Affordable residential building ‘The Seng' opens in Near North Side

The Seng – created by Chicago-based real estate development company Structured Development – is a newly opened building near Clybourn Corridor that features two, three, and four-bedroom condos for income-restricted buyers. The building boasts 34 condos and family-friendly floor plans with prices starting at $285,000, and it is the first all-affordable condo building of its size in Chicago. In an effort for the city to address the lack of quality, entry-level homes, The Seng aims to house those who might normally be priced out of in-demand neighborhoods.

Homes at this highly sought-after building are reserved for people earning up to 120 percent of the area median income, with at least three people per household. However, becoming a buyer has limitations, with prior pre-approval required for a traditional FHA or VA loan and certification through Chicago Housing Trust’s homeownership program.

The Chicago Housing Trust started accepting applications for The Seng building on a first-come, first-served basis on Monday, February 27 and will end on Friday, March 10. Due to such high demand, a lottery drawing will decide on buyers on Thursday, March 16.

Floor plans include accessible condo options, large windows, 9-foot ceilings, modern finishes, and in-unit laundry. Amenities are available to all residences, such as a rooftop terrace with city views, a 26,000 square foot ground-level park, bike storage, and a fitness center.

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