Habitat Co. Receives Financing for Phase II of $200M Ogden Commons Mixed-Income Development in Chicago

by Kristin Harlow

CHICAGO — The Habitat Co. has received financing for Phase II of Ogden Commons, a $200 million mixed-use, mixed-income project in Chicago’s North Lawndale neighborhood. Upon completion, there will be 120,000 square feet of commercial and retail space and more than 350 mixed-income housing units known as OC Living.

Construction has commenced on OC Living’s first phase, a 92-unit building. Of the total units, 90 percent will be affordable and 10 percent will be market-rate. Completion is slated for spring 2024. The four-story building is located steps away from the three-story commercial building that marked Phase I of Ogden Commons and was completed in 2021. The 30,000-square-foot property is home to Wintrust Bank, Momentum Coffee and Sinai Health System’s One Lawndale Express Care Clinic.

Development partners include Sinai Health System, Alecko Capital and the City of Chicago. Ogden Commons is the city’s largest Opportunity Zone project, according to Habitat. Built over multiple phases, the entire project is slated for completion by 2026. McHugh Construction Co. and Bowa Construction are the general contractors. Bank of America is among the project’s other development partners.

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