Habitat Fully Leases Apartment Development in Bronzeville

Habitat Fully Leases Apartment Development in Bronzeville
News| June 20, 2025| Jasmine Kilman
Chicago & Midwest + Apartment Buildings

Chicago-based Habitat has fully leased the apartments in the second phase of 43 Green, a mixed-income, mixed-use community in Chicago’s historic Bronzeville neighborhood on the city’s Near South Side.

Located at 4309 S. Prairie Ave., immediately west of the CTA’s 43rd Street Green Line stop, 43 Green Phase 2 rises 10 stories and features 80 apartments, 44 of which are designated as affordable. Bordering the east side of the CTA station is Phase 1 of 43 Green, a 10-story, 99-unit building that includes 50 affordable apartments, with the remainder leased at market rate. Phase 1 welcomed its residents starting in June 2023 and was fully leased by December of that year.

The residences at 43 Green Phase 2 are offered in studio, one- and two-bedroom floor plans ranging from 465 to 1,092 square feet. Representing an investment of over $100 million across the project’s three phases, 43 Green is the first equitable transit-oriented development (ETOD) on Chicago’s South Side.

Other News

Multifamily Refinancing Squeeze: 41% Higher Costs, $6.8B Equity Gap

Apartment Buildings

Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...

Learn more

Mortgage Rates Tilt Demand Toward Multifamily: Marcus & Millichap

Apartment Buildings

An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...

Learn more

Revere, MA Weighs 1,700-Unit Housing Project

Boston & New England + Apartment Buildings

The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up