Prairie Park & Park Apartments

Park Apartments & Prairie Park Apartments represent a 176-unit affordable multifamily offering in Chicago’s Washington Park neighborhood within the South Lakefront submarket. The properties are being offered as a package or may be purchased individually, providing investors flexibility to acquire either a larger-scale portfolio or a single asset based on their investment strategy.

The offering includes Park Apartments, a 120-unit historic courtyard community with layered LIHTC and HAP agreements, and Prairie Park Apartments, a 56-unit townhome-style community with LIHTC restrictions nearing expiration. Together, the assets provide stable in-place income, embedded rent upside through below-allowable rents, and exposure to a transit-accessible location near Washington Park, Hyde Park, the University of Chicago, UChicago Medicine, Lake Michigan, and other major South Side demand drivers.

With strong neighborhood anchors, limited new supply, and continued demand for attainable housing, the portfolio offers a compelling blend of predictable cash flow, operational upside, and long-term appreciation potential. Investors may pursue the full 176-unit portfolio for scale or evaluate each property individually based on its distinct profile and value proposition.