Gurnee, Illinois, September 11, 2025
News Summary
The Gurnee Village Board has approved Liberty Point Residences, a 40-unit workforce housing development on a 2.2-acre site. This project aims to provide affordable rental options with a mix of one-, two-, and three-bedroom units for households earning between 30% and 80% of Lake County’s median income. Developers plan to start construction early next year, following unanimous local approvals, and the apartments will include a 30-year deed restriction to maintain affordability.
Gurnee Approves 40-Unit Workforce Housing Project on Last Woodlake Parcel
Liberty Point Residences cleared for construction to provide long-term affordable apartments near the Tri-State Tollway
The Gurnee Village Board has unanimously approved the construction of Liberty Point Residences, a 40-unit workforce housing development planned for a 2.2-acre parcel east of Route 21 and near the Tri-State Tollway. The approval included the necessary zoning and density variations and moves the project from plan to construction readiness.
The development will be built as a three-story building and will offer a mix of unit sizes: 16 one-bedroom units, 14 two-bedroom units, and 10 three-bedroom units. The site is the last undeveloped parcel in the Woodlake subdivision and sits among existing Woodlake and Gurnee Glen apartments as well as some vacant single-family parcels.
The project is a partnership between two Wisconsin-based developers: Northpointe Development Corporation of Oshkosh and Dream Lane Real Estate Group of Madison. Developers plan to begin construction in February or March, with an estimated construction period of roughly one year.
As part of the plan to keep units affordable over the long term, the developers have committed to a 30-year deed restriction. The apartments will be reserved for households earning between 30% and 80% of Lake County’s median income. Monthly rents will be tiered by income level: for households at the 30% level, one-bedroom rents will range from $675 to $935, while households at the 80% level will pay between $1,800 and $2,400.
Financing for Liberty Point Residences is being provided primarily through housing tax credits administered by the Illinois Housing Development Authority (IHDA). The project is part of a broader IHDA effort that recently approved 16 affordable housing developments statewide, creating or preserving a total of 850 affordable homes across Illinois.
Village planning and zoning officials recommended the project unanimously earlier this week, and the village board followed that recommendation with its own unanimous approval. The parcel had been vacant for many years and posed development challenges because of its multiple street frontages and required setbacks. Those constraints were addressed through the zoning and density variations approved alongside the project.
The development plan includes community amenities and open space. Site plans call for a walking path that will connect to an existing path leading to Lake Carina Forest Preserve, increased green space, a common outdoor seating area with grills, and a playground. These features are intended to provide outdoor options for residents and to connect the site with nearby recreational areas.
The project has drawn support from local groups and residents who say the area needs more affordable housing. Endorsements include local chapters of housing advocacy organizations that work to preserve and expand affordable units. Supporters noted that a range of affordable housing options can help residents who are struggling, attract younger families, and support local economic stability.
Local officials say the village already exceeds the IHDA-mandated 10% affordability threshold on the IHDA Affordability List, an indication of ongoing local efforts to keep housing options available for lower- and moderate-income residents. Liberty Point Residences will add to that inventory and is being positioned as part of the village’s broader response to housing needs.
Project leaders described the development as a response to diverse community needs and framed it as housing that can serve workers, families, and others seeking lower-cost rental options within the area. With construction slated to start early next year and a development timeline of about 12 months, Liberty Point Residences is expected to bring new affordable rental choices to the neighborhood within a relatively short period.
What comes next
With approvals complete, teams will finalize permits, secure tax-credit financing details, and begin site preparation ahead of the planned construction start in late winter. The 30-year deed restriction will be recorded before or during the early stages of construction to ensure long-term affordability once units are occupied.
Frequently Asked Questions
Q: What is being built?
A 40-unit workforce housing building called Liberty Point Residences. It will be three stories with one-, two-, and three-bedroom apartments.
Q: Where is it located?
The site is a 2.2-acre parcel east of Route 21, near the Tri-State Tollway, in the Woodlake subdivision. It is the last undeveloped parcel in that subdivision.
Q: Who is developing the project?
The development is a collaboration between Northpointe Development Corporation and Dream Lane Real Estate Group.
Q: Who will qualify to live there?
Apartments will be set aside for households earning between 30% and 80% of Lake County’s median income under a 30-year deed restriction.
Q: How much will rent be?
For households at 30% of median income, one-bedroom rent will range from about $675 to $935 per month. For households at 80% of median income, rent will range from about $1,800 to $2,400 per month.
Q: When will construction start and finish?
Construction is expected to begin in February or March and take roughly one year to complete.
Q: How is the project being financed?
The project is primarily financed through housing tax credits administered by the Illinois Housing Development Authority (IHDA).
Key Project Features
| Feature | Details |
|---|---|
| Project name | Liberty Point Residences |
| Units | 40 total — 16 one-bed, 14 two-bed, 10 three-bed |
| Site | 2.2-acre parcel east of Route 21, near the Tri-State Tollway (last Woodlake parcel) |
| Affordability | Reserved for households at 30%–80% of Lake County median income; 30-year deed restriction |
| Rent ranges (one-bed) | $675–$935 (30% AMI); $1,800–$2,400 (80% AMI) |
| Amenities | Walking path to Lake Carina Forest Preserve, green space, outdoor seating with grills, playground |
| Developers | Northpointe Development Corporation and Dream Lane Real Estate Group |
| Financing | Primarily through IHDA housing tax credits; part of 16 IHDA projects creating/preserving 850 homes |
| Timeline | Construction expected to begin Feb–Mar; about 1 year to complete |
| Local approvals | Unanimous planning and village board approvals; zoning and density variations granted |
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Additional Resources
- Daily Herald: Gurnee Board Approves 40-Unit Workforce Housing Plan
- Wikipedia: Workforce Housing
- Daily Herald: Gurnee to Consider 40-Unit Workforce Housing Proposal
- Google Search: Affordable Housing
- Housing Finance: IHDA Awards LIHTCs to 16 Developments
- Encyclopedia Britannica: Housing
- Chicagoland Journal: Pritzker Administration Announces Affordable Housing Developments
- Google News: Illinois Housing Development
