975	424 N. Fourth St., Springfield
Heritage House	200	November 1977	201 Lake St., Oak Park
Valleyview Heights	127	August 1978	1500 Valleyview Dr., Danville
Morningside North	256	May 1979	170 W. Oak St., Chicago
Linden Place	190	February 1981	700 E. Golf Rd., Arlington H
Morningside Court	171	May 1981	1250 W. Morse St., Chicago
Park Glen	125	July 1981	630 N. Webster, Taylorville
Court Place	160	September 1981	230 Court Place, Pekin
Charles Court	130	September 1984	300 N. Charles, Naperville
Montgomery Farms Senior Apartments	120	October 1996	1500 Briarcliff, Montgomery
Montclare Senior Residence	154	September 2000	6650 W. Belden, Chicago
Wood Glen	98	July 2001	199 North Ave., West Chicago
Montclare Senior Residence	102	June 2008	1200 E. 78th St., Chicago

Source: Illinois Housing Development Authority

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