KISSEL KAR LOFTS
Rehabilitation of a vacant, three story loft factory/ warehouse, the construction of a fourth story atop the existing structure, and the conversion of the entire building into 45 condominium units plus indoor parking spaces
PROJECT TYPE: | For-Sale Housing
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DEVELOPERS: | Paradigm Residential Development Group, Inc. and Premier Building Contractors Inc.
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GENERAL CONTRACTOR: | Premier Building Contractors Inc.
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ARCHITECT: | Mayer Jeffers Gillespie Architects
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INVESTOR FUND: | Community Reinvestment Fund 2003 L.P.
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PROJECT OWNER: | 2550 Wabash Limited Partnership
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ADDRESS: | 2550 South Wabash Avenue, Chicago, Illinois
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NEIGHBORHOOD: | Near South Side
Located in Low-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: | 45
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UNIT TYPES: | 31-1 Bedroom/1 Bath
2-1 Bedroom/1 Bath/Duplex
3-2 Bedroom/1 Bath
14-2 Bedroom/1Bath/Duplex
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AFFORDABILITY: | 6 units (13% of total) initially projected to be
affordable to moderate-income homebuyers
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TOTAL COST: | $11,242,683
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CRF CAPITAL
(net to project): | $ 1,800,000
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