Apartment Portfolio with LIHTC
For Sale
Contact for pricing
5539 S Prairie Ave, Chicago, IL 60637
Two communities offer courtyard and townhome-style layouts with LIHTC and HAP program agreements.
Property SizeContact for details
Days on Market39
Property Features for 5539 S Prairie Ave
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Public Transit
Yes
Multifamily Units
176
Listing Agency:
Chicago - Downtown
(312) 612-5936
Listed By:
Tyler Hague · License #IL: 471.009171; IN: PB21300474; WI: 57999-90
(312) 612-5936
Source:
Colliers
Added: Jul 24
Changed: Aug 30
Last Checked: Aug 30 at 12:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Chicago - Downtown
Investment Insights
Based on property information with market context.
This multifamily offering combines two apartment communities totaling 176 units in Chicago’s Washington Park neighborhood. Park Apartments contains 120 units in a historic courtyard setting and is subject to layered LIHTC and HAP agreements. Prairie Park Apartments adds 56 townhome-style units, with LIHTC restrictions nearing expiration. The properties can be acquired together or separately, allowing consideration of either the complete offering or an individual community.
The assets are positioned within Chicago’s South Lakefront submarket in a transit-accessible setting. Nearby demand drivers identified for the offering include Washington Park, Hyde Park, the University of Chicago, UChicago Medicine, and Lake Michigan. The portfolio provides two distinct physical profiles: a courtyard apartment community and a townhome-style community, each with its own affordability-program structure.
The assets are positioned within Chicago’s South Lakefront submarket in a transit-accessible setting. Nearby demand drivers identified for the offering include Washington Park, Hyde Park, the University of Chicago, UChicago Medicine, and Lake Michigan. The portfolio provides two distinct physical profiles: a courtyard apartment community and a townhome-style community, each with its own affordability-program structure.
Key Highlights
- 176‑unit offering comprising two multifamily communities
- Park Apartments includes 120 units in a historic courtyard layout
- Prairie Park Apartments contains 56 townhome‑style units
Property Analytics
Current Use
Lease Details
176
Residential units
Location Intelligence
Trade Area within ½ mile
912
Businesses Nearby
Explore this area
Business Placement
Demographics for 60637, IL
53,555
Population
26,717
Households
2
Avg Household Size
31
Median Age
37%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
11,901
Density / Sq Mi
$42,080
Median Household Income
$33,227
Median Earnings
$1,170
Median Rent
$243,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two communities offer courtyard and townhome-style layouts with LIHTC and HAP program agreements.
Where is this apartment building located?
The property is located at 5539 S Prairie Ave Chicago, IL.
What are key features of this property?
This property features: 176‑unit offering comprising two multifamily communities; Park Apartments includes 120 units in a historic courtyard layout; Prairie Park Apartments contains 56 townhome‑style units
