HEARTS UNITED HOMES
The acquisition of various vacant, City-owned lots located on scattered sites and the construction on those lots of 14 detached “two flat” (i.e. duplex) buildings with a total of 28 housing units plus 28 parking spaces
PROJECT TYPE: | For-Sale Housing
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DEVELOPERS: | Bonheur Development Corporation and Hearts United Community Development
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GENERAL CONTRACTOR: | Monterrey Contractors, Inc.
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ARCHITECT: | Lisec & Biederman, Ltd.
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INVESTOR FUND: | Community Reinvestment Fund 2000 L.P.
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PROJECT OWNER: | Hearts United Homes Limited Partnership
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PROPERTY ADDRESS: | 516 E. 41st St.,
525 E. 41st St.,
531 E. 41st St.,
658 E. 42nd St.,
660 E. 42nd St.,
605 E. Bowen Ave.,
610 E. Bowen Ave.,
631 E. Bowen Ave.,
646 E. Bowen Ave.,
647 E. Bowen Ave.,
651 E. Bowen Ave.,
700 E. Bowen Ave.,
708 E. Bowen Ave.,
715 E. Bowen Ave.,
Chicago, Illinois
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NEIGHBORHOOD: | Grand Boulevard
Located in Low-Income census tract (at time initial investment)
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NUMBER OF BUILDINGS: | 14 “two-flat” buildings
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TOTAL NUMBER OF
RESIDENTIAL UNITS: | 28
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AFFORDABILITY: | All units initially projected to be affordable to moderate- income homebuyers
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TOTAL COST: | $3,057,921
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CRF CAPITAL
(net to project): | $ 350,000
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