February 5, 2014

Land Sales Will Lead to Affordable Homes on the Northwest Side


Six affordable single-family homes will be built on scattered sites in Humboldt Park and West Town through land sales approved today by City Council.

The homes will be built by L&MC Investments LLC on City-owned lots located in an area bounded by Drake, Bloomingdale and Campbell avenues and Augusta Boulevard. Collectively appraised at $316,000, the lots will be sold to the developer for $1 each.

Each two-story, 1,840-square-foot home will have three bedrooms and 2.5 baths. To be priced at $199,000 apiece, they will be made available to households earning up to 120 percent of area median income; roughly $88,300 for a family of four.

Construction will start this spring.


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