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Deal Profile: Lake Park Crescent
$54MM acquisition of a 148-unit mixed income community in
Chicago.
Community went through a comprehensive renovation of more
than $72,000 per unit that upgraded unit interiors, common areas,
and exterior grounds.
Completed in partnership with HUD, the Illinois Housing
Development Authority (IHDA), Chicago Housing Authority (CHA)
and the City of Chicago Department of Housing (DoH).
As part of the transaction, sixty Chicago Housing Authority Public
Housing Units were converted to Project Based Vouchers under the
Rental Assistance Demonstration (RAD) program.
Amenities include a fitness center, community room, covered
parking, and laundry facility.
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