The Mark Twain

Affordable Housing in Chicago, Illinois

Originally constructed in 1932, The Mark Twain is located in downtown Chicago’s Gold Coast neighborhood. This historic five-story, elevator building functions as an SRO (single resident occupancy) hotel. It contains 148 SRO units with private bathrooms. This property also includes a lobby and eight retail stores on the ground floor, a parlor for community activities, and a laundry room for residents’ use. The building is conveniently located above the Chicago Transit Authority’s red line train service, providing 24-hour citywide public transportation.

Total Cost

$ 22,860,000

Description
The Mark Twain is comprised of 148 SRO units with private bathrooms. The property is unrestricted, but serves a low income population due to the surrounding community’s demographic profile.

Financing
The Mark Twain Hotel’s purchase price was $21,000,000. Secured financing and funding for this project included:

$ 16,600,000Pembrook Capital
$ 5,250,000Chicago Community Loan Fund
$ 760,000US Bank Tax Credit Equity and Donation
$ 150,000Seller Charitable Donation
$ 100,000Owner Equity

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