Evangelical Retirement Homes of Greater Chicago, Inc. (d/b/a Friendship Village of Schaumburg)

The case is now in a post-reorganization / Chapter 7 administration posture, with near-term activity centered on fee-application objections, a default matter, and a contested stay-relief schedule rather than an operating turnaround.

Friendship Village filed chapter 11 on June 9, 2023, after COVID-era occupancy and operating pressure, higher labor and supply costs, and capital needs strained a continuing care retirement community carrying roughly $140 million of bond debt and about $108 million of resident entrance-fee refund obligations. The first-day declaration described a 60-acre Schaumburg senior-living campus serving about 1,000 residents and sought authority to maintain ordinary-course operations, use cash collateral, preserve resident programs, and support utilities while the debtor pursued a restructuring backed by a bondholder agreement signed immediately before filing through the Flynn First Day DeclarationDkt. 16.

The debtor’s case path moved quickly from stabilization into a plan process: by October 2023, the debtor had filed a disclosure statement identifying the secured bond structure, including Series 2017 and guaranteed bond obligations secured by a Bond Trustee lien on substantially all debtor assets, as reflected in the Disclosure StatementDkt. 278. The later posture is litigation and administration-heavy. In April 2025, the trustee commenced an adversary proceeding seeking turnover, fraudulent-transfer, other recovery, and injunctive relief against Friendship Senior Options, former executives, directors, and related parties through the .