Gorman & Co. to Transform Historic Chicago School into Affordable Housing
Once redeveloped, the former elementary school will comprise 50 units.
Gorman & Co. has broken ground on Earle School Apartments, a 50-unit, affordable housing redevelopment in Chicago. The developer will reshape a 65,000-square-foot former elementary school.
Beehyyve Architects designed the property, while Burling Builders serves as the general contractor. Upon completion, The Phoenix Foundation will provide supportive services.
The Earle School Apartments is slated to feature one- and two-bedroom floorplans. Aiming for Enterprise Green Communities certification, the crew will implement energy-efficient technologies.
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Four of the units will be reserved for residents earning up to 15 percent of Area Median Income, while 20 units will be set aside for families earning at or below 30 percent AMI. Six apartments will be restricted for individuals earning up to 50 percent AMI. The remaining 20 units will be reserved for residents earning at or below 60 percent AMI.
Located at 6121 S. Hermitage Ave., the redevelopment is roughly 10 miles southwest of downtown Chicago. Multiple parks, playgrounds and transit stops can be found within less than 1 mile.
As of 2023, estimates placed the development costs at more than $30 million. Financing included $4.7 million issued by The Chicago Department of Housing, along with historic tax credits. Additionally, the developer applied for $1.5 million in 9 percent LIHTC in 2022.
Additional partners included The City of Chicago, Illinois Housing Development Authority, E.G. Woode, R.A.G.E., FHLBank Chicago, Merchants Bank of Indiana, Merchants Capital and the Greater Illinois Title Co.
The adaptive reuse of a historic Chicago school
The educational institution debuted in 1896 with one auxiliary building coming online in 1974. In 2014, former Chicago Mayor Rahm Emanuel shut down Charles Earle Elementary along with 50 other schools.
Gorman & Co. purchased the property in 2017 for $200,000. Plans call for the demolition of the 1974 addition and the overhaul of the 1896-constructed building. The revamp will include the addition of an amenity suite comprising a sports court, mail and package room, computer lab, community room and bike storage, among others. The developer also intends to construct 25 townhomes on an adjacent vacant lot.
Building affordable housing in Chicago
Chicago’s total affordable unit count landed at 209,427—or 36 percent of the grand total—in 2019, according to a report from city authorities. The figure for the legally restricted apartments clocked in at 59,269 (10 percent) while the naturally occurring affordable housing unit count was 150,158 (26 percent).
As of October 2024, developers had more than 2,560 units underway throughout 21 affordable communities in Greater Chicago, according to Yardi Matrix data. The units represented more than 18 percent of the total multifamily stock under construction in the metro.
One community that expanded the metro’s affordable inventory is Fox Valley Apartments, a 47-unit property that debuted two months ago. A partnership of Housing for All, Visionary Ventures, Cordogan Clark & Associates and JTE Real Estate Services developed the property.
