The Habitat Co. to Manage 1,010 Chicago Units
The firm is adding two condo properties in the South Loop and Bronzeville neighborhoods to its management portfolio.
Multifamily developer and property manager The Habitat Co. will take on the management of two condo properties in Chicago totaling 1,010 units, effective January 1. The company will manage 899 S. Plymouth Court and South Commons Phase 1 Condominium Association, two high-rise buildings located in the South Loop and Bronzeville neighborhoods, respectively.
Habitat has doubled the size of its condominium portfolio over the past 12 months, with 14 associations and 5,071 units now under management in the Windy City and Southeast Michigan following the latest win. Other new condo deals this year have included the management of Park Tower, Metropolitan Tower and Eliot House, totaling 1,281 units.
Located at 3001 S. Indiana Ave., South Commons Phase 1 Condominium Association has 760 units and overlooks Dunbar Park near the 35th- Bronzeville-IIT subway station. Built in 1980, the 250-unit 899 S. Plymouth Court is located between the Harrison and Roosevelt stations to the west of Grant Park.
Habitat, which has more than $3 billion in assets and manages more than 25,000 units across six states, earlier this year secured financing for the first phase of Ogden Communities, a $200 million public-private partnership development in Chicago’s North Lawndale neighborhood. The 10-acre project will contain more than 350 mixed-income housing units along with commercial and retail space.