Multifamily N Illinois
From left to right: Jeffrey Rappin of Evergreen Real Estate Group, Andre Pintauro of Evergreen Construction Company, Douglas Leezer of Citi Community Capital, John T. Hooker of Chicago Housing Authority, Thomas Applegate of North River Commission, Andy Decoux of Illinois Housing Development Authority, David Block of Evergreen Real Estate Group, 35th Ward Ald. Carlos Ramirez-Rosa, Jeanne Gieseke of U.S Bancorp Community Development Corporation, Steve Rappin of Evergreen Real Estate Group, Jaime Torres of Canopy Architecture + Design and Eric Meyer of Evergreen Real Estate Group.

Construction begins on Albany Park affordable housing project

Evergreen Real Estate Group, in partnership with the Chicago Housing Authority, announced the start of construction on Oso Apartments, a 48-unit affordable rental community at 3435 W. Montrose Avenue in Chicago’s Albany Park neighborhood. Evergreen and CHA representatives joined 35th Ward Alderman Carlos Ramirez-Rosa, officials from the Illinois Housing Development Authority (IHDA) and other community stakeholders at a ceremonial groundbreaking on Oct. 11.

Multifamily N Illinois
Hinsdale Lake Terrace, Willowbrook, Illinois. 

Avanth acquires two affordable multifamily properties for $72M

Avanath Capital Management, LLC has acquired two affordable multifamily properties totaling 668 units in the Chicago metro through an institutional fund, Avanath Affordable Housing III, for a combined total of $72.2 million. The properties include the 582-unit Hinsdale Lake Terrace in Willowbrook, Illinois and the 86-unit Drexel Court in Chicago. Both are mid-1900s-era affordable housing properties in economically thriving submarkets.

Multifamily N Illinois
5320 N. Glenwood Avenue in Chicago’s Andersonville neighborhood.

Interra Realty brokers $6.5M in sales in Chicago’s Andersonville Neighborhood

Interra Realty, a Chicago-based commercial real estate investment services firm, brokered the $3.75 million sale of a 12-unit multifamily building and adjacent lot on Glenwood Avenue in Chicago’s Andersonville neighborhood. In a separate transaction, also within Andersonville, the firm brokered the $2.8 million sale of a 20-unit rental building along Hermitage Avenue.