Holsten opens model unit at Hilliard

Holsten Real Estate has opened a model apartment and started leasing for the 176-unit senior housing phase at the Hilliard Towers Apartments, a $100 million redevelopment of the Chicago Housing Authority’s 654-unit Near South project.
Around 76 of the apartments, reserved for seniors 62 and older, are still available. They include a mix of CHA and affordable units. Seniors must earn no more than 60 percent of the area’s median income ($36,200 for a couple) to qualify for an apartment. A single senior earning up to $31,700 per year would be eligible for a one-bedroom unit with rent of $565 and $610 a month, including heat, air conditioning and cooking gas.

“Rent of $565 is significantly under the market for a one-bedroom apartment, even for seniors,” said developer Peter Holsten.

Each senior building has new first-floor laundry facilities, a 16th floor party room, a library with four computers and Internet access, a recreation room and outdoor terraces. The units include new kitchens and baths, new windows and new sprinkler and fire alarm systems.

Listed on the National Register of Historic Places, the Raymond M. Hilliard Center was designed by iconoclastic architect Bertrand Goldberg and built between 1962 and 1966. The CHA owns the land and has leased it to Holsten for 99 years. The $46-million first phase of 327 units took about two years to complete.

Marked by the futuristic curvilinear style Goldberg also used at River City and Marina City, Hilliard comprises four buildings, two 22-story crescent-shaped highrises and a pair of 16-story cylindrical buildings located between State and Clark from 2000 to 2200 south.

Hilliard Towers Apartments is being gut rehabbed under the direction of Holsten, who has managed the CHA project since 1999. Now about half completed, the Hilliard Towers renovation is expected to take four years to complete.

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