Partial funding has been announced for the affordable development at 3150 N Racine Avenue in Lakeview. Sitting on the corner with W Belmont Avenue, the project was approved by the city back in 2022. The proposal is being led by Mercy Housing and expands the existing SRO with a design developed by LBBA Architects.
Site context rendering of 3150 N Racine Avenue by Landon Bone Baker
The original building rises four stories along the corner and was built in 1920’s, designed by Dennis Langley with cream bricks and a unique green tile roof. This structure currently contains 70 low income housing 200-square-foot SROs and will be part of the greater renovation. The work will see the first floor be revamped with new amenity and assistive service spaces for residents.
First floor plan of 3150 N Racine Avenue by Landon Bone Baker
The rest of the building will hold 51 units once completed, these will be joined by an additional 35 in the upcoming expansion replacing an existing parking lot. This will bring the development’s unit total to 86 made up of studios and one-bedroom layouts. Anchoring the ground floor of the expansion will be a new storefront space as well.
Second and third floor plans of 3150 N Racine Avenue by Landon Bone Baker
The exterior of the expansion will utilize a similar design language with cream bricks and green accents. Now with zoning approved, the developer has been awarded partial funding in the form of Low Income Housing Tax Credits (LIHTC), though an amount has not been disclosed nor a budget. Currently a construction timeline is also unknown.
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