Holsten Portfolio Hits Market as Founder Plans for Retirement

July 1, 2026 - 22:51

Peter and Jackie Holsten, longtime fixtures in Chicago's development scene, have listed their entire 17-property portfolio for sale. The move signals a wind-down as founder Peter Holsten prepares for retirement. The collection includes affordable housing properties spread across the Chicago area, representing decades of work in the city's lower-income neighborhoods.

The Holstens built their reputation on rehabbing and managing rent-restricted units, often in areas other developers overlooked. Their portfolio now covers a mix of apartment buildings and complexes that serve tenants under various subsidy programs. Industry insiders say the sale could attract both local investors and larger national firms focused on affordable housing.

Peter Holsten started the company in the 1980s, focusing on preserving aging housing stock while keeping rents manageable. Over the years, the firm became known for navigating the complex web of tax credits and government funding that makes such projects viable. Jackie Holsten handled much of the day-to-day operations and tenant relations.

The decision to sell comes as many older developers in the region cash out amid rising property values and shifting market conditions. A broker handling the listing confirmed the properties are being offered as a single portfolio, though they did not disclose an asking price. The sale is expected to close by early next year, pending regulatory approvals tied to the affordable housing designations.