Holsten Selling 17-Building Affordable Housing Portfolio

Source: Chicago Sun-Times

Summary

Peter Holsten, a prominent Chicago developer, is selling a 17-building portfolio that includes 2,638 housing units as he approaches retirement. Among these, 758 units are designated as mixed-income through the Chicago Housing Authority, highlighting the ongoing challenges and opportunities in affordable housing.

Why It Matters

This sale represents a significant shift in the local real estate landscape, possibly impacting affordable housing availability in Chicago. As many developers face similar transitions, the future of mixed-income projects hinges on new investments and commitments from incoming buyers.

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