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Development Watch: Wicker Park Reno

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According to Crain's, developer Centrum Partners has plans to spruce up an old department store at 1275 N. Milwaukee Ave in Wicker Park. The Chicago-based developer is hoping that improvements to the four-story building will attract higher-end tenants while enlivening a sleepy stretch of Milwaukee Ave where rents are stranded at $20/sf, compared to $50/sf farther north. "That building has been one of the things that has kept that stretch back," Adam Burck, executive director with the Wicker Park Bucktown Chamber of Commerce, told Crain's. Centrum's proposal includes repairs to the terra cotta ornaments, exterior paint removal, and the creation of 17-foot storefronts along the base of the building. Let's hope this kicks off a retail renaissance! [Crain's]