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Alliant Capital Closes $82M Lawson House Investment
Alliant Capital closed on its $82-million investment in Lawson House, a historic 24-story Art Deco building in downtown Chicago’s Near North neighborhood. Holsten Real Estate Development Corporation, a Chicago-based developer, will commence a two-year-long renovation of the property, which will provide 409 studio units and supportive services for individuals with special needs or at risk of homelessness.
Originally built in 1931, the Victor F. Lawson YMCA opened as a single room occupancy hotel serving Chicago residents starting in the Great Depression. The YMCA sold the property to Holsten in 2014 with the expectation the property would remain affordable housing for at least 50 years.
“This is the 11th affordable housing investment we have made with Holsten in Chicago, so we know how high quality the renovation will be when the property reopens to residents in 2024,” said Alliant Capital EVP Dudley Benoit.
Photo credit: Jim Roberts/Wikipedia.
- ◦Sale/Acquisition
- ◦Development
