{{Short description|Skyscraper in Chicago, Illinois}} {{Use American English|date=February 2025}} {{Use mdy dates|date=February 2025}} {{Advert|date=March 2017}} {{Infobox building |name = The Clare |status = Complete |image = |caption = |location = 55 E. Pearson St. Chicago, Illinois |coordinates = |construction_start_date = 2006 |completion_date = 2009 |architect = Perkins+Will |owner = LCS Life Care Services LLC |floor_count = 53<ref>{{cite web|url=http://www.emporis.com/en/wm/bu/?id=streetclareatwatertower-chicago-il-usa |archive-url=https://web.archive.org/web/20061211202905/http://www.emporis.com/en/wm/bu/?id=streetclareatwatertower-chicago-il-usa |url-status=usurped |archive-date=December 11, 2006 |title=The Clare at Water Tower, Chicago | 181219 |publisher=Emporis.com |date= |accessdate=2015-04-23}}</ref> |building_type = Residences |renovation_date = 2016 |roof = {{convert|179|m|ft|abbr=on}} }}
'''The Clare''' (formerly The Clare at Water Tower) is a high-rise independent living community for seniors. It is situated on the Loyola University Chicago Water Tower Campus in Chicago's Gold Coast at Rush Street & Pearson Street. It is a continuing care retirement community senior-living community in the Gold Coast that offers a LifeCare contract. The 53-story building is designed by Perkins and Will, and is one of the tallest buildings reserved for senior citizens in the world.<ref>{{cite web |author=Bruce |url=http://www.chicagonow.com/aging-in-chicago/2011/11/the-clare-at-water-tower-a-post-mortem/ |title=The Clare at Water Tower: A Post Mortem | Aging In Chicago: Understanding the World of Elder Care Services |publisher=Chicagonow.com |date=2013-04-28 |accessdate=2015-04-23 |archive-date=August 28, 2018 |archive-url=https://web.archive.org/web/20180828211328/http://www.chicagonow.com/aging-in-chicago/2011/11/the-clare-at-water-tower-a-post-mortem/ |url-status=dead }}</ref> This building also includes 50,000 square feet (4,600 square meters) of classroom space at the bottom to replace two small classroom buildings belonging to Loyola University Chicago.
Until November 2011, The Clare was owned and operated by the Franciscan Sisters of Chicago,<ref name=CRED/> a religious organization that runs senior care facilities throughout the Midwest.<ref>{{cite web |url=http://www.franciscancommunities.com/find_a_community/index.cfm |title=Franciscan Communities |publisher=Franciscaancommunities.com |accessdate=23 October 2012 |archive-date=January 19, 2016 |archive-url=https://web.archive.org/web/20160119023053/http://franciscancommunities.com/find_a_community/index.cfm |url-status=dead }}</ref> On November 15, 2011, The Clare filed for bankruptcy protection from creditors after failing to make debt payments.<ref name=CRED>{{cite web |url=http://www.chicagorealestatedaily.com/article/20120412/CRED03/120419898/clare-at-water-tower-sold-in-bankruptcy-auction |title=Clare at Water Tower sold in bankruptcy auction |work=Chicago Real Estate Daily |first=Ryan |last=Ori |publisher=Chicagorealestatedaily.com |date=12 April 2012 |access-date=October 23, 2012 |archive-date=April 15, 2012 |archive-url=https://web.archive.org/web/20120415190757/http://www.chicagorealestatedaily.com/article/20120412/CRED03/120419898/clare-at-water-tower-sold-in-bankruptcy-auction |url-status=live }}</ref> At the time, the building was only 34% occupied.<ref name=CRED/> The property was sold in a bankruptcy auction to Senior Care Development, LLC, a Harrison, New York–based non-denominational senior care company.<ref name=CRED/> The property is managed by Life Care Services.<ref> {{cite web |url=http://theclare.com/about/leadership/ |title=The Clare - Leadership |publisher=theclare.com |accessdate=27 January 2015 }}</ref>
From 2014 to 2016, The Clare's occupancy increased from 44% to 98% and now has a wait list for larger units. In 2016, The Clare underwent extensive renovations, including transforming the Grand Lobby, adding a Bistro Café to the ninth floor, overhauling the 53rd floor into a third dining venue called The Abbey on 53, and upgrading the layout and décor of the Grafton Dining Room.
In early 2020, The Clare was sold to Des Moines, Iowa–based LCS, which is the second-largest operator of senior living communities in the United States. The sale closed for an estimated $105 million.<ref>{{cite web| url = https://www.chicagobusiness.com/commercial-real-estate/revamped-luxury-senior-living-tower-sold-105-million| title = Chicago Near North Side senior living building sells for $105 million {{!}} Crain's Chicago Business| access-date = September 8, 2021| archive-date = September 8, 2021| archive-url = https://web.archive.org/web/20210908035706/https://www.chicagobusiness.com/commercial-real-estate/revamped-luxury-senior-living-tower-sold-105-million| url-status = live}}</ref>
==Photo gallery== <gallery> File:20080116 The Clare @ The Water Tower.jpg|2008-01-16 File:20080514 The Clare at Water Tower.JPG|2008-05-14 File:20080514 Mike Ditka Way crosses Rush St. in front of The Clare.JPG|2008-05-14 </gallery>
==See also== * List of tallest buildings in Chicago
==References== {{Reflist}}
==External links== * [http://theclare.com The Clare website] * [https://www.facebook.com/theclarechicago The Clare Facebook page] * [https://www.yelp.com/biz/the-clare-chicago The Clare Yelp page]
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{{DEFAULTSORT:The Clare}} Category:Residential skyscrapers in Chicago Category:2009 establishments in Illinois Category:Residential buildings completed in 2009