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


The rehabilitation of historic Mark Twain hotel in Chicago was a landmark achievement for The NHP Foundation. With work beginning in 2018, this substantial renovation of a historically significant property transformed the building from a significant but aged affordable housing resource into a modern, desirable SRO property in the heart of Chicago’s Gold Coast neighborhood.  All units were converted into true studio apartments with the addition of a full kitchen. Other upgrades included façade preservation, new windows, a new HVAC system, updated electrical and plumbing fixtures, and updated bathrooms. Common areas were also historically restored and a new outdoor roof deck added for residents’ use.

Secured financing and funding for this redevelopment included:

$27,325,0001st Mortgage
$12,452,0914% LIHTC Equity
$5,000,000City Soft Debt
$4,807,823Historic Tax Credit Equity
$2,387,049NHPF Sponsor Loan
$1,650,000Deferred Developer Fee
$148,000ComEd Energy Efficiency Program
$130,420Cash from Operations

Total Cost

$ 22,860,000

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.

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