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Rose Companies Acquires BJ Wright Apartments on Near West Side

One of the largest affordable housing developments on Chicago’s Near West Side has a new owner and a guarantee of affordability. The Jonathan Rose Companies has completed its purchase of the 272-unit Barbara Jean Wright Court Apartments from the Chicago Community Development Corporation for $17.5 million and has committed another $46 million to the rehabilitation of its apartments and common spaces.  

Rose senior managing director Nathan D. Taft said, “With the housing markets in the West Loop and Pilsen booming, all – including HUD, the city’s Department of Housing, the state, the alderpersons, the Chicago Housing Authority, the tenants and the tenant advocates –were united in our efforts to preserve this critical piece of affordable housing.”  

All but 21 units at BJ Wright will be preserved as affordable. Rose Companies will undertake extensive renovations of the property, which was last refurbished more than 20 years ago. 

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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).

  • ◦Sale/Acquisition
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