The Mark Twain

The Mark Twain Hotel was built in 1930 as a single-room occupancy (SRO) residential hotel, and it continues to function as one today. In fact, its SRO identity is one of the key reasons this restoration came to fruition. The NHP Foundation (NHPF) was one of the first developers to utilize Chicago’s SRO and Residential Hotel Preservation Ordinance of 2014. The ordinance was put in place by the city to encourage developers to restore affordable housing properties and maintain affordable housing programming. Other contributing factors of this project’s success include low-income housing tax credits and federal historic tax credits (the property was listed on the National Register in 2017). Ryan’s Historic Tax Credits team consulted on the $4.9 million in federal historic tax credits utilized for the building’s rehabilitation.

As a mixed-use property with 148 income-restricted studio apartments and seven ground-floor retail stores, the restored property addresses the need for diversity in housing opportunities in one of Chicago’s most highly sought-after areas. The property specifically aims to serve individuals on the verge of homelessness. The building’s seven ground-floor retail stores also offer more diversity in food and beverage options in an area that had previously been known as a “food desert” in terms of affordable food and beverage options.