ChicagoAffordable Housing July 27, 2017 Chuck Sudo, Bisnow Chicago
The Preservation of Affordable Housing is adding to its Woodlawn portfolio. The firm acquired two apartment buildings near the site of the Obama Presidential Center for $1.5M and plans to renovate the buildings for low- to moderate-income housing for seniors.
POAH is buying the five-story Johnson at 6230 South Dorchester and the six-story Butler Lindon at 6146 South Kenwood from Woodlawn East Community and Neighbors (WECAN), a community development group.
The two properties total 105 units, a mix of studios, one-bedrooms and three-bedrooms.
Both buildings are minutes from the Obama Presidential Center site in Jackson Park.
POAH will replace the buildings' HVAC and mechanical systems, renovate the apartments for the first time in 15 years and make improvements to the properties' community rooms, kitchens, bathrooms, flooring, lighting and elevators. POAH will take over as property manager.