Chicago has issued a $17.4 million building permit for an affordable housing project in the Washington Park neighbourhood at 5504 S. Michigan Ave. The project has an overall value of about $23 million.
The permit says there will be ground floor retail and 58 residences marketed for artists and their families.
The City of Chicago, providing both land and TIF subsidies for the project, indicates 49 of the apartments will be offered at an affordable rate for households earning as much as 60 per cent of the Area Median Income. The remaining nine units will be rented at market rates. The permit calls for 33 parking spaces.
Key subtrades include: Electrical – Jolen Electric, Inc.; masonry – Alright Concrete Co.; plumbing – Norman Mechanical; and refrigeration and ventilation – G.H. Heating & Cooling.