POAH, a nonprofit organization dedicated to preserving affordable housing, recently acquired two residential properties from the distressed Heartland Housing portfolio. These properties, Harvest Commons and Warren Ashland Apartments, are located on Chicago’s Near West Side and consist of 164 mixed-income apartments. They are conveniently situated less than a mile away from the United Center.
Previously owned by nonprofit Heartland Housing, these properties were facing financial difficulties which led to their acquisition by POAH in 2023. This purchase is significant for POAH as it continues its mission of rescuing at-risk properties in Chicago since 2008.
According to Bill Eager, SVP for POAH’s Midwest office: “This acquisition holds great importance for us as we strive towards providing much-needed affordable housing in the City of Chicago.” As managing partner and general partner with an interest in two low-income housing tax credit partnerships for these properties; Enterprise Community Partners serves as the limited partner representing tax credit investors. With this acquisition, POAH aims to restore long-term stability and provide quality affordable housing options for this community.
