The Habitat Company Secures Financing for Phase II of $200 Million Mixed-use Ogden Commons in Chicago

by Kari Lloyd

CHICAGO — Chicago-based The Habitat Company has secured financing for the second phase of Ogden Commons, a $200 million mixed-use, mixed-income project in the North Lawndale neighborhood on Chicago’s west side. Upon completion, the development will offer over 350 mixed-income units and 120,000 square feet of commercial and retail space. The development will be known as OC Living.

With financing in place, construction has already started on OC Living’s first phase, a 92-unit building that will consist of 90 percent affordable units with the remaining units offered at market-rate. Planned outdoor amenities include an enclosed rubber-surfaced children’s tot lot with play structures, bike racks, 110 parking stalls. Indoor amenities, located on the building’s first floor, will include package and mail rooms, management and social services offices, a fitness center and bike room. The building is expected to deliver in the spring of 2024.

Developed by The Habitat Company, along with Sinai Health System, Alecko Capital and the city of Chicago, Ogden Commons is the city’s largest opportunity zone project. Built over multiple phases, the entire project is scheduled to be complete by 2026 with McHugh Construction Co. and Bowa Construction serving as general contractors for the development. Bank of America is among the project’s other development partners.

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