Chase Supports Chicago's Children's Memorial Hospital

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Executive Summary

The hospital seeks to address capacity and facility constraints. The current facility lacked sufficient beds - creating the potential for critically ill children to be turned away. Children's Memorial is constructing a new state-of-the-art building located in Chicago's downtown Streeterville neighborhood at an estimated cost of $915 million. The groundbreaking ceremony was held in April 2008 and the new facility is scheduled to open in 2012. In the spring of 2008, Children's Memorial began its Heroes for Life campaign with a total fundraising goal of $600 million, of which $375 million will go towards building the new children's hospital. Chase, Children's Memorial's principal commercial bank, assisted by providing a $196 million mixed-use credit facility primarily in support of the hospital's variable rate demand bonds.

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