September 10, 2014

Land Sales Will Support Development of Vacant, New Residential Properties


Land sales passed by City Council today will create affordable homes on the Northwest and South sides.

Access Housing I LLC
The sale of four vacant, City-owned lots on scattered sites in Humboldt Park and West Town will lead to the construction of eight affordable apartments in four new buildings.

The homes will be built by Access Housing I LLC at 1746 N. Francisco Ave., 1917 N. Keystone Ave., 1941 N. Karlov Ave. and 2415 N. Harding Ave. Collectively appraised at $353,000, the lots will be sold for $1 each.

Each two-story building will contain two apartments with two-bedrooms and 1.5 baths. The ground floor units will be accessible for people with disabilities. All of the units will be rented to households earning up to 60 percent of area median income.

The proposed $2.8 million project will be funded by the Illinois Housing Development Authority.

Preserving Communities Together Program
A vacant, City-owned home at 6408 S. Langley Ave. in Woodlawn will be conveyed to Neighborhood Housing Services (NHS) Redevelopment Corp. for rehabilitation and sale as affordable housing.

NHS will rehabilitate the property and turn it into a model home to demonstrate to developers and aspiring renovators how to revitalize vacant properties in the surrounding community. The home will later be sold for a yet-to-be determined price to an owner/occupant earning up to 80 percent of area median income.

The rehabilitation work will be performed under the Department of Planning and Development’s Preserving Communities Together program, which reoccupies abandoned properties through their acquisition by the City and conveyance to qualified developers for rehabilitation and sale at affordable prices.

The City took possession of the home due to unpaid water and tax bills after it was abandoned approximately two years ago.


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