PEF Advisors acquires Carroll Tower senior housing property in St. Charles, Illinois

  • Preservation Equity Fund Advisors acquired Carroll Tower, a 108-unit affordable senior housing property in St. Charles, Illinois.
  • Deal closed in July 2026, marking the firm’s third acquisition in the Chicago metro area.
  • Transaction restructured during escrow to secure a mark-up-to-market on the Section 8 contract, extending affordability by 20 years.
  • Capital plan targets deferred maintenance, property upgrades, restoring resident services.
  • Asset was 98.1% occupied at closing.


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