First residential phase at LeClaire Courts closes on financing

The Habitat Company, together with Cabrera Capital Partners, has announced the completion of the financial closing for the first residential phase of the long-planned $127 million redevelopment of LeClaire Courts. Located in Garfield Ridge, the 32-acre site, bounded by Cicero Avenue to the east, 45th Street to the south, Lavergne Avenue to the west, and the Stevenson Expressway to the north, was previously home to the LeClaire Courts public housing community, which was completed in the 1950s and demolished in 2011. The overall redevelopment calls for up to 700 mixed-income residential units and approximately 440,000 square feet of commercial space and publicly accessible open space.

Designed by SCB, the first phase of the redevelopment consists of two six-story mixed-use buildings located at 4809 W. 44th and 4442 S. Cicero. Collectively, they will offer 183 apartments with 110 units and 73 units respectively in a mix of studio, one-, two- and three-bedroom floor plans. A 14,000-square-foot early childhood center and 2,200 square feet of additional first floor retail space will be included in the two structures. The building at 4809 W. 44th will include 134 parking spaces and both buildings will have 40 bike spaces each.  

Ninety percent of the homes will be designated as affordable through income and rent restrictions accompanying the development’s various sources of public financial support, including the CHA, the Chicago Department of Housing and the Illinois Housing Development Authority, with the remainder available as market-rate apartments.

Residents in Phase I will have access to on-site amenities including a fitness center in each building, multiple lounges, community rooms, resident services meeting space, laundry facilities, package rooms and bicycle storage. A rooftop apiary on the north building will enhance urban biodiversity, foster environmental sustainability, provide fresh honey for residents and offer educational opportunities for families.  

 Additional exterior features will include community-centered murals on both the north and south buildings, surface parking, two playgrounds, a landscaped gathering area between the structures with a greenway running through it, and accessible walking paths that will eventually connect to an on-site grocer, healthcare facilities and other retail offerings.

Funding sources for the project include a $27 million capital loan from the Chicago Housing Authority, $9.5 million in city multifamily program funds, $5.5 million in tax-increment financing, $33.7 million in Low-Income Housing Tax Credit equity, $1.25 million in Illinois Affordable Housing Tax Credit equity and a $1.2 million deferred developer fee. 

The closing officially sets construction in motion for the mixed-income community. With George Sollitt Construction Co. serving as general contractor and permits issued for the buildings, work is expected to begin this fall.