Receiver Sale: 57-Unit Subsidized Senior Living | Crestwood Apartments | Chicago West Side

Highlights:

• 57-Unit Subsidized Senior Living Building – Six-story mid-rise located on Chicago’s West Side in the Austin neighborhood.
• Durable CHA-Backed Income Stream – All but one unit subsidized through the Chicago Housing Authority, supporting stable and consistent revenue.
• 75% Occupied – Providing immediate income upon acquisition.
• Transit & Highway Connectivity – Located a few blocks from the Austin CTA Green Line station and approximately one mile from I-290.
• Efficient Studio-Heavy Unit Mix – 40 studios, 16 one-bedroom units, and one two-bedroom unit within a 26,035 SF building.
• On-Site Amenities & Parking – Elevator building with on-site laundry and 19 surface parking spaces on a 0.34-acre lot.

Description:

Copy and paste this link to view full auction details on RI Marketplace: https://rimarketplace.com/auction/3034/multifamily/chicago/il

Frontline Real Estate Partners, in conjunction with RealINSIGHT Marketplace, is pleased to present Crestwood Apartments, a 57-unit subsidized senior living building offering in-place cash flow, CHA-backed income stability, and strong transit-oriented positioning on Chicago’s West Side. Located at 525 North Austin Boulevard in the Austin neighborhood, the six-story building was constructed in 1930 and contains 26,035 square feet on a 0.34-acre site. The Property is currently 75% occupied.

The unit mix consists primarily of studios (40 units), along with 16 one-bedroom units and one two-bedroom unit. All but one unit are subsidized through the Chicago Housing Authority, providing durable and predictable income supported by an established resident base. The Property benefits from strong connectivity, situated just blocks from the Austin CTA Green Line station and approximately one mile from Interstate-290, enhancing accessibility for residents and visitors alike. Crestwood Apartments represents an opportunity to acquire a stabilized, cash-flowing subsidized senior housing asset with long-term income support in an established Chicago neighborhood.