ROOSEVELT HOTEL
Rehabilitation of the Roosevelt Hotel (formerly known as the Somerset Hotel), listed on the National Register of Historic Places, into a 42-unit rental apartment building with approximately 3,365 square feet of ground floor commercial space
PROJECT TYPE: | Restored Landmark
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DEVELOPER: | Neighborhood Rejuvenation Partners LP
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GENERAL CONTRACTOR: | Wolverine Construction, Inc.
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ARCHITECT: | Pappageorge Haymes Ltd.
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INVESTOR FUND: | Community Reinvestment Fund 2000 L.P.
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PROJECT OWNER: | Roosevelt Hotel LP
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PROPERTY ADDRESS: | 1152 South Wabash Avenue, Chicago, Illinois
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NEIGHBORHOOD: | South Loop
Located in Middle-Income census tract (at time of initial investment)
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NUMBER OF BUILDINGS: | 1
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TOTAL NUMBER OF
RESIDENTIAL UNITS: | 42
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UNIT TYPES: | 7 Studio/1 Bath
14 Small 1 Bedroom/1 Bath
14-1 Bedroom/1 Bath
7-2 Bedroom/1 Bath
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AFFORDABILITY: | 9-15 units (21%-36% of total) initially projected to be
affordable to moderate-income homebuyers
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TOTAL COST: | $9,816,800
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CRF CAPITAL
(net to project): | $1,207,600
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