This 231-unit Section 221(d)(3) project was acquired in 1990 by CCDC under a Plan of Action in accordance with Title II of the Housing and Community Development Act of 1987. Under this plan, developed in cooperation with the 850 West Eastwood Tenants Association, a $4.7 million dollar rehabilitation program addressing all major systems was successfully completed on time and under budget. In addition, the Tenants Association is undertaking a Resident Management Training Program funded by ownership and joined the ownership entity as a partner in 1995.
The 850 Eastwood project was selected by the Chicago Association of Realtor’s for its first annual multifamily housing rehabilitation “Good Neighbor” Award as rehab of the year in 1993. In 2010, this project was sold to an affiliate of Mercy Housing to extend its affordable use and provide for an additional rehabilitation.