Chicago-based Structured Development has completed construction and opened a new model unit at The Seng, a 34-unit affordable condominium building in Chicago’s Lincoln Park neighborhood. Creating a new homeownership option, the homes, ranging from two- to four-bedrooms and 824 to 1,378 square feet, are available to income-restricted buyers.
The Seng is the first of three residential buildings totaling 487 units to be completed at Wendelin Park, a mixed-use, mixed-income development by Structured Development. The other buildings are Post Chicago (formerly Common Lincoln Park), a 10-story, 432-bed co-living community to be operated by New York-based Common, and The Foundry, a 27-story, 327-unit market-rate rental tower scheduled to be completed at the end of 2023.
All three residential buildings are centered around the new 26,000-square-foot Wendelin Park, privately developed by Structured as a public amenity with a nature play area, a dog run, a community garden, and gathering areas.
The Seng's 34 units are reserved for individuals earning up to 120% of the area median income and must be preapproved for a traditional, Federal Housing Administration, or Veterans Affairs loan and be certified through a homeownership program administered by the Chicago Housing Trust.
“The Seng is an example of the city’s leadership in addressing a broad range of affordable and workforce housing needs, including a lack of quality, entry-level homes for those who would otherwise be priced out of many neighborhoods,” says Mike Drew, co-founding principal of Structured Development.
“Faced with rising home prices and interest rates, many working individuals and families have given up on homeownership in Chicago. But inclusionary options like The Seng allow them to purchase a newly constructed condominium well below market rates while ensuring those homes remain affordable should buyers ever decide to move.”
Designed by GREC Architects, The Seng’s family-friendly floor plans offer large windows, 9-foot ceilings, and modern finishes, including GE stainless steel appliances, Kohler chrome faucets, quartzite counters, and two-tone cabinetry. Condos also include in-unit laundry and come with a deeded garage parking space. Accessible residences are available. Residents will have access to a shared rooftop terrace with city views, a fitness center, and bike storage.
Named after Wendelin Seng, a German immigrant who founded a furniture manufacturing factory on the site in 1874, the building’s lobby design will feature wall art and original artifacts recovered from a 1902 time capsule found on the site during construction, all commemorating Seng and his company.