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Chicago & Midwest  + South Side  + Finance  | 

LIHTC Will Fund Rehab of Historic Woodlawn Apartments

Acquisition and rehabilitation of the historic Johnson Butler-Lindon Apartments, located in the South Side’s Woodlawn neighborhood, will begin this month. This follows the closing of a $7-million-construction loan and placement of $13 million in low-income housing tax credit equity from Associated Bank.

The Illinois Housing Development Authority issued the LIHTC for the project, and Associated partnered with Boston Capital to provide the equity. The renovation will be done by Preservation of Affordable Housing, in partnership with general contractor Powers and Sons Construction Company and Johnson & Lee Architects.

Located at 6230 S. Dorchester Ave., the Johnson building includes 64 units in a five-story elevator building. The Butler-Lindon building (pictured) at 6146 S. Kenwood Ave. has 42 units in a six-story elevator building. The buildings are located 0.2 miles from each other.

The project is part of the last phase in the implementation of the Choice Neighborhoods Initiative, a federal program.

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About Paul Bubny

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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Sale/Acquisition
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