December 3, 2023
Ogden Commons Part 2 secures financing

Chicago-based The Habitat Firm introduced that it has secured financing for Part 2 at Ogden Commons, a $200 million mixed-use, mixed-income undertaking. Positioned in North Lawndale, the undertaking is bounded by W. Ogden Ave to the south, S. Fairfield Ave to the west and S. Rockwell St to the east. Developed by The Habitat Firm, together with Sinai Well being System, Alecko Capital, and the Metropolis of Chicago, Ogden Commons is town’s largest alternative zone undertaking and was conceived to deliver much-needed housing, retail and demanding outpatient well being companies to Chicago’s traditionally underserved West Facet.

Ogden Commons Part 2 secures financing
Ogden Commons The Habitat Firm

With financing in place, building has began on OC Residing’s first section, a 92-unit constructing that may encompass 90% inexpensive residences with the rest market-rate. Positioned at 1325 S. Washtenaw, the four-story rental constructing will supply a mixture of 23 studios, 60 one-bedrooms and 9 two-bedroom residences. 

Ogden Commons ResidentialThe Habitat Firm

The constructing’s out of doors facilities will embrace an enclosed rubber-surfaced kids’s tot lot with play constructions, bike racks, a lighted on-site strolling path, landscaped garden and 110 parking stalls. Indoor facilities, positioned on the constructing’s first flooring, embrace package deal and mail rooms, administration and social companies places of work, a health middle and bike room.

Ogden Commons Residential GroundbreakingThe Habitat Firm

The brand new residential constructing will likely be simply steps from Ogden Commons’ three-story industrial constructing that marked Part 1 of the 10-acre growth and was accomplished in 2021. The 30,000 square-foot industrial constructing features a Wintrust Financial institution, Momentum Espresso and Sinai Well being System’s One Lawndale Specific Care Clinic.

Ogden Commons Part 1The Habitat Firm

“We’re overjoyed by the optimistic suggestions and impression Ogden Commons is already having on the North Lawndale neighborhood within the quick period of time for the reason that opening of the industrial constructing and Sinai’s outpatient well being services,” stated Matt Fiascone, president of The Habitat Firm. “With the primary residential constructing breaking floor, we at the moment are one step nearer to fulfilling our imaginative and prescient of a multi-faceted, mixed-use neighborhood that mixes important healthcare, housing, retail and workplace house in a single location, whereas creating new employment alternatives and boosting the native economic system.”

The residential constructing is scheduled to be delivered by Spring 2024, with McHugh Development and Bowa Development serving as normal contractors. Constructed over a number of phases, the complete undertaking is scheduled to be full by 2026.