About Retirement Communities in Illinois

Are you an Illinois senior moving into retirement and you aren't sure about the process? Well, you are not alone. Every day Illinois seniors meet with retirement community directors to discuss living conditions, fees and what to expect as a resident at the facility. While this process can be lengthy, it doesn't have to be tedious. With the following guidelines and tips, you can find the right retirement community in Illinois to meet your needs.

Significance

The most important part of retirement planning is knowing your options. This means understanding the types of retirement communities available in Illinois and understanding the residential and medical services provided by these senior living communities.
Generally, most communities include independent living quarters that are usually housed as apartment units or single family homes. These quarters are limited to seniors with minimum assistance requirements.
Assisted living facilities are available for seniors who require assistance with bathing and personal grooming as well as daily tasks like cleaning and grocery shopping. Nursing facilities are available for seniors in need of 24-hour medical assistance. These facilities house a permanent nursing team for full-time assistance to community residents.

Size

Retirement communities in Illinois vary by price with costs ranging from $20,000 to $200,000 or more. These variations depend on a number of factors including frequency and type of services provided, type of retirement community (e.g. independent living facility, assisted living facility or nursing home) and location. Monthly fees generally average $2,000, with some medical care requiring additional fees.

You will need to provide proof of income, and in some cases, have assets equal to three or four times the entrance fee. Some communities require entrants to have disposable income double the monthly fee amount. These conditions will vary by facility. If additional daily medical care fees will be applied, you may have to provide a deposit in advance of the services. For instance, daily nursing fees, which can range from $90 to $300 on average, may either be added to the monthly fee amount or be paid as part of a higher entrance fee.

Features

The Illinois Department of Revenue provides tax exemptions for qualifying Illinois senior citizens. According to the State of Illinois official website, "The Senior Citizens Homestead Exemption (35 ILCS 200/15-170) on properties of residents 65 years of age or older increased in 2007 from $3,500 to $4,000 for the 2008 tax year." Additionally, "The current Senior Citizens Assessment Freeze Homestead Exemption (35 ILCS 200/15-172) maximum household income levels for eligibility to freeze a property's EAV increased in 2007 from $50,000 to $55,000."

Most retirement communities meet IRS requirements for tax-exempt status with adherence to IRS rules for rate structure, contracts and other policies. However, not all facilities are tax -exempt. Private property independent living quarters, housed as apartment units or single family homes, may fail to meet eligibility if purchased as independent structures within a larger retirement community. Nursing homes and assisted living facilities do not qualify for property tax exemptions, as occupants do not own the property.

Function

Illinois has a large number of active adult communities. Facilities like Alden Courts of Waterford, Alden Gardens of Waterford and Pinecrest Grove all provide activities such as tennis, ocean tours, a country club, recreation and sports rooms, walking and biking trails, a swimming pool and other community enrichment programs.

These facilities are all community-focused for seniors still active and able to participate in group activities.

Considerations

Independent living facilities are common in Illinois with private independent living quarters that offer senior residents a balance of privacy and community. Beacon Hill (2400 South Finley Road, Lombard, Illinois, 60148), Angelus Retirement Community Of McHenry (3300 Charles J Miller Road Apt 145, McHenry, Illinois, 60050) and Godair Park (6101 S. County Line Road, Burr Ridge, Illinois, 60527) are all great examples of independent living facilities. All offer a tranquil residential experience with cultural and extracurricular activities for residents.

Potential

Illinois senior citizens can also choose from the following options: active adult communities, adult day services, assisted living, Alzheimer's care, continuing care, home and hospice care, and senior centers.

Warning

Verify if the retirement community is accredited by the Continuing Care Accreditation Commission. To check, visit the CCAC's website.

When interviewing with the community director, ask about the staff medical team and how medical care is provided to residents. Inquire about the differences between their assisted living and nursing home care facilities to determine the advantages of both.

Resources

• Illinois Department of Revenue
• Retirement Community Guidelines