City officials joined with the NHP Foundation (NHPF) recently to reopen the renovated and restored Mark Twain. The historic property is among the largest remaining single-room occupancy (SRO) affordable housing developments on Chicago’s Near North Side.
NHPF’s $54.3-million renovation at 111 W. Division St. consists of 148 apartments, each equipped with rehabilitated private bathrooms and the addition of private kitchenettes. Other enhancements include new plumbing, mechanical and electrical systems; a rooftop deck, restoration of the vintage facade and lobby, and 9,600 square feet of upgraded retail on the ground floor.
“We are grateful for the opportunity to preserve this building and are excited about another SRO we will begin preserving later this year in Lincoln Park,” said Richard Burns, president and CEO of NHPF.
City financing for the project included $27.3 million in multifamily housing revenue bonds, a $5-million multifamily loan and $1.3 million in Low Income Housing Tax Credits.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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