Everest Partners

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Properties

Residential & Mixed Use

Commercial


Park Leland

Clarendon & Leland Avenue
Chicago, Illinois

Ansonia created value by conceiving a plan to transform a long-time neighborhood blight into an attractive mixed-income residential development. A prior developer’s plan to create an assisted living facility had failed and left two buildings vacant and abandoned for over four years. Ansonia acquired the property through a private foreclosure sale, immediately demolished one of the buildings, and created a plan for 64 new construction condominiums and townhomes as well as 39 units of affordable senior housing in the remaining building. Working in a community known for vigorous debate among its diverse stakeholders, Ansonia earned a consensus in support of its proposal and the authorizing Planned Unit Development ordinance was approved without objection.