Prairie Court Apartments
Prairie Court was a substantial renovation of a 30-unit multi-family building in the Washington Park neighborhood of Chicago. The project was financed through HUD via the Neighborhood Stabilization Program. The program provided funding for the rehabilitation of these income restricted apartment units, in turn a compliance period of 20 years is required on behalf of the owner to assure the appropriate tenants are at the building as the program intended.
Three Corners utilized comprehensive energy efficient construction practices for this rehabilitation for tenants through significant energy cost reduction. In addition, Three Corners worked with Madison Construction to develop a proposal that will provide the highest quality of interior and exterior construction and will require minimal ongoing maintenance of the property throughout the term of ownership. With the energy efficient construction practices being employed and the more than $3.0 million in renovations being carried out for this project, Prairie Court Apartments serves as a valuable asset in a community that has seen neglect in recent years.
One challenge in this project was that upon closing, the building was already occupied by 11 residents. To undertake the renovation of the building, Three Corners implemented a Uniform Tenant Relocation Plan to provide temporary living accommodations for each of the tenants during the construction process.
- Start: August 2011
- Completion: December 2012
- Budget: $5.0 million
- Size: 27,950 SF
- 3C Services: Development
- Owner: 6034 Building, LLC
- Property Manager: Safe Harbor Realty
- General Contractor: Madison Construction
- Architect: Manske, Dieckmann,Thompson
- For leasing information please contact Edward Reagan at Safeharbor Realty (312) 337-7384